Trico cancels four [Offshore]
Trico Marine will take a hit of up to $130m in the fourth quarter following the cancellation of four newbuildings in India, the company warns. Slack markets and chartering difficulties further hurt its earnings in the final three months of the ye...
2010-01-04 06:58:55
GE sells PSV pair [Offshore]
India’s Great Eastern (GE) Shipping has contracted to sell two of its offshore vessels to “undisclosed” buyers. The owner, however, gave no reasons in its announcement to the Bombay Stock Exchange for the disposals. The Mumbai-based company...
2010-01-04 06:56:28
China top vessel buyer [Shipping]
China has beaten Greece as the largest buyer of dry-cargo vessels in 2009 as it snapped up over a quarter of the ships sold, a renowned Greek broker says. Chinese owners bought 186 bulkers in 2009, 66 more than the traditionally market leading Gr...
2010-01-04 06:53:03
Ship design theft [General]
A former South Korean shipyard employee has been arrested amid accusations he attempted to steal vessel designs worth over $100m and hand them to rival Chinese yards. The 30-year-old lifted the blue-prints for 50 ships over 50,000 tonnes during a...
2010-01-04 06:48:19
Hanjin cuts workforce by 30% [General]
One of South Korea’s major shipbuilders Hanjin Heavy Industries & Construction said it will cut more than 30% of its workforce in a bid to overcome the tough managerial environment caused by global shipping companies facing crisis of bankruptcy. ...
2010-01-04 06:27:27
Hyundai $17.7bn order target [Shipbuilding]
South Korea’s Hyundai Heavy Industries said on December 31st 2009 that it aims to get new orders worth $17.7bn in 2010. The world’s largest shipbuilder also set revenue target of KRW 21.55trn ($18.6bn) for the new year. Hyundai plans to inv...
2010-01-04 06:21:02
GL new rules for OSVs [Offshore]
Ship classification society Germanischer Lloyd has published a new set of rules for ships intended for offshore support and supply, offshore towing, well stimulation, and other specialized offshore services. Compared to their predecessors, these ship...
2009-12-30 11:49:43
New yard gets go-ahead [Shipbuilding]
The Indian government has approved the establishment of a new shipyard even as it hands over the Vizag-based Hindustan Shipyard (HSL) to the defense ministry this week. According to the decision of the government, HSL will now cater to the require...
2009-12-30 08:28:33
SCI eyes boxship buys [Shipping]
Shipping Corp of India (SCI) is looking to acquire three containerships in the next few weeks. The latest plan comes just after it expressed its intention to scrap its boxship business last month following the continued downturn in the global cont...
2009-12-30 08:24:46
Bangladesh controls shipbreaking [General]
Bangladesh will set up a specific shipbreaking region in a bid to cut the number of accidents. The zone at Sitakunda in Cittagong will allow for better safety and environmental standards, claims Hassan Mahmud, state minister for the environment. ...
2009-12-30 08:22:33
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