Sembcorp posts stronger performance [Finance]
Singapore yard group Sembcorp Marine has bumped up third quarter profit by 105%, helped by a settlement with France's Societe Generale. Net earnings to 30 September were SGD 296m ($230.67m), up from SGD 145m in 2009. Even excluding the $40m from ...
2010-11-05 07:26:55
STX Europe OSV's IPO starts! [Finance]
STX said today that its subsidiary STX Europe's offshore and specialised vessel (OSV) division's IPO has begun today lasting until next Wednesday, for listing at the Singapore Exchange (SGX) on November 12th. STX Europe looks set to rake in about ...
2010-11-05 07:24:39
Container market shows unusual sign [Shipping]
In this year, the hot season seemed not so hot while off-season felt not so cold due to financial crisis. Traditionally the container shipping market should be cold in the first half year and hot in the second half year. But in this year, it was d...
2010-11-04 09:03:15
China’s orders rise by 200% [Shipbuilding]
According to China Association of the National Shipbuilding Industry (CANSI) fresh statistics, in the past three quarters of 2010, national output hit 45.82m dwt, rising by 65% while new orders reached 50.71m dwt which was the three times of that in ...
2010-11-04 08:40:04
GE bags $120m Daewoo order [Offshore]
GE Oil & Gas said Wednesday it has won two contracts totalling over $120 million from South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME). The first contract is for the supply of a blowout preventer (BOP) stack and controls system, to...
2010-11-04 08:33:45
Wartsila, USC sign MoU for cooperation [Equipment]
Wärtsilä, a global leader in complete lifecycle power solutions for the marine and energy markets, and United Shipbuilding Corporation (Sudoexport), Russia’s leading shipbuilder, have signed a Memorandum of Understanding. Both parties hav...
2010-11-04 08:30:25
Shanhaiguan wins bulker quartet [Shipbuilding]
Navigation Maritime Bulgare (NMB) has signed a $112m contract for the construction of four 30,700dwt cargo carriers. The ice-class 1C vessels will have a length of 186m, width of 23.7m, a draft of 10.4m and a speed over 14kn. The vessels will ...
2010-11-04 08:28:45
Sinopacific embraces new development opportunity [Shipbuilding]
During the Fifth Plenum of the 17th CPC Central Committee, the State Council issued Decisions to Speed Up the Cultivation and Development of Strategic Emerging Industries. Based on these Decisions, offshore engineering equipment will become one o...
2010-11-04 08:27:16
VLCC orders soar [Shipping]
Tanker owners have exhibited their bullishness on the sector’s long term prospects, despite the current adverse market conditions they have stumbled upon. According to a report from London-based shipbrokers Gibson, during the third quarter of t...
2010-11-04 08:24:45
MAN Diesel celebrates 30 years in China [Equipment]
At a ceremony in Beijing, attended by licensees, company officials, business partners and local dignitaries, MAN Diesel & Turbo celebrated three decades of success in one of its most important markets. Klaus Stahlmann, company CEO, held a speech s...
2010-11-04 08:22:52
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