SINOTRANS exploits Southwest China [Shipping]
On April 11th 2010, China National Foreign Trade Transportation (Group) Corporation (SINOTRANS) signed strategic frame cooperation agreement with Chongqing Municipal Government. According to agreement, both sides will carry out cooperation in ship...
2010-04-13 09:30:11
SWS inks 206K bulker [Shipbuilding]
Having been approved by board of directors on April 9th, Taiwan’s Chinese Maritime Transport (CMT) ordered one more 206,000-dwt Capesize bulk carrier valued at $63.5m, from Shanghai Waigaoqiao Shipbuilding (SWS). Compared to its previous 175,000...
2010-04-13 09:29:24
Wartsila seeks lay-offs [Equipment]
Finnish ship engine maker Wartsila is temporarily laying off up to 900 workers as demand wanes. The jobs will go at its Vaasa plant as it seeks to cut production levels. The company said it would start negotiations about the redundancies on Tuesd...
2010-04-13 08:28:42
Goldenport changes boxship to bulker [Shipping]
London-listed Greek shipowner Goldenport Holdings has clinched a deal with Chinese shipbuilder Jiangsu Yangzijiang Shipbuilding to recast one of its two container vessel orders at the yard as a contract for a post-panamax bulk carrier. The 93,000 dwt...
2010-04-13 08:27:00
SCI wins $260m loan to buy new ships [Finance]
Shipping Corp of India has signed a 10-year loan for $260m to buy new vessels, according to press reports. Mandated lead arranger and sole bookrunner for the loan is the State Bank of India, holding $200m of the loan with $60m sold down, according...
2010-04-13 08:25:38
New Century in $1.1bn IPO [Finance]
Chinese shipbuilder New Century Shipping is to launch an initial public offering on the Singapore stock exchange in a bid to raise up to $1.1bn. The Jiangsu-based shipbuilder said it would offer 30% of the company to the public, which is expected...
2010-04-13 08:23:55
Hanjin-CMA CGM to settle dispute [General]
A long-running dispute between CMA CGM and Hanjin Heavy Industries & Construction over a pair of 6,500 teu ships may soon be settled, enabling the French line to take delivery of the newbuildings. CMA CGM would not comment on the speculation, but i...
2010-04-13 08:20:27
Yangzijiang confirms dual listing talks [Shipbuilding]
Yangzijiang Shipbuilding has confirmed it has held talks over a dual listing in Hong Kong or Taiwan. The Singapore-listed Chinese shipbuilder confirmed it had held preliminary talks on the possibility of a dual listing on either Hong Kong Stock E...
2010-04-13 08:18:07
Hanjin pursuing expansion in Philippines [General]
Korea’s giant shipbuilder Hanjin Heavy Industries & Construction Co-Philippines (HHIC-Phils.) has remained interested in pursuing its P8-billion expansion project in the Phividec Industrial Estate in Tagoloan, Misamis, Oriental. Philippine Econ...
2010-04-13 08:16:38
Bulker delivery rate reached 68.4% [Shipping]
These days most dry bulk shipping analysts are focusing on tonnage oversupply issues, which could hamper the sector’s rebound prospects. While ship owners have been keeping an positive stance, proving rather optimistic on the future, the fact r...
2010-04-13 08:14:42
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