Gulf Offshore orders 8 vessels [Offshore]
Gulf Offshore Logistics (GOL) is reportedly paying $250m for its order of eight offshore vessels at two US shipyards. But the reports by a Louisiana newspaper and law firm Countryman & McDaniel do not break down how much of that total is being sp...
2010-01-26 08:21:10
Brazil FMM funds shipyards [Finance]
Brazil’s Wilson Sons is poised to receive a $277m loan from a government fund for two shipyard projects and the construction of a newbuilding. The company says the Merchant Marine Fund (FMM) has given it "priority status," a key step in the app...
2010-01-26 08:17:59
Neptune loses 47m from drillship sale [Offshore]
Neptune Group, a subsidiary of Singapore-listed Jesper Investments, will take a loss of $47m from the sale of its 1977-built Neptune Discoverer drillship to oil and gas company PetroSaudi International. Neptune will receive proceeds of $150m from...
2010-01-26 07:53:01
Vinashin into steelmaking [Equipment]
VietNamNet Bridge reported that the Vietnam Shipbuilding Industry Group is now facing criticism for moving into steelmaking, an area where it is considered to have little expertise. However, Vinashin denies the charge saying it has every reason t...
2010-01-26 07:50:27
CSIC output 10m dwt in 2010 [Shipbuilding]
One of China's two leading State-owned shipbuilders, China Shipbuilding Industry Corporation (CSIC), said Sunday that its profit in 2009 jumped 18.5 percent to 7.39 billion yuan (1.1 billion U.S. dollars). The Beijing-based conglomerate, which consis...
2010-01-26 07:48:50
Daewoo expects profit to increase [Finance]
Daewoo Shipbuilding & Marine Engineering, the world's second-largest shipbuilder, expects operating profit to rise to 1 trillion won (US$864 million) this year as it builds more drillships and offshore units. Sales may increase to 12.4 trillion w...
2010-01-26 07:46:11
Hyundai retirees hit all-time high [General]
The number of regular retirees from Hyundai Heavy Industries (HHI) for this year is expected to exceed 900 for the first time. According to the world's largest shipbuilder's announcement on Jan. 25th, the number of retirees due to reach the retir...
2010-01-26 07:11:21
POSCO reinforces co-op with yards [Equipment]
Korea's largest steel maker POSCO is planning to further focus on customer relations management this year under its aggressive management slogan. POSCO is pursuing more stabilized supply system and maximization of the customers' satisfaction by c...
2010-01-26 07:06:34
Korean-Greek ties strengthen [General]
Kim Hyung-oh, Chairman of the National Assembly of South Korea, met Greece’s president Karolos Papoulias and Greece’s prime minister Andreas Georgios Papandreou in Athens on Jan. 21st (local time), and had an in-depth discussion about cooperation...
2010-01-26 07:03:26
IT incorporation makes King [General]
Korean shipbuilders have arguably temporarily yielded the No. 1 position last year to Chinese rivals amid an abrupt fall in new ship orders following global economic downturn. Nevertheless, considering ship designing expertise and high value-added...
2010-01-26 06:54:54
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