CMA CGM seeks cancellations [Finance]
French container line CMA CGM has reconfirmed plans to seek cancellation of orders for 15 vessels out of the 45 it has on order, foreign media reports. Chairman Jacques Saadé said that the group would also be looking to defer delivery of ab...
2009-12-22 07:10:17
21C bank-led rehabilitation [Finance]
21st Century Shipbuilding of South Korea has applied for creditor banks debt management on December 21st. The shipbuilder said it has filed for debt restructuring to main creditor Korea Development Bank Monday as liquidity squeeze deepened amid mo...
2009-12-22 06:50:40
SLS workout [Finance]
SLS Shipbuilding of South Korea has reportedly filed for a workout procedure to its main creditor Korea Development Bank (KDB) on December 17th. SLS has to secure 75%-plus approval from its creditor banks to pursue restructuring of its debt. Th...
2009-12-22 06:46:31
New orders firming [Shipbuilding]
Global newbuilding orderbook stood at 8,267 ships of 156.9m cgt and 500.2m dwt as of December 1st, falling for sixteen consecutive months. The figure is at the lowest level since November 2007. Since August 2008, when it started to shrink, the ord...
2009-12-22 06:40:56
Arcil yard plan delayed [Finance]
Doubts have been raised over another Indian shipbuilding venture that is still seeking start-up funds. Sources say Mumbai financial-services company Asset Reconstruction Co (Arcil) has been forced to delay plans to construct a shipyard in West Ben...
2009-12-21 14:00:09
Newbuilding prices firming [Equipment]
Shipbuilding analyst Lee Sok-je working with Mirae Asset in Seoul believes newbuilding prices have bottomed out and are now firming. He says the key determinant of newbuilding price is no longer supply and demand but the price of steel and currenc...
2009-12-21 13:49:06
India mega yard project resumes [Finance]
A new mega shipyard project in India is to start again in the next few weeks after suffering a series of delays blamed in part on government lethargy. Construction of Rajapur Shipyards has been postponed twice following difficulties in securing fu...
2009-12-21 13:35:47
Wadan wins 8 more barges [Shipbuilding]
Wadan Yards Okean in Ukraine has secured an order from compatriot grain producer and trader Nibulon for another eight dry-cargo river-sea barges, taking its tally at the shipyard to 24 vessels. They form part of a $150m investment by Nibulon, a joint...
2009-12-21 13:17:15
STX scores two 37K bulkers [Shipbuilding]
STX Offshore & Shipbuilding of South Korea said Monday that it had signed a contract with an Asian shipowner to build two 37,000-dwt bulkers. The newbuildings are scheduled to be delivered by the end of 2011 after being constructed at Jinhae Shipy...
2009-12-21 11:40:12
Yantai Raffles acquisition plan probed [General]
Singapore’s Securities Industry Council is probing the planned $213m takeover of Yantai Raffles Shipyard by China International Marine Container (Group) after one of the shipbuilder’s minority shareholders, Airtrust (Singapore) voiced concerns ov...
2009-12-21 07:49:59
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