Hanjin net down 17% [Finance]
South Korean shipbuilder Hanjin Heavy Industries & Construction announced in a regulatory filing that its operating profit fell by 9.7% in 2009 to KRW 460.9bn (USD 394m). Revenue and net profit for last year dropped by 16.1% and 17.6% each to KRW...
2010-02-08 07:39:55
Japanese survival tactics [Shipbuilding]
Japanese shipbuilding and marine equipment companies which regard this year as the toughest year ever are said to be in preparation for the war to survive. Soma Nazuo, Head of the Nagasaki Shipyard of Mitsubishi Heavy Industries, recently said in...
2010-02-08 07:32:41
KDB to buy more ships [Finance]
Korea Development Bank (KDB) announced on Feb. 4th that it purchased two ships from two different small- and medium-sized shipping companies at total cost of USD 40m. KDB loaned over 70% of the ship purchasing price and rest 30% was invested by sh...
2010-02-08 07:23:01
Only 12% delivered in Jan. [Shipbuilding]
Since the start of this year, only one ship has been delivered of ten ships on schedule on average. Shipowners have been cancelling their orders since 2009 and even big shipowners cannot think about placing a newbuilding order. The industry sourc...
2010-02-08 07:16:47
Daewoo violations "unbelievable" [General]
It was revealed last week that Korean major shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has numerous flaws in its safety measures. After Korean Ministry of Labor started conducting the special safety supervision on DSME, more than...
2010-02-08 07:07:12
STX eyes more offshore orders [Equipment]
STX Group, a Korean giant of shipbuilding, machinery, shipping, offshore, and energy, has set up its 2010 business roadmap to invest KRW 1.2trn (USD 1.02bn), excluding foreign and other corporation investment, and to achieve KRW 33trn (USD 28.2bn) of...
2010-02-08 07:05:06
New orders halved [Shipbuilding]
Newbuilding orders had been cut by half last month against a month earlier. According to statistics released by Clarkson Research, global new ship orders totaled 34 vessels of 624,285 cgt in January 2010. In December 2009, a total of 72 ships of 1...
2010-02-08 07:02:57
Majors up wind biz [General]
South Korea’s major shipbuilding companies are advancing toward wind power industries following one after another. Samsung Heavy Industries marked the country’s first export of wind turbine by delivering the first of 2.5MW wind turbines, built...
2010-02-08 06:58:49
CSBC eyes bulk carrier orders [Shipbuilding]
Last year, Taiwan’s China Shipbuilding Corporation (CSBC) came across several order cancellations due to market depression. CSBC took a series of positive measures to tackle the trouble to defend its orderbook. Meanwhile, the company gained ...
2010-02-05 17:33:43
SPP secures four bulkers [Shipbuilding]
Korean shipbuilder SPP Plant & Shipbuilding has reportedly won a couple of post-panamax bulker orders from three Greek shipowners. Modion Maritime has booked one 82,000-dwt bulker for delivery in mid-2011. And Goldenport Shipmanagement is said ...
2010-02-05 16:25:21
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