HMD passes wage agreement [General]
South Korea's Hyundai Mipo Dockyard passed 2010 wage deal following the same move by compatriot Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering. HMD labor union members passed the wage collective agreement with 63.7% approval...
2010-07-22 07:29:34
HHI posts decent Q2 results [Finance]
The world’s largest shipbuilder, Hyundai Heavy Industries (HHI), has posted a better than expected quarterly profit. The South Korean company said there had been a strong recovery in ship and industrial plant orders. Net profit for the seco...
2010-07-22 07:12:32
DSME inks 10 8,400TEU's [Shipbuilding]
Daewoo Shipbuilding & Marine Engineering has won large containership orders for the first time since 2008, taking a big step forward to its annual order target of $10bn. The South Korean shipbuilder said Wednesday that it has signed a newbuilding ...
2010-07-22 06:36:03
China anxious on idle capacity [Shipbuilding]
Zheng Xinli, who is member of Chinese People’s Political Consultative Conference (CPPCC), said in Beijing that Chinese new orders clearly slumped since the second half year of 2009. The delivery delays and order cancellations frequently occurred. ...
2010-07-21 09:44:36
Ship finance reawakens [Finance]
Ship finance market seems to be recovering and waving to shipowners. The wars are restarted between banks, especially in Asian area. Paul Taylor, who is Supervisor of Societe Generale, said in Paris that competition had returned. Without any doubt...
2010-07-21 09:43:40
COSCO establishes modern ‘Silk Road’ [Shipping]
‘COSCO is establishing a complete network including ports, logistic centers and railways. In this way, COSCO is able to transport Chinese goods to Europe. The trade between China and Western countries will be boosted. Now, they’ve got a valuable ...
2010-07-21 09:42:52
Greek order spree unabated [Shipping]
There are no signs that the dry bulk freights slump of recent weeks has weakened Greek owners’ commitment to a spree of recently authored newbuilding projects, one of the country’s senior newbuilding experts said. George Banos of George Moundr...
2010-07-21 08:04:08
NOL wins $150m ship loan [Finance]
Neptune Orient Lines (NOL) has bagged a loan of $150m to partially pay for a pair of post-panamax boxship newbuildings. The Singapore-listed liner giant and subsidiary APL tied up the term loan deal on Tuesday, a bourse announcement read. ING...
2010-07-21 07:59:44
HMM sells SH VLCC [General]
Hyundai Merchant Marine has cut its single-hulled VLCC fleet after selling one of its tankers for conversion, brokers say. Seoul-based HMM is said to have fetched $26m for the 281,000-dwt Hyundai Banner. FPSO giant SBM Offshore has been toute...
2010-07-21 07:57:46
DSME signs $600m vessel [Offshore]
Daewoo Shipbuilding & Marine Engineering (DSME) is on the fringe of landing an order for a deepwater construction vessel (DCV). Dutch heavylift specialist Heerema Marine Contractors (HMC) has signed a letter of intent with the South Korean yard i...
2010-07-21 07:55:11
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