Tax concession boosts Yantai Raffles [Finance]
A tax concession secured by a Chinese operating subsidiary led Yantai Raffles, the Singapore-headquartered Chinese offshore rig builder, to post a modest 1.5% increase in net profit to S$27.3m ($19.5m) last year, up from S$26.9m in 2008. Revenue edge...
2010-04-21 08:18:00
Pakistan shipbreakers cash in [General]
Pakistan has taken the top slot in the demolition market, offering rates in the high $400s per ldt as capacity in Bangladesh and India strains under the weight of recent purchases. Gadani breakers were offering deals at $10-$20 above the going rat...
2010-04-21 08:16:16
Majors to gain from fuel-efficient ships [Shipbuilding]
Established shipyards with larger research and development capabilities will gain most from increased future demand for fuel-efficient vessels once newbuilding demand returns. Smaller yards with little or no design capabilities are likely to stru...
2010-04-21 08:14:50
CMA CGM takes delivery of newbuild [Shipping]
CMA CGM has taken delivery of its latest newbuilding from Samsung Heavy Industries in South Korea. The 8,500-teu CMA CGM Figaro was handed over on Tuesday and will join the Cimex service that covers the Asia-Middle East Gulf trades where both volu...
2010-04-21 08:13:08
Gdansk seeks to survive [Offshore]
Poland’s Gdansk Shipyard, the sole survivor among the country’s three largest newbuilding players, says conditions remain “tough” but things have improved slightly. A spokesman says various deals should come into force over the next few w...
2010-04-21 07:40:13
Euro yards expect eco-bonus [Finance]
A joint declaration to the European president calls for a 'selective stimulus' to reverse the decline. An “eco-bonus” is the key to reviving Europe’s ailing shipbuilding industry where thousands of workers have already been laid off. Re...
2010-04-21 07:36:12
Giants lead technology exports [General]
Korean shipbuilding giants are targeting another jackpot by exporting technologies, not ships. It is very exceptional to export information based services, as they have not been so free of worries of technology leakage so far. However, shipbu...
2010-04-21 07:14:39
Busan suppliers join 'SEA JAPAN' [Equipment]
The Tokyo shipbuilding and marine fair 'SEA JAPAN 2010' will be held for three days from Apr. 21th. 364 companies from 25 countries including China, Norway, Germany, Finland, and the hosting country Japan will attend the exhibition to be held at ...
2010-04-21 07:12:11
STX early-adopter of K-IFRS [Finance]
STX Offshore & Shipbuilding (STX O&S) of Korea announced in a regulatory filing on Apr. 19th that it decided to adopt Korean International Financial Reporting Standards (K-IFRS) early in 2010 fiscal year. Accordingly, major accounting policies in...
2010-04-21 06:44:16
Orders March to Double [Shipbuilding]
Despite entire orderbook continuing to shrink, panamax bulker and small tanker order backlogs both edged up in March. According to Clarkson Research Services' monthly report released on Monday, global newbuilding orderbook as of April 1st stood at...
2010-04-21 06:40:08
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