JES Int’l turns red [Finance]
Singapore-listed shipbuilder JES International has slipped to a loss in 2009 as costs rose. The Chinese group said its net deficit to 31 December was CNY 107.31m ($15.71m), against a profit of CNY 47.51m in 2008. Revenues declined to CNY 1.51bn f...
2010-02-25 08:24:23
Shanghai yards to top [Shipbuilding]
Shanghai is expected to develop as China’s largest shipbuilding hub in 2015 with an increase of annual production capacity to 12m dwt, according to a report by China Investment Consulting. The research group said that the value of vessel comple...
2010-02-25 08:21:32
Germanish ask for aid [General]
German shipyards received orders for a mere 20 ships last year, while recording cancellations of 60 planned newbuildings over the past two years, according to industry association VSM. The orderbook fell to 106 vessels comprising 1.9m gt. Deliver...
2010-02-25 08:19:15
CSIC buoyant with diversification [Shipbuilding]
The China Shipbuilding Industry Corporation (CSIC), the country's largest shipbuilder, achieved impressive double-digit growth in output, revenue and profit last year despite the global recession. Last year was tough for China's export-oriented shipb...
2010-02-25 08:16:45
Cargotec signs agreement with Incentra [Equipment]
Cargotec’s Marine Service in Norway signed a frame agreement with Incentra covering 450 installations. Cargotec’s Marine Service team in Norway has signed a frame agreement with the Norwegian purchasing association Incentra a/l. The agree...
2010-02-25 08:14:05
Marine Propulsion Conference in March [Equipment]
Shipowners, regulators, OEMs, classification societies, and manufacturers from all over the world number among the registered for this year’s Annual Marine Propulsion Conference. Once again the sector has been drawn by the outstanding technical ...
2010-02-25 08:10:05
Odfjell owns SLS MR tanker [Shipping]
Odfjell has confirmed the purchase of a formerly Greek-owned MR tanker at SLS Shipbuilding. It has taken over hull S503, which was previously controlled by Eletson Corp. Oslo-listed Odfjell will pay $33.5m for the 51,000-dwt ship, which was bough...
2010-02-25 08:05:48
Saving Hyundai-Qingdao !! [Offshore]
Hyundai Heavy Industries (HHI) threw itself to save Qingdao Hyundai Shipbuilding (QHS), a Chinese shipbuilding subsidiary of Hyundai Corporation (HC). According to an industry source, HHI is reportedly pushing management normalization by sending e...
2010-02-25 07:34:59
Hyundai away from M&A market [Finance]
The world's largest shipbuilder and a big player in M&A market, Hyundai Heavy Industries (HHI), affirmed that it will be out of M&A market for a while. Oh Byeong-wook, CEO of HHI said in an interview with Moneytoday, "We do not have any plan for ...
2010-02-25 07:32:51
Steel industry 'singing the blues' [Equipment]
Considerable damage is expected to hit Korean iron and steel industry caused by drastic recession of Korean shipbuilding industry as demand for steel plates for shipbuilding is estimated to fall short of its domestic supply which has been growing too...
2010-02-25 07:30:46
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