Petrobras secures $1.25bn loan [Finance]
Brazil state-run energy company Petrobras said on Tuesday that it had taken a 2.2 billion real ($1.25 billion) loan from state-run bank Banco do Brasil in June, underscoring its need for cash amid a delay of a large stock offering. "In June of 20...
2010-08-25 08:27:44
COSCO starts deep-water drillship [Offshore]
Construction of the world's largest deep-water oil drilling vessel has started in northeast China's Liaoning Province. Under a contract signed with Germany's Deutsche Verkehrs-Bank (DVB), COSCO Dalian Shipyard is building the "Dalian Pioneer" in ...
2010-08-25 08:25:16
STX signs CVC [Shipping]
STX Pan Ocean has won a 15-year consecutive voyage contract (CVC) to ship coal from Australia to South Korea. The deal has been secured with Korea South Power Co and is worth an estimated $210m, the shipowner said Tuesday. The dual-listed shipown...
2010-08-25 08:17:03
Titan posts loss [Finance]
Titan Petrochemicals has reported a first half loss of HKD735m ($94.5m) compared to a loss of only HKD54m a year ago. The Hong Kong shipbuilder and storage specialist’s results were impacted by losses of HKD385m on the sale of three VLCCs. ...
2010-08-25 08:15:16
Havyard secures PSV [Offshore]
Supply Service has turned to Norway's Havyard Group for another platform supply vessel (PSV) newbuilding. The Faroe Islands based company will pay over NOK 300m ($47.67m) for the ship only two months after placing another order at the same yard. ...
2010-08-25 07:25:45
Rongsheng confirms VLCC order [Shipbuilding]
George Economou’s Cardiff Marine has finally been confirmed as being behind an order for a pair of VLCCs at a privately-owned Chinese yard. Jiangsu Rongsheng Heavy Industries on Tuesday said the Greek had signed up for the two 320,000-dwt tanke...
2010-08-25 07:16:52
Eitzen eyes dry-bulk fall [Shipping]
Eitzen Bulk tips dry-cargo rates to decline going forward despite tweaking its forecast for the number of newbuildings set to enter the market this year. Copenhagen-listed Eitzen Bulk “realistically” expects 76 million dwt of fresh capacity to...
2010-08-25 07:12:00
Frontline to soar in Q2 [Shipping]
Frontline is tipped to post a sharp rise in second quarter profit when it unveils its figures later this week. The world’s largest VLCC owner is set to card a bottom line of $60m in the three months to the end of June, shattering the $28m bagge...
2010-08-25 07:09:36
STX inks icebreaking tugs [Shipbuilding]
STX Norway Offshore has secured an order from Kazakhstan's JSC Circle Marine Invest worth over $70m. The contract for two icebreaking tugs takes STX’s order backlog with the Kazakhstani shipowner to five. STX will build the tugs at its Brai...
2010-08-25 07:05:47
SWS wins VLCC pair [Shipbuilding]
Hong Kong's Wah Kwong Shipping Holdings is ordering a pair of new very large crude carriers at China's Shanghai Waigaoqiao Shipbuilding (SWS), foreign media reports. Company boss George Chao confirmed that Wah Kwong will sign a contract with the ...
2010-08-25 07:02:33
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