Technip Pori yard cuts jobs [General]
Technip will cut almost half of jobs at its Pori shipyard in Finland due to a lack of work. Its workforce will be sliced from 786 to just over 400 following completion of the Apache II. In a statement Technip says the cull began Tuesday as no...
2010-05-20 08:18:36
Saudi axes SLS pair [General]
The National Shipping Company of Saudi Arabia (NSCSA) is demanding $76m back from beleaguered Korean shipbuilder SLS Shipbuilding as it cancels a pair of products tankers. The Saudi owner has dropped the two 45,000-dwt units due to delivery delays, i...
2010-05-20 08:16:49
Navios forays into tanker biz [Shipping]
Navios Maritime Holdings has splashed out $171.7m to fund a previously announced 13-ship foray into the tanker market, the company revealed Wednesday. The initial payment is just a fraction of the $457.7m the New York-listed shipowner expects to ...
2010-05-20 07:42:50
Bharati earnings edge up [Finance]
India's Bharati Shipyard disclosed a marginal rise in standalone net profit for the quarter ended March 2010. During the quarter, the profit of the company rose 0.57% to Rs 355.78m ($7.741m) from Rs 353.78m in the same quarter previous year. N...
2010-05-20 07:39:51
Indonesia shipbuilders lack capital [Finance]
High borrowing costs, a lack of available funds and the inability of local firms to produce the right equipment and materials are hampering the expansion of the Indonesian shipbuilding industry. This comes at a time when shipbuilders have the pot...
2010-05-20 07:35:44
Yards Slow Down [General]
Korea's big five shipbuilders, namely Hyundai Heavy Industries, Samsung Heavy Industries, Daewoo Shipbuilding & Marine Engineering, STX Offshore & Shipbuilding and Hanjin Heavy Industries & Construction are reportedly planning to leave their yards cl...
2010-05-20 07:13:58
HMD inks 32-ship orders [Equipment]
Hyundai Mipo Dockyard has attained 43.1% of its annual order target this year, by winning 32-ship orders worth $990m by April end. It aims to receive $2.3bn worth of new orders in 2010. The Korean shipbuilder signed newbuilding contracts mostly wi...
2010-05-20 07:05:25
Japan Top 10 won 39 ships [Shipbuilding]
Japanese 10 major shipbuilders secured new orders of 39 ships totaling 672,000 gt during the fiscal year ending March 31st 2010. Kaiji Press said four yards among them grabbed no commercial ship orders at all in the year and the new orders signed ...
2010-05-20 07:02:46
2010: Chinese shuffling? [Shipbuilding]
Hit by global financial crisis, Chinese shipbuilding industry performed like a ‘Paper Tiger’. But so far, no bankruptcy occurred among Chinese large shipbuilders. Nobody believed that attributed to strong power of Chinese shipyards since the ...
2010-05-20 01:05:29
‘OOCL GUANGZHOU’ named at Samsung [Shipping]
On May 17th 2010 Orient Overseas Container Line held a naming ceremony for a 4,578 TEU boxship built by Samsung Heavy Industries. It is 14th ships during the series of 16 units. The MV OOCL GUANGZHOU was named by distinguished Li Ning, who is C...
2010-05-20 01:04:51
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