Taiwanese big3 to buy six VLCCs jointly [Shipping]
Having been approved by government, Taiwanese shipping big3, namely CPC Corporation, U-Ming Marine Transport Corp and Chinese Maritime Transport (CMT), decided to sign cooperation agreement to establish joint company with investment of TWD10bn ($310m...
2010-07-06 09:39:10
STX (Dalian) delivers China’s largest PCTC [Shipbuilding]
STX (Dalian) Shipbuilding Engineering, located in Changxing Island Liaoning Province, delivered a 6700-unit PCTC ordered by STX Pan Ocean successfully on June 30th 2010. As is introduced, the orderbook of STX (Dalian) has reached 77 ships. It is e...
2010-07-06 09:38:34
CMA CGM to sign with investors [Shipping]
CMA CGM Group has a few additional weeks to complete its capital increase with external investors. The discussions, which are well advanced, require the preparation of particularly complex documents. CMA CGM Group’s operational activity has ...
2010-07-06 09:32:06
Greeks Are Waiting [Shipbuilding]
Most Greek shipowners, who account for more vessel orders than any other nation, are waiting for prices to drop before expanding their fleets, according to Royal Bank of Scotland Group, their largest lender. The cost of a new VLCC has climbed 5 ...
2010-07-06 09:21:25
Sri Lanka pension fund buys into yard [General]
Sri Lanka's Employee's Provident Fund, a state-managed pension fund of private citizens, bought into a shipbuilding firm based at Colombo port, the firm said in a stock exchange filing. Colombo Dockyard said the Employee's Provident Fund bought 6....
2010-07-06 08:26:57
Boxship orders coming [Shipping]
Two European players have booked two ships each in China and South Korea, respectively. Norwegian-backed Norse Management and Cosmoship of Greece have joined the handful of owners ordering containership newbuildings. Jan Petter Roed-controlle...
2010-07-06 08:24:26
Newbuilding spree for tankers [Shipbuilding]
Tankers are proving most popular in the summer ordering revival. Shipowners are spending at a rate of more than $1bn a week on newbuildings, as contracting activity rebounds, which is set to reverse the decline in orderbooks. Tanker orders to...
2010-07-06 08:21:08
Alfa Laval showcases at SMM [Equipment]
Alfa Laval will be showcasing a range of innovative solutions at the SMM trade fair in Hamburg, which will take place 7-10 September 2010. Exhibition highlights will include: PureBallast 2.0 and EX Alfa Laval’s revolutionary system for ballast...
2010-07-06 08:17:40
STX Europe eyes $570m through IPO [Finance]
STX Offshore & Shipbuilding is looking to bag over $570m from an IPO for its European business, it is reported. STX Europe, formerly Aker Yards, will be floated in Singapore during the next couple of months. A listing for STX Europe has been ...
2010-07-06 08:14:25
Gaddani breaks record 107 ships [General]
The ship-breaking yard at Gaddani broke all previous records where 107 ships having a total light displacement tonnage (LDT) of 852,022 tons were beached for scrap during the current fiscal year. Never in the past, such a large number of vessels ...
2010-07-06 08:11:02
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