Hyundai changes 2-158K to 3-105K [Shipbuilding]
According to market reports, South Korea’s Hyundai Heavy Industries has changed the two 158,000-dwt suezmax tankers ordered by Greek owner Phoenix Energy Navigation into three 105,000-dwt aframax tankers. The two companies concluded the deal for...
2009-10-07 07:01:09
HVS goliath installed [Equipment]
The installation of a 450-ton class goliath crane is almost completed at the No. 1 dock of Hyundai-Vinashin Shipyard (HVS). HVS recently lifted the girder to the height of 86 meters from the ground to place it on top of the two legs of the crane, ...
2009-10-07 06:42:21
Boxship orderbook risk rising [Shipbuilding]
As containership owners continue to suffer from market downturn, South Korean shipbuilders which have large amount of boxship orderbook are faced with increasing risk of order cancellations or default on newbuilding contract. So far, shipyards have r...
2009-10-07 06:36:14
Rowan resumes rig newbuilding [Offshore]
Rowan Companies decided to restart construction of a jack-up rig that was suspended in February due to the credit crisis. It said work would recommence on its fourth EXL class jack-up rig at Keppel AmFELS in Brownsville, Texas, United States. Deli...
2009-10-06 11:59:14
Ethiopian to order MPPs in China [Shipbuilding]
Ethopian Shipping Lines (ESL) is placing a newbuilding order at China's Taizhou Kouan Shipbuilding, foreign media reports. Sources say the national shipping company has inked a letter of intent for a series of multipurpose (MPP) vessels at the shi...
2009-10-06 07:36:45
Grimaldi wins newbuild financing [Finance]
The European Investment Bank (EIB) has provided EUR 80m ($116.78m) in financing for Italian owner Grimaldi Compagnia di Navigazione’s newbuilding program. The package is the second tranche of a total EUR 250m in loans that EIB approved for Grima...
2009-10-06 07:34:09
NAT buys suezmax for $51.5m [Shipping]
Nordic American Tanker Shipping is using all cash to buy its 17th suezmax. The NYSE-listed tanker owner said Monday that it is paying $51.5m to buy a 2002-built ship. Nordic American did not identify the double-hull tanker, except to say that it w...
2009-10-06 07:30:42
VLCC S&P talks gaining momentum [Shipping]
Negotiations for the sale and purchase of VLCCs which have been suffering from thin trading conditions of late have been manifesting activity again since the turn of September. Seven ships were reportedly traded last month, with the vessels due t...
2009-10-06 07:28:21
FLNG to hit $23bn [Offshore]
Cash spent on the fast emerging floating liquefied natural gas sector is expected to crack $23 billion by 2016, with Asia accounting for 23% of that, a senior official from Lloyd’s Register said. The British classification society forecast worl...
2009-10-06 07:26:52
LNG shipping to recover [Offshore]
The LNG shipping market ‘dipped to historic lows earlier this year’ as a result of the recession and production plant delays, shipping association BIMCO reports. ‘However, the sector is emerging from its nadir and beginning a slow recovery.’ ...
2009-10-06 07:23:19
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