Difficulties go on in 2010 [General]
The year 2010 began with widespread economic optimism, with most of South Korea's major industrial sectors expecting continued improvement in business conditions. Shipyards, however, are bracing for another year of hardship as overcapacity continues ...
2010-01-08 06:46:58
Price war inevitable [Shipbuilding]
Nowadays, Chinese shipbuilding industry is experiencing toughest time ever. China’s Jiangsu Rongsheng Heavy Industries Group sold 12 very large ore carriers to Companhia Vale do Rio Doce in July of 2008, at the price of $140m per unit. One year...
2010-01-08 06:43:44
Japanese Revamping & Innovating [Shipbuilding]
Gist of Japanese major shipbuilders’ new-year message can be condensed into insuring substantiality and innovation. ●Mitsubishi Heavy Industries ▼Enhance adaptability to fast-changing economic environment and revamp profitability structure....
2010-01-08 06:17:32
China launches its largest VLCC [Shipbuilding]
On January 4th, China’s Bohai Shipbuilding Heavy Industry (BSHI) launched the largest-ever very large crude carrier built in the country. The newbuilding is of 320,000 dwt, which sets a new record for VLCC constructed in China. Meanwhile, anot...
2010-01-07 17:23:15
Demolition market prospering [General]
According to Clarkson Research Services statistics, the number of demolition orders climbed up to 918 ships in 2009, rising by over 200% against 2008. But shipping industry may experience tough time again in 2010. As single hull tankers quit ...
2010-01-07 13:45:03
STX develops ice-class ships [Shipbuilding]
South Korea's STX Business Group said Thursday that STX Offshore & Shipbuilding and STX Europe jointly developed arctic ice breaking shuttle LNG carrier and large ice-class container vessel. The newly-developed ice-breaking shuttle LNG carrier can...
2010-01-07 09:50:07
Azerbaijan new yard project [Shipbuilding]
Azerbaijan is promising a state-of-the-art new shipyard to boost its domestic industry. The head of the country’s maritime administration, Gudrat Gurbanov, said the yard would be located near the Heydar Aliyev Baku Deepwater Jackets Factory. The...
2010-01-07 08:22:52
Malta Shiprepair to be sold [Finance]
Naples-based shipbuilding group Palumbo looks ready to buy Malta Shiprepair in a privatization deal. Local reports said a contract for the sale is due to be presented to the country’s cabinet. Malta Shiprepair is part of Malta Shipyards, whic...
2010-01-07 08:20:15
ISC buys stake in mini-bulkers [Shipping]
International Shipholding Corp (ISC) threw down $6.25m to buy a stake in a mini-bulker joint venture, the US shipowner said Wednesday. The Mobile-based outfit said it now owns 25% of Oslo Bulk Shipping, which ordered an octet of 8,000-dwt bulkers ...
2010-01-07 08:17:14
China $3bn fund for gas carriers [Finance]
It appears that China is planning to set up a fund to support shipowners facing financial difficulty in acquiring large gas carriers, including LNG and LPG carriers. According to overseas media sources, the fund will operate on an initial capital of ...
2010-01-07 08:14:20
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