Daewoo leaps as sale procedures begin [Finance]
Shares in Daewoo Shipbuilding & Marine Engineering (DSME) leapt in early morning Seoul trading yesterday by double digit percentage points as the state-run Korea Development Bank (KDB) said it plans to select an adviser for the sale of the yard next ...
2009-12-10 07:35:12
Asry in $80m key quay wall deal [Equipment]
As a major part of its expansion plan, Arab Shipbuilding & Repair Yard (Asry) has awarded a design and build contract for the construction of a 1,380-metre quay wall to Bahrain-based Nass Contracting. The $80 million contract comprises the constr...
2009-12-10 07:31:47
Hyundai buys trading firm today [Finance]
Hyundai Heavy Industries, the world's leading shipbuilder, will sign a deal on Thursday to buy a South Korean trading company, company officials said Tuesday. Hyundai Heavy will buy 50 percent plus one share of Hyundai Corp. for 235 billion won (...
2009-12-10 07:29:49
Chinese surpass Korean [Shipbuilding]
China is well positioned to beef up production and overtake South Korea as the world’s largest shipbuilding nation at a time when its closest competitor is struggling to fend off demands for order cancellations. That is the view of Graham Porter, o...
2009-12-10 07:20:25
Warning over Korea yard aid [Shipbuilding]
Moves by the South Korean government to rescue the country’s shipbuilders have not made any concrete progress, says Precious Shipping managing director Khalid Hashim (pictured). “Talk is cheap,” he said. “If any yard need a bailout package it...
2009-12-10 07:14:52
Daewoo to win $1bn-plus orders [Shipbuilding]
Daewoo Shipbuilding & Marine Engineering is expected to score a number of more new orders before the end of this year. The South Korean major shipbuilder is said to be in the final stage of negotiation with Angola’s parastatal oil company Sonang...
2009-12-10 06:43:25
New wind-propelled ship [Shipbuilding]
University of Tokyo professor Ohuchi Kazuyuki’s team on December 8th announced the inauguration of 「Wind Challenger Plan」 which is to develop a new concept wind-propelled ship using a new type of large sail in a bid to drastically cut CO2 emiss...
2009-12-10 06:38:13
CSIC IPO prices at top [Finance]
China Shipbuilding Industry Co (CSIC) has priced its initial public offering (IPO) at CNY 7.38 ($1.08) per share. The pricing is at the top of a previously indicated range and is expected to raise about CNY 14.7bn ($2.2bn). CSIC had earlier said i...
2009-12-09 14:03:25
8-year old cape sells for $46m [Shipping]
According to foreign newspaper reports, U.S. NASDAQ-listed Greek shipowner DryShips Inc. seems to have sold a 2001-built 170,000-dwt capesize bulker. The vessel was reportedly priced at $45-46 million. It is believed that DryShips sold the Alameda...
2009-12-09 11:57:42
STX signs $10bn construction deal [General]
South Korea’s STX Business Group has signed a $10bn contract today with Ghana to establish a joint venture which will see it construct housing complex and infrastructures in 10 major cities in Ghana including Accra, the country’s capital. The ...
2009-12-09 11:49:11
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