China new ship orders halve [Shipbuilding]
According to Mr Xiong Bilin, a researcher from Department of Industry under National Development & Reform Commission noted on the latest news release conference ship demand decreases, thus China new ship orders will reduce by half to 25 million DWT t...
2009-10-26 07:02:46
MHI expects H1 net loss [Finance]
Mitsubishi Heavy Industries said Friday it now estimates a net loss of Y3.1 billion for the first half ended Sept. 30, citing a slump in sales of some industrial machinery products and the yen's strength. The Japanese shipbuilder and heavy-machin...
2009-10-26 07:00:21
Korea overtaken by China in new orders [Shipbuilding]
South Korean shipbuilders were outpaced by their Chinese rivals in terms of new orders received in the first nine months of the year, according to a London-based market researcher. Korean yards won a combined 1.33 million CGT in new orders in the ...
2009-10-26 06:57:56
STX chairman Kang visits Africa [General]
South Korea’s STX Business Group chairman Kang Duk-su paid a courtesy call on Ghana President John Atta Mills and discussed co-operation plans. STX said Mr Kang has visited Africa, the emerging global new market, to find new business opportuniti...
2009-10-26 06:39:55
STACO ‘Grateful Night’: KRW10bn deal [Equipment]
STACO, the world’s biggest manufacturer for marine accommodation products, invited around 60 oversea customers for KORMARINE 2009 exhibition held in Busan, South Korea late last week. STACO hosted "The Grateful Night for STACO World Friends" eve...
2009-10-26 06:34:51
New order rally weakens [Shipbuilding]
Global newbuilding orderbook stood at 8,671 ships of 162m cgt and 517m dwt as of the end of September, with 196m dwt or 38% of the total orderbook set for delivery in 2010. According to delivery schedule, 82m dwt or 16% was still set to be deliver...
2009-10-26 06:29:18
Marine engine major in a stalemate [Equipment]
Wartsila’s Q3 pre-tax profits have been almost unchanged from a year ago at EUR125m ($187m). But despite the signs of recovery Wartsila said the shipping industry still faces problems with oversupply within the major ship type segments. “The m...
2009-10-23 01:15:03
Indian expects shipping demand to rise [Shipping]
Essar CEO Anoop Kumar Sharma is confident all of its newbuildings to be delivered in 12 to 18 months will find employment opportunities thanks to rising shipping demand in India. The Indian company boss is also on the lookout for a couple of secondha...
2009-10-23 01:11:01
Wartsila shares down [Finance]
Wartsila shares took a big hit Thursday morning after the engine builder’s third quarter results missed market expectations. Its bottom line, revenue and operating numbers all fell short of consensus forecast. Its shares have fallen 6.46% yester...
2009-10-23 01:08:41
Mitsui ups profit forecast [Finance]
Japanese shipbuilder Mitsui Engineering & Shipbuilding (MES) has raised its earnings forecast. The company now pushed up its net profit forecast for the 12 months to 31 March next year to JPY 14bn ($153.54m), from its previous estimate of JPY 11.5bn....
2009-10-23 01:05:19
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