Ukraine shipyard liquidated [General]
Shareholders of Ukrainian shipowner Ukrrichflot have decided to liquidate Chernihiv shipyard, one of its shipyards. The company said the yard was used for repairing, refurbishing and modernising vessels, as well as building floating cranes. Ukrri...
2010-10-13 08:01:13
VLCC: Q4 recovery muted [Shipping]
Huge vessel oversupply is killing off the prospect of a fourth quarter rally in the VLCC market, Arctic Securities says. Slow steaming is providing some relief but a lack of floating storage contracts is keeping rates under strain, according to a...
2010-10-13 07:56:32
Fatal accidents in Bangla shipbreaking [General]
At least three workers were crushed to death and others have been injured in an accident at a shipbreaking facility in Bangladesh. The reported deaths at Sheema Steels Shipbreaking come at a time when the country’s ship-recycling industry remai...
2010-10-13 07:54:21
BC deliveries to hit all-time high in 2012 [Shipping]
A new report from BIMCO raises new alarming figures in terms of the continuous threat of oversupply in the dry bulk market, as a result of the high pace of new building orders. BIMCO’s shipping analyst Peter Sand says that the active fleet has ...
2010-10-13 07:50:00
Sembcorp wins $270m FPSO [Offshore]
SembCorp Marine has won a SGD351m ($268m) deal to convert an aframax tanker into an FPSO for Teekay Petrojarl Production. Conversion work, which will take place at Jurong Shipyard, will be carried out on the 105,896-dwt tanker Arc II (built 1985)...
2010-10-13 07:45:32
China vs. Korea: Bloodier fight to come [Shipbuilding]
China’s Jiangnan Shipyard is building a new dock. In 2015, the annual shipbuilding capacity of Jiangnan will be increased from 4.5m tons to 12m tons. At that time, Jiangyan may become the largest shipyard in the world, replacing South Korea's Hyund...
2010-10-13 01:15:11
Wan Hai: Oversupply 'potential risks' [Shipping]
Zhou Baizhi, who is general manager of Wan Hai Lines Limited, said the ocean shipping routes entered off-season. The freight rate was shocked. In spite of cut-throat competition, the growth of Asian trade still crowned of the world. In this quart...
2010-10-13 01:14:31
China shipbuilding rises [Shipbuilding]
As is reported earlier, Clarkson research statistics showed that Chinese order backlog had surpassed Korean and the gap was becoming larger. The report indicated that at the beginning of October Chinese orderbook reached 51.93m CGT, occupying 36....
2010-10-13 01:13:52
STX pens $1.4bn 13,000-teu ships [Shipbuilding]
STX Offshore & Shipbuilding announced today that it has inked a milestone contract with European shipowner to build 10 13,000-teu containerships including optional units, worth about $1.4bn in total. Asiasis reported last week that STX was rumored...
2010-10-12 12:23:20
SLS delivers 11 newbuildings [Shipbuilding]
South Korea's SLS Shipbuilding said Monday that it has successfully delivered the 45,000-dwt chemical tanker BUNGABALSAM to Malaysia International Shipping Corporation (MISC) on September 30th. The vessel, hull number S522, with a length of 174.0 ...
2010-10-12 08:38:21
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