Berg Propulsion selected for United Faith [Equipment]
Berg Propulsion’s innovative feathering controlled pitch propeller has been selected by United Faith (Hong Kong) Group subsidiary Celestone Marine Engineering Co. Ltd, as part of a deal that looks to equip up to four state-of-the-art semi-submersib...
2010-11-03 08:44:28
IHIMU & Universal merger talks ongoing [Shipbuilding]
A merger between Japanese shipbuilders IHI Marine United (IHIMU) and Universal Shipbuilding Co (USC) is still in the making, company executives say. Nearly three years have passed since the two yard players opened negotiations to bring their ship...
2010-11-03 08:39:15
Mermaid seeks rig order financing [Finance]
Mermaid Maritime-led joint venture Asia Offshore Drilling (AOD) is looking to raise up to $100m from a private placement. The funds raised will go towards the cost of two jack-up drilling rigs AOD has letters of intent for at Singapore’s Keppel...
2010-11-03 08:35:46
ABG inks two jack-up rigs [Offshore]
India's ABG Shipyard has won an order for two jack-up rigs worth $220m each. The buyer, Drilling & Offshore of Singapore, will be able to operate them in depths of up to 350 feet. They can drill to 30,000 feet. The rigs are designed for year-...
2010-11-03 08:34:10
Kawasaki returns to profit [Shipbuilding]
Kawasaki Heavy Industries has returned to the black in the first six months of the 2010 financial year, it confirmed Tuesday. The Japanese shipbuilder booked a net profit of JPY12.3bn ($153m) versus the loss of just under JPY6.3bn seen in 2009. ...
2010-11-03 08:32:18
Concordia secures Samsung order funding [Finance]
Concordia Maritime has secured funding for a suezmax newbuilding on order at Samsung Heavy Industries in South Korea. DnB NOR and SEB stepped up with the seven-year loan which will cover 70% of the tanker’s SEK 500m ($69.45m) price tag, a state...
2010-11-03 08:30:32
Admiralty mulls buying Sevmash [General]
Russia's Admiralty Shipyards is considering whether to buy “property” from rival Sevmash. The St Petersburg plant's shareholders will meet on 17 November to consider a fair price for the unspecified assets, and vote on whether to pursue the a...
2010-11-03 08:28:15
Rongsheng: Listing on 19th! [Finance]
Jiangsu Rongsheng Heavy Industries Group, Chinese private shipbuilding leader, would be listed in Hong Kong exchange on 19th. On November 1st, Rongsheng began road show in Hong Kong, aiming to collect 17.7bn HKD. The headquarters of Rongsheng i...
2010-11-03 08:27:27
OSG rejigs orderbook [Offshore]
Overseas Shipholding Group has swapped an order for two products carriers for a couple of crude tankers, it announced yesterday. New York-listed OSG has also pushed back delivery of the ships by up to two years as part of the reshuffle. The s...
2010-11-03 08:26:21
Hyundai Mipo to win $3bn orders [Shipbuilding]
Hyundai Mipo Dockyard is forecast to secure new orders totaling $3bn this year. Hanwha Securities analyst Jung Dong-Ik said, "Considering current market situation and HMD's order intake strategy, the shipyard is expected to win $3bn fresh orders t...
2010-11-03 08:06:40
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