Daewoo Q1 profits rise [Finance]
Korea's Daewoo Shipbuilding & Marine Engineering said Monday in a regulatory filing that it attained revenue of KRW 2.7072trn ($2.347bn) and operating profit of KRW 164.3bn for the first three months of the year. The sales fell by 8% from a year e...
2010-05-18 06:50:42
Seko launches hope for survival [Shipbuilding]
Korean shipbuilder Seko Heavy Industries successfully launched a 34,000-dwt bulk carrier (Hull No. S1003) at 04:00 AM on May 16th. The ship is the first of the handysize series ordered by Germany's Carsten Rehder, established in 1903. After out...
2010-05-18 06:47:32
Order revision spreading [Shipbuilding]
As is reported earlier, CMA CGM was negotiating with four Korean shipyards on newbuilding contract revision. CMA CGM ordered 42 new ships in Korea while 12 ships among them were considered to be cancelled. Besides, delivery delays are also on the com...
2010-05-18 02:42:42
Weihang delivers Stanley Ho’s TSHD [Offshore]
On May 17th, China’s Weihang Shipyard delivered a 3,000-dwt trailing suction hopper dredger, namely MV S.T.D.M. NO.16. Weihang Shipyard was established by the family of Stanley Ho who is gambling tycoon of Macau. The yard covers an area of 100,0...
2010-05-18 02:10:00
Dislocation competition triggers booming [General]
Global shipbuilding industry mired in recession since global financial crisis broke out. Beyond expectation, Zhongshan, a shipbuilding base located in Guangdong Province China, is swimming against the stream, especially in offshore orders. As is i...
2010-05-18 02:08:48
Collective wage negotiations begin [General]
Negotiations for collective wage agreement have recently started at Korean shipbuilding companies like Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering. The labor union of HHI held a collective wage negotiation commencement ce...
2010-05-17 12:41:59
Worries over eurozone contagion [Finance]
It is worried Greek financial crisis could spread into the entire eurozone economy and shipbuilders in Korea may take a hit. The shipyards in the Far Eastern country depend much on European shipowners, and if the eurozone economy is slumped, new s...
2010-05-17 11:51:44
Pax. becomes rising star [Shipping]
According HSBC Shipping Services weekly report, the demand for secondhand Panamax bulk carrier is surging, especially in Pacific and Atlantic area. The price of ten-year-old Panamax ship is even higher than that of new ones. An amazing story is sp...
2010-05-17 10:14:22
DSIC rolls out drilling platform dock [Offshore]
On May 13th Dalian Shipbuilding Industry Company Limited (DSIC) rolled out a special dock for drilling platform. This is the first Chinese modern special dock designed to the construction of drilling platform. The dock was built by compatriot...
2010-05-17 09:57:27
Chinese face financial bottleneck [Shipbuilding]
As is reported earlier, China’s Rongsheng Heavy Industries Group announced its re-starting IPO plan valued at $1.5bn in Hong Kong. Meanwhile, compatriot New Century Shipbuilding failed to list in Singapore. Experts said the two pieces of breaki...
2010-05-17 09:56:09
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