Changes in syndicated ship loans [Finance]
In syndicated loans for shipbuilders, the composition of participating financial institutions is changing. During the shipping boom which lasted until the fall 2008, banks foraying into the ship financing business via syndicated loans increased in...
2009-10-09 07:53:04
DNV opens new office in Abu Dhabi [General]
Risk management specialist DNV has brought its business units under one roof in Abu Dhabi with a newly opened office in the Al Mushrif area. On the maritime front Liam Carroll is appointed station manager for the new office employs over 40 staff w...
2009-10-09 07:50:02
Cautious optimism on recovery [Shipping]
Leading figures in Middle East shipping expressed confidence that the local industry was “weathering the storm” while speaking at the Money & Ships conference. “I am confident that recovery is on the way and we are much better off than we we...
2009-10-09 07:47:32
Boxship delivery delays exceed 100 [Shipbuilding]
Changes in the newbuilding contracts for containerships continue to increase. According to computations made by foreign media source, a total of 107 ships have already been subjected to delivery deferment as of early October this year. The number ...
2009-10-09 07:42:44
Transpetro bids pushed back [Offshore]
Transpetro said Thursday that it has given shipyards more time to submit proposals to provide eight LPG carrier newbuildings. The Brazilian company, a shipping arm of Petrobras, says shipyards requested the delay. Yards now have until October 29th...
2009-10-09 07:36:48
Daewoo executives indicted for bribery [General]
An executive director at Daewoo Shipbuilding & Marine Engineering of South Korea was taken into custody and brought in an indictment Thursday on suspicion of committing bribery with subcontractors. According to prosecutory authorities, he is suspecte...
2009-10-09 07:16:17
Marine equip makers 'emergency' [Equipment]
South Korea’s shipbuilding equipment makers are said to be faced with severe management difficulties in the wake of the global marine industry recession. According to Korea Marine Equipment Association (KOMEA), small and midsize shipbuilding equ...
2009-10-09 07:12:18
Vale agrees to order 8 VLOCs from STX [Shipbuilding]
Brazilian iron ore exporter Vale is ready to order another eight very large ore carriers worth around $920m in total. A spokesperson for STX Offshore & Shipbuilding of South Korea confirmed Wednesday that Vale had agreed to order eight, 400,000-dw...
2009-10-08 15:02:25
Russian fail to secure newbuild fund [Finance]
The two Russian-owned shipping companies Aqueda Shipping Limited and Mariora Shipping Limited have not achieved funding for the construction of two advanced trawlers within the time that was agreed in the contract with Bergen Group's subsidiary Berge...
2009-10-08 14:25:15
STX Europe wins new PSV order [Offshore]
STX Europe has been awarded a contract from Deep Sea Supply for design and building of a Platform Supply Vessel. The new PSV 09 CD design, optimized for eco-drive in all weather conditions, is designed by STX Europe in Ålesund, Norway. ...
2009-10-08 14:15:49
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