Datang expands fleet [Shipping]
Chinese electricity generator Datang Power is planning to significantly expand its shipping fleet to stabilise freight costs and become more self sufficient. The Hong Kong and London listed company which operates more than 50 generating stations ...
2010-08-24 08:22:36
Fred Olsen sends FSO to scrapyard [Offshore]
Fred Olsen Production has confirmed the scrapping of one of its floating storage and offloading (FSO) units. Oslo-listed FOP will book a $2m profit on the sale of the 128,000-dwt Knock Dee (built 1974) in its third quarter accounts. In a stat...
2010-08-24 08:21:03
Boxship entry next?: Navios [General]
Could container shipping be the next port of call for Angeliki Frangou’s Navios empire? The Greek owner made a $1bn entry into the tanker market this year via New York-listed Navios Maritime Acquisition and has been an active buyer of bulkers s...
2010-08-24 08:18:39
Yangzijiang boosts capacity [Equipment]
Yangzijiang Shipbuilding has paid out nearly $16m for a new shipyard site to further boost its capacity on the Yangtze River. Its purchase of a 147,253 square metre patch adjacent to its Jiangsu New Yangzi Shipbuilding facility comes less than a ...
2010-08-24 08:16:16
Todd lifts dividend [Finance]
Top brass at US construction outfit Todd Shipyards Corp has rubber stamped a plan to lift its quarterly dividend. New York-listed Todd says its board of directors have approved a boost of two and one-half cents per share, the company told investo...
2010-08-24 08:14:40
Cosco Dalian inks barges [Shipbuilding]
An unnamed Chinese shipowner has ordered a pair of deck barges at a Cosco-controlled shipyard. Cosco Corp (Singapore) says it stands to pocket $12m from the construction of two 15,000-dwt units, according to a filing with the Singapore Stock Exch...
2010-08-24 07:19:39
MODEC wins Petrobras FPSO [Offshore]
Brazil’s Petrobras has signed up for a floating production storage and offloading vessel in Japan in a deal worth $1.2bn. Mitsui Engineering & Shipbuilding’s offshoot Modec is to lease the vessel to Rio de Janeiro-based Petrobras for 20 years...
2010-08-24 07:17:17
Low-price deal? "No, thank you!": STX [Shipbuilding]
Talks between Evergreen Marine and STX Offshore & Shipbuilding over a huge boxship newbuilding order have collapsed. Evergreen was looking to pen between 10 and 12 8,000-teu newbuildings at the yard but the two companies failed to reach an agreeme...
2010-08-24 06:58:02
China: Competitiveness enters top3 [General]
On July 22nd, Chinese Academy of Social Sciences issued Blue Book of Chinese Industrial Competitiveness Report 2010. The Blue Book showed that the industrial competitiveness of Chinese shipbuilding enters global top3 club. The Blue Book introduced...
2010-08-24 01:35:58
Overcapacity to trigger storm [Shipbuilding]
Experiencing blind expansion, will Chinese shipbuilding industry dive shortly? It mostly depends on whether shipyards can carry out reform and re-structuring before winter comes. Overcapacity, bankruptcy storm, and governmental aid…; are we talk...
2010-08-24 01:35:13
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