KR new head office to open in 2011 [General]
Korean Register of Shipping moves its headquarters from Daejeon city to Busan city by the end of 2011. Busan city said on October 21st that KR has completed payment of KRW 14.15bn ($12m) for the use of a lot in Myeong-ji housing complex in Busan. ...
2009-10-21 22:54:08
Panasia develops eco-friendly BWTS [Equipment]
South Korean marine equipment manufacturer Panasia said on October 21st that it has developed ‘GloEn-Patrol’, a ballast water treatment system. The new BWTS consists of two treatment devices, namely filter part and ultraviolet sterilization de...
2009-10-21 22:50:56
Hyundai wins $2.06bn Gorgon [Offshore]
Hyundai Heavy Industries of South Korea has won a massive Gorgon offshore plant project. The world’s largest shipbuilder said it has inked a contract with Chevron on October 21st to build LNG plants worth $2.06bn in total. Under the contract,...
2009-10-21 22:46:23
Rosy outlook for offshore sector [Offshore]
The outlook for offshore support and construction vessels is rosy as the global economy stabilizes, owner and operator EOC claims. The Singapore-based floating production storage & offloading (FPSO) vessel owner did, however, return a weaker annua...
2009-10-21 00:36:56
ONGC eyes seismic pair [Offshore]
India's state-owned exploration-and-production (E&P) operator Oil & Natural Gas Corp (ONGC) plans to charter two seismic vessels to seek new fields off India. ONGC officials say the company is looking to fix one 4,000-bhp, two-streamer vessel and ...
2009-10-21 00:34:36
Ulstein Verft faces funding delay [Finance]
The builder of two well-intervention vessels is sure the owner will secure financing soon. Ulstein Verft, the builder of two well-intervention vessels at the centre of funding delays, is confident of the owner's ability to finance the ships, one o...
2009-10-21 00:32:35
Order cancellations hit Indian yards [Shipbuilding]
Chris Cheney of broker Simpson Spence & Young (SSY) believes India’s new yards will find it difficult to source funds and win newbuilding contracts given the current overcapacity worldwide. Revati Kasture of Mumbai-based Credit Analysis & Resear...
2009-10-21 00:30:36
Owners snapping up coal carriers [Shipping]
Uncertainty was the key word in the Chinese sale-and-purchase (S&P) market after the recent national holiday, claim brokers. But while more modern tonnage continued to be hit by the slump over the past two weeks, there were signs of a minor recove...
2009-10-21 00:28:03
Chinese miner into shipowning [Shipping]
A government push to develop mines in the north of China has pulled in a new player. An ambitious Shanxi-based coal-mining outfit has reacted to government moves to develop China's northern mining operations by going into shipowning. Shanxi Coal G...
2009-10-21 00:25:28
STX denies price war [Shipbuilding]
South Korean shipbuilder STX Offshore & Shipbuilding insists it is holding firm on price despite talk of a desperate bidding war between South Korean shipyards. It was recently reported how newbuilding prices for a capesize are plummeting close to...
2009-10-21 00:22:54
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