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China Strong & Anxious
[Shipbuilding]
Chinese shipbuilding industry has achieved amazing accomplishments in the past two years. China will become the world's No.1 shipbuilding country sooner or later. In spite of a severe blow during global financial crisis, China showed strong reboun...
2010-09-10 01:05:51
Fangyuan: Let customers be billionaires
[Shipbuilding]
In 2009, the output value of China’s Zhejiang Fangyuan Shipbuilding was increased by 80%. In April of this year, Fangyuan signed a huge order with Indonesian client totaling CNY5.0bn ($739m). It broke the record of single order value in Taizhou dur...
2010-09-10 01:05:10
SHI inks two more suezmaxes
[Shipbuilding]
Samsung Heavy Industries has contracted two more suezmax tankers with Greece's Cardiff Marine for delivery in the fourth quarter of 2013. “The yard numbers are 1949 and 1950 and they are scheduled for delivery in October and December 2013,” Ca...
2010-09-09 12:08:29
China inks 45 ships last month
[Shipbuilding]
China has won much more new ship orders than South Korea in August, CRS statistics show. South Korean shipbuilders won just 12-ship orders last month as they took long summer vacations and tried to back away from 'low-price' order intakes. Acco...
2010-09-09 09:12:14
Ship finance remains restrictive
[Finance]
Nordic Yards managing director and owner Vitaly Yusufov says the restrictive policy of most German banks over ship finance is preventing yards from securing refund guarantees or newbuilding credits. Those builders with just one or two facilities,...
2010-09-09 08:38:54
Shipbuilding faces 'bittersweet' aspect
[Shipbuilding]
The good news is business at yards, in terms of output, is booming but with a ‘bittersweet’ edge. Amid all the gloom shrouding world shipbuilding for the past couple of years there is also reason to celebrate, according to Martin Stopford. ...
2010-09-09 08:36:51
VLCC rates hit 10-month low
[Shipping]
Owners refuse to hire their ships at levels that effectively see them pay for crude transport. Frontline, AP Moller-Maersk and Iran’s NITC have removed their very large crude carriers from the spot market, according to brokers, with rates at 10...
2010-09-09 08:32:53
Bangladesh scrapping yards to reopen
[General]
There were signs of life from Bangladesh last week after months of inactivity, with local reports suggesting a Chittagong yard had obtained court clearance to begin importing scrap vessels again. The reports prompted speculation Bangladesh was poi...
2010-09-09 08:31:27
Vinashin set to report debt solution
[Finance]
The Government yesterday directed the State-owned shipbuilding giant Vinashin to report its existing bank credit debt and propose debt solutions. Vinashin must deliver the report by next Monday. Deputy Prime Minister Hoang Trung Hai instructed re...
2010-09-09 08:29:51
Xinyu rolls out 3,500mm plate
[Equipment]
Jiangxi Province-based Chinese steelmaker Xinyu Iron and Steel Group has announced that it has successfully produced shipbuilding plates of 3,500 mm width - the first time it has produced plate of this width since its plate production line was establ...
2010-09-09 08:28:34
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