Baosteel enters shipping [General]
With import demand for iron ore surging in China, Baosteel Group Corporation is stepping up to establish its own fleet. As is reported earlier, Shanghai Baosteel Shipping, a subsidiary of the group, ordered nine bulk carriers from compatriot JES I...
2010-05-11 10:01:25
Greeks order tankers in China [Shipping]
Two Greek owners are reportedly in talks to stack up orders for up to nine large tankers. Greek owners are said to be lining up at Chinese yards to build tankers. George Economou’s privately owned Cardiff Marine is said to be in the middle of n...
2010-05-11 08:18:21
Jiangnan books four pax. [Shipbuilding]
Chinese bulker owner Shanghai Time Shipping Co continues to crank up its fleet with newbuildings. Informed sources say it has recently booked four panamax bulkers at Jiangnan Shipyard for delivery in the second half of 2012. It is unclear how...
2010-05-11 08:15:43
Offshore buoys China oil output [Offshore]
China’s crude production rose significantly in April, thanks to a boost in output from the offshore sector. In April, China produced 16.3 million tonnes of crude oil (119 million barrels), up 4.2% on year, bringing the total production in the f...
2010-05-11 08:13:27
Mitsui orders fall 75% [Finance]
Cooling demand and modifications to existing orders saw the total order value at Mitsui Engineering & Shipbuilding’s ship and ocean division fall by 75% in the financial year ended March 31 to ¥104bn ($1.1bn) from ¥422bn in the previous per...
2010-05-11 08:11:34
BW seeks to modify FPSOs [Offshore]
Bermuda-registered shipowner BW Offshore will start looking for shipyards to modify two floating production storage and offloading vessels and to convert an aframax tanker into another FPSO as it expands its fleet. The search for yards in mostly ...
2010-05-11 08:07:39
Solstad seeks to finance STX newbuild [Finance]
Solstad Offshore is in discussions with European banks to raise funds to finance the last of its newbuildings at the STX Brattvaag shipyard in Norway as it struggles to remain profitable and keep its debts in check. Solstad needs the funds to pay...
2010-05-11 07:34:37
Rongsheng wins 5 Tankers [Shipbuilding]
George Economou-led Cardiff Marine is rumoured to be in talks to order five tankers at China’s Jiangsu Rongsheng Heavy Industries for around $375m. The Greek dry bulk and tanker company is understood to be negotiating a deal for two very large ...
2010-05-11 07:31:04
Brussels' class legislation [General]
Flag states representing more than half the world’s tonnage are attempting to force the European Commission to downgrade the ambitions of its classification society legislation. Governments including the US, China, Japan, Panama and Liberia say...
2010-05-11 07:27:34
Hanjin back in black [Shipping]
Hanjin Shipping announced 2010 1Q business results with total sales of US$1.638bn and operating profit of US$2.2m. Hanjin explained, “Even though the first quarter is traditionally a slack season, the cargo volume jumped by 30.1% YoY with 32.9%...
2010-05-11 07:24:28
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