Seabulk buys supramax resale [Shipping]
Oslo-based Seabulk is expanding its fleet of supramaxes buying a fourth ship under construction at Dayang Shipbuilding in China. The 53,000-dwt bulker is understood to be a resale for delivery on 28 September and set to be named Skomvaer. Deliver...
2010-09-06 07:07:44
Worst is yet to come [Finance]
Overcapacity is looming and the real pain of the downturn has yet to be felt, reckons one Chinese yard supremo. A leading shipyard boss says he expects a radical shake-up of China’s shipbuilding industry as it reacts to the challenge of overcap...
2010-09-06 07:03:30
Japanese suffer as yen rises [Shipbuilding]
Shipbuilders are looking at once again being forced out of the newbuilding market as the yen hits a high. Japanese shipyard managers returning from their summer holidays refreshed for an autumn marketing campaign have been dealt a cruel setback b...
2010-09-06 06:59:15
Shanghai pens 3,800TEUs [Shipbuilding]
Liner player Hamburg Sud has become the first German company to order boxship newbuildings since the market downturn. Industry sources say the company has booked eight 3,800-teu vessels at Shanghai Shipyard for delivery in 2012 and 2013. The orde...
2010-09-06 06:57:07
Yangzijiang inks boxships [Shipbuilding]
Bulker specialist Torvald Klaveness is investing further in containerships. The Norwegian company, which was said to have paid a near 30% premium for a 1,740-teu vessel in March, is forking out around $240m on newbuildings. Informed sources s...
2010-09-06 06:51:52
China closer to 'No 1' [Shipbuilding]
China now has the largest orderbook in the world, totalling 189.8 million dwt as of 1 August 2010. It leads South Korea on 159.3 million dwt and Japan — the world’s biggest shipbuilding nation until as recently as three years ago — ...
2010-09-06 06:49:00
COSCO boosts working capital [Finance]
China COSCO Holdings Co Ltd, the largest shipping company in the country, has announced that it will issue RMB 5 billion in ten-year notes on the interbank market. The company said in a statement that this batch of notes will be issued at face va...
2010-09-06 06:44:22
Four ro-ro ships to recycle in China [General]
Wilh. Wilhelmsen has sold four of its car carriers to China for recycling. Since the market for vehicle carriers collapsed in 2008, the ships have been surplus. The ships are the Tampere (built in 1979 as Barber Nara), Tapiola (built in 1978 ...
2010-09-06 06:42:03
Shipping pain to last [Shipping]
John Fredriksen has predicted pain ahead in the shipping markets but is expecting rates for offshore drilling rigs to blossom. Speaking in Norway today the shipping magnate warned there “won’t be much money to earn” in the industry over the...
2010-09-06 06:39:46
Croatian yards sale ongoing [General]
Croatia’s long-awaited sale of ailing shipyards remains on track as it attempts to seal its entry into the European Union. Bids received earlier this year for the struggling, subsidised shipbuilders remain in place, according to the country’s...
2010-09-06 06:37:37
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