DSME inks 8 ethylene carriers [Shipbuilding]
South Korea's Daewoo Shipbuilding & Marine Engineering is continuing to win new orders. DSME president Nam Sang-tae and Singapore's Woodside Holding International Shipping president Roger Hagenes (shaking hands in the above picture) put pen to pat...
2010-08-27 10:33:57
Zim turns a profit [Shipping]
Zim parent Israel Corp swung to a net profit in the second quarter as container shipping results improved. It made $157m to 30 June, compared with a net loss of $157m the year before. Revenues were down however at $2.54bn, against $2.93bn in ...
2010-08-27 08:34:38
DSME to produce WT in Romania [Equipment]
Korean industrial giant Daewoo Shipbuilding & Marine Engineering could start producing wind turbines (WT) from a shipyard it owns in Romania, depending on European demand, officials say. Daewoo controls Daewoo-Mangalia Heavy Industries, which bui...
2010-08-27 08:33:09
Bergen mulls job cut [General]
Uncertainty over a series of newbuildings for Boa Offshore has once again raised the prospect of redundancies at Norwegian shipbuilder Bergen Group. Bergen Group Fosen was set to begin work on the first of the four anchor handlers for the Norwegi...
2010-08-27 08:31:04
GSI profit up, sales down [Finance]
Torrential rain, lack of berth space, slow shipping markets and new regulations could not hold back Guangzhou Shipyard International (GSI) in the first half as profit grew. It was a drop in administrative expenses and a rise in other income, howe...
2010-08-27 08:29:03
NOL issues $200m notes [Finance]
Neptune Orient Lines (NOL) is looking to raise over $200m through a notes issue to part-finance a massive boxship order splurge. The Singapore-listed liner behemoth is to issue SGD 280m ($206.66m) of notes with a 10-year term, it wrote in a bours...
2010-08-27 08:27:19
SFI buys supramax trio [Shipping]
Ship Finance International (SFI) has splashed out over $100m on a trio of supramax bulkers but remains coy on much of the detail. The John Fredriksen-controlled company announced the purchases as it unveiled a drop in second-quarter profit as rev...
2010-08-27 08:25:31
Cecon faces bankruptcy [Offshore]
Norwegian offshore owner Cecon says it may be facing bankruptcy if it fails to restructure debt and secure fresh financing for its newbuildings, according to a filing with the Oslo bourse. The grim report came a day after the Oslo-listed outfit a...
2010-08-27 08:23:44
Yangzijiang plots $143m IPO [Finance]
Yangzijiang Shipbuilding’s proposed Taiwan listing looks to have swelled with reports claiming it is eyeing over $140m. The total number of shares the Chinese shipbuilder was expected to sell in its much-touted initial public offering has also ...
2010-08-27 08:15:37
Flex LNG-FPSO funding trouble [Offshore]
Flex LNG has moved to quash fears that Samsung Heavy Industries could cancel a series of high-priced newbuildings as funds remain scarce. The Oslo-listed company said it has been given assurances by the South Korean yard that it has no intention ...
2010-08-27 08:13:43
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