Majors' orders shoot up [General]
South Korean large shipbuilders have won much more newbuilding orders this year compared to 2009 when new ship orders almost ground to a halt due to global financial crisis. 'Big 3', namely Hyundai Heavy Industries, Samsung Heavy Industries and Da...
2010-08-25 06:52:27
Warning: Blind order intakes! [Equipment]
In market recession the order became scarce resources. The price is always the focus during negotiation between shipowners and shipyards. Sometimes the shipyards will reduce their quotations to catch orders even if it seems few profit. In the con...
2010-08-25 01:05:50
S&M yards face finance dilemma [Finance]
An insider revealed that a ship trade company located in Shenzhen China secured bank guarantee issued by HSBC bank, as much as €500m. The company was searching for suitable shipyard for cooperation in South China. Many local small and medium shipya...
2010-08-25 01:04:50
Dredger market booms [Offshore]
Currently global ship market is hanging around bottom. The shipowners are bothered by finance while shipbuilders faced order drought. By contrast, the dredger market is booming without any delivery delays and cancellations. In the past ten years, ...
2010-08-25 01:03:54
STX appoints new bosses [General]
South Korea's STX Group announced new executives appointment on August 24th by appointing new leaders at STX Corporation and STX Offshore & Shipbuilding. STX Europe vice-president Shin Sang-ho (above) was named as president of STX Offshore & Shipb...
2010-08-24 12:14:27
DSME signs $1.81bn FPSO [Offshore]
South Korea's Daewoo Shipbuilding & Marine Engineering has put pen to paper on a contract to build a floating production, storage & offloading unit. DSME president Nam Sang-tae and Energy major Total president Philippe Chalon signed the $1.81bn co...
2010-08-24 11:44:46
CSAV mulling building 8,000TEU's [Shipping]
Chilean owner Compania Sud Americana de Vapores (CSAV) is planning to construct five 8,000-TEU containerships. Delivery is slated for 2012-2013 and candidate yards for CSAV's orders include Korean Big 4 and Yangzijiang, Hudong-Zhonghua, Chengxi a...
2010-08-24 10:49:11
Rongsheng enters VLCC [Shipbuilding]
Chinese biggest shipbuilding group in Jiangsu Rongsheng Heavy Industries has bagged an order from Greek Cardiff Marine for the construction of two 320,000-dwt VLCCs. This is the first time that Jiangsu Rongsheng has built a VLCC, while it has bec...
2010-08-24 10:40:45
Tanker owners return to spot market [Shipping]
Some tanker owners have re-emerged in the spot market to trade idle vessels despite the continued crash in rates. VLCCs hauling cargoes from the Middle East to Asia were fetching around $16,400 per day on average, representing a 25% slip compared...
2010-08-24 08:26:24
Chinese fear of market collapse [General]
It is reported that although the shipbuilding industry appeared booming in the first half in China with incremental orders four times that of the same period of last year, there is dreary outlook for the second half. China Business News reported ...
2010-08-24 08:24:26
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