STX wins PSV [Offshore]
Norwegian offshore vessel operator Simon Mokster has ordered a platform supply vessel (PSV) at STX Europe. The PSV 09 CD design vessel is due for delivery in the fourth quarter of 2011. No financial terms were disclosed. The hull will be buil...
2010-02-17 08:37:31
Tanker deliveries slow down [Shipping]
An estimated 300 tankers above 25,000-dwt are set to join the fleet this year, according to data compiled by EA Gibson. The London-based broker believes that some 25% of the 2010 scheduled deliveries will not be handed over this year. As a conseq...
2010-02-17 08:35:46
Zaliv rebounds to profit [Shipbuilding]
Ukraine’s Zaliv Shipyard has turned around a big loss to end 2009 in the black. The company said net earnings last year were UAH 33.9m ($4.22m), compared to a loss of UAH 87.21m the year before. The value of its output rose to UAH 451.26m, ...
2010-02-17 08:33:46
Wartsila sells RT-flex35 [Equipment]
Finland’s Wartsila has sold the first five of its new RT-flex35 two-stroke engines to a Chinese owner. Its licensee in China, Yichang Marine Diesel Engine, has signed a deal with Ningbo Donghai Shipping Co to deliver the units for chemical tank...
2010-02-17 08:32:02
Drillship rates gloomy [Offshore]
A Dahlman Rose analyst said Tuesday that he now expects ultra-deepwater drillship rates to fall to $400,000 per day next year. Omar Nokta, who follows shipping and offshore stocks for the New York investment bank, also downgraded shares of Transo...
2010-02-17 08:29:53
MAN Diesel sales to fall [Equipment]
MAN Diesel expects sales to fall considerably this year due to the collapse of newbuilding orders. However, the engine manufacturer still expects return on sales to remain above the MAN group target of 8.5%. In 2009, MAN Diesel recorded new orders...
2010-02-17 08:28:11
Idle boxship fleet at 6-month low [Shipping]
AXS Marine’s newsletter reports that the idle containership fleet fell below 10% for the first time in six months as slow steaming and the deployment of extra loaders for the pre-Lunar New Year cargo rush took up more than 60,000 teu of idle tonnag...
2010-02-17 08:26:04
Hanjin dual operations [Shipbuilding]
Hanjin Heavy Industries & Construction (HHIC) which was hit directly by the protracted recession in shipbuilding industry and thus has been carrying out the large-scale workforce restructuring plans to divide the operations of its Korean shipyard and...
2010-02-17 07:40:40
Pre-certification for new products [General]
Pre-certification system for new shipbuilding products with high technologies will be introduced. The Ministry of Land, Transport & Marine Affairs (MLTM) announced on Feb. 16th that it will revise and proclaim 'The Ships Safety Act Regulations Cod...
2010-02-17 07:38:54
Conflicting prospects for steel demand [Equipment]
Korea’s two major steel companies – Posco and Hyundai Steel – have revealed different prospects for the steel demand of Korean shipbuilding industry. The two majors also have developed different strategies on how much of its targete...
2010-02-17 07:37:06
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