Rongsheng signs ten Pax. [Shipbuilding]
Minsheng Financial Leasing ordered ten 76,000-dwt Panamax bulk carriers with Jiangsu Rongsheng Heavy Industries Group, totaling CNY2.5bn ($368m). The contract was signed on May 18th in Shanghai China. The construction has been started as soon ...
2010-05-20 01:04:14
India's "new order at home" policy ? [Shipbuilding]
Domestic yards stand a greater chance of winning orders from Shipping Corp of India (SCI) following a change in the company’s tendering policy. The state-owned player is inviting offers for two 315,000-dwt VLCCs, with an option for two more, an...
2010-05-19 07:47:55
Turkish return to repairs [General]
Besiktas, Cicek and Desan are making strategic moves to counter a newbuilding market in decline. Turkish shipyards are turning their attention to ship repair to combat a fall in newbuilding orders. Relatively young Besiktas Shipyard has an or...
2010-05-19 07:46:09
Panamax order surge [Shipping]
The recent surge in orders for panamax bulkers underlines how fast shipbuilding activity reacts to improved freight rates, says broker Barry Rogliano Salles (BRS). Jiangnan Shipyard, Hudong Zhonghua, Shanghai Shipyard and Chengxi Shipyard are amo...
2010-05-19 07:44:03
USC eyes Ukrainian yards [General]
Russia’s United Shipbuilding Corp (USC) is interested in taking controlling stakes at about 10 Ukrainian state-run shipyards. The Delo daily cited Andrey Kurasov, deputy head of the shipbuilding department at the Russian ministry of industry an...
2010-05-19 07:42:01
Tamai wins newbuild finance [Finance]
Tamai Steamship has signed a JPY6.5bn ($71.15m) syndicated loan agreement with a consortium of banks to fund a trio of handymax bulkers. The consortium was led by Sumitomo Mitsui Banking Corp (SMBC) and also involved Chuo Mitsui Trust & Banking, ...
2010-05-19 07:40:16
Cammell Laird workers walk out [General]
More than 100 workers at UK ship repairer Cammell Laird have walked out over redundancy plans. The unofficial strike took place on Monday in an apparent response to management efforts to reduce the workforce following the late cancellation of a c...
2010-05-19 07:38:13
Tsakos drops drillship plan [Offshore]
Greek shipowner Tsakos Energy Navigation has abandoned its anticipated foray into the offshore sector. During a conference call with investors the company said it will not pursue a previously announced plan to buy a drillship from its Athens-base...
2010-05-19 07:35:58
Rio Tinto behind Hanjin VLOCs [Shipping]
Australia’s Rio Tinto has again expanded its bulk carrier fleet, emerging as the buyer of eight, 205,000 dwt bulk carriers worth a total of $504m, ordered earlier this month at Hanjin Heavy Industries & Construction’s shipyard at Subic Bay in the...
2010-05-19 07:32:52
China takes 37.8% of global orders [Shipbuilding]
New orders at Chinese shipyards soared in the first four months this year to 12.8m dwt from 980,000 dwt in the same period last year, the Chinese Ministry Industry and Information Technology said. The new orders accounted for 37.8% of the global ...
2010-05-19 07:31:19
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