STX signs PSV [Offshore]
Simon Mokster has returned to STX Europe for its second PSV newbuilding of the year. The Norwegian owner has signed up for a new PSV 09L CD design vessel just two months after putting pen to paper on an order for a similar ship. Stavanger-bas...
2010-05-13 08:30:24
Hitachi profit shoots up [Finance]
Hitachi Zosen has surpassed its own full-year expectations as its bottom line shot up by over 400%. The Japanese shipbuilder banked JPY 7.91bn ($85,11m) in the year to 31 March, smashing the JPY 1.45bn posted a year ago and its own JPY 7.00bn for...
2010-05-13 08:28:28
Hapag Lloyd back in profit [Shipping]
German container line Hapag-Lloyd returned to profit in the first three months of the year after five loss-making quarters in a row, major shareholder Tui said. The carrier saw an operating profit (earnings before interests, tax and amortisation)...
2010-05-13 08:25:31
Maersk beats Q1 forecasts [Shipping]
AP Moller-Maersk returned to profit in the first three months of 2010 after five successive quarters in the red. Positive numbers from its container line coupled with a resurgence in the price of oil led to the rebound. Nils Andersen, CEO of ...
2010-05-13 08:23:29
Longxue books 82K BC [Shipbuilding]
CSSC Guangzhou Longxue Shipbuilding, an offshoot of state-owned China State Shipbuilding Corp, has inked a contract with Sutong Marine, a subsidiary of Kassian Maritime of Greece, to build a 82,000-dwt bulker carrier. The shipbuilder did not disc...
2010-05-13 07:34:08
COSL targets $897m share issue [Offshore]
China Oilfield Services Limited plans to raise Yuan7bn ($897m) from the issue of up to 500m shares on the Shanghai stock exchange to finance the expansion of its offshore fleet. Outlining the expenditure plans, the company said almost Yuan2.6bn w...
2010-05-13 07:31:40
Hyundai inks more BCs [Shipbuilding]
Korea's Hyundai Heavy Industries (HHI) has continued to accept bulker orders. The latest news show it has received an order from Indian owner Tolani Shipping for two 81,000-dwt kamsarmaxes for 2011 delivery. Earlier this year Lyras Maritime a...
2010-05-13 07:29:27
Dongkuk adds steel plate mill [Equipment]
Korea's Dongkuk Steel Mill has started commercial production of steel plate at its new Dangjin facility. The steelmaker held a completion ceremony on Wednesday for the new mill with an annual capacity of 1.5m tons of steel plates. It was attend...
2010-05-13 07:08:28
Creditors help SLS stay afloat [Finance]
Korea's SLS Shipbuilding recently revealed that it signed an agreement with its creditors group on April 30th to carry out management normalization plan. Under the agreement, the Korea Export Insurance Corporation will become the largest sharehold...
2010-05-13 06:57:57
DSME M&A Stalled [Finance]
Korea's Daewoo Shipbuilding & Marine Engineering's major stake sale is expected to be delayed considerably as steelmaker Posco is likely to win the bidding war to buy Daewoo International. Many industry players believe DSME sale would not be fina...
2010-05-13 06:52:06
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