Loksa returns to profit [Finance]
Estonia’s Loksa Shipyard has posted net profit of EEK 86.5m ($6.75m) for 2009. It lost EEK 12m in 2008. Loksa said the improvement was due to work finishing on bulkers and military ships, which were contracted in 2008. But the profit di...
2010-07-01 08:33:07
Fincantieri workers walk out [General]
Workers at the Fincantieri shipyard in Ancona have staged a three-hour strike to draw attention to the “crisis” there. Staff at the Italian plant walked out between 9am and 12pm on Tuesday morning and planned to head to a regional council mee...
2010-07-01 08:30:41
Ouhua wins kamsarmax pair [Shipbuilding]
Hellenic Carriers has ordered two Kamsarmax bulkers at China’s Zhejiang Ouhua Shipbuilding in a deal worth $68.4m. The Greek shipowner said delivery of the first vessel is set for January 2013 with the second ship due two months later. In a...
2010-07-01 08:27:48
Dry bulk losing streak goes on [Shipping]
Dry-cargo rates have experienced their longest losing streak in nearly half a decade following another day of declines for the Baltic Dry Index. Continued pressure from newbuilding arrivals, slumping steel prices and seasonal changes have all con...
2010-07-01 08:25:24
Sinotrans inks panamax BC's [Shipping]
Hong Kong’s Sinotrans Shipping has splashed out over $125m on a quartet of panamax bulker newbuildings at two Chinese yards. The diversified shipowner is spending $31.3m on each of the 76,000-dwt units, an announcement to the Hong Kong Stock Ex...
2010-07-01 08:21:52
Brazilian virtual yards fight for land [Shipbuilding]
Brazil's orderbook is surging but some of the country's 'virtual' shipyards are still just a dream. Rio de Janeiro-based Transpetro says greenfield facility Promar Ceara, which has already tied-up a tender to build eight ships for Petrobras' shipp...
2010-07-01 08:17:11
Vinashin faces deep restructuring [Finance]
Many state owned enterprises in Vietnam are set for dramatic overhauls by the government, none more so than the loss making Vietnam Shipbuilding Corporation (Vinashin). The bloated organization has become a major target of the government’s pledge t...
2010-07-01 08:15:01
Daesun cuts orders for bulkers [Finance]
South Korean shipbuilder Daesun Shipbuilding & Engineering has made a public announcement that the contract value for supplying bulkers which was entered into with Freeman Shipping from the Marshall Islands on May 8, 2008, has been reduced from the p...
2010-07-01 07:32:23
Korean equip makers entering China [Equipment]
The companies specialized in the field of shipbuilding equipment in Busan, South Korea are pushing ahead with their plan to enter the Chinese market which has emerged as the biggest shipbuilding market in the world. The representatives of 13 compa...
2010-07-01 07:22:46
Newbuild prices continue uptick [Equipment]
The newbuilding prices recently took an upturn again due to such factors as the appreciation of Chinese yuan and the increasing prices of such raw materials as the thick steel plates for ships. According to Clarkson Research Services, the Newbuild...
2010-07-01 07:16:06
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