Small lines resilient [Shipping]
Shortsea and regional container lines have weathered the industry collapse far better than global carriers that suffered massive financial losses last year. In contrast to the big lines, many smaller operators ended 2009 in the black, or close to...
2010-01-05 07:29:17
Bender sale go-ahead [Finance]
A bankruptcy court in Alabama has allowed Bender Shipbuilding & Repair’s bankruptcy sale to rival VT Halter Marine to proceed substantially as proposed, after a compromise on some of the objections filed to the $21m transaction, foreign media repor...
2010-01-05 07:26:58
Odfjell awarded $43m for yard delays [Shipping]
Norwegian tanker owner Odfjell has been awarded $43.8m in damages for the delays and cancellation of vessels ordered from Russian shipyard Sevmash, foreign media reports. The Bergen-based operator was awarded the damages by the Stockholm arbitrat...
2010-01-05 07:24:49
LR 250th year celebrations [General]
Monday, British classification society Lloyd’s Register celebrated 250 years of technical service to maritime shipping when South Korea’s Hyundai Heavy Industries (HHI) delivered the first vessel of 2010 built to its class. The vessel, a 105,000-...
2010-01-05 07:20:00
Chinese steel demand to grow 20% [Equipment]
Provided there are no mass cancellations of orders, steel demand from China's shipbuilding industry is expected to increase to 17-18 million by 2011, a rise of more than 20 percent compared with the estimated consumption for 2009, said Tan Naifeng, d...
2010-01-05 07:15:25
India new VLCC-class shipyard [Shipbuilding]
The government plans to set up a shipyard to produce large-sized vessels under public-private partnership with an investment of Rs3,000-4,000 crore ($645-860m), in lieu of the Hindustan Shipyard going to the Defence ministry. "The government will set...
2010-01-05 07:12:01
Daewoo wins four 177K LNG carriers [Offshore]
Gazprom has reportedly ordered four tankers at South Korea’s Daewoo Shipbuilding & Marine Engineering. The Russian owner will take delivery of the quartet, which will be deployed on the Shtokman project, in 2015 and 2016, said deputy chief Aleks...
2010-01-05 07:06:39
Koexim expands support [Finance]
The Export-Import Bank of Korea (Korea Eximbank) said Monday that it will provide KRW 60trn ($52bn) in financial support including KRW 38trn in loans and KRW 22trn in guarantees in a bid to bolster the country’s economy through expansion of exports...
2010-01-05 06:44:53
Korea aims at $50bn orders [Shipbuilding]
Considering major shipbuilders’ order targets, South Korean shipbuilders are expected to win new orders worth over $50bn this year. Newbuilding market showed signs of recovery at the end of last year and industry players believe the market will ...
2010-01-05 06:39:12
Daewoo eyes $10bn orders [Shipbuilding]
South Korea’s Daewoo Shipbuilding & Marine Engineering announced Monday its management target for 2010. It aims to achieve revenue of KRW 12.4trn ($10.73bn) and operating profit of more than KRW 1trn for the new year. Daewoo plans to win new ...
2010-01-04 14:42:54
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