Vinashin in financial agony [Finance]
Vietnam’s state-owned shipbuilding giant Vinashin is running up huge debts and its projects are now behind schedule for months, local newspaper reported. The paper cited the Nam Trieu Shipbuilding Industry, also known as Nasico, as saying its paren...
2009-10-19 06:49:50
Wadan floats 4 dump barges [Shipbuilding]
Four more dump barges built at Nikolaevskii shipyard Wadan Yards Оkean under Nibulon SP LLC (the Ukrain) were floated out on October 16, 2009. The company’s fleet consists of 8 dump barges to the date which gives the company opportunity to tran...
2009-10-19 06:47:59
ABG & Bharati battle for supremacy & survival [General]
The two prominent reasons given for takeover of India’s Great Offshore Limited by compatriots Bharati Shipyard and ABG Shipyard are that it’s a forward integration of their existing business which will help them to fetch enough newbuilding orders...
2009-10-19 06:45:53
Tanker orders hit 30-year low [Shipping]
Paris-based shipbroker Barry Rogliano Salles (BRS) said the tanker sector faces the biggest annual order drop for 30 years. So far in 2009, contracting activity is down 87% by deadweight. According to BRS, "In the first nine months of this year, j...
2009-10-19 06:42:44
Newbuild prices still falling [Shipbuilding]
While shipbuilding market slump is ongoing, newbuilding prices are still on the decline. According to industry sources, newbuilding price indices of bulker, tanker and containership as of September fell 29%, 27% and 30% year-on-year respectively. ...
2009-10-19 06:26:28
Intersleek surpasses 100 ship mark [Equipment]
Ship paints specialist IPK said last week that anti-fouling paint Intersleek series have now been applied to 100 ships in total. Intersleek 700 and Intersleek 900 have been used in 50 newbuildings and 50 secondhand vessels in repair. IPK said i...
2009-10-19 06:21:22
Diversification spree [General]
Amid deep slump in shipbuilding market, South Korean major shipbuilders are now finding new cash cows in onshore plant sectors such as thermal power generation as well as solar and wind power businesses. They seem to be shifting their focus onto p...
2009-10-19 06:18:48
SinoPacific (Dayang) wins 16 supramaxes [Shipbuilding]
A low-profile shipowner called Turner Shipping has been identified as being behind dozens of supramax bulker orders in China, including a fresh deal for 16 newbuildings. Turner is said to have offices in Europe but with indirect partnership ties w...
2009-10-16 16:45:38
Daewoo wins five suezmaxes [Shipbuilding]
Angola’s state-owned oil company Sonangol Group has placed an order for five suezmax tankers at South Korea’s Daewoo Shipbuilding & Marine Engineering at a price of just over $60m per ship. At the peak of the newbuilding market last year, it c...
2009-10-16 16:17:56
Newbuilding price war starts [Shipbuilding]
South Korean yards are said to be marketing capesize newbuilding contracts at as low as $55m apiece in the order-intake competition with domestic rivals. They seek to be the first to benefit from increased interest from shipowners. Brokers say som...
2009-10-16 16:06:55
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