Yangzijiang prices high: Taiwan IPO [Finance]
Yangzijiang Shipbuilding has priced its Taiwan initial public offering at the top end of the range but reports of a much-improved target figure were wide of the mark. The expansion-hungry yard group is looking to bag SGD 153m ($113.09m) from the ...
2010-09-02 08:14:00
Severnaya back to profit [Finance]
Russian shipyard Severnaya Verf has made it back to profit in the second quarter of 2010. The St Petersburg plant, which has just delivered a platform supply ship to a Norwegian owner, said earnings to 30 June were RUB 180.34m ($5.86m), up from a...
2010-09-02 08:10:59
Vinashin names new chief [General]
Nguyen Quoc Anh is the new man in the firing line at struggling shipbuilder Vinashin. Anh has been installed as acting chief after the suspension of Tran Quang Vu earlier this week. “I feel great pressures at this moment. I only know that a...
2010-09-02 08:07:21
CMA CGM turns around loss [Shipping]
French containership player CMA CGM has posted a profit for the first-half of 2010 as rising rates and cost-cutting helped boost the bottom line. The Jacques Saade-led owner banked $864m in the six months to 30 June, reversing a loss of $518m log...
2010-09-02 08:04:55
STX Europe Q2 earnings rise [Offshore]
STX Europe reported an EBITDA of NOK 205 million for the second quarter of 2010 which is an increase from NOK 75 million in the second quarter 2009. The Offshore & Specialized Vessels business area had a record EBITDA in the second quarter of NOK 298...
2010-09-02 07:27:34
Nanjing Tanker pens VLCC pair [Shipbuilding]
Chinese shipowner Nanjing Tanker Corp (NTC) has unveiled a plan to splash $200m on a pair of VLCC newbuildings. NTC says its freshly minted Hong Kong affiliate is ready to ink the order, but the company has not revealed which yard will build the ...
2010-09-02 07:21:43
Boxship fleet expansion speeds up [Shipping]
According to Alphaliner statistics, global boxship fleet rose by 1m TEU in the past nine months, standing at 4841ships of 14m TEU. It took 13.5 months from 12m TEU to 13m TEU before. At the beginning of this year, the boxship fleet was 4719 ships of ...
2010-09-02 01:04:09
Shipyards fight for PSPC [Shipbuilding]
Wang Guoping, who is an expert from China’s Hudong Zhonghua Shipbuilding, said Hudong was capable of dealing with the challenge of coming PSPC standards. However, PSPC was really a stumbling block ahead for most Chinese small and medium shipyard...
2010-09-02 01:03:21
Japan to quit shipbuilding in 10 years?! [Shipbuilding]
DryShips chief operating officer Pankaj Khanna pointed out that Japan might quit shipbuilding industry in ten years. On the other hand, Chinese shipbuilding industry would occupy Japanese territory by advantage of cheap labor cost. China has defen...
2010-09-02 01:02:31
Posco boosts plate production [Equipment]
Posco is about to complete new steel plate factory in Gwangyang this month and steel plate supply shortage problem in South Korea is expected to be resolved. Some even worry that over-supply situation could come if new facilities start production ...
2010-09-01 13:02:43
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