Jinhai wins foreign ship order [Shipbuilding]
China's Jinhai Heavy Industry has secured its first foreign newbuilding contract in two years. Sources familiar with the yard, previously known as Zhoushan Jinhaiwan Shipyard, say Greek owner PL Shipping has booked one firm 80,000-dwt bulker for ...
2010-08-13 10:48:53
Ciner mulls inking VLCCs at Bohai [Shipping]
China’s Bohai Shipyard received an order for four suezmax tankers from Turkey's Ciner group. In May the Istanbul-based owner had signed a letter of intent to build up to six 163,000-dwt tankers at Bohai. Ciner chief executive Vasileios Papak...
2010-08-13 10:44:17
Capesize on a hot streak [Shipping]
Average daily spot earnings have almost doubled week-on-week for capesize vessels, while levels paid for rounds in the Pacific have tripled to $32,000/day as China regains its appetite for iron ore. The Baltic Dry Index rose 7.5 percent yesterday...
2010-08-13 07:58:58
KG house HCI sees hope of revival [Finance]
HCI Capital hopes to remove a near $2bn black cloud which has been hanging over it since the onset of the financial crisis after completing another stage in its restructuring. The KG house believes it will be released from liabilities of EUR 1.5bn ($...
2010-08-13 07:56:30
Half of ship orders to slip [General]
“Disaster” looms for the shipping industry if all ordered newbuildings make it onto the water as planned, according to STX Pan Ocean. The South Korean owner believes, however, that this doomsday scenario will be avoided by up to half of all n...
2010-08-13 07:50:55
STX orders first PSVs [Offshore]
STX Pan Ocean is making its debut in the offshore vessel market with an order for three newbuildings. The South Korean diversified shipowner has, however, remained mum on much of the detail of its move into the sector. Singapore-listed STX ha...
2010-08-13 07:46:49
Dockwise mulls ordering newbuild [Offshore]
Dockwise is mulling an order for a semi-submersible heavy transport vessel as the outlook for the offshore market improves. The Dutch offshore support vessel owner did, however, post a weaker set of second-quarter results as revenues fell and cost...
2010-08-13 07:43:52
ESL secures €25m ship loan [Finance]
Finland's ESL Shipping has landed a EUR 25m ($32.1m) loan to help finance a pair of Korean-built supramax newbuildings. The Helsinki-based owner says it penned the 12-year pact with Pohjola Bank, according to a statement issued Thursday. The ...
2010-08-13 07:36:05
Cosco inks two handies [Shipbuilding]
Cosco Corp (Singapore) has won an order for two handysize bulkers to continue its recent good run. An unidentified Asian shipowner is behind the contract for the 35,000-dwt twins, a statement to the Singapore Stock Exchange says. It will pay ...
2010-08-13 07:29:53
PPL M&A skirmish continues [Offshore]
A High Court judge in Singapore has rejected PPL Holdings' bid to reinstate an insider to the board of PPL Shipyard. The ruling came amidst a heated legal battle between Sembcorp Marine and PPL Holdings over the sale of a 15% yard stake to a cons...
2010-08-13 07:25:33
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