"Flexible" Steel Price Hike: POSCO [Equipment]
The largest steel maker of Korea, POSCO made an announcement regarding price increase of steel products caused by recent raw materials price shootup including iron ore, that it will apply the price increment "flexibly". Choi Jong-tae, president o...
2010-04-14 14:55:24
Too many newcomers: Overcapacity [General]
Boao Forum for Asia 2010, focusing on green recovery and sustainable growth in Asia, was held during April 9th to April 10th. On April 10th, Wei Jiafu, Chairman of China Ocean Shipping (Group) Company (COSCO), expressed that overcapacity would be...
2010-04-14 10:04:01
The largest private yacht rolls out [Equipment]
Experiencing four years’ waiting, Roman Arkadievich Abramovich, the richest man of Russia, has owned the world’s largest private yacht. Last week, a huge monster with 168m in length and 21.5m in breadth came out of the dock of reputable Blohm ...
2010-04-14 10:03:26
NJTC to expand VLCC fleet [Shipping]
Nanjing Tanker Corporation (NJTC), a subsidiary of China Changjiang National Shipping (Group) Corporation (CSC), announced that 14-unit tankers might enter the company’s fleet, totaling 1.52m dwt. The amount of tankers will be raised from 68-un...
2010-04-14 10:02:42
Palmali orders up to 10 tankers [Shipping]
Azerbaijan shipowner Palmali Shipping has confirmed an order for 10 products tankers at Russia’s Volgograd Shipyard. The deal involves 7,050-dwt vessels with deliveries from 2011 to 2013. Five of the Armada RST22M-type ships are options. No...
2010-04-14 08:29:11
Russian yard Krasnoye profit jumps [Finance]
Russian shipyard Krasnoye Sormovo has increased profit in the fourth quarter of 2009. The shipbuilder said earnings were RUB 149.24m ($5.12m) to 31 December, up more than three times from RUB 44.56m in the third quarter of last year. The company,...
2010-04-14 08:26:56
Boxship newbuilds to be absorbed [Shipping]
Rising demand will cut the number of large idle containerships in half over the next two months and soak up all of the newbuildings set to hit the water in the first half of 2010, Alphaliner says. This is despite the flood of new boxship deliveri...
2010-04-14 08:24:38
RINA's offshore vessel new rules [Offshore]
Italian classification society Rina has introduced new rules for offshore vessels such as floating production storage and offloading vessels and floating storage and regasification units. Rina says that the rules for the classification of floatin...
2010-04-14 08:22:43
OECD shipbuilding talks revive? [Shipbuilding]
The OECD could re-start negotiations later this year on an international shipbuilding agreement some five years after a previous effort failed to reach an agreed outcome. The OECD’s Council Working Party on Shipbuilding (WP6) meeting in Paris s...
2010-04-14 08:20:24
HMM in $315m iron ore shipping deal [General]
Korea's Hyundai Merchant Marine and China's ShangDong Far East Marine have signed a $315m contract to ship iron ore to China. The two companies will transport 23m tons of iron ore to China over the next 15 years for Hebei Steel Group. The shi...
2010-04-14 08:17:52
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