CSC focuses on ‘bottom-fishing’ [Shipping]
Mr Dong Jianjun, vice president of China Changjiang National Shipping (Group) Corporation (CSC), recently expressed that prices of dry/bulk cargo ships were at a low level and that it might be a great opportunity to consider ‘bottom fishing’. ...
2010-02-04 14:14:22
STX builds $3bn plants in Iraq [General]
Korean business group STX said Wednesday that its subsidiary STX Heavy Industries has signed a memorandum of understanding with Iraq to construct a 3m-ton one-stop steel producing complex and a 500MW gas thermal power plant worth $3bn in total in Bas...
2010-02-04 12:11:28
Ukrainian yard workers enraged [General]
Ukrainian shipyard workers have burned an effigy of their boss in protest at receiving no wages for nine months. The staff from Black Sea Shipyard in Nikolayev also staged a picket in the city centre on Tuesday. And they have threatened to se...
2010-02-04 08:26:05
NYK switches ship types at Hyundai [Shipping]
NYK has changed orders for series of containerships in South Korea and Japan to other vessel types as it looks to scale back its liner operations. The Japanese shipowner has opted to switch three 4,500-teu containerships on order at Hyundai Heavy...
2010-02-04 08:23:04
SLS to refund Glenda [Shipbuilding]
SLS Shipbuilding is being forced to hand back over $80m to Glenda International Shipping and its financiers following the cancellation of a trio of products tankers over delivery delays. A London tribunal has found that the joint venture between ...
2010-02-04 08:20:10
Offshore giant takes a hit [Offshore]
US-based offshore vessels owner Tidewater saw its profits almost halved in the last three months of 2009 in reaction to the global slump in demand for its ships. The New York-listed company, which is the owner of the world’s largest fleet of of...
2010-02-04 07:49:24
Shanghai ship exports soar [Shipbuilding]
Shipyards in Shanghai recorded a 52.1% increase in the value of exports to $6.6bn in 2009, according to Shanghai customs. In December the value of vessels exported hit a record nine-year high to $820m, a leap of 150% compared with the level a yea...
2010-02-04 07:46:58
Lamprell secures new orders [Offshore]
United Arab Emirates shipping and offshore fabrication group Lamprell won $51m in contracts for drilling rig refurbishment work and new ship modules so far this year. The contract awards bring fresh work to the London-listed company, which had se...
2010-02-04 07:44:58
CMA CGM gets breathing space [Shipping]
Payment of a first $80m instalment on the $500m cash facility it was promised by its banks before Christmas has given French container shipping group CMA CGM the breathing space it needs to hold on for payment of the remainder. The group says tha...
2010-02-04 07:42:36
Samsung to build only eco-friendly [Shipbuilding]
Samsung Heavy Industries has declared its new green management policies at a ceremony that was joined by more than 120 guests, including ship owners such as SK Shipping and Hanjin Shipping, and respected academics in the field of environmental issues...
2010-02-04 07:40:09
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