German yards attack Asian rivals [Shipbuilding]
German shipbuilders have sharply criticised rivals from Korea and China and accused them of price dumping. “We are in cut-throat competition with our Asian competitors,” said Werner Lundt, managing director of the German shipbuilders’ assoc...
2010-05-19 07:28:35
DSME offshore orders to surge [Offshore]
Daewoo Shipbuilding & Marine Engineering, the world’s second-largest shipyard by orders, aims to almost triple contracts for offshore facilities this year as economic growth spurs energy demand. The company may win $5 billion worth of orders fo...
2010-05-19 07:26:30
Zvezda-DSME design work begins [General]
Far Eastern Center of shipbuilding, shiprepair (FECSS) OJSC and two South Korean design companies KORPEK and AUDC signed a contract Saturday in Vladivostok for development of technical design of a shipyard Zvezda-DSME, the Primorsky Territory Adminis...
2010-05-19 07:24:35
Aker Phil delivers 9th PC [Shipbuilding]
Aker Philadelphia Shipyard, a leading U.S. commercial shipyard, delivered its ninth Veteran Class MT-46 product tanker on Friday to American Shipping Company. The 46,000 dwt vessel, named the Overseas Martinez, will leave the shipyard soon under ...
2010-05-19 07:20:22
30-ship orders at risk: RG issue [Finance]
Korean small- and medium-sized shipbuilders including Seko Heavy Industries, which won new orders for six ships earlier this year, have inked orders for a total of around 30 ships so far this year but domestic commercial banks are said to be refusing...
2010-05-19 07:01:21
Majors post mixed Q1 results [Finance]
Korean major shipbuilders' Q1 business results are summarized in one sentence: "Revenues fell but operating profits rose." In the first quarter of the year, sales decreased year-on-year due to strong local currency, but operating profits jumped th...
2010-05-19 06:55:24
Jiangsu newbuild output jumps 82% [Shipbuilding]
According to statistics from Jiangsu Provincial Government, the newbuilding output of Jiangsu reached 99 ships of 5.93m dwt in previous four months, rising by 82.4% on year-on-year basis. It occupied 12.4% and 31.8% of global and domestic market resp...
2010-05-19 01:34:06
Recovery is coming? [Shipping]
The shipping community, which suffered severe blow during financial tsunami, is eager for turnaround, namely freight rising. On May 10th, BDI increased 2.74% against a week earlier, at 3707 points. It seemed to be running for new high since Decemb...
2010-05-19 01:33:18
COSCO eyes cost-cutting [Shipbuilding]
COSCO Zhoushan Shipyard has taken several measures to control cost for more profits since the beginning of 2010. So far the job seems excellent. The industrial output value of COSCO Zhoushan Shipyard during January to April reached over CNY1.3bn (...
2010-05-19 01:32:53
Lithuanian yard hit by slump [Equipment]
Lithuanian shiprepairer Vakaru Laivu Remontas (VLR) has seen its 2009 profit reduced dramatically in tough markets. The subsidiary of Western Shipyard said net profit slumped to LTL 2.06m ($743,000), from LTL 14.8m in 2008. Revenues more than...
2010-05-18 08:26:20
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