COSCO earns $882m in H1 [Finance]
With recovery of world economy showing, shipping market came across turnaround. Chairman Wei Jiafu of COSCO recently said on Chinese television that COSCO’s profit hit CNY6.0bn ($882m) in the first half year. He didn’t reveal more details on ...
2010-07-15 10:06:59
JF Lehman sells yards [General]
JF Lehman & Co has completed the sale of its US shipyard group, Atlantic Marine, the company revealed Tuesday. The private equity outfit says it banked $352m after BAE Systems forked over the funds to grab Atlantic Marine's operations in Alabama, ...
2010-07-15 08:22:58
Grindrod grabs SLS ship [Shipping]
Unicorn Shipping has forked over $34m to snatch a products tanker resale from a South Korean shipyard, sources say. Unicorn, the London-based shipping arm of South African transport titan Grindrod Ltd, is believed to be the buyer of a 40,000-dwt ...
2010-07-15 08:21:35
Rolls-Royce wins £80m orders [Equipment]
Rolls-Royce has won orders to design and equip five offshore vessels plus options in deals worth around £80m ($122m). Naples-based Augusta Offshore has ordered a UT 712 CD anchor handling tug plus an option for a second vessel at Italian sh...
2010-07-15 08:19:32
Vinashin boss Binh suspended [General]
Vietnamese state shipbuilder Vinashin has suspended its chairman Pham Thanh Binh as an investigation into its parlous financial state begins. Prime minister Nguyen Tan Dung decided on the probe to review Binh’s “responsibilities and to invest...
2010-07-15 08:16:49
Nigeria to buy six ships [Shipping]
Bulkers and a tanker appear to be on the menu as Nigeria looks to revive its defunct national shipping line, a report claims. Up to six ships are being targeted as part of plans to shake up much of the West African country’s maritime infrastruc...
2010-07-15 08:14:05
Ofer idles capesize [Shipping]
Sammy Ofer’s Zodiac Maritime is heading a line of owners refusing to trade capesize vessels in the present depressed market. Zodiac has two capesize bulkers at anchor off Singapore but it insists the vessels have not been laid-up. A source ...
2010-07-15 08:11:15
Wartsila bags €23m Brightoil order [Equipment]
Finnish group Wartsila is to supply the main engines for 40 new bunkering tankers being built for the Brightoil Petroleum Group (BPG), China. In terms of the number of engines, this is one of the largest-ever orders received by Wartsila Ship Powe...
2010-07-15 08:08:52
Vinalines buys 40 Vinashin ships [Finance]
Vietnam’s state-owned Vietnam Shipping Lines (Vinalines) has been compelled by the government to prop up ailing Vietnam Shipbuilding Industry Group (Vinashin) by purchasing 40 vessels totalling around 1.4m dwt from the state-owned shipbuilder and a...
2010-07-15 07:29:53
China delivers 87% more ships [Shipbuilding]
Chinese shipbuilding industry recorded a 86.7 percent year-on-year surge in completed shipbuilding volume to 29.63 million deadweight tons (DWT) in the first half of 2010, according to the Ministry of Industry and Information Technology (MIIT). F...
2010-07-15 07:19:57
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