STX Dalian to list [Finance]
South Korea’s STX Business Group has grown and diversified more than most shipping companies this decade, thanks in no small part to its repeated offerings to bourses around the globe. Now, faced with a tough financial climate it is readying its...
2009-12-16 12:56:08
Daewoo wins Petrobras drillships [Offshore]
Daewoo Shipbuilding & Marine Engineering will build more than $1bn worth of drillships for Petroleo Brasileiro (Petrobras), sources familiar with the matter said Tuesday, making it the first South Korean shipbuilder to get a contract from Brazil's st...
2009-12-16 12:33:18
Technip lands BP contract [Offshore]
French oil industry contractor Technip has landed a new contract from BP for the installation of two risers on the Schiehallion field in the North Sea, west of the Shetlands, foreign media reports. The company has already completed the contract for t...
2009-12-16 07:27:23
Fincantieri hit by strikes [General]
Workers at two Fincantieri shipyards occupied the yards’ offices Monday evening in protest at the company’s decision not to award end-of-year efficiency bonusses. As of Tuesday morning, the offices – at the company’s Sestri Ponente ya...
2009-12-16 07:25:38
French owners call for action [Shipping]
French shipowners have welcomed the French government’s adoption of an integrated maritime policy but say they now need a specific plan of action for the shipping sector, foreign media reports. The owners’ representative body Amateurs de France s...
2009-12-16 07:22:51
Time to invest in containerships [General]
Now could be a good time to consider investing in containerships despite the poor state of the liner and containership charter markets, said chief executive of DVB Bank’s shipping division Dagfinn Lunde. He said that the bank has recently agree...
2009-12-16 07:20:06
CMA CGM debt deal faces rough going [Finance]
French container shipping group CMA CGM has again overshot its target date for completing talks with its banks on a restructuring of its $5.6bn debt, foreign media reports. The group, which had originally signalled a mid-November date, told its e...
2009-12-16 07:15:45
Slow steaming prevails [Shipping]
Intensified speed reduction in navigation has become a trend in the liner shipping market. Backed by results of their respective verification tests, a growing number of operators have been reducing their main engine output by up to 30%, long cons...
2009-12-16 07:11:45
China excels Japan [Shipbuilding]
Chinese shipbuilders could surpass Japanese rivals in terms of newbuilding completion volume in 2009 for the first time. According to statistics, China's completion volume was above that of Japan as of autumn, and should this pace continue, it wi...
2009-12-16 07:05:17
Cosco warns of losses [Finance]
Hong Kong-listed China Cosco Holdings Co (CCHC) warned it will make a loss in 2009. The containership and bulker owner did not reveal a figure, but put the likely negative result down to the “recession of the shipping market amid the global eco...
2009-12-16 07:02:24
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