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Shipbuilders face choppy seas
[Shipbuilding]
Local newspaper reported that for Chinese shipbuilders this is probably the worst of times and the hardest period has yet to come. Major shipowners both domestic and foreign are expected to go slow on new orders during the next one and a half yea...
2009-09-01 07:13:02
Fincantieri lays off more
[General]
Falling workloads at Fincantieri’s yards around the world have prompted another bout of layoffs, this time at the Italian state-owned shipbuilder’s Sestri Ponente facility in Genoa. Under an agreement reached on Thursday with yard unions, 233...
2009-09-01 07:10:06
Metrostar mulls newbuilding resale
[Shipbuilding]
Greek owner Metrostar Management is contemplating the sale of another newbuilding tanker. The company is said to be discussing the sale of one of its 310,000-dwt VLCCs set for delivery in January from South Korea's Hyundai Heavy Industries. Sou...
2009-09-01 07:06:51
Shipbuilding stimulus bears fruit
[Shipbuilding]
Since the global financial crisis and economic downturn began at the end of 2008, Chinese government has continued to announce 10 main industries adjustment and promotion plans for economic stabilization and rapid growth. The main purposes of the ...
2009-09-01 06:43:44
Brazil wins Petro- FPSOs
[Offshore]
Brazil’s Engevix is said to be most likely to win the Petrobras’ eight FPSO newbuilding tender. Engevix, which is competing in the bidding together with its consortium partner GVA of Sweden, is doubted whether it can really build the hulls. ...
2009-09-01 06:36:03
Bach Dang launches ethylene gas carrier
[Shipbuilding]
Vietnam’s Bach Dang Shipbuilding Industry Company launched a 4,900-dwt ethylene gas-carrying vessel, the first of its kind, in the northern port city of Hai Phong on August 28th. The King Arthur, 104m long, 16.4m wide, 8.4m high and capable of c...
2009-08-31 13:55:14
TAS raises $20m through IPO
[Finance]
Malaysian offshore vessel builder TAS Offshore has raised an estimated MYR69.3m ($19.7m) following its listing on the Malaysian Stock Exchange Friday. The shipbuilder specializes in the construction of anchor handlers and tug supply vessels. TA...
2009-08-31 13:45:01
Polish yards deal imminent
[Finance]
The Polish shipyards deal shrouded in secrecy and involving the $60bn Qatar Investment Authority (QIA) is apparently close to being sealed. Sources close to negotiations aimed at rescuing the approximate $130m sale of Poland's Gdynia and Szczecin ...
2009-08-31 07:19:27
Hantong secures massive orders
[Shipbuilding]
Jiangsu Hantong Ship Heavy Industry is one of the few yards in China to have secured newbuilding contracts during the market downturn. Executive director Wu Yiwen says it has sealed orders for 12 supramaxes of 57,000 dwt this year, despite the poo...
2009-08-31 07:16:18
China subsidizes ageing ship scrapping
[General]
Chinese government is offering subsidies to owners prepared to scrap older tonnage. Shipowners are preparing for a raft of new government restrictions that could see the days of ageing bulkers numbered. Transport officials are working on a new ves...
2009-08-31 07:13:12
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