SPP wins RG support [Finance]
SPP Shipbuilding and SPP Plant & Shipbuilding have secured refund guarantee (RG) worth about $260m which is for 12-ship newbuilding contracts finalized this year. Creditor banks of the South Korean shipbuilders, including Korea Eximbank, Korea Tra...
2010-08-10 06:37:45
STX sets to Daehan M&A [Finance]
South Korea's STX is said to be finalizing discussions with Daehan Shipbuilding's creditor banks to take over the shipbuilding company. An official from STX said, "Discussions with Daehan creditors are almost being wrapped up and an acquisition de...
2010-08-10 06:34:21
New Century to set up R&D center [General]
China’s New Century Shipbuilding is preparing to establish research and development center in Shanghai. The first job of the centre is to design on four 320,000dwt VLCCs, which were secured by New Century not long ago. It is the largest tanker orde...
2010-08-10 01:04:55
Jinhai awaits next 'mega order' [Shipbuilding]
Last year Grand China Logistics (GCL) ordered 51 bulk carriers and tankers at Jinhai Heavy Industry (then Zhoushan Jinhaiwan Shipyard). Now the first of them has been launched in June of this year. An insider revealed that GCL was planning next st...
2010-08-10 01:03:55
NITC to order 12 VLCCs [Shipping]
Iranian NITC said in Tehran that they gained a huge loan from Chinese banks in August of 2009, to the tune of $1.2bn. NITC intends to build 12 VLCCs in two Chinese shipbuilders. Chairman of NITC expressed that the loan mostly came from China E...
2010-08-10 01:02:36
STX wins 2nd Noble drillship [Offshore]
STX Offshore & Shipbuilding has won the first drillship newbuilding order this year. The South Korean shipbuilder announced today that it signed a contract with Noble Drilling Holding of the US on August 6th to build a drillship hullside for $250m...
2010-08-09 12:00:58
Hitachi Zosen profit falls [Finance]
Japan's Hitachi Zosen has seen its first quarter profit fall away. The co-owner of Universal Shipbuilding Corp banked JPY 1.43bn ($16.6m) in the three months to the end of June, compared with JPY 2.52bn a year earlier. Hitachi says revenue fe...
2010-08-09 08:22:51
Vinalines acquires 36 ships [Shipping]
Vietnamese owner Vinalines has taken over 36 vessels from debt-laden state-controlled sister outfit Vinashin, but says many are not up to scratch. The company’s chairman Duong Chi Dung told reporters: “Vinalines has taken over two transport f...
2010-08-09 08:20:29
Hudong-Zhonghua inks panamax duo [Shipbuilding]
Hudong-Zhonghua Shipbuilding of China has secured two panamax bulkers from Iolcos Hellenic of Greece. The two 76,000-dwt bulkers are slated for delivery in October and December 2010. No price has been revealed for the order but sources close t...
2010-08-09 08:18:04
Gdynia may win WT installation vessels [Offshore]
Poland’s Gdynia Shipyard will live to fight another day if compatriot builder Crist is confirmed as having snatched from competitors in Germany an order from Beluga Hochtief Offshore for two newbuildings together costing around EUR 400m ($520m). ...
2010-08-09 08:08:17
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