Siem secures newbuild fund [Finance]
Siem Offshore has collected over $50m from a private placement to help fund its Brazilian newbuilding orderbook. Chairman Kristian Siem contributed around one third of the funds with the remainder coming from institutional investors in Norway. ...
2010-07-08 08:33:11
Universal order talks ongoing [Shipbuilding]
Capesize orders could be on the cards at Universal Shipbuilding as it aims to strike newbuilding deals in the next few months. The Japanese yard giant could also be in the running to build large tankers for some existing customers, its chief exec...
2010-07-08 08:27:24
Humpuss seeking newbuild financing [Finance]
Troubled Indonesian owner Humpuss Intermoda Transportasi is seeking a $15m loan to buy tugs and barges. The company wants to boost its coal transport business. President director Bagoes Krisnamoerti said the company was likely to borrow from b...
2010-07-08 08:24:20
Nigerian $100m ship fund [Shipping]
Nigerian shipowners have begun their fight for a slice of a new cabotage ship fund. The country's government is making $100m available to boost the domestic industry through the Cabotage Vessel Financing Fund (CVFF). The four banks running the sch...
2010-07-08 08:22:06
BDI on worst run [Shipping]
The Baltic Exchange's main sea freight index fell to its lowest level in more than a year on Tuesday, hit by a slowdown in freight activity. The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fert...
2010-07-08 08:19:17
Vinashin boss facing punishment [General]
Vietnam Shipbuilding Industry Group, chairman Pham Thanh Binh, is facing punishment from the government for bringing the state-owned company to the brink of bankruptcy. From being a major success story breaking into international shipbuilding, Vi...
2010-07-08 08:16:03
Russia gets Pugachev shipyards [Finance]
Russia businessman Sergei Pugachev will sell stakes in major shipyards to the state as part of a deal restructuring 32 billion roubles in debt of his IIB bank, sources close to the deal told Reuters on Tuesday If the central bank and the state had no...
2010-07-08 08:13:57
JES inks six more BC's [Shipbuilding]
Jiangsu Eastern Shipyard has bagged six more bulker orders but some of the beneficial owners remain a mystery. China’s Baosteel Group has firmed up optional contracts for a pair of 23,000-dwt units after earlier penning a deal for a trio at the...
2010-07-08 07:21:02
Bulker spree & oversupply fears [Equipment]
More than $6bn worth of new bulker orders were placed in Asian shipyards in May and June, stoking fears of a major oversupply of dry bulk vessels in 2011 and beyond. Owners signed contracts for more than 74 bulk carriers totalling 5.8m dwt in June...
2010-07-08 07:12:23
Sino-Korea sweep new orders [Shipbuilding]
According to Clarkson Research Services, global new ship orders reached 12.18m cgt in the first half of 2010, more than tripling 3.77m cgt of new orders signed in the same period of last year. Of them, almost 80% went to Chinese and South Korean s...
2010-07-08 06:46:21
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