BDI approaches 3,000p mark [Shipping]
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a high, as a result of increased iron ore buying from Chinese steel mills. The industry’s benchmark, th...
2010-09-07 08:36:05
New Western wins tankers [Shipbuilding]
Bangladesh's New Western Marine Shipyard (NWMS) has won an order for two small tankers from domestic owners. The 1,200-dwt and 1,500-dwt ships will be built for Padma Oil and Jamuna Oil respectively. The total cost of the coastal vessels is B...
2010-09-07 08:33:31
PPL stake sale amended [Finance]
Baker Technology has lowered the price it will accept for its stake in Singapore’s PPL Shipyard by 25%. The company is now asking for $116.25m for PPL Holdings (PPLH), whose only asset is a 15% in the rig-building specialist. The price redu...
2010-09-07 08:31:48
More Vinashin executives arrested [General]
Four more Vinashin executives have been arrested as Vietnam continues its probe into the near-collapse of the state-owned shipbuilding group. The arrests were made on Friday and included two former board members, Tran Quang Vu and Tran Van Liem, ...
2010-09-07 08:29:22
STX Finland workers face lay-offs [General]
Any temporary lay-offs among workers at STX Finland's Turku shipyard will be lengthy, according to the company's president Juha Heikinheimo. He told reporters that the shipyard is facing difficult times, having made 430 employees redundant in Jan...
2010-09-07 08:26:37
SHI cruiseship contract delayed [Shipbuilding]
Samsung Heavy Industries' $1.1bn cruiseship contract signing is being delayed to the end of this year. The South Korean shipbuilder and Utopia Residence of the US had signed a letter of intent in November last year to build a 100,000-gt apartment-...
2010-09-07 07:28:03
Turkey signs UN scrapping convention [General]
Turkey has signed up to the United-Nations-backed treaty on the environmentally friendly recycling of ships. The country, one of the five big scrappers worldwide, has adopted the Hong Kong International Convention for the Safe and Environmentally...
2010-09-07 07:11:17
Hellenic mulls newbuilding [Shipping]
Hellenic Carriers could be in the hunt for more tonnage after letting a kamsarmax newbuilding option slide. Fotini Karamanlis, the Greek bulker owner’s chief executive, has, however, ruled out chasing capesize buys. London-listed Hellenic h...
2010-09-07 07:07:12
Hyundai wins VLCC trio [Shipbuilding]
Greece's Athenian Sea Carriers has returned to Hyundai Heavy Industries in South Korea with a follow-up order for three very large crude carriers. Sources confirm that the Minos Kyriakou-led company has booked two firm 317,000-dwt tankers with on...
2010-09-07 07:03:19
Noreq signs new orders with HHI [Equipment]
The last couple of weeks have been very uplifting for Noreq AS, with several big contracts being signed - worth a total of NOK 22m ($3.6m). In addition to the size of these contracts Noreq has managed to enter new important markets. The Norweg...
2010-09-07 06:58:12
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