Yangzijiang in M&A spree [Shipbuilding]
Yangzijiang Shipbuilding is in the hunt for more shipyards as a dire shipbuilding market in 2009 has driven prices down, a report has claimed. The acquisition-hungry yard group has already begun searching for targets to take over, Bloomberg repor...
2010-08-26 07:29:39
China Cosco back to profit [Shipping]
Booming box rates and a better dry-bulk market helped China Cosco Holdings pile on the profit in the second quarter. The positive figure continued the Hong Kong-listed owner’s climb out of the red and followed a profitable first period of the y...
2010-08-26 07:24:04
CSCL $675m profit swing [Shipping]
China Shipping Container Lines raced back into the black in the first half of 2010 following an improvement in the global economy. But the shipowner echoes the warning of rival Maersk Line in expressing uncertainty about developments in the contai...
2010-08-26 07:21:46
Shipping recovery ups Clarksons [General]
Clarksons has posted a 57% year-on-year increase in first half profits on the back of the recovery in the shipping markets. Profits for the first six months of 2010 came in at £12.4m ($19m) versus the £7.9m seen in the first half of l...
2010-08-26 07:16:41
Samsung FPSO order on ice [Offshore]
Nexus Floating Production has put an offshore newbuilding contract at Samsung Heavy Industries on ice as its financial woes continue. The Norwegian owner once again reported zero quarterly revenues and a modest loss as it did not operate ships in...
2010-08-26 07:12:56
Korea to reclaim No. 1 title [Shipbuilding]
South Korean shipbuilders are tipped to retake its global No. 1 position from Chinese rivals in terms of new order intake sooner or later. Seoul-based Daewoo Securities analyst Sung Ki-jong said, "Despite global new ship orders drought, Chinese sh...
2010-08-26 07:03:28
COSCO Shipping to buy seven MPPs [Offshore]
COSCO Shipping Company announced on August 24th that the group would splash out CNY650m ($96m) to purchase seven MPPs from Compatriot Guangzhou Ocean Shipping Company. The announcement expressed that the payment would be based on cash plus liabili...
2010-08-26 01:05:42
Chinese new orders surge [Shipbuilding]
According to statistics from China Association of the National Shipbuilding Industry (CANSI), from January to July 2010 Chinese output hit 35.2m dwt, rising by 87.4% on a year-on-year basis. The new orders reached 33.32m dwt, which was the 4.2 times ...
2010-08-26 01:04:45
Chinese faces pressure [Equipment]
China Shipbuilding Industry Corporation (CSIC) deputy manager Qian Jianping recently said in Beijing that generally the ship market stayed around low level. The statistics from China Association of the National Shipbuilding Industry (CANSI) showe...
2010-08-26 01:02:17
DSME signs Pipe-Lay Vessel [Offshore]
South Korea's Daewoo Shipbuilding & Marine Engineering is accelerating order intakes for offshore facilities by finalizing a pipe-lay vessel order right after signing an $1.81bn FPSO. DSME boss Nam Sang-tae and Heerema Offshore Services B.V. chief...
2010-08-25 12:13:39
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