Tanker stage to recover in 2010 [Shipping]
A Dahlman Rose analyst cut his earnings estimates for tanker players Tuesday and said the sector is set for recovery next year. Analyst Omar Nokta says lower Opec output and slumping refinery margins are the main overhangs hurting tanker rates, an...
2009-09-30 07:20:28
IHI completes largest LNG terminal [Offshore]
IHI announced on September 28th that it has completed the LNG import terminal it had been constructing at suburb of Hackberry, Louisiana. The terminal has three LNG tanks, making it the largest LNG terminal in the US, capable of accepting 7 to 12...
2009-09-30 07:18:06
Strong yen hits yard performance [Finance]
Concern is now emerging over the possibility of the business results of Japanese shipyard going downwards owing to the movement of the foreign exchange rate toward the strong yen side, with the exchange rate having dropped below Y90 to the dollar in ...
2009-09-30 07:15:25
BWMS treaty takes effect in 2010 [Equipment]
Activity toward the installation of ballast water management systems (BWMS) is increasing. Information has surfaced that Panama, the largest ship registry nation, will ratify a treaty early next year and now focus is shifting to when it will come ...
2009-09-30 07:11:17
Offshore slump to stretch into 2010 [Offshore]
Offshore support vessel (OSV) players are faced with another difficult year in 2010, although there should be some recovery over this year’s market. Pareto senior vice-president Christian Loken said an OSV newbuilding orderbook of around 30% of ...
2009-09-30 07:05:20
Vale builds more VLOCs [Shipbuilding]
The world’s largest iron ore exporter Vale has reportedly ordered another four very large ore carriers. The Brazilian miner has declined to confirm reports that the contract was signed with South Korea’s Daewoo Shipbuilding & Marine Engineerin...
2009-09-30 07:02:18
CMA CGM to cut orders [Shipping]
CMA CGM is expected to cancel and delay newbuildings as it sets up a committee to arrange a cash injection. The French liner, currently making losses, is now rumored to be seeking state aid to continue as a going concern. In a statement on Tues...
2009-09-30 06:58:34
Cancellations hit 181 ships in China [Shipbuilding]
The China Association of the National Shipbuilding Industry (CANSI) announced on September 25th in its report on the state of the country's ship industry for the January-August 2009 period that the number of newbuildings in the country whose orders w...
2009-09-30 06:55:44
HHI, preferred bidder for Hyundai Corp [Finance]
Korea Exchange Bank, the main creditor bank of Hyundai Corp said on September 29th that Hyundai Heavy Industries has been chosen as the priority negotiator for the purchase of Hyundai Corp. In May the tender collapsed due to price difference betwe...
2009-09-30 06:27:14
China in full chase of Korea [Shipbuilding]
In the global shipbuilding industry, China is now in hot pursuit of South Korea, the world’s No. 1 shipbuilding nation. According to the statistics collected by Clarkson Research Services, Chinese shipbuilders secured new orders of 670,000 cgt i...
2009-09-30 06:20:44
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