STX Vietnam Offshore Yard Opening [Offshore]
STX Europe said today that it has completed construction of the Vung Tau Shipyard in Vietnam on April 28th, which will target the fast growing Asian offshore plant and OSV market. At the yard facility completion ceremony participated STX Dalian Sh...
2010-04-30 09:17:07
CSSC profit edges up [Finance]
Chinese state shipbuilding group CSSC has increased profit in the first quarter. The company told the Shanghai stock exchange that net earnings to 31 March were CNY 693.28m ($101.55m), compared to CNY 623m in the same period of 2009. It did not g...
2010-04-30 08:29:01
Kristen pays for cancellations [Shipping]
The Greek shipping company, Kristen Marine, has been ordered to pay “breakage” costs of more than $15m over a series of four handysized bulkers that were ordered from China's Jiangsu Eastern Shipyard but cancelled before construction. The com...
2010-04-30 08:26:48
China faces cancellations flood [Finance]
Europe’s continued financial woes could precipitate a new flood of cancelled orders at Chinese shipyards, a top shipbuilding official in Beijing has warned. China Association of the National Shipbuilding Industry president Zhang Guangqin warned...
2010-04-30 07:40:01
ABS yet to position itself for 21C [Shipping]
The ABS-classed fleet passed the 160m gt mark during the past quarter thanks to deliveries from a “very robust orderbook”, ABS chairman and ceo Robert D. Somerville told the Annual Meeting of Members this week. At end March the fleet stood at a r...
2010-04-30 07:37:33
Loksa axes 525 jobs [General]
Estonia's Loksa Shipyard has announced that it would cut 525 jobs since the shipbuilder lacks orders and is shutting down the enterprise. The layoff action began in February to end in April. Only two board members will keep their jobs unless new o...
2010-04-30 07:33:43
Russia-Ukraine major yards cooperate [General]
Russia’s and Ukraine’s biggest shipbuilders, Severodvinsk-based Sevmash and Nikolayev-based Black Sea Shipbuilding Works, have signed a cooperation agreement, a spokeswoman for the Sevmash plant said. Heads of the two enterprises, Nikolai Kal...
2010-04-30 07:27:54
Spain invests €100m in shipyard [General]
Spain contemplates an investment plan worth 100 million euros for the construction of a Kaliningrad shipyard to build fishing boats, Voice of Russia reports citing Andrei Krainov, the head of RosRybolovstvo. "The Spaniards have a shipbuilding technol...
2010-04-30 07:25:28
Samsung revenue to hit $12.35bn [Offshore]
Samsung Heavy Industries (SHI) of Korea is expected to show fair performance as its proportion of revenues from offshore plant division expands this year. Kim Hyun, researcher at Seoul-based LIG Investment & Securities, said SHI is expected to me...
2010-04-30 07:04:11
DSME revs up 'F1 Strategy' [Equipment]
As the second-phase 'F1 Strategy' of Daewoo Shipbuilding & Marine Engineering (DSME) of Korea materializes in earnest, tangible global outcomes are coming into sight. The second F1 strategy is DMSE's management strategy to leap as a heavy industr...
2010-04-30 07:00:49
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