Break through bottleneck [Shipbuilding]
Regardless of financial crisis, China has replaced Korea’s leadership in shipbuilding industry in terms of order intakes. In 2009, the newbuilding output of China increased by 40% against 2008. But compared to Korean rivals, Chinese shipbuilders...
2010-01-28 14:11:00
STX launches 2nd Global Pioneers [General]
South Korea’s STX Business Group held a ceremony on Thursday for launching the 2nd STX Global Pioneer group. STX Global Pioneer is a program to foster global talent by sending workers abroad. The 2nd group consists of STX Corporation and STX Pan...
2010-01-28 12:25:07
155 cape deliveries to slip [Shipbuilding]
Estimates of capesize bulkers set to enter the market this year are "too aggressive", Dahlman Rose's shipping analyst said Wednesday. Omar Nokta estimates that just 200 capes will enter the fleet in 2010. His figure is far lower than the 355 newb...
2010-01-28 08:07:31
Brazil newcomer OSX big plan [Offshore]
Two Eike Batista-controlled companies have forged a partnership to provide the billionaire's OGX with the dozens of FPSOs and platforms that it says it needs. Sao Paulo-listed OGX has just released estimates saying that it needs 19 floating produ...
2010-01-28 08:05:01
Samsung net profit rises [Finance]
Higher ship prices and enhanced productivity throughout last year led Samsung Heavy Industries of South Korea to post a 6.8% rise in net profit to KRW 669.8bn ($575m) last year, compared with KRW 627bn a year earlier. Total revenue climbed 22.8% ...
2010-01-28 08:02:13
Economou eyes boxship biz [Shipping]
Greek shipowner George Economou admitted a connection with the Hanjin Heavy Industries & Construction-built containership CMA CGM Kessel, which was abruptly sold by the South Korean builder in a wrangle with French liner giant CMA CGM. Mr Economo...
2010-01-28 08:00:19
Otto Marine share issue for expansion [Finance]
Otto Marine is to raise S$95m through a share placement to expand its offshore services division and chartering fleet. The 220m new shares priced at S$0.432 per share a 9.83% discount to the last trade price on January 22. Otto Marine said it wou...
2010-01-28 07:57:37
Keppel inks jackup rig [Offshore]
Keppel FELS has secured a contract from Saudi Aramco subsidiary, Aramco Overseas Company, to build a customized KFELS Super B Class jackup rig. Upon delivery, which is slated in the second half of 2012, the rig will be deployed by Saudi Aramco in...
2010-01-28 07:51:15
Dales Marine expands facilities [General]
Aberdeen-based ship repair and maintenance specialist, Dales Marine Services, has expanded its operations on Scotland’s east coast with the lease of a dry dock at the Port of Leith and a workshop at Montrose, in order to service growing demand in t...
2010-01-28 07:48:50
Loksa lays off all [Shipbuilding]
Estonian shipyard Loksa Laevatehas has announced that it will lay off all its 525 employees because of lack of orders. The company's head of personnel said that redundancies will be phased. Andrei Akulistyi, chairman of the company's superviso...
2010-01-28 07:46:42
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