Rongsheng gets OK for Hong Kong IPO [Finance]
Jiangsu Rongsheng Heavy Industries Group Co., a privately owned Chinese shipbuilder that shelved listing plans during the financial crisis, received approval for a revived US$1.2 billion-US$1.5 billion initial public offering from the Hong Kong stock...
2010-10-18 07:36:05
USC to win FESCO Arctic ships [Shipbuilding]
Transport Group FESCO (based company – JSC Far East Shipping Company) will decide on booking orders for building specialized Arctic vessels at United Shipbuilding Corporation’s enterprises in 2011-2012, FESCO’s major stockholder and Presid...
2010-10-18 07:34:16
VLCC oversupply nightmare [Shipping]
An average of five VLCCs deliveries per month so far this year with the trend worryigly increasing each quarter can’t be looked as good new for tanker owners in a period where the increase of oil demand is marginal and OPEC’s oil production is st...
2010-10-18 07:31:14
ABG wins $82m offshore vessels [Offshore]
India’s ABG Shipyard has pulled in orders totalling over $82m from Qatari and Italian owners for offshore vessels. A company jointly owned by Qatar Shipping and Qatar Navigation is behind the bigger of the two orders while Marnavi of Italy is sp...
2010-10-18 07:29:11
Technip invests in MMHE [Offshore]
French offshore outfit Technip has invested over $160m in MISC’s shipbuilding wing during its IPO. As part of the pact Technip has also agreed to share technical expertise with Malaysia Marine & Heavy Engineering (MMHE). Technip is paying a sli...
2010-10-18 07:24:52
Danish Soby wins new ferry [Shipbuilding]
Danish shipyard Soby Vaerft has won a new ferry order from the municipality of Faaborg/Midtfyn. The DKK 44m ($8.3m) vessel will run between Faaborg, Lyo and Avernako, it said. It will be delivered in 2012. It will have a larger capacity t...
2010-10-18 07:21:48
Korean single-skin ban [Shipping]
South Korea has confirmed its ban on overseas single-hulled tankers from 2011, while revealing more details on domestic ships. Foreign-flagged vessels will be barred from the country's ports from 1 January next year. And Korean-registered sin...
2010-10-18 07:19:18
Boxship: To turnaround next year [Shipping]
As reported earlier, Alphaliner indicated by the end of September, global idle fleet occupied 1.6%, namely 224,000TEU. As is revealed three-unit 4,800TEU boxships owned by Islamic Republic of Iran Shipping Lines were detained in Singapore due to fina...
2010-10-18 01:03:23
Jinhai to transfer 30% stock [Finance]
China’s Jinhai Heavy Industry (Ex-name Jinhaiwan Shipyard) intends to transfer 30% stock for private placement, as much as CNY4.5bn ($670m). An insider reveals more stock transferences will be considered if everything goes well this time. In...
2010-10-18 01:02:41
Chinese offshore plant: Unknown future [Offshore]
The gold miner is likely to be a millionaire or face bankruptcy. However those who provide jeans and tools to gold miners will surely become rich. China intends to exploit marine oil by home-made equipments. But the story seems not so simple. ...
2010-10-18 01:02:17
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