Capesize rates jump [Shipping]
More Capesize time-charter contracts have started to be made amid the buoyant drybulk market, foreign media reports. According to market reports, a 2006-built 175,569-dwt vessel and a 2003-built 171,010-dwt vessel were fixed for 11-13 months at $4...
2009-11-25 07:19:01
Hanjin restores on Asia-Europe route [Shipping]
South Korea’s Hanjin Shipping will restore rates on cargo on the Asia-Europe route starting Dec. 14. The rate hike will be applied to all cargoes including reefer and special cargoes. The margin of increase will be $200/TEU and $400/FEU for c...
2009-11-25 07:16:10
Hamworthy hit by delivery delays [Equipment]
UK marine machinery and equipment supplier, Hamworthy Engineering, has seen up to 20% of its orderbook postponed as yards battle with shipowners over delivery delays. The company said that the level of cancellations of equipment from yards has declin...
2009-11-25 07:14:27
Russia may sell stake in Sovcomflot [Finance]
Russian government is set to sell a 25% stake in Sovcomflot as early as 2010, potentially raising more than $1bn. It is understood that partial privatization of the country’s largest shipowner was considered for approval Tuesday by the Russian g...
2009-11-25 07:11:41
Alang breakers in PPP model [General]
With a view to boosting the shipbreaking industry in Gujarat, the state government has decided to develop, maintain and operate the Alang shipbreaking yard near Bhavnagar on a public-private partnership model. In this connection, Infrastructure Le...
2009-11-25 07:05:14
Mingde inks 115K BC [Shipbuilding]
Chinese fast-growing private-owned shipbuilder Nantong Mingde Heavy Industry announced that it has signed a newbuilding contract with South Korean shipowner HS Line for an 115,000-dwt bulker on November 20th. The contract signing ceremony was atte...
2009-11-25 06:25:27
Posco, new owner of Daewoo ? [Finance]
Posco, South Korea’s largest steel maker, is most likely to be the new owner of Daewoo Shipbuilding & Marine Engineering. According to sources from financial industry, financial authority and Korea Development Bank (KDB) are said to have effecti...
2009-11-25 06:22:12
Majors selling know-how [Shipbuilding]
South Korea’s major first-tier shipbuilders are increasingly cooperating with foreign state-owned shipbuilding companies in a new form of export and business diversification. They help overseas shipyards be modernized or new up-to-date shipyards...
2009-11-25 06:16:44
Greek sells new Aframax [Shipping]
Greek shipowner Polys Haji-Ioannou appears to have sold one of a series of newbuilding tankers to Chinese owner. Chinese bunker player Brightoil Petroleum says it has acquired a 2009-built 107,500-dwt tanker for $52.5m. The ship was bought from Li...
2009-11-24 12:32:19
Hyundai wins $250m supply deal [Equipment]
South Korea’s Hyundai Heavy Industries has secured $250m contract in its electro electric systems business division. Hyundai said Tuesday that it has signed a contract with South African power utility Eskom to supply extra-high voltage transform...
2009-11-24 11:33:50
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