3. Maj gets state guarantee [Finance]
Croatia’s 3. Maj shipyard has secured a state loan guarantee worth EUR 17.5m ($24.55m) for four tankers ordered by Sweden’s Wisby Tankers. The European Union may not approve of the decision, however, as it enforces privatsation of six Croatia...
2010-11-04 08:20:46
Cosco Corp earnings rise [Finance]
Singapore-listed Cosco Corp has posted a big jump in nine-month earnings as its shipyards and bulkers thrived. The unit of Chinese giant Cosco said net profit to 30 September was SGD 218.43m ($169.72m), compared to SGD 116.89m in 2009. Revenue ju...
2010-11-04 08:19:00
Colombo Dockyard seeks ferry award [Offshore]
Sri Lanka's Colombo Dockyard has been short-listed in a tender to build more ferries for India. It has already delivered two 250-passenger vessels to the Lakshadweep islands government. Now the battle is on to secure a contract for two bigger...
2010-11-04 08:16:41
STX Europe cuts jobs [General]
STX Europe is to chop 350 jobs at two Finnish shipyards. The posts will go at Rauma and Turku to “increase competitiveness”, the Korean-owned group said. The news comes days after the world's biggest cruiseship, Royal Caribbean's Allure o...
2010-11-04 08:14:37
New Aframax prices to drop [Shipping]
Aframax tanker newbuilding prices are forecast to fall further to around $47m. Average aframax earnings are set to remain low for the next 12-15 months, foresees German bank DVB. It says that following the sharp decline in aframax values from ...
2010-11-04 08:13:21
HNA to build 40 ships [Shipbuilding]
China’s Fujian Shipbuilding Industry Group Corporation (FSIGC) recently signed strategic cooperation with Hainan Airlines, which was the shareholder of Grand China Logistics and Jinhai Heavy Industry. As is revealed, the cooperation covered newb...
2010-11-04 08:02:23
Samsung profitability improves [Finance]
Samsung Heavy Industries has posted a 16% rise in third quarter after-tax profit. The major Korean shipbuilder said net profit for the third quarter was KRW 258.1bn ($233m), up 16.3% against a year earlier. But revenue was down 13.1% to KRW 3....
2010-11-04 07:41:01
HHI first digitize shipbuilding welding [Equipment]
Hyundai Heavy Industries has recently developed a 'digital welding system' for ship welding for the first time worldwide. HHI has used analog welding method for the past 40 years since 1972. HHI said with digital welding system, a novice welder...
2010-11-03 12:57:20
Sungdong wins 39-ship orders [Shipbuilding]
Sungdong Shipbuilding & Marine Engineering announced today that it has secured new orders for 39 commercial ships worth $1.7bn so far this year. The midsize Korean shipbuilding powerhouse, located in Tongyeong, South Gyeongsang Province, won 25-sh...
2010-11-03 12:21:12
SPP celebrates 100th delivery [Shipbuilding]
Korean midsize shipbuilding stalwart SPP held a milestone christening ceremony on November 2nd for its 100th newbuilding. A 59,000-dwt bulker ordered by Greece’s Adelfia was named ‘THELISIS’ yesterday. SPP delivered a Builder’s Mark to ...
2010-11-03 08:58:31
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