Wuchang-Xianghai join hands for offshore [Offshore]
According to local media reports, China's Wuchang Shipyard Heavy Engineering and Jiangsu Xianghai Shipbuilding Heavy Industry have signed a strategic co-operation agreement to jointly develop a manufacturing base in East China region for ships and ot...
2009-10-29 15:09:09
CSSC net down 36% [Finance]
China CSSC Holdings has recently announced its third quarter business performance. The shipbuilding group's net profits for the three months to September fell 36% year-on-year to CNY 768m ($112m). Net profits for the first three quarters of 200...
2009-10-29 14:20:42
STX delivers world’s largest cruiseship [Shipbuilding]
STX Europe’s Turku Shipyard in Finland held a ceremony on October 28th for delivering the ‘Oasis of the Seas’, the world’s largest cruiseship. The behemoth newbuilding was ordered by Royal Caribbean in 2006 and it costs a whopping EUR 1.01...
2009-10-29 11:45:05
PNSC profit down [Finance]
Pakistan National Shipping Corporation (PNSC) has made a weaker start to its financial year as profit fell in the first quarter. The tanker and bulker owner said net earnings in the three months to 30 September were PKR 260.28m ($3.12m), against P...
2009-10-29 07:42:33
Western India Shipyard worse [Finance]
Western India Shipyard (WIS) has widened its losses in the first half of its financial year. The Mumbai-listed company said the net deficit was INR 142.1m ($3m) to 30 September, against INR 127m in the same period of 2008. The country’s biggest ...
2009-10-29 07:40:12
2nd new shipyard in southern Brazil [Shipbuilding]
The mayor of Ibituba says a consortium plans to invest $1.2bn to build a new shipyard at the city's port, according to a local media report. It would be the second big yard proposal for the southern Brazilian state of Santa Catarina, where EBX's n...
2009-10-29 07:36:24
Dearth of shipping loan to continue [Finance]
Discussing a new bond effort, General Maritime's Peter Georgiopoulos said Wednesday that he expects limited bank lending to continue into next year. Meanwhile, the NYSE-listed company's shares plunged after it reported third-quarter earnings shy o...
2009-10-29 07:34:14
Laid up reach 1.39m teus [Shipping]
As the cargo peak season comes to an end, the number of containerships on hold at sea is rising. According to French maritime consultant AXS-Alphaliner, boxships idled as of Oct. 26 totaled 1,393,000 TEUs. This is an increase of 41,000 TEUs c...
2009-10-29 07:31:30
Boxship sector cash flow dries up [Shipping]
Conditions in the container shipping industry are going from bad to worse as cash flow starts to dry up in earnest. Industry insiders are warning that the year-long crisis is finally approaching some sort of cataclysmic point as major players des...
2009-10-29 07:29:23
NYK to slash box fleet in half [Shipping]
Container shipping giant NYK is looking to downsize its box ship fleet from its existing 120 vessels to about 60 in order to cope with reduced market demand and financial issues. According to local media reports, the group intends to achieve this...
2009-10-29 07:26:12
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