Namura doubles performance [Finance]
Japan’s Namura Shipbuilding has posted strong nine-month profit growth as revenues jumped. The yard said net earnings to 31 December were JPY 5.39bn ($60.11bn), up from JPY 2.37bn in the same three quarters of 2008. Revenues rose to JPY 97....
2010-02-11 08:24:41
Hitachi Zosen net surges [Shipbuilding]
Hitachi Zosen has continued to pile on the profit in the third quarter but expects the pace of growth to slow considerably in the final period. The Japanese shipbuilder has left its full-year estimates unchanged as it forecasts a slight drop in r...
2010-02-11 08:22:44
Naikai Zosen revenue grows [Finance]
Japan’s Naikai Zosen has kept profit steady in the first nine months while revenues swelled. The shipbuilder has kept its full-year targets intact which should see it post higher sales and a slightly improved bottom line. Net profit for the...
2010-02-11 08:21:03
Bergen yard deal done [Finance]
Norway’s Bergen Group has completed the sale of its liquidated hull yard in Sweden. Oslo-listed Bergen Group says the Landskronavarvet yard has been snapped up by Oresundvarvet of Sweden after a previous letter of intent was firmed up. The ...
2010-02-11 08:17:42
St Nazaire yard workers end blockade [General]
Workers at STX Europe’s Saint Nazaire shipyard in France ended a two-day blockade of access to Norwegian Cruise Lines’ future Norwegian Epic Wednesday after being told that they risked exposing the yard to heavy penalties for its late delivery. ...
2010-02-11 08:15:46
Titan warns of substantial losses [Finance]
Hong Kong–listed shipbuilding, tanker operator company Titan Petrochemicals has warned it will report substantial losses for 2009 due to the drop in shipbuilding activity and low demand for its single-hulled tanker fleet. In the first half o...
2010-02-11 08:13:18
Newcomer OSX seeks $3bn IPO [Finance]
OSX, the Brazilian shipbuilder owned by the nation's richest man, plans to raise about $3 billion in an initial public offering in Sao Paulo that might be finished as early as mid-March, International Financing Review said, without citing sources. Mi...
2010-02-11 07:41:44
Jaya debt restructuring gets go-ahead [Finance]
The Singapore courts have approved a debt restructuring plan of offshore vessel builder and owner Jaya Holdings. The Singapore court sanctioned the two schemes of arrangement already approved by the company’s creditors. The schemes will tak...
2010-02-11 07:39:12
German pressure on Korean yards [Shipping]
The German government has urged South Korean shipyards to accept later deliveries and defer installment of payments from struggling German owners. National maritime co-ordinator Hans-Joachim Otto used a visit to South Korea by German president Ho...
2010-02-11 07:32:45
China to deliver 50m dwt newbuilds [Shipbuilding]
Chinese shipbuilding industry is estimated to be faltering this year despite the huge increment of newbuilding deliveries last year. According to data released on Feb. 10th by Beijing Research Center of Seoul-based Woori Investment & Securities, t...
2010-02-11 07:07:16
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