VLCC to boost in 2010 [Shipping]
The recovery of Eurozone slows down. Chinese economy is kept on highway but it is decelerating. IMF speculated that Eurozone would become the weakness due to Europe's sovereign-debt crisis, whose growth rate of this year was expected at 1.0% and 1.8%...
2010-07-13 09:58:09
Comming up Sweet Spring [Shipping]
With freight rate climbing, the shipping market has shown sign of booming. Shipowners started a new round of fleet expansion. However, experts warned that the market was still very fragile while people should keep caution. The shipping industry t...
2010-07-13 09:57:20
Hyundai sets world No.1 record [General]
Shipbuilding giant Hyundai Heavy Industries (HHI) delivered its world record-setting 1,660th ship, the 22,500 m3 LPG carrier Gaz Providence, to Naftomar of Greece on June 29. HHI has retained its ranking as the world's No.1 shipbuilder in both quan...
2010-07-13 09:17:53
Chinese Export Rebound on May [Equipment]
China’s unexpected rebound in overseas shipments to a record last month may lose steam as the European debt crisis, a moderating U.S. recovery and yuan appreciation curb demand for goods from the world’s largest exporter. China’s overseas s...
2010-07-13 09:12:40
Asbestos found on newbuildings [General]
Asbestos has been detected on a number of recent newbuildings, despite a worldwide ban on its use on vessels constructed since 2002, according to a number of maritime industry sources. Both Turkish and Chinese shipyards allegedly continue to emplo...
2010-07-13 08:18:10
OOCL rate increase continues [Shipping]
Orient Overseas Container Line (OOCL) plans a second rate increase in a month on its Southeast Asia to Australasia trade. From 1 August rates from Singapore, Malaysia, Thailand, Indonesia, Vietnam, Cambodia, Philippines, the Indian Subcontinent a...
2010-07-13 08:14:27
CMA CGM posts strong performance [Finance]
CMA CGM looks to be in ruder financial health as it sets its sights on earnings of $1.8bn for the year, a report has claimed. The debt-ridden French liner giant appears to have built on a sturdy first-quarter showing to post a strong half-year re...
2010-07-13 08:12:43
Yantar starts research ship project [Offshore]
Russia’s Yantar shipyard has begun work on a new oceanographic research ship for the country’s defence ministry. The vessel has been designed by Almaz Central Marine Design Bureau and was ordered in February. The 5,200-gt ship will be rea...
2010-07-13 08:10:07
STX & Petrobras ink 8 LPG carriers [Shipbuilding]
STX Norway Offshore AS and Brazilian partner PJMR Empreendimentos Ltda has through its subsidiary Estaleiro Promar S.A entered into contracts for building of eight LPG Carriers at the new shipyard in Brazil. The value of the contract is approximately...
2010-07-13 07:40:01
Vinashin hands over Dung Quat [General]
Financially troubled Vietnam Shipbuilding Industry Group has been forced to hand over Dung Quat shipyard to PetroVietnam where it is building aframax tankers for the state oil and gas firm. Dung Quat Shipyard, with the capacity to build very larg...
2010-07-13 07:29:31
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