Neck-to-Neck Rivalry [Shipbuilding]
Chinese shipbuilders surpassed South Korean rivals by orderbook and newbuilding deliveries in the first half of the year, but both countries 'stand even' by new orders as in dwt terms, Korea won more fresh orders than China in the cited period, and i...
2010-07-20 06:58:13
DSME passes wage deal [General]
Daewoo Shipbuilding & Marine Engineering has settled on the 2010 wage collective agreement, reaching a peaceful settlement for the 20th consecutive year. DSME management and labor agreed on a tentative wage collective agreement for this year on Ju...
2010-07-19 15:32:58
Fujian output hit $1.31bn [General]
According to statistics, the gross industrial output value of shipbuilding in Fujian Province China reached CNY8.9bn ($1.31bn) in the first half year, rising by 13% against a year earlier. The new orders reached 110 ships valued at CNY9.75bn. The out...
2010-07-19 10:07:21
COSCON takes No.1 in Asia? [Shipping]
As a state-owned group, is COSCON able to pass financial crisis without government’s fiscal support? ‘We depend on ourselves. Our funds came from the accumulated profits and IPO listing during pre-crisis period. We never asked for a penny from...
2010-07-19 10:06:37
Chinese fragile new orders? [Shipbuilding]
Good news on Chinese shipbuilding is coming out one by one recently. At the end of June, Sinopacific gained a huge order including 62 new ships. At the beginning of July, Rongsheng signed four tankers. According to statistics of China Associat...
2010-07-19 10:05:52
ArcelorMittal orders 93K BCs [Equipment]
A fresh order for several post-panamaxes is expected to be delivered by 2011. Leading steel mill ArcelorMittal is brushing aside talk of too many ships in the market and ordering its own vessels in China with surprisingly prompt delivery. Wel...
2010-07-19 07:24:09
Hantong wins 8 kamsarmaxes [Shipbuilding]
Handymax and supramax specialist Jiangsu Hantong Ship Heavy Industry has diversified into constructing kamsarmax bulkers. The Sino-Korean-owned yard announced it has bagged four 82,000-dwt bulker order plus four options from a domestic owner. Jia...
2010-07-19 07:21:47
Chinese to win NTC VLCCs [Shipbuilding]
One of China’s largest tanker players is poised to boost its newbuilding orderbook with an order for up to eight VLCCs. A senior official at Nanjing Tanker Corp (NTC) said that the owner is looking to take advantage of favourable market conditi...
2010-07-19 07:19:16
HHIC to issue bonds [Finance]
Korean shipbuilder Hanjin Heavy Industries & Construction is going for a quick $50m bond sale to refinance debt. The Bloomberg news agency reported that unidentified sources said the dollar issue would be made in August. The two-year notes wi...
2010-07-19 07:16:50
Teekay LNG eyes $51m [Finance]
Teekay LNG has turned to shareholders for over $50m as it looks to build up its fleet. It will sell 1.7 million shares to institutional investors, a statement says. Cash from the offer will help fund newbuilding arrivals and second-hand buys....
2010-07-19 07:15:08
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