Orderbooks dwindle on global recession [Shipping]
Orders for new ships have dwindled since the end of 2008 because of the global recession, a surplus of newly commissioned ships and cancellations, according to a report by SSY Consultancy & Research Ltd. The order book for bulk carriers has decli...
2010-02-23 08:20:30
Hamworthy wins gas system orders [Equipment]
Hamworthy Moss AS has signed contracts to deliver 10 shipboard inert gas systems, to be installed on a series of 316,000-dwt crude oil and product tankers being built by Shanghai Waigaoqiao Shipyard in China. The company has won orders specifying Ham...
2010-02-23 07:24:33
Hyundai non-shipbuilding to rise [Equipment]
IBK Securities maintained its investment opinion as ‘buy’ and the target share price at 290,000 won ($252.83), saying non-shipbuilding sectors of Hyundai Heavy Industries are worth investing due to their favorable performances. Analyst Park Seung...
2010-02-23 07:20:32
Daewoo offshore premium visualized [Finance]
Seoul-based IBK Securities suggested 'Buy' and target share price of KRW 28,000 (USD 24.39) for Daewoo Shipbuilding & Marine Engineering (DSME) Monday stating that it's stock price is underestimated considering its expanded offshore sector. Propor...
2010-02-23 07:18:41
STX abandons Daewoo E&C [Finance]
Korea's STX business group who declared to participate in Daewoo Engineering & Construction (DEC) M&A as a strategic investor (SI) has changed its mind not to take part in DEC acquisition war. It seems that STX took account of risk factors like d...
2010-02-23 07:16:33
‘Buy’ Samsung [Offshore]
IBK Securities recommended ‘buy’ on the shares of Samsung Heavy Industries on Feb. 22nd, as the company has the highest competitiveness in offshore business sector in the world and it stands to benefit the most from the recovery in the offshore p...
2010-02-23 07:13:24
'Bigger hardship coming', Hyundai union [General]
The labor union of Hyundai Heavy Industries (HHI) said on Feb. 22 nd, “Bigger difficulty than the union has ever gone through is approaching this year.” In an article published under the title of ‘Job Security, Topic of the 21st Century’ i...
2010-02-23 07:11:11
Petrobras orders disappointing [Shipping]
A Brazilian state-owned oil company, Petrobras' tens of trillions of KRW (tens of billions of USD) order, which had been an issue among Korean shipbuilders to bring a jackpot last year, has turned out to be a kind of 'hype and hoopla' for Korean ship...
2010-02-23 07:08:37
Technology gives yards 'an edge' [Shipbuilding]
Increasing environmental regulation on ships' carbon emissions will pay big dividends to South Korean shipbuilders, according to one local analyst. Seoul-based financial-services company Mirae Assets has produced an upbeat report on the shipbuild...
2010-02-22 13:23:09
MOL winner of PNG tender [Offshore]
Insiders say Mitsui OSK Lines (MOL) has beaten out AP Moller-Maersk in a tender for two existing ships. Japanese shipowner Mitsui OSK Lines (MOL) is believed to have emerged as the winner of a tender to supply LNG carriers to the ExxonMobil-led P...
2010-02-22 13:18:03
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