Builders' performance gets worse [Finance]
Korean major shipbuilders' business results are expected to continue to deteriorate going forward. They are forecast to post reduced operating margins and revenues in the second half due to a rise in raw material prices and newbuilding delivery de...
2010-05-26 13:18:15
BHP denies VLOC order [Equipment]
Mining giant BHP Billiton has denied reports that it has re-entered the shipowning arena with a huge VLOC order. Numerous media reports have inaccurately linked the Melbourne-headquartered outfit with a six-ship order at Hyundai Heavy Industries ...
2010-05-26 07:04:53
30 new ships remain at yards [Shipping]
Financial woes are still plaguing containership owners despite continued improvement in the sector. Some 30 completed boxship newbuildings are stacked up at shipyards around the world as struggling owners are unable to pay for them, a new report ...
2010-05-26 07:03:13
Rem pens PSV quartet [Offshore]
Age Remoy’s Rem Offshore has ordered four large platform supply vessel (PSV) newbuildings as signs emerge that the price of offshore ships is beginning to rise. It has penned two VS 485s at Kleven Verft and a brace of STX 06 CD design ships at ...
2010-05-26 07:01:34
Genmar buys 7 tankers [Finance]
Peter Georgiopoulos and his General Maritime are splashing out more than $600m to buy five VLCCs and two suezmax newbuildings from the fleet of Metrostar of Greece. The deal is the largest expansion of the Genmar fleet in years and is thought to ...
2010-05-26 06:59:09
Hyundai inks LPG carrier duo [Offshore]
Korean shipbuilding major Hyundai Heavy Industries inked two handysize LPG carriers ordered by Indonesia's state energy group Pertamina for a combined value of $86m. Norwegian shipbrokers Lorentzen & Stemoco and Fearnleys reported HHI would build...
2010-05-26 06:55:54
New VLCC resale price hits $125m [General]
A Deal to sell four newbuilding very large crude carriers for $125m each — a 30% rise in prices from three months ago — is reportedly in the final stages of negotiations. London shipbroker Galbraith’s reported news of the VLCC en-blo...
2010-05-26 06:53:45
Idle tonnage at 17-month low [General]
Containerships are being pulled out of lay-up at breakneck speed, with the idle fleet down to a 17-month low as services are reactivated on both the transpacific and Asia-Europe trades. Almost 1m teu of unemployed capacity has been put back to wor...
2010-05-26 06:51:55
Containership market to revive [Shipping]
The global container market will return to normal within “one to two years” according to Wei Jiafu, group president and chief executive of China Ocean Shipping (Group) Company, the world’s second-largest shipping company. In an upbeat assess...
2010-05-26 06:50:12
Croatia promotes yard privatisation [General]
The Croatian government set up special commissions to oversee the sale of majority stakes in three state-owned shipyards -- Rijeka's "3. maj", Brodogradjevna Industrija Split and Brodotrogir of Trogir. The tender process for the privatisation of ...
2010-05-26 06:47:55
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