Bulkers looking to up gains [Shipping]
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head towards another “winning” week for the industry’s main benchmark, the Baltic Dry Index (BDI). The index po...
2010-09-09 08:25:55
Yangzijiang jumps in Taiwan debut [Finance]
Yangzijiang Shipbuilding Holdings Ltd. jumped by the daily maximum after becoming the first China-owned company to list in Taiwan, underscoring investor demand as the two economies seek closer ties. The shipbuilder’s Taiwan depositary receipts r...
2010-09-09 08:23:28
U-Ming soars in H1 [Shipping]
Taiwanese bulker owner U-Ming has boosted revenue and profit in better markets. The company said net earnings in the six months to 30 June were TWD 4bn ($125.16m), up from TWD 2.52bn in the same period of 2009. Revenues climbed to TWD 1.13bn, aga...
2010-09-09 08:19:58
Rolls-Royce engine deal [Equipment]
Power systems giant Rolls-Royce has won a deal to supply engines to a new $61.5m Norwegian gas-powered ferry. It will also provide main azimuth thrusters for the double-ended ship, ordered by Fjord1 earlier this year. The vessel will be the world...
2010-09-09 08:17:51
Trade growth handles overcapacity? [Shipping]
"The overcapacity of global shipbuilding industry is so serious that it requires 7% shipping trade growth on average annually to deal with," said Dr Martin Stopford of Clarksons. The 7% growth absolutely exceeds the speed in the past 50 years. In ...
2010-09-09 01:03:39
Yangzijiang lists in Taiwan [Shipbuilding]
‘Finance is not our main purpose for TDR in Taiwan. We hope it is an opportunity to tap Taiwan market. It will be an win-win outcome for both Taiwan and Mainland China economy,’ said Ren Yuanlin who is Chairman of Yangzijiang Shipbuilding on Sept...
2010-09-09 01:02:36
Wenchong to defend boxship orders [Shipbuilding]
Having experienced ice age since global financial crisis broke out, the boxship market shows signs of recovery again. Li xi, who is assistant manager of Wenchong Shipyard, introduced that currently shipowners showed great interest and intention on...
2010-09-09 01:01:53
CSBC to find cheaper steel [Equipment]
General Tan Taiping of Taiwanese CSBC said the steel supply amount of Evergreen’s order was believed to hit 300,000t. So, he expected compatriot China Steel Corporation (CSC) could offer competitive price for smooth proceeding. Tan said 11 newbu...
2010-09-08 10:19:42
33% further down on Capesize? [Shipping]
Chairman Xu Zhijian of Taiwan Yili Shipping currently said in Taipei that they would not order Capesize ship immediately although the price dived at $60m now. It was expected to be decreased by 33% further for his satisfactory. He also predicted ...
2010-09-08 10:19:12
CMHI secures an order for TSHD [Shipbuilding]
CCCC Tianjin Dredging Company Limited signed contract with China Merchants Heavy Industry (Shenzhen) Company (CMHI), to build an 11,000m3 trail suction hopper dredger. The dredger is fitted with double engine, double sculls, double drag heads and ...
2010-09-08 10:18:35
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