Major stake in Tebma for sale [Finance]
Private equity company ICICI Venture is reportedly looking to sell its 53% stake in India’s Tebma Shipyards. The firm has approached India’s biggest private shipyard ABG as a potential buyer, local media reported. ICICI has turned to ABG after...
2009-09-22 07:23:52
Gazprom to order 2+2 gas ships [Offshore]
A framework agreement between Sovcomflot and Vyborg Shipyard may bear fruit with rumors Gazprom is set to order LNG carriers at the yard. The Russian energy giant may also pencil in two optional contracts at the compatriot shipbuilder, according t...
2009-09-22 07:20:31
Vale builds tugs and barges in Brazil [Shipbuilding]
After closing the purchase of an iron ore mine from rival Rio Tinto, Vale says it plans to spend $1.5bn on tug-and-barge convoys for the facility's logistics network. The Brazilian company, which is the world's largest iron ore producer, has compl...
2009-09-22 07:16:07
STX wins Vale's $5bn COA [Shipping]
STX Pan Ocean and Vale are finalizing a contract of affreightment (COA) worth as much as $5bn. Under the deal, the South Korean bulker owner will carry about 300 million tons of iron ore for Vale, the major Brazilian iron ore miner. STX will carry...
2009-09-22 07:11:51
Fincantieri squeezes out profits [Shipbuilding]
Italian state-owned shipbuilder Fincantieri somehow managed to squeeze out a profit in the first half of this year. Otherwise, however, its latest earnings statement only served to underline how much pressure the company, and the wider European sh...
2009-09-22 07:06:39
Russia gears up LNG carrier order [Offshore]
Russian shipyards have submitted plans to expand their facilities in order to build LNG carriers for state-controlled energy major Gazprom’s Arctic gas export projects. Gazprom said it will need at least 23 LNG carriers built by 2020 to meet its...
2009-09-22 07:02:47
Daewoo develops integrated co-op system [Equipment]
South Korea’s Daewoo Shipbuilding & Marine Engineering has launched an integrated cooperation system through which it can share business information with around 4,000 collaborative companies in real time. The world’s leading shipbuilder said i...
2009-09-22 06:42:55
Shanghai prioritizes ship financing [Finance]
Tu Guangshao, vice mayor of Shanghai, said at the China Financial Leasing Summit held on September 19th, that Chinese government will provide financing preferentially for new energy source development and offshore unit & ship construction industry. ...
2009-09-22 06:33:50
Ship financing urgently needed [Finance]
China is further accelerating its pursuit of the world’s No. 1 shipbuilding nation which is now taken by South Korea. Chinese yards have swept more than half of new orders this year through low-price order-intake drive and attractive ship financ...
2009-09-22 06:29:10
Offshore bonanza drives recovery [Offshore]
Asian shipyards have woken up after a deep slumber but the recovery will be led by an offshore bonanza and not merchant vessels says a new report from HSBC Global Research. Although vessel orders have gathered steam in recent months, HSBC says tha...
2009-09-21 14:53:30
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