SNC yard expects 40% decline [Finance]
Santierul Naval Constanta shipyard (SNC), the second largest shipbuilder in Romania, controlled by businessman Gheorghe Bosanceanu, expects an around 40% business decline in 2010, a year expected to be the industry's most difficult in recent times. ...
2010-01-28 07:43:22
SCI orders pair in China [Shipbuilding]
State-run Shipping Corp of India (SCI) said yesterday it has signed a deal for construction and delivery of two 47,000-dwt medium-range (MR) product tankers. SCI has inked the agreement with China Changjiang National Shipping Group Corporation Ji...
2010-01-28 07:31:14
Hanjin withdraws unilateral layoff plan [General]
There are growing local opinion hoping for smooth settlement between the management and labor union of Hanjin Heavy Industries & Construction (HHIC) over the workforce restructuring. The management has recently accepted the demand of the union th...
2010-01-28 07:00:27
Hyundai restructuring? political attack? [General]
In South Korea, Democratic Labor Party (DLP), one of the country's opposition party, and Hyundai Heavy Industries (HHI), the world's largest shipbuilder, is clashing into each other on HHI's alleged move to cut workforce or wage against its subcontra...
2010-01-28 06:43:39
Korean steel demand to slump 20% [Equipment]
Demand for shipbuilding steel plate in South Korea is projected to decrease by nearly 20% this year compared to last year as newbuilding output is expected to shrink following a dearth of new orders, orderbook adjustments, and restructuring. Acco...
2010-01-28 06:37:43
China ship export value up 45% [General]
On January 26th 2010, China’s Ministry of Industry and Information Technology (MIIT) issued statistics report of national shipbuilding in 2009. MIIT’s report showed that China’s newbuilding output and orderbook of 2009 occupied 34.8% and 38...
2010-01-27 16:05:19
Korean ship financier dream [Finance]
A batch of ship financing dedicated institutions are expected to be attracted to Busan city, South Korea which is designated as a financial hub in the country. Busan city and the Korea Marine Fund Corporation (Komarf) have concluded an MOU (memor...
2010-01-27 15:41:20
China faces market shuffling [Shipbuilding]
On January 24th , MT XINPUYANG, China’s largest very large crude oil carrier (VLCC) built by Guangzhou Longxue Shipbuilding, was delivered to China Shipping. The tanker will start its maiden voyage for Middle East. As is known, the order backlog...
2010-01-27 14:56:45
Hyundai Mipo busy till 2012 [Shipbuilding]
Korea Investment & Securities said today in its report related to Hyundai Mipo Dockyard, “Recently, freight rates for products carriers have surged, surpassing the level shown last year and new order prospect is getting brighter while Hyundai Mipo...
2010-01-27 14:32:38
Samsung targets less [Shipbuilding]
Samsung Heavy Industries announced today that it has set its order target for 2010 at $8bn, down 20% from last year’s target of $10bn. The South Korean major shipbuilder had aimed to win $10bn worth of orders in 2009 but it secured just $1.4bn w...
2010-01-27 13:44:38
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