Bourbon sells 16 bulkers [Shipping]
On July 22nd Paris-based Bourbon announced it would sell 16 bulk carriers to American Genco. The transaction totaled $545m. Meanwhile, Bourbon intended to invest $2.0bn to become a global marine service supplier in 2015. On Bourbon’s schedule...
2010-07-28 10:00:36
Chinese to face storm? [Shipbuilding]
Recently several Japanese and American large shipyards cut or quit shipbuilding business. Experts just regarded it as an initial signal. The storm is expected to come after 2012. Japanese sources reported on 25th that Mitsubishi Heavy Industries (...
2010-07-28 09:59:58
Chinese output to hit new high [Shipbuilding]
China Association of the National Shipbuilding Industry (CANSI) expressed on July 26th that Chinese shipbuilding output would hit 55m dwt this year, rising by 29.63%. The new orders were expected to reach 35m to 40m dwt, increasing by 34.62% to 53.85...
2010-07-28 09:59:29
Cecon secures $40m lifeline [Finance]
A Norwegian financier is on the fringe of pumping nearly NOK 250m ($40.6m) into troubled shipowner Cecon. The Oslo-listed offshore outfit says it has landed a letter of intent (LOI) from a "reputable" investor that is ready to fork over cash in e...
2010-07-28 07:51:53
Precious profit down [Finance]
A shrinking fleet and lower freight rates sent second-quarter profit plummeting at Thailand’s Precious Shipping (PCL). The Bangkok-quoted owner also saw gains from ship disposals slashed while some vessels came off time charters and had to be p...
2010-07-28 07:49:31
Aussie ore exports slow [Equipment]
Iron ore shipments from Australia’s Port Hedland were largely unchanged last month compared to May, latest figures show. Shipments were just under 15.3mt in June compared to just over 15mt in the month preceding it, an increase of only 2%. ...
2010-07-28 07:47:35
DP World throughput up [Shipping]
“Better than expected” first half volumes should see terminal operator DP World post a larger six-month net profit. The UAE-based port giant still expected full-year results to be in line with previous expectations as Asian and Australian mar...
2010-07-28 07:45:05
Northern appoints new head [Offshore]
Northern Offshore has picked an industry veteran to take up the reigns of chief executive at the John Fredriksen-backed company. Gary W Casswell, who boasts more than 30 years industry experience, has also been appointed to serve as president of ...
2010-07-28 07:42:27
GMS eyes offshore tonnage [Offshore]
Gulf Marine Services (GMS) may be on the hunt for offshore tonnage after forging a fresh alliance with Abu Dhabi Islamic Bank (ADIB). Government-backed ADIB says it has penned a deal to provide the shipowner with a AED 183.5m ($50m) Islamic-compl...
2010-07-28 07:40:38
Alma wins $387m ship loan [Finance]
Stamatis Molaris’s Alma Maritime has rebounded strongly from the disappointment of its failed bid to list in New York earlier this year by clinching a major syndicated loan covering its entire fleet. The $387m package, thought to be one of the larg...
2010-07-28 07:32:15
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