SAS partners Nigerian shipyards [General]
Southern African Shipyards (SAS), which is building tug boats for Transnet, will set up two shipyards in Nigeria and is finalising funding of R350 million needed for the first facility. SAS chief financial officer Prasheen Maharaj said that the ex...
2010-10-14 08:01:05
NOL revenues grow [Shipping]
Neptune Orient Lines (NOL) has reported a fourth consecutive month of strong growth in average revenues per feu. For the four weeks ending 17 September (period nine) the figure rose by some 38% year-on-year from $2,247 to $3,104 per feu. Improved...
2010-10-14 07:58:48
HMM operating profit hits record high [Finance]
Korea’s Hyundai Merchant Marine (HMM) has posted a record operating profit for the third quarter. It said rising freight rates boosted income to KRW 298bn ($266m) in the three months to 30 September, compared to an operating loss of KRW 242bn t...
2010-10-14 07:57:08
STX to secure $400m from listing [Equipment]
STX Europe will drag in $400m from the listing of its offshore and specialized vessels division, it is claimed. Europe’s largest shipbuilder is set to go public with details of the IPO on Monday before kicking off a two week road show, Reuters ...
2010-10-14 07:49:34
Danaos not buying more boxships [Shipping]
Greek shipowners may be steaming in to pick up container vessels but one of the sector’s most established names will not be following suit. With a large newbuilding orderbook on its way US listed Danaos already has its hands full, CEO John Cous...
2010-10-14 07:46:54
Seanergy expands without newbuilds [Shipping]
Seanergy Maritime is looking to double its fleet during the next two to three years, its CEO says. But shipyards can forget about gaining a slice of the action as Dale Ploughman believes the company is too small to order new vessels. Ploughman ex...
2010-10-14 07:43:05
Fredriksen buys Golar shares [Finance]
Golar LNG Energy insiders John Fredriksen and Tor Olav Troim have coughed up coin to grab 3.15 million shares of their Oslo-listed shipping company, according to exchange filings. Troim, chairman of the shipowner, yesterday acquired 750,000 units...
2010-10-14 07:40:39
Polarcus to raise $140m [Offshore]
Marine geophysical player Polarcus is looking to raise as much as $140m from a private placement and a bond issue. The Oslo-listed seismic owner says proceeds from the $60m share sale will be spent on upgrading the six-streamer Polarcus Samur (bu...
2010-10-14 07:38:14
Mitsubishi inks new PCTC pair [Shipbuilding]
Mitsubishi Heavy Industries has won orders for a pair of new pure car and truck carriers from Norwegian shipowners. Oslo-listed Wilh Wilhelmsen has penned one new PCTC at the Japanese yard while subsidiary Wallenius Lines has added another, tappin...
2010-10-14 07:35:28
Future: Not pessimistic [General]
In this year dramatic changes occurred in global container shipping market. Evergreen, Yang Ming and Wan Hai experienced huge loss last year to amazing profits now. Recently Evergreen announced new orders again. Did it mean the booming of container m...
2010-10-14 01:18:20
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