HMM debt financing [Finance]
The parent of Hyundai Merchant Marine (HMM) is facing a crunch week over its debt financing. Creditor banks of Hyundai Group are expected to decide this week whether to roll over maturing loans after it refused to restructure its borrowings, the ...
2010-07-29 07:21:14
Lamprell wins drilling rigs [Offshore]
Lamprell, the UK listed offshore yard group, has won orders for up to four jack-up drilling rigs potentially worth $634m. The order, placed by Abu Dhabi-based National Drilling Company (NDC), is for two firm orders plus options for a third and fou...
2010-07-29 07:18:05
Davie in need of cash [Finance]
Canadian shipbuilder Davie Yards boasts a billion-dollar backlog but it is still fighting to stay afloat, sources say. Toronto-listed Davie owes over CAD 60m ($57.9m) to nearly 300 creditors and local media reports say the company could shut its ...
2010-07-29 07:14:55
Chinese face cost soaring [Shipbuilding]
In spite of rich orderbook for the next three years, China’s Jinling shipyard still faces severe challenge, namely cost surging. ‘The shipbuilding industry is influenced by many external factors but the cost price surging is extremely importa...
2010-07-29 07:11:34
Boxship prices surge [Shipping]
According to Clarkson statistics, last year the average price of a five years old 1700TEU boxship was around $14m, which was just 50% of that in 2007. However, in last quarter of this year, it increased by 26%. Referring to Alphaliner statistics,...
2010-07-29 07:11:06
Taizhou: Bye to huge profits time [Shipbuilding]
Currently Taizhou is one of the largest private shipbuilding bases in China. As a result, the people in Taizhou really focus on ship market trend, just as they concentrate on other investing market like real estate. Several years ago numerous Tai...
2010-07-29 07:10:06
MAN's turbocharger cut-out retrofit [Equipment]
In the last six months, the turbocharger cut-out solution has attracted great interest from shipowners and managers as the solution has proven its worth during tests and installations. As a response to the needs of the shipping market for a more ...
2010-07-29 06:52:56
Sarkozy visits St Nazaire yard [Shipbuilding]
STX Europe subsidiary STX France's Saint Nazaire Shipyard continues to gain the favor of France government and is expanding its business stably. French President Nicolas Sarkozy visited the shipyard on July 23rd to have a look around the shipbuild...
2010-07-29 06:45:48
Samsung profit up 42% [Finance]
Samsung Heavy Industries posted revenue of KRW 3.0348trn ($2.56bn), operating profit of 259.7bn and net profit of KRW 218.6bn for the second quarter of this year. Revenue fell 6.1% from a year earlier but operating profit and net profit jumped 12....
2010-07-29 06:41:17
DSME inks African car ferry [Shipbuilding]
Daewoo Shipbuilding & Marine Engineering has won an order for a Night Car Ferry. The South Korean shipbuilder signed a contract with Tunisia's state-owned shipping company Compagnie Tunisienne de Navigation (COTUNAV) in Tunis on July 26th to build...
2010-07-28 11:57:16
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