Japanese fund eyes bulker buys [Finance]
Japan’s largest shipping fund manager is readying its first foray into the dry-cargo market, its president says. Anchor Ship Investment will spend a slice of an upcoming $2.3bn fund on bulkers despite the recent slump in rates. Hajime Tsuji...
2010-07-07 07:16:14
Transpetro gets BNDES backing [Finance]
Brazilian Development Bank (BNDES) says that it has forged a deal with Transpetro to help fund the second phase of the shipowner's $5bn newbuilding program. The Rio de Janeiro-based transportation arm of Petrobras will borrow BRL 2.6bn ($1.47bn) ...
2010-07-07 07:13:59
Maersk, HHI & DNV collaborate on CO2 [General]
Maersk Tankers, Hyundai Heavy Industries (HHI) and Det Norske Veritas (DNV) have agreed to collaborate on the design and risk assessment of tankers for shipping CO2. Maersk Tankers is already in a partnership with Maersk Oil and Finnish utilities...
2010-07-07 07:10:40
SHI hedging 100% of net Forex exposure [Finance]
Samsung Heavy Industries will continue to hedge its entire exposure to foreign exchange moves and sees little impact on its hedging strategy from new forward transaction rules introduced by the South Korean government, an executive said Monday. "We s...
2010-07-07 07:08:05
Korean plant orders hit $33.5bn [Offshore]
South Korea's offshore and industrial plant export orders reached $33.477bn in the first half of the year, increasing by 383% against $6.925bn in the same period of last year. According to the Ministry of Knowledge Economy, the plant orders in H1 ...
2010-07-07 06:48:05
Dark Prospects for H2 [Shipbuilding]
Seoul-based Hyundai Research Institute said on July 4th in a report titled 'Prospects for Major Industries in the Second Half' that shipbuilding industry is expected to continue to experience slump situation as shipowners request delivery delay and o...
2010-07-07 06:45:50
STX wins Evergreen 12 [Shipbuilding]
Evergreen Group chairman Chang Yung-fa (pictured) said Monday in an interview with an overseas newspaper that the company is set to order 12 8,000-teu containerships from South Korea's STX Offshore & Shipbuilding with a formal signing scheduled in Au...
2010-07-07 06:40:22
Prices for new boxships up [Shipbuilding]
While STX Offshore & Shipbuilding is expected to win large containership series orders following Samsung Heavy Industries' contract award for 10 8,000-teu ships from Taiwan's Evergreen, newbuilding prices are forecast to further increase and new ship...
2010-07-07 06:36:01
Evergreen builds 'Green Ships' [Equipment]
Ten US$103m, 8,000 TEU containerships ordered by Taiwan-based Evergreen Group will have engines large enough to give them 24.5 knot service speeds. Although Evergreen is currently slow steaming some of its vessels it has apparently decided to re...
2010-07-06 09:40:30
Shipbuilder & steel supplier on the same boat? [Equipment]
Chinese shipbuilding analyst Sun Chongbo said recently Korean shipbuilding tycoons such as Hyundai and Samsung began to raise newbuilding price, as more as 10% against previous level. Experts said it was mostly triggered by the price surging in gl...
2010-07-06 09:39:48
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