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Shipbuilding
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Price gap widening
[General]
The difference in newbuilding price offers from Korean, Japanese and Chinese shipbuilders continues to exist. There is more than a 10% price gap for the same ship type among high price group of Korean and Japanese major yards and low price group o...
2010-07-12 05:47:55
SK in talks with Hyundai for VLCC
[Shipbuilding]
South Korea's SK Shipping continues to splash out on new tonnage after recently spending close to $600m on tanker and bulker orders. Sources familiar with the company say SK Shipping has approached Hyundai Heavy Industries for four VLCCs with del...
2010-07-09 15:23:54
DSME fails in 8 Suezmax order
[Shipbuilding]
Former Frontline boss Bjorn Sjaastad recently revealed that the order for eight 160,000-dwt suezmax tankers at Daewoo Shipbuilding & Marine Engineering in South Korea had come to naught due to his inability to raise financing for the newbuildings. ...
2010-07-09 15:13:48
Low price: Pain of Chinese shiprepair
[Equipment]
It is known that low price of Chinese shiprepair is the focus. As early as pre-crisis period, it is caught by Chinese attention. China Association of the National Shipbuilding Industry has intended to raise the price level but finally failed. The...
2010-07-09 10:05:57
China Exim bank behind Sinopacific
[Finance]
As is reported earlier, Sinopacific recently signed contract with Bourbon to build 62 offshore ships. The Export-Import Bank of China (China Exim Bank) played a key role in this deal. China Exim Bank signed a finance frame agreement with Sinopacif...
2010-07-09 10:05:29
Chinese to face loss
[Shipping]
CNY devaluation is good news for airlines but it is a different story for Chinese shipping tycoons such as COSCO and China Shipping whose revenue mostly came from oversea market. It is known that USD settlement is international convention in globa...
2010-07-09 10:05:00
ASRY repair sales at $60m
[General]
Arab Shipbuilding & Repair Yard's ship repair sales reached $59.4m for the first five months of the year with 82 vessels repaired. At the 120th board meeting of the company last week, the directors were updated on progress on the USD 188 million ...
2010-07-09 08:35:10
CIMC Raffles plans rights issue
[Finance]
CIMC Raffles, the former Yantai Raffles Shipyard, is looking to raise up to $100m from a non-underwritten rights issue. It plans to issue 136.7m shares priced at 73.5 US cents each on the basis of one rights share for every two existing ordinary ...
2010-07-09 08:32:27
Szczecin assets draw six bids
[Finance]
Six bidders will take part in the latest auction of Poland’s Szczecin shipyard. The companies have lodged deposits entitling them to take part in the state sell-off of the yard’s assets, the third since the Polish government was ordered by th...
2010-07-09 08:30:55
Danish yard gets land compensation
[General]
Denmark’s Fredericia Shipyard has won compensation for leaving its site early. The shiprepair operation is moving to Maersk’s Lindo yard from next year after it learned its lease would not be renewed in Fredericia. The owner of the land i...
2010-07-09 08:29:29
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