Maersk cuts idle fleet [Shipping]
Maersk Line has sliced the size of its idle containership fleet. The world’s largest containership owner now has only four vessels in lay-up, its first-half report says. It reactivated five boxships in July, having had nine ships idle at the...
2010-08-19 08:21:53
Keppel wins FPSO job [Offshore]
Keppel Shipyard has landed a near $40m contract to modify a floating production storage and offloading (FPSO) unit owned by Brazilian billionaire Eike Batista. The shipyard will provide detailed engineering services and modify the topside process...
2010-08-19 08:19:38
Brightoil admits VLCC order [Shipbuilding]
Brightoil Petroleum has confirmed its plunge into the VLCC market with a near $540m newbuilding order. Brightoil will pay $107.5m each for five VLCCs. In a statement to the Hong Kong Stock Exchange Brightoil says the first four 319,000-dwt ne...
2010-08-19 08:17:57
Maersk buoyed by box bounce [Shipping]
AP Moller-Maersk has smashed forecasts in the first half of 2010 and is tipping its full-year profit to break the $4bn barrier. A stronger than expected recovery in container shipping rates and a rising oil price were behind its improved showing ...
2010-08-19 07:30:41
CSDC inks $420m bulkers [Shipping]
China Shipping Development Company has put pen to paper on contracts for 14 dry-cargo newbuildings worth over $420m. Shanghai and Hong Kong-listed CSDC says it has ordered a dozen 46,200-dwt bulkers and a brace of 53,000-dwt ships via two subsidi...
2010-08-19 07:27:58
Daesun H1 results plummet [Finance]
Daesun Shipbuilding & Engineering posted revenue of KRW 62.8bn ($53.5m), operating loss of KRW 47.5bn and net loss of KRW 66.1bn for the first half of this year, compared to revenue of KRW 191.9bn, operating profit of KRW 3.3bn and net loss of KRW 17...
2010-08-19 07:05:41
Equip makers recover, gradually [Equipment]
Shipbuilding equipment makers are starting to feel the recovery mood in the market, gradually. South Korean shipbuilders posted decent business results in the second quarter of this year and their order intakes picked up in the first half. Agai...
2010-08-19 06:59:47
Rongsheng wins $7.3bn credit [Finance]
China Eximbank and Jiangsu Rongsheng Heavy Industries Group signed strategic cooperation agreement. Rongsheng gained credit as much as $7.3bn. It is the largest sum ever in Chinese shipbuilding industry. In witness of the ceremony, Vice Governor ...
2010-08-19 01:02:51
COSCO's ‘Buy Fish’ philosophy [General]
Wei Jiafu is a smart man, who prefers to keep silence until the market slumps but still alive. In Piraievs, COSCO’s flag was raised on June 1st. From that day, COSCO took over the port. In the first half of 2010, Greek government issued privatiz...
2010-08-19 01:02:03
TSC offshore expands [Offshore]
In the past three years, TSC Offshore Group has owned 16 professional companies through merge and acquisition, including some giants such as 168-year-old British Ansell Jones, American Patriot and Deep Water System. TSC set up 15 sales agents and ...
2010-08-19 01:01:13
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