STX wins Indian coal deal [Shipping]
Korean bulker owner STX Pan Ocean has clinched an Indian coal-carrying contract. The company said it will transport 10m tons a year for Indian Coal & Oil Co. It will carry the coal from Indonesia, it added, without revealing a contract price. ...
2010-05-04 07:18:31
Maersk's Lithuanian yard profitable [Finance]
Lithuania's Baltija Shipyard is continuing to make a profit after being put up for sale by AP Moller-Maersk. The company said earnings last year were LTL 4.6m ($1.77m), without giving a comparative figure for 2008. Revenues fell by 26.6% in 2...
2010-05-04 07:15:34
Bharati profit edges up [Finance]
India’s Bharati Shipyard has reported only a 0.5% increase in fourth quarter net profit as materials costs rose. The company said earnings to 31 March were INR 356m ($7.98m), as interest charges also increased. Revenues were up 14% at INR 3...
2010-05-04 07:10:13
Dry bulk JV to order newbuilds [Shipping]
A joint venture forged by Western Bulk and Alterna Capital is eyeing acquisitions in the dry bulk sector. The Connecticut-based private equity outfit says the alliance is hunting at least four bulkers between 30,000 and 60,000 dwt. "We have a min...
2010-05-04 07:08:00
PNSC to buy more ships [General]
Pakistan National Shipping Corp (PNSC) is planning to acquire five more ships this year, according to a reported statement by Pakistan Federal Minister for Ports and Shipping Babar Khan Ghauri. Mr Ghauri made the statement at a ceremony marking t...
2010-05-04 07:04:05
New Century cuts IPO target [Finance]
China's New Century Shipbuilding Ltd. has slashed its initial public offer size by more than half as market conditions turned adverse due to the ongoing crisis in the euro zone, a person familiar with the situation said Saturday. China's fifth la...
2010-05-04 07:02:02
Europe yards better positioned? [Offshore]
For those who regard the smashing of a champagne bottle as a tragic waste, the problems facing the world’s shipbuilders are excellent news. It takes such a long time to construct huge ocean-going container ships, bulk carriers and oil tankers t...
2010-05-04 06:57:34
Russian shipyard inks $17m tanker [Shipbuilding]
Turkmendenizyollary (Turkmen sea and river lines) will sign a contract for the construction and purchase of the river-sea vessel with the capacity of 7100 tons for transportation of oil and oil products. The vessel will be built at the shipyard "...
2010-05-04 06:53:14
MES offshore WT approved by DNV [General]
Japan's Mitsui Engineering & Shipbuilding (MES) received certification for its floating substructure for offshore wind turbines (WT) from Det Norske Veritas (DNV) on April 21st, for the first time in Japanese shipbuilding industry. The floating su...
2010-05-04 06:33:06
Korea ship exports hit $4.23bn [Equipment]
The Ministry of Knowledge Economy of Korea said Monday that the nation's exports in April jumped by 31.5% year-on-year to $39.88bn while imports soared by 42.6% to $35.47bn. Korean economy's April trade surplus stood at $4.41bn, which is higher th...
2010-05-04 06:32:03
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