Daewoo inks five Suezmaxes [Shipbuilding]
Korea's Daewoo Shipbuilding and Marine Engineering said Sunday it has won orders to build five 160,000-dwt oil tankers for Angola's state-run oil and gas company. DSME said the deal signed in Lisbon on Saturday with Sonangol is worth 400 billion w...
2010-02-21 14:51:47
Newbuilding prices keep falling [Shipbuilding]
According to Clarkson Research’s latest monthly report ‘World Shipyard Monitor’, the Newbuilding Price Index fell to 136.1 points in January 2010, the lowest the index has been for over five years, since July 2004. It has fallen for the sixt...
2010-02-19 16:19:29
CSIC joins forces with energy giant [General]
China Huadian Corporation, a state-owned energy tycoon in the country, recently signed strategic cooperation agreement with China Shipbuilding Industry Corporation (CSIC) in Beijing. The two giants will implement diversified co-operations includin...
2010-02-19 12:05:08
Product oil stored in tankers falls [Shipping]
The volume of refined oil products stored in tankers at sea was decreasing in recent weeks and is likely to trigger pressure on the clean tanker market, which is already struggling with supply shortage. Analysts said the market panic last year enc...
2010-02-19 12:01:30
KOTC to order aframaxes [Shipping]
Kuwait Oil Tanker Co (KOTC) is evaluating offers from South Korean shipyards to build two new aframax tankers. The newbuildings will form part of an on-going fleet development plan. Bader Al Otaibi, KOTC’s planning affairs group manager, say...
2010-02-19 08:34:59
African reviving canceliations [Shipping]
South African shipowner Grindrod could be about to reinstate order contracts for a trio of tankers it said it cancelled earlier this year. News of the development came as the owner revealed a large drop in full-year profit on the back of waning r...
2010-02-19 08:33:15
KG firms cut boxship funding [Finance]
The collapse of the KG market has gone hand in hand with a steep decline in the share of containerships financed by KG funds. A mere 14.8% of the capital collected from investors in 2009 went into boxships, according to a survey released Thursday,...
2010-02-19 08:31:13
CMA CGM given deadline by Hanjin [Finance]
CMA CGM has been given until next Tuesday to pay for a ship that Hanjin Heavy Industries & Construction is ready to deliver, or lose the vessel to a third party, industry sources revealed Thursday. The South Korean shipbuilder confirmed this week...
2010-02-19 08:29:15
Sembawang bags $90m repair deal [General]
Sembawang Shipyard has bagged S$130m ($90m) in repair and upgrading contracts and renewed its long-term contract with the Eitzen Group. The Singapore yard is to carry out a longevity project for North West Shelf LNG Venture on the LNG carrier Nor...
2010-02-19 08:27:16
China yards grow 28% [Shipbuilding]
The gross output of China's shipbuilding industry was RMB 548.4 billion ($80.2bn) in 2009, up 28.7% year on year, according to statistics released by the Ministry of Industry and Information Technology. Growth was 31.1 percentage points slower th...
2010-02-19 08:26:01
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