Hudong inks pax. pair [Shipbuilding]
China's Hudong-Zhonghua Shipbuilding recently won two 76,000-dwt bulkers from Shanghai-listed trading and logistics conglomerate Xiamen International Trade, lifting the number of panamax bulker orders placed at the CSSC-affiliated yard this year to 1...
2010-05-28 06:49:16
STX likely to win Daehan [Finance]
The sale procedures of Korea's Daehan Shipbuilding is gaining speed with STX expected to be selected as the priority negotiator. An industry insider said the creditors group of Daehan and STX both took one step back. Since regular bidding on Ma...
2010-05-28 06:36:57
Samsung names LNG-SRV [Offshore]
Korea's Samsung Heavy Industries held a naming ceremony on Thursday for the LNG-SRV ordered by Norway's Hoegh. SHI president Roh In-sik and Hoegh chairman Morten W Høegh attended the christening ceremony. The vessel was named 'GDF SUEZ CAPE AN...
2010-05-28 06:32:27
Big3 debts surge [Finance]
Korean 'Big 3' shipbuilders saw their gross debts soar during the past year. Although newbuilding market is now showing some signs of life, the two-year long orders drought landed a blow to the yards' balance sheet. According to Big 3's first quar...
2010-05-27 12:39:24
Hyundai showcases 'Green Gas Engine' [Equipment]
Hyundai Heavy Industries developed a high-power eco-friendly gas engine with its own technology for the first time in South Korea. HHI said today that it has recently held a starting ceremony for the HiMSEN H35G. The 13,000-hp class gas engine ...
2010-05-27 12:01:20
China encounters revamp bottleneck [Shipbuilding]
One year passed since Chinese government issued stimulus plan for shipbuilding industry. Lots of Chinese leading shipbuilders gained orders such as Rongsheng while merger and acquisition also occurred from time to time. About 30% of Chinese p...
2010-05-27 10:21:44
NOL re-triggers idled fleet [Shipping]
Singaporean Neptune Orient Lines (NOL) expressed the company would re-trigger all idled ships to face container shipping demand surging. Meanwhile, NOL intended to order new ships below 10,000 TEU. Moreover, American President Lines (APL), the su...
2010-05-27 10:21:16
Yangfan marches to IPO again [Finance]
As top 10 Chinese shipbuilders, Yangfan Group keeps marching to IPO in Hong Kong. An insider said now the group was receiving the inspection of relevant environmental protection section while the target for fund collection amount was still unknow...
2010-05-27 10:20:20
Cosco-Baosteel iron ore transport pact [Shipping]
China’s largest shipping company, China Ocean Shipping Group, has inked a three-year deal with Baosteel Group to transport iron ore from Brazil to China and undertake domestic cabotage coal shipments. The pact is part of a nine-year framework ag...
2010-05-27 08:23:09
Petrobras gets bids for rig newbuilds [Offshore]
Petrobras has received bids from nine shipyard and fabrication groups vying to build and sell deep-water rigs directly to the oil giant in the first stage of a 28-unit Brazilian rig-building program. The tender is divided into three packages, and...
2010-05-27 08:20:33
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