VLCC heat to cool down [Shipping]
Accelerating VLCC prices are expected to slow as values are racing ahead of the charter market, a leading analyst says. Martin Sommerseth Jaer of Arctic Securities says a five-year-old VLCC is labelled at $91.2m at present, up by $1.2m in a week ...
2010-06-09 08:25:41
Wartsila closes Dutch plants [Equipment]
Finnish engine maker Wartsila is pressing ahead with 570 redundancies in the Netherlands following "positive advice" from a works council. It will close the propeller plant in Drunen and component production in Zwolle. Wartsila employs 1,500 in t...
2010-06-09 08:24:00
Orderbook change saves industry [General]
The culling of ship orders on the back of the global economic slump “saved us from ourselves”, a leading classification figure claims. Richard Sadler, chief executive of Lloyd’s Register, also cast doubt over the actual effect the market mal...
2010-06-09 08:21:16
Sevan wins $230m financing [Offshore]
Sevan Marine has agreed the bare bones of a $230m loan to pay for upgrades to one of its FPSO units. Oslo-listed Sevan has received a term sheet for the cash from ING Bank, it tells investors Tuesday. If finalised, the loan will replace a $15...
2010-06-09 08:16:26
Idle boxships keep shrinking [Shipping]
Idle containership capacity continues to shrink with almost 30 vessels returning to work in the past two weeks, Alphaliner says. Its latest report shows 234 boxships laid-up compared with 263 a fortnight ago. In capacity terms the idle fleet ...
2010-06-09 08:14:16
Pertamina to add 20 ships [Shipping]
Pertamina Shipping, an offshoot of Indonesia’s state energy group, will enhance its fleet by around 20 vessels over the next 30 months with the majority scheduled for delivery in 2011. These include a pair of 23,000 cu m liquefied petroleum gas ...
2010-06-09 08:11:26
Pipavav forays into defence sector [General]
India's Pipavav Shipyard has secured a contract worth an estimated $552m (Rs 2,600-crore) for the construction of five offshore patrol vessels for the Indian Navy – marking its entry in to the defence sector. This contract boosts the yard...
2010-06-09 08:08:50
Cargotec signs EUR 20m order [Equipment]
Cargotec has signed EUR 20 million contract for MacGregor subsea load and module handling systems to be installed on Hallin Marine Subsea International PLC’s ‘ground-breaking’ design of compact semi-submersible (CSS) offshore vessel. The eq...
2010-06-09 07:29:06
Evergreen rebuffs CSBC bid again [Shipbuilding]
Evergreen Marine has rejected a CSBC bid to build a series of boxships, saying the shipbuilder’s price per teu was too high compared with offers placed by South Korean shipyards CSBC was bidding for 12 8,000-teu containerships, part of a larger ...
2010-06-09 07:26:20
Oriental inks coal carriers [Shipbuilding]
South Korea's Oriental Precision & Engineering said Monday that it has inked a contract with Indonesia's Jaya Samudra Karunia Shipping to build two deck cargo vessels for KRW 22.8bn ($18.5m). Contract value equals 5% of the company's revenue for l...
2010-06-09 06:59:04
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