MAN to supply engine set for Fjord Line [Equipment]
MAN Diesel & Turbo continues to seek out opportunities in a difficult market and recently signed a supply contract with Norwegian shipbuilder, Bergen Group Fosen, in Rissa, Norway. Under the terms of the deal, MAN Diesel & Turbo will supply eight...
2010-07-20 07:47:24
Chinese ink five 76K BCs [Shipbuilding]
Chinese bulker owner Dongguan Haichang Shipping is rapidly expanding its fleet with panamax bulkers at a rumoured price that, it is claimed by market sources, signal “hard times ahead”. The privately owned shipping company has booked five 76,...
2010-07-20 07:43:46
Tuzla toll keeps rising [General]
Another shipyard worker has died at Istanbul’s notorious Tuzla complex. The death of Nurettin Bingol, a 36-year-old father of two, brings the number of fatalities in the area to 136 since the 1980s. Bingol broke his neck when he fell out of...
2010-07-20 07:40:30
Mosvold wins Otto refund [Finance]
Norway’s Mosvold Supply looks to have finally come up trumps in a topsy-turvey dispute with shipbuilder Otto Marine. Mosvold has been looking to claw back a $26m refund guarantee after canning an order for an anchor handler at the yard in May. ...
2010-07-20 07:38:54
Indian higher than Chinese [Offshore]
India’s ABG Shipyard has revealed it was a price dispute that ended its deal to build two optional offshore ships for Maridive of Egypt. The company said it was continuing to build two anchor-handlers for the owner, but optional contracts for s...
2010-07-20 07:36:40
Asian builders buck weak trend [Shipbuilding]
Demand for new vessels has started to wane on the back of increasing shipyard costs, although Asian shipyards continue to receive significant orders. The average cost of a new 300,000-dwt very large crude carrier (VLCC), although around 13% lower...
2010-07-20 07:32:13
EC allows Malta recruitment decisions [General]
The European Commission has refuted claims by Labour MEP Edward Scicluna that the government or the italian company that bought Malta Shipyards breached EU laws by not taking on board the workers that remained. Replying to a parliamentary question...
2010-07-20 07:30:08
Navios 7-VLCC deal [Shipping]
Navios Maritime Acquisition has made a near $600m entry into the VLCC sector. The New York-listed company has snapped up seven VLs from Fred Cheng only weeks after wrapping up a $460m tanker swoop. Navios Acquisition will tap a $453m loan to cove...
2010-07-20 07:27:15
Bulker scrapping rises [Shipping]
Falling dry freight rates have prompted more bulker tonnage to make its way onto the demolition market. Cyprus Maritime is said to have sold its 139,469-dwt Cape Athens (built 1981) for an undisclosed fee. US cash buyer GMS said the Greek-own...
2010-07-20 07:23:17
Koreana face downgrade [General]
A negative view of the prospects for South Korea’s shipbuilding industry is taken by HSBC in a wide ranging review. HSBC said it was turning more cautious about the Korean shipbuilding industry, warning that shareholder value was at risk. N...
2010-07-20 07:21:17
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