Rongsheng inks suezmaxes [Shipbuilding]
Frontline has placed two firm orders for 156,000-dwt tankers at Jiangsu Rongsheng Heavy Industries in China with deliveries in February and May 2013. The John Fredriksen-controlled tanker company has also secured options for two similar suezmax n...
2010-07-02 06:28:47
Shin Kurushima develops green bow [Equipment]
Japan's Shin Kurushima Dockyard has recently developed a bow with the improved propulsion capacity by cooperating with Hiroshima University. The fuel efficiency has been improved by reducing the increasing resistance of waves. The newly develo...
2010-07-02 06:15:23
Korea approves 24th ship fund [Finance]
On July 1st, the Ministry of Land, Transport and Maritime Affairs (MLTM) of South Korea announced that it approved the 24th Ship Investment Company of KAMCO Global for Ship Acquisition on June 30th. The total amount of the fund is 39.1bn KRW ($31....
2010-07-02 06:10:09
NK boss Ueda chairs IACS [Shipping]
As of July 1st, Nippon Kaiji Kyokai (NK) Chairman and President Noboru Ueda (pictured) was appointed as the new chairman of the board of directors of the International Association of Classification Societies (IACS). This is the fourth time for NK to ...
2010-07-02 06:01:25
Korea exports $6.3bn ships in June [Shipbuilding]
South Korea's ship exports jumped by 43% month-on-month leading the country's overall export increase. According to the 'Trade Trend in the First Half of 2010' which was issued by the Ministry of Knowledge Economy of South Korea on July 1st, the e...
2010-07-02 05:54:29
STX pens Libyan cruiseship [Shipbuilding]
STX Europe made a good start to the second half of the year with a large cruiseship newbuilding contract. STX Europe subsidiary STX France said today that it has inked a contract on July 1st (local time in Korea) with Libya’s state-owned General...
2010-07-01 14:55:17
Weihai keeps slightly smooth growth [General]
Weihai, a small coastal city located in Shandong Province China, is becoming an emerging shipbuilding base and keeping a sustainable growth during financial tsunami. In 2009 the newbuilding output of Weihai increased by 75.2% against a year, with ...
2010-07-01 09:55:03
Wisdom Marine expands fleet [Shipping]
Wisdom Marine Lines SA expressed the company would purchase 12 ships at excellent price, including second hand and newly-built ones. Another seven ships will be delivered this year. As fleet scale grows, Wisdom is concentrating on more stakes of glob...
2010-07-01 09:54:31
Sinopacific: Where is $1bn order from? [Shipbuilding]
As is reported earlier, on June 25th Sinopacific gained the largest newbuilding order among Chinese shipbuilders since financial crisis broke out. In coming years, Sinopacific will build 62 offshore ships totaling $1bn for French Bourbon Group, w...
2010-07-01 09:53:58
Bharati to pay large divi [Finance]
India’s Bharati Shipyard looks likely to reward investors with a healthy dividend for its last financial year. The shipbuilder told the Bombay Stock Exchange that its board of directors has recommended a pay-out of 30%. It made a net profit...
2010-07-01 08:34:57
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