Palmali buys aframax resale [Shipping]
Leading Black Sea shipping line Palmali from Azerbaijan has signed a contract for two aframaxes at Japan’s Tsuneishi shipyard. The 107,400-dwt ships cost $60m each, with the first one due in July and the second one set for delivery in September...
2010-06-01 08:27:19
Japan ship orders double [Equipment]
After falling for 14 months in a row, Japanese export ship orders rose for the fifth consecutive month in April on a year-on-year basis, surging 103.3 percent to 833,791 gross tons, according to figures released by the Japan Ship Exporters' Associati...
2010-06-01 08:23:22
ABG net up 27% [Finance]
ABG Shipyard, India's largest private shipbuilding company announced 28.26% increase in net sales to Rs. 18.12 billion ($390m) against Rs 14.13 billion in FY09. Net profit stood at Rs 2.18 billion as against Rs 1.71 billion, witnessing a jump of ...
2010-06-01 08:21:01
Sungdong, SPP into financial revamp [Finance]
Two Korean shipbuilders of middle standing, namely Sungdong Shipbuilding & Marine Engineering and SPP, have signed financial structure improvement agreement on Monday with their creditor banks. Detailed management normalization plan was not disclo...
2010-06-01 07:32:20
HMD BC order cut [Shipbuilding]
Hyundai Mipo Dockyard said Monday that it has converted two 56,000-dwt bulk carrier orders, placed in July 2008 by Central and South American shipowner, into a 37,000-dwt bulk carrier order, following the owner's request. Contract value decreased ...
2010-06-01 07:23:36
No Daewoo M&A this year [General]
The Korea Development Bank is said to have decided not to sell the main stake in Daewoo Shipbuilding & Marine Engineering within this year. Industry players had expected the sale procedures to start in the second half but strong acquisition candid...
2010-06-01 07:16:37
STX op profit up [Finance]
STX Offshore & Shipbuilding first reported IFRS-applied financial results among Korean shipbuilders on Monday. It posted revenue of KRW 1.9trn ($1.58bn) and operating profit of KRW 6.1bn for the first quarter of this year. The sales shrank 32.5...
2010-06-01 07:06:10
China inks 6 LNG carriers [Offshore]
National Iranian Tanker Co (NITC) has ordered six LNG carriers in China in a deal worth $1.2bn. News of the newbuilding order emerged on Sunday in reports from Iran’s state-controlled Fars News Agency. “Based on estimates, each tanker has bee...
2010-05-31 14:13:24
Hanjin inks Adani cape pair [Shipbuilding]
Korea's Hanjin Heavy Industries & Construction said on May 31st that its overseas subsidiary HHIC-Phil has clinched a $120m-some contract with an Indian conglomerate Adani Group to build two 180,000-dwt bulk carriers. Earlier this month HHIC-Phil'...
2010-05-31 11:48:23
Nantong steps up to offshore [Offshore]
On May 28th, Asia’s first 3000-meter depth pipe-laying lifting ship, built by China’s Rongsheng Heavy Industries Group, came out of the dock. President Chen Qiang said the board of directors had realized the risks in shipbuilding market. So, t...
2010-05-31 10:10:04
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