Hyundai misses order target [Shipbuilding]
Hyundai Heavy Industries, the world’s largest shipbuilder, missed its target for new contracts for a second year as the credit crisis and shrinking global trade reduced demand for vessels. The South Korean shipyard won $10.6 billion worth of new...
2010-01-04 12:21:18
First skid launching at Samjin [Shipbuilding]
On the start of the new year, January 1st, Samjin Shipbuilding Industries (SSI), located at Weihai, Shandong, China has successfully launched one 34,000-dwt bulk carrier. Subject vessel H1010 is the second of the six vessels, which ‘KP Internati...
2010-01-04 12:00:54
Rash of insolvencies [Finance]
The shipbuilding industry looks set for a rash of insolvencies as one of the sharpest-ever collapses in order levels combines with banks’ reluctance to finance ship construction to starve many yards of cash. Only 28.8m deadweight tonnes (dwt) o...
2010-01-04 10:41:01
Brodosplit launches tanker for Swedish [Shipbuilding]
Croatia’s Brodosplit shipyard launched tanker Hull 464 in handymax, class 1A, which it built for Swedish shipping company Concordia Maritime AB. It is a tanker for transport of petroleum products in polar regions with a capacity of 65,056 dwt. ...
2010-01-04 07:20:16
Credit Suisse buys Bharati stake [Finance]
Foreign fund house Credit Suisse (Singapore) bought about 1.11 per cent stake in private shipbuilder Bharati Shipyard Ltd for nearly Rs 7 crore ($1.5m) Wednesday. In a bulk deal on the National Stock Exchange, Credit Suisse bought 308,004 equitie...
2010-01-04 07:15:39
Alang breaks a record 5,000 ships [General]
With as many as 130 ships being broken simultaneously, the Alang ship breaking yard has crossed the milestone of dismantling 5,000 ships before the end of 2009. Since its inception in 1982, the yard has recycled 35.61 lakh light displacement tonn...
2010-01-04 07:12:48
K Line shuffles top management [Shipping]
Japan’s Kawasaki Kisen Kaisha, Ltd. (K Line) decided at a board meeting to assign Hiroyuki Maekawa, the company’s present President and CEO, to Chairman of the Board and Kenichi Kuroya, Managing Director of K Line Pte Ltd, to the company’s Pres...
2010-01-04 07:11:12
Things can only get better [Shipping]
Out with the old, on with the new - which can only be good news for the maritime industry, according to Maersk Line Asia-Pacific ceo Jesper Praestensgaard, who describes 2009 as 'the worst year for both the shipping industry and Maersk Line since Wor...
2010-01-04 07:07:58
China cautious over prospects [Shipping]
China’s shipping industry remains cautious about the prospects for 2010 according to the China Shipping Prosperity Index from the Shanghai International Shipping Institute, foreign media reports. Institute research centre analyst Zhou Dequan sa...
2010-01-04 07:05:28
GMMOS acquires offshore vessels [Finance]
The parent of Stanford Marine has taken over Minnow Marine Projects and its fleet of 10 offshore vessel newbuildings. Dubai-based GMMOS Group said Wednesday that it acquired the entire share capital the offshore vessel outfit through its Stanford...
2010-01-04 07:01:40
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