Shipbuilders running below capacity [Shipbuilding]
It is reported that along with the falling new ship orders, more and more shipbuilders run under the production capacity. Many shipbuilding enterprises even did not receive any orders after the worldwide economic crisis. According to statistics f...
2009-12-07 07:18:30
Bharati ends up with high debt [General]
The Great Offshore Ltd takeover saga finally seems to have come to an end in India. ABG Shipyard Ltd has sold its stake in the company, which signals that it has opted to get out of the race to win control of the oilfield services company. Th...
2009-12-07 07:13:36
CSIC to raise $1.8bn in A-share listing [Finance]
China Shipbuilding Industry Co, the country's largest ship equipment maker, will raise 12.3 billion yuan ($1.76 billion) to 14.7 billion yuan in an A-share listing, the firm said in a statement on Friday. CSIC will issue about 2 billion shares to...
2009-12-07 07:11:28
Gazprombank signs yard cooperation agreement [Offshore]
Gazprombank and Far East Center of Shipbuilding and Shiprepair, an affiliate of the United Shipbuilding Corporation (OSC), signed a cooperation agreement, reported local media. In addition to loan services, the bank will provide the center with consu...
2009-12-07 07:09:44
Hyundai in loan negotiations [Finance]
Three South Korean banks are reportedly in negotiations with Hyundai Heavy Industries to provide loans totaling Won1.5trn ($1.3bn) to finance Hyundai Heavy’s acquisition of Hyundai Oilbank. The move came as Hyundai Heavy asked Seoul Central dis...
2009-12-07 07:05:55
Korea bans single-hullers since 2011 [Shipping]
South Korea is to ban single-hull tankers since 2011, four years earlier than the original schedule. The Ministry of Land, Transport and Maritime Affairs said on December 6th that single hullers will be prohibited from entering the country’s por...
2009-12-07 06:39:45
Hyundai ranks job security top priority [General]
Hyundai Heavy Industries’ labor union chairman Oh Jong-shoi said last Friday that the union will make every effort to secure jobs. Mr Oh, who has been reappointed the chairman of HHI labor union for the first time in history of the organization,...
2009-12-07 06:35:03
Korea returns to No. 1 [Shipbuilding]
South Korean shipbuilders regained the crown in terms of new orders after seven-month hiatus. According to Clarkson Research Services statistics, they have secured new orders totaling 716,097 cgt in November. Their market share stood at 71.7%, ...
2009-12-07 06:28:50
Sovcomflot buys canceled orders [Shipping]
Russian shipping giant Sovcomflot is strengthening its ties with domestic shipyards by taking over contracts for two 18,500-dwt chemical tankers at United Shipbuilding Corp (USC)'s Amur facility. No price has been disclosed. The ships have been taken...
2009-12-04 13:20:03
Order subsidy scheme under way [Finance]
India’s shipping ministry is preparing a shipbuilding-subsidy proposal that could provide subsidies for shipowners booking orders at domestic shipyards. It is proposing subsidies for the first time to domestic owners ordering at local yards. Ho...
2009-12-04 13:07:56
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