K Line scales back box orderbook [Shipping]
A Japanese carrier is minimizing its liner exposure by converting three boxships to capesize bulkers. One of Japan's leading carriers has become the latest to slash its boxship orderbook. K Line has changed an order for boxships into capesize...
2009-11-07 23:50:13
Hitachi turns into the black [Finance]
Hitachi Zosen has staged a remarkable turnaround and posted a healthy profit for the first half of the fiscal year. The Japanese shipbuilder booked net income of just over JPY7bn ($77.2m) in contrast to a loss of JPY2bn last year. Sales for the...
2009-11-06 14:09:17
Simek wins PSV [Offshore]
Norway’s Havila Shipping board of directors has decided to order a platform supply vessel at compatriot Simek Shipyard. Havila said in a regulatory filing that it is to order the newbuilding at the shipyard for delivery in the third quarter 2010...
2009-11-06 12:24:07
Samjin names first of Interorient series [Shipbuilding]
On November 5th Samjin Shipbuilding Industries, located in Weihai city, Shandong province, China, delivered the first newbuilding of 12 34,000-dwt bulker series ordered by Cyprus-based Interorient Navigation in July 2007. The ship was named ‘Ori...
2009-11-06 12:11:53
STX Dalian boss wins ‘Manager Prize’ [General]
Lee Gang-sik, president of STX Dalian Engine Machinery Construction, has been awarded the ‘Manager Prize of the Year’ by the Korean Production and Operations Management Society (KOPOMS). KOPOMS plans to hold a prize-awarding ceremony on Novemb...
2009-11-06 11:17:40
Sumitomo net plummets [Finance]
Japan’s Sumitomo Heavy Industries has seen interim profits decline dramatically compared to a year ago. The Japanese shipbuilder saw net income fall to JPY1.3bn ($14.6m) compared to JPY19.8bn a year ago. Revenue at the tanker specialist was JPY2...
2009-11-06 07:58:24
Naikai Zosen eyes higher [Finance]
Japanese shipbuilder Naikai Zosen saw half-year profit dwindle, but it is expecting a much stronger finish to the year. The company said net earnings for the six months to 30 September were JPY 365m ($4.05m), compared to JPY 1.08bn in the same six...
2009-11-06 07:55:00
Jaya net soars [Finance]
Jaya Holdings has seen a huge year-on-year increase in quarterly net profits thanks largely to a series of asset disposals. Profits for the three months ended 30 September were SGD32.3m ($23m) versus the SGD9.9m seen a year earlier. Revenue at the...
2009-11-06 07:53:09
MOL cuts 24 ships, scraps 10 [Shipping]
Mitsui OSK Lines (MOL) is pressing ahead with efforts to slim its fleet vessels. In the one-year period starting from the end of September 2008, the operators trimmed the number of its ships in service by as many as 24 units, of which more than 10, i...
2009-11-06 07:51:10
Fincantieri may cut more [General]
Italian metalworkers’ unions responded with alarm Thursday to the prospect of further job cuts at state-owned shipbuilder Fincantieri. Speaking after a meeting with Giuseppe Bono, chief executive of the Trieste-based company, they said the worse...
2009-11-06 07:44:31
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