D’Amico into red [Finance]
Products tanker operator d’Amico International Shipping fell into the red in the third quarter 2009 as newbuilding deliveries depressed spot market rates. The company posted a net loss of $11.4m, down from a $15.9m profit a year earlier. But ...
2009-10-30 07:38:18
Boxship relief? US recession over [Shipping]
Container lines will be relieved by the news from the US where the recession is expected to be declared over on Thursday. However, economists insist that it is still too early to start celebrating. When gross domestic product (GDP) estimates fo...
2009-10-30 07:36:45
Vinashin wobbles in 2009 [Shipbuilding]
Previous years, especially 2008, were very successful for Vinashin – which is seen as the pride of Vietnam’s shipbuilding industry. Group reports show total revenue of 32,538 billion dong ($1.8bn) in 2008, an increase of 48.06 percent ove...
2009-10-30 07:34:36
Jurong completes biggest rigs [Offshore]
Singapore’s Sembcorp Marine unit Jurong Shipyard announced Wednesday the completion of the two biggest ultra deepwater DP3 semi-submersible drilling rigs it has built to date for major US independent drilling contractor Noble Drilling. The second B...
2009-10-30 07:32:18
Shipbuilders still waiting for state aid [Shipbuilding]
The new Bulgarian government has not yet disbursed the BGN 50 million ($37.6m) approved by the previous administration for construction of new ships at Bulgaria's shipyards, the Bulgarian Shipowners Association said. In late June ex prime minister Se...
2009-10-30 07:29:13
CSSC profitability hurt [Finance]
State-owned China State Shipbuilding Corporation (CSSC), which takes the shipbuilding, ship repair and diesel engine as its three prime businesses as well as actively explores the new operations such ocean engineering and wind power generating equipm...
2009-10-30 07:24:32
Saade urged to step down [Finance]
CMA CGM founder and chairman Jacques Saade has expressed his astonishment at the banks that want him ousted. Reacting to reports that CMA CGM creditor banks want to oust Saade as chief executive before its debts are restructured, the CMA CGM chair...
2009-10-30 07:17:08
Chinese secure 70% less orders [Shipbuilding]
New order intakes of Chinese shipbuilders in the first nine months of this year have declined 70% from a year earlier. But new contracts started to increase since the second half with new orders in the first half declining a whopping 95% year-on-y...
2009-10-30 06:50:27
Secondhand prices stumbling [Shipping]
Secondhand bulker prices kept falling in September with sale & purchase deals declining 7% month-on-month. According to statistics from the Baltic Exchange, the estimated prices of five-year old capesize, panamax and handymax bulkers, as of Septem...
2009-10-30 06:45:59
Hyundai net jumps 83% [Finance]
South Korea’s Hyundai Heavy Industries posted revenue of KRW 4.986trn ($4.169bn), operating profit of KRW 531.7bn and net profit of KRW 533.9bn for the third quarter of this year. Operating profit edged down by 0.6% quarter-on-quarter due to the...
2009-10-29 16:11:39
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