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Hanjin withdraws layoff
[General]
Negotiation between labor and management of a Korean shipbuilding giant, Hanjin Heavy Industries & Construction (HHIC), which caused a conflict over huge workforce cut, came to a compromise after HHIC decided to stop additional layoff. HHIC announ...
2010-03-02 07:02:11
STX Europe delivers ‘MSC Magnifica’
[General]
STX Europe said its Saint Nazaire Shipyard in France held a delivery ceremony on February 25th for the MSC Magnifica, a Musica-class cruiseship. The vessel was ordered by Italy’s MSC Crociere in March 2007 and it is the fourth in the Musica clas...
2010-03-02 06:28:22
Restructuring whirl impending
[Shipbuilding]
Shipbuilding industry in South Korea is set to get into another round of restructuring while the market slump persists. According to industry sources, creditors group of shipbuilders plan to evaluate credit risk of yards since April when financial...
2010-03-02 06:26:30
TMT mulls LNG-FSRU conversion
[Offshore]
Nobu Su-controlled Bluesky LNG, Today Makes Tomorrow (TMT)'s LNG-shipping arm, is considering conversion offers on its two upcoming LNG-carrier newbuildings prior to their delivery later this year. Company officials say they are talking to "a num...
2010-02-26 15:41:00
Chinese new yard up for sale
[Finance]
A newly-established Chinese shipyard Jiangsu Min Yang Shipbuilding is up for sale, according to a local report. The new facility occupies a site of 420,000 square meters and is modeled on the layout of Hyundai Heavy Industries of Korea, the world...
2010-02-26 15:30:15
Davie files for creditor protection
[Finance]
Davie Yards, one of the largest shipyards in Canada, said it filed for creditor protection with the Quebec Superior Court. The Toronto-listed company said it would lay off about 1,590 employees, most of them temporarily, starting 1 March. How...
2010-02-26 15:02:17
KOTC to order chemical tankers
[Shipping]
Kuwait Oil Tanker Co (KOTC) plans to create a fleet of chemical tankers to serve the expanding Middle East export market. The Middle East tanker player, which is already pushing ahead with a $1bn-plus second-phase fleet renewal, aims to acquire i...
2010-02-26 14:29:44
NYK orders 7 new bulkers
[Shipping]
Japan’s bulker player NYK Global Bulk (NGB) has resumed newbuilding ordering activities after a hiatus of 18 months. The handysize and handymax operator has refrained from ordering ships due to high prices but has now booked seven vessels at do...
2010-02-26 14:13:40
Hudong wins export order from Greek
[Shipbuilding]
China State Shipbuilding Corp (CSSC) is reportedly poised to bag its first Greek newbuilding order since September 2008. Industry sources say CSSC-controlled Hudong-Zhonghua Shipbuilding is finalizing a two-ship deal with George Economou's DryShip...
2010-02-26 12:21:10
VINASHIN Completes First Mitsubishi-UE
[Equipment]
Vietnam Shipbuilding Industry Corporation (VINASHIN) has completed production of its first Mitsubishi-UE low-speed marine diesel under a technology licensing arrangement with Mitsubishi Heavy Industries, Ltd. (MHI). Production was undertaken at ...
2010-02-26 09:37:28
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