STX Finland appoints new boss [General]
STX Europe has gone back to the future in its bid to revive the fortunes of its Finnish operation. Former boss Juha Heikinheimo (pictured) has returned as president of STX Finland two years after leaving the shipbuilder. Heikinheimo replaces ...
2010-07-09 08:27:31
TEN wins fixture for newbuild [Shipping]
Greece's Tsakos Energy Navigation has secured a fresh fixture for the last of eight tankers ordered at Sumitomo Heavy Industries, the company revealed Thursday. NYSE-listed TEN says that the 105,000-dwt Uraga Princess (built 2010) was fixed on a ...
2010-07-09 08:23:51
Krasnoye inks 5 tankers [Shipbuilding]
Russia's Krasnoye Sormovo Shipyard JSC (Nizhny Novgorod, part of MNP Group) and the VFTanker shipping company have signed a contract for building five oil carriers (2 tankers in option). The five tankers delivery is scheduled for 2011, the MNP’...
2010-07-09 08:20:14
PST buys cape resale for $62m [Shipping]
Singapore's Pacific Shipping Trust (PST) said it has bought two 180,000-dwt bulk carriers in a newbuilding resale deal with Japan's Mitsubishi Corporation. The capesize pair are now under construction at South Korea's Hyundai Heavy Industries for ...
2010-07-09 07:12:44
Japan built 28 in May [Shipbuilding]
Japanese Ministry of Land, Infrastructure, Transport and Tourism said 52 major Japanese shipbuilders started building 20 ships of 897,000 gt, and completed building 28 ships of 1,371,000 gt worth JPY 145bn ($1.643bn) in May. Of the May newbuilding...
2010-07-09 07:09:44
Sekwang into workout [Finance]
South Korea's Sekwang Heavy Industries, which was classified into C group (target of workout) in the second round of restructuring of shipbuilding and construction industries, is set to enter a workout procedure soon. Sekwang's creditors group wil...
2010-07-09 07:07:23
China No. 1 by orders [Shipbuilding]
In the first half of the year, China took the No. 1 position by new order volume. According to statistics compiled by the Korea Shipbuilders' Association (KOSHIPA) and Clarkson Research Services (CRS), China inked new ship orders totaling 5.02m cg...
2010-07-09 07:01:14
Where is boxship? [Shipping]
Having been hit by financial crisis, container lines had to cut down shipping routes. As a result, the idled boxship group came out. On the other hand, the old ships entered demolition yards in advance. According to statistics, about 370,000TEU c...
2010-07-08 10:11:30
China listens to midsize shipyards [Shipbuilding]
‘We did provide loan to foreign shipowners but it doesn’t mean Chinese shipbuilders and ship finance institutes are hijacked by them. We just hope Chinese shipbuilding industry will pass tough time in this way,’ said a representative of China A...
2010-07-08 10:10:27
China needs 100 VLCC's [Shipping]
A conservative estimation showed that China’s annual demand for crude oil import would reach 400m tons during 2015 to 2020 in case of 6% GDP growth on average per year. As a result, about 320m tons of crude oil will need to be transported by Chi...
2010-07-08 10:09:52
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