Stepping Up on Track [Offshore]
Shipbuilding industry is gradually getting back on track. As international oil price and raw materials price continue to skyrocket, related new ship orders increase, which naturally leads to a rise in newbuilding prices. According to Clarkson Researc...
2010-04-29 07:08:52
Proposal for Accounting Revision [Finance]
Korean shipbuilding industry is to submit 'final petition report' regarding International Financial Reporting Standards (IFRS) to the International Accounting Standards Board (IASB) this week. IASB will issue an 'Exposure Draft (ED)' based on the rep...
2010-04-29 07:06:01
Tailwind Blows [Equipment]
A number of positive signs are emerging, which indicate shipping and shipbuilding industries are getting out of the Great Recession. Though, some are still cautious about talking about recovery phase. Both the Baltic Dry Index and Howe Robinson Co...
2010-04-29 07:03:34
Sungdong 'signed' creditor MOU [Finance]
It came into light that Sungdong Shipbuilding & Marine Engineering (SSME) of Korea had signed an MOU for improvement of financial structure with its main creditor bank, Woori Bank, as of the end of last year. Excessive debt ratio due to downturn ...
2010-04-28 15:00:52
Bulker deliveries soar in Q1 [Shipbuilding]
It seems that increasing deliveries trend of containership newbuildings in the past is moving to bulkers sector as the number of delivered newly-built bulkers reaches 190 units for the first three months of 2010. According to 'KSA E-NEWS', a repo...
2010-04-28 12:45:48
STX grabs only merchant ships [Shipbuilding]
Seoul-based Dongyang Securities stated regarding STX Offshore & Shipbuilding (STX O&S) of Korea on Apr. 27th that "STX O&S is showing relatively fair performance in orders intake for commercial ship sector than expected, but it is yet to shown any vi...
2010-04-28 12:11:02
Chinese leaders visit STX [General]
STX Group announced on Apr. 28th that Kang Duk-soo, chairman of STX Group, discussed mutual cooperation measures about investment in Laioning and STX Dalian Shipbuilding Complex operation, with the Chinese visiting group including Wang Min, Secretary...
2010-04-28 11:33:33
Taiwan big 3 set up JV [Shipping]
Considering efficiency and cost-saving, as well as the deadline single-hull tanker, Taiwanese CPC Corporation, U-Ming Marine Transport and Chinese Maritime Transport (CMT) intends to establish a joint venture oil tanker corporation. If everything ...
2010-04-28 09:58:32
NACKS delivers 6th 300K VLOC [Shipbuilding]
China’s Nantong COSCO KHI Ship Engineering (NACKS) recently delivered the 6th 300,000-dwt very large ore carrier (VLOC) to compatriot COSCO Hong Kong Group. The LOA of the ship reaches 327m with 55m in breadth and 29m in depth. The area covers a...
2010-04-28 09:57:56
Shanhaiguan eyes No.1 shiprepair base [Equipment]
Shanhaiguan Shipbuilding Industry (SHGSIC) will become the largest shiprepair base in China. On April 26th the technician staff of SHGSIC were working to build a pair of 150,000 and 100,000 tons repair docks scheduled to be completed in 16 months....
2010-04-28 09:57:06
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