Namura net profit jumps [Finance]
Japan’s Namura Shipbuilding has turned in a strong annual profit and is expecting better still this year. The yard said net earnings to 31 March were JPY 6.28bn ($67.18m), against JPY 2.98bn in the previous year. Revenues jumped to JPY 131....
2010-05-14 07:39:21
STX returns to the black [Shipping]
STX Pan Ocean has returned to profit in the first quarter of 2010 reversing the huge losses seen a year ago. The South Korean shipowner said net income was $18.4m versus the loss of over $70m seen in the first three months of 2009. Revenues a...
2010-05-14 07:37:24
CSIC awaits asset injection [Finance]
Ship engine and equipment maker China Shipbuilding Industry Co (CSIC) has had its shares suspended as its parent company mulls an asset injection plan. The stock has not been traded in Shanghai since 6 May, but should resume on 5 June. CSIC poste...
2010-05-14 07:35:17
Formosa beefs up fleet [Shipping]
Taiwan’s Formosa Plastic Corp is looking to expand its fleet from 45 to 76 vessels within three years in order to stabilise its transportation cost. Formosa Petrochemical Corp chairman Wilfred Wang told local press that it was important to cont...
2010-05-14 07:30:23
TSC Offshore orders soar 200% [Offshore]
Hong Kong-listed offshore rig components manufacturer TSC Offshore is looking to its collaboration with offshore rig building giants to further buoy sales this year. The company saw massive growth of more than 200% to $30.7m in new orders in the ...
2010-05-14 07:27:13
CSBC eyes 12 Evergreen 8,000-TEUs [Shipbuilding]
Taiwan’s biggest shipbuilder CSBC plans to enter a bid Friday for a share of Evergreen’s much-anticipated 100-vessel order. CSBC president Paul Tay-ping Tang said that the company was in the final stages of preparing its offer and hoped to pre...
2010-05-14 07:25:24
Vale fleet building to cost $9.3bn [Shipping]
Brazilian miner Vale has committed an estimated $9.3bn to developing its own shipping fleet, as the world’s largest iron ore producer continues groundbreaking plans to take control of its entire freight logistics needs within the next three years. ...
2010-05-14 07:22:29
SHI targets high-end [Offshore]
Samsung Heavy Industries of Korea is going all-out to further sharpen its competitive edge in high-end ships, a lucrative field which few shipbuilders are allowed in due to high technological entry barriers. The shipbuilder has already made headw...
2010-05-14 07:18:42
Cochin in revamp [Finance]
India's government-owned Cochin Shipyard has plans to raise funds via the capital markets, but it seems its planned IPO will get delayed further because of some crucial restructuring. The yard is working on a new face. In order to garner better i...
2010-05-14 07:15:52
SWS inks VLOC trio [Shipbuilding]
Foremost Maritime of the US has quietly stacked up its newbuilding tally at a Chinese shipyard. An informed source says shipowner James Chao has returned to his favourite yard, Shanghai Waigaoqiao Shipbuilding (SWS), for a series of ore carriers....
2010-05-14 07:13:39
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