STX gives up Daehan acquisition [Shipbuilding]
South Korea's STX Corporation president Kim Dae-yoo said that the company has given up acquiring Daehan Shipbuilding as they believed the move has little attraction in business terms. He said STX management had judged that the investment would bri...
2010-09-03 07:58:23
Big4 eye Nigerian LNG spree [Offshore]
Nigerian National Petroleum Corp subsidiary Brass LNG is to send tender documents to South Korean large shipbuilders early this month in a bid to order up to 12 LNG carriers of three different sizes including 155,000 cbm class. Newbuilding price i...
2010-09-03 07:44:43
Green issues 'top priority': KR [General]
Environment issues led the agenda at this year’s Seoul International Maritime and Shipbuilding Conference (SIMS) staged by the Korean Register of Shipping (KR) in Seoul on September 2nd. Opening the conference Mr Oh Kong-Gyun, chairman and ceo o...
2010-09-03 07:19:39
Aker Phil delivers tenth PC [Shipbuilding]
Aker Philadelphia Shipyard, a leading U.S. commercial shipyard, delivered to American Shipping Company its tenth Veteran Class MT-46 product tanker. The 46,000 dwt vessel, named the Overseas Anacortes, will leave the shipyard in the coming days u...
2010-09-03 07:14:46
Dry bulk market gains momentum [Shipping]
The dry bulk market, as observed through the industry’s benchmark, the Baltic Dry Index (BDI), seems to be regaining its positive edge to rise to 2741 points, or by 28 points. For the most part, this increase was attributed to the rapid increas...
2010-09-03 07:12:58
GEMC sets tanker buy targets [Shipping]
A new Taiwanese tanker venture aims to acquire six VLCCs and a products carrier for $700m. The figure was revealed by CK Ong, president of one of its shareholders, domestic shipowner U-Ming. Global Energy Maritime Corp (GEMC) was formed earli...
2010-09-03 07:10:30
Yang Ming turns around [Shipping]
Taiwanese container line Yang Ming has followed other owners in posting improved earnings from better box markets. The company said net profit was TWD 2.71bn ($84.71m) in the six months to 30 June, against a deficit of TWD 6.93bn in the same peri...
2010-09-03 07:08:52
Horizon Shipbuilding wins [General]
US yard group Horizon Shipbuilding has emerged as the winner in a fight to seal an $8.7m order inked by the US military. Alabama-based Horizon says the Mississippi division of the Army Corp of Engineers is behind the contract for the construction...
2010-09-03 07:06:31
Wan Hai rides high [Shipping]
Wan Hai Lines is increasing earnings in 2010 after recovering from a dire previous year. The containership owner from Taiwan said it made TWD 1.66bn ($51.79m) on a net basis in the six months to 30 June, compared to a loss of TWD 1.2bn in the sam...
2010-09-03 07:04:05
Kleven inks OSV pair [Offshore]
Kleven Maritime has signed for two newbuildings for over $120m with Stig Remoy. Remoy’s Olympic Shipping has penned one firm order for a multi-purpose field supply & construction vessel at the Norwegian yard with an option for a second. Sta...
2010-09-03 07:02:32
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