VIKING welcomes Hygrapha aboard [Equipment]
Marine and fire safety equipment manufacturer VIKING Life-Saving Equipment A/S has agreed to acquire Hygrapha GmbH & Co. The move sees the two former competitors joining forces to strengthen capabilities, with a strong strategic presence in Germa...
2010-10-07 08:02:12
Idle boxship fleet to grow [Shipping]
The number of laid-up containerships is set to increase over the winter due to weakening demand, a leading industry consultancy has forecast. Alphaliner has predicted that between 600,000 and 1mteu of containership capacity could be idled by the ...
2010-10-07 07:59:25
Mitsubishi pens new slurry ship [Shipbuilding]
NYK has ordered a new specialist bulker at Mitsubishi Heavy Industries on the back of a renewed time charter contract. The 175,000-dwt bulker, which is due for delivery in 2012, will replace the 146,859-dwt bulker Taharoa Express (built 1990). NY...
2010-10-07 07:55:50
MISC shipyard IPO targets $660m [Finance]
MISC is looking to reap nearly $660m from the planned listing of its shipbuilding wing. The sum is an improvement on figures mooted last month for Malaysia Marine & Heavy Engineering’s initial public offering but well down on initial estimates ...
2010-10-07 07:52:06
"Crisis is not over", Polemis [General]
Prudence and patience are essential for the international shipping community as the tonnage oversupply situation continues to put pressure on the industry. The warning was issued by shipping stalwart Spyros Polemis as he opened the Greek Shipping...
2010-10-07 07:48:54
VLCC trouble to remain [Shipping]
Depressed rates in the VLCC market will linger, says Top Ships chief Evangelos Pistiolis. The current dip is caused by the fact the West has yet to experience a true economic recovery, so consumption of oil will stay low, he said. This is happe...
2010-10-07 07:46:01
Drydocks World inks PSVs [Offshore]
Tidewater has penned an order for four platform support vessels (PSVs) at Drydocks World's Indonesian shipyard. The New York-listed offshore owner said in a statement issued Wednesday that the 3,200-dwt ships will be built at a facility in Batam....
2010-10-07 07:44:32
Samsung to win $10bn orders [Shipbuilding]
Samsung Heavy Industries is forecast to win $10bn new orders this year and $12bn in 2011. UBS said "Samsung has grabbed 'more-than-expected' new orders so far this year by winning about $2bn containership orders from Taiwan's Evergreen among other...
2010-10-07 07:36:38
Chinese lead VLCC [Shipbuilding]
Chinese shipbuilders are increasingly entering VLCC newbuilding market this year, which Korean shipbuilders have dominated so far. Furthermore, Chinese yards are now showing signs of raising the newbuilding prices for VLCC. According to industry s...
2010-10-07 07:23:00
Chinese insurance to take off [Finance]
Marine insurance, namely China’s so-called Shipping insurance, has developed hundreds of years in the world. Statistics shows that global annual ship insurance hit $25bn. London took 23% of them while China just reaches CNY3.9bn ($580m) which se...
2010-10-07 01:42:59
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