Korean yards sew up Japanese steel plate nego [Equipment]
South Korean shipbuilders won the months-long negotiations with Japanese steel makers on shipbuilding steel plate prices for the July-September period. Industry sources say Hyundai Heavy Industries have finalized the negotiations with Nippon Steel...
2010-08-30 12:47:47
Frontline profits jump [Shipping]
Frontline has seen profits jump nearly three-fold from a year ago on the back of improved tanker rates. The tanker giant’s profits were just shy of $81.5m, or $1.04 per share, while revenues jumped over 25% to $356m. Shareholders in the Joh...
2010-08-30 08:23:55
Vinashin debt repayment to be suspended [Finance]
The Vietnamese government asked local commercial banks to allow the troubled state-owned shipbuilding firm Vietnam Shipbuilding Industry Group (Vinashin) to suspend payments on its debts, state media reported Friday Deputy Prime Minister Nguyen Sinh ...
2010-08-30 08:22:27
GSI adds yard capacity [Shipbuilding]
Larger handysize tanker newbuildings will soon be on the menu at Guangzhou Shipyard International as it clinches a land grab in China. The Hong Kong-listed builder is looking to alleviate a logjam of orders as well as chase higher turnover through ...
2010-08-30 08:19:53
STX signs LNG PSV pair [Offshore]
Island Offshore has inked another brace of platform supply vessels (PSVs) at STX Europe. Havard Ulstein-led Island will pay NOK 900m ($143.49m) for the newbuildings. The order is on speculation at the present time but he intends to tie the ve...
2010-08-30 08:17:30
Blount bags ferry order [General]
State-controlled ferry owner Casco Bay Lines (CBL) is tapping into federal stimulus money to fund a newbuilding penned at US shipyard Blount Boats. CBL says it is on the fringe of forking over $3.5m to the Rhode Island-based shipbuilder for the c...
2010-08-30 08:15:57
Conrad wins new orders [Shipbuilding]
US shipyard Conrad Industries has boosted its backlog after landing a series of deals to build barges and tow boats. Pink Sheets-listed Conrad says it has secured orders for a pair of 30,000-barrel double-skin tank barges, two inland towboats, a ...
2010-08-30 08:14:04
STX buys Canadian gas block [Equipment]
South Korea's STX Energy has acquired a 100% stake in Maxhamish gas production block, located in northwest of Canada, for $152m from Canada's EnCana. The gas field's reserve is estimated at 120bn cubic feet. STX Energy expects the block to prod...
2010-08-30 07:23:04
SCI plots shipbuilding entry [Equipment]
State-owned Shipping Corp of India (SCI) is said to be looking to fill the vacuum left by a government decision to drop plans to build three state-backed shipyards. Sources say Mumbai-based SCI wants to develop a greenfield yard that is expected ...
2010-08-30 07:12:51
VLGC newbuilding prices rise [General]
Newbuilding prices for very large gas carriers (VLGCs) are on the rise. Trader Petredec is reportedly in the process of inking an order for two 82,000-cbm ships at Hyundai Heavy Industries at $76m each. The price has come down some 19% from two...
2010-08-30 07:09:33
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