Mitsui develops 30% cheaper BWTS [Equipment]
Japan’s Mitsui Engineering & Shipbuilding (MES) has developed a ballast water treatment system (BWTS) of which installation price is up to 30% lower than other products. The new BWTS does not need additional power generation facilities as it uses u...
2009-08-25 13:32:34
Steel plate prices making rally [Equipment]
The prices of thick steel plates for shipbuilding are showing a mixed trend of late. They started to make a rally after hitting the bottom as China’s largest steel maker Baosteel Group has raised September prices for its major products by as muc...
2009-08-25 13:01:24
Scrap prices up again [General]
Ship scrap prices have surged again, driven by Bangladeshi hunger for tanker tonnage. As local steel plate prices finally rose and several vessels were offered for sale, levels reportedly broke through the $380 per ldt level, US-based cash buyer G...
2009-08-25 11:13:32
Tanker market faces huge newbuild deliveries [Shipping]
Accelerated newbuilding deliveries in the second half of this year will hinder a recovery in the tanker market even if oil demand improves, a leading analyst warns. But further hurt can be avoided in 2010 as increased scrapping, rising Asian impor...
2009-08-25 11:09:47
Jaya profits fall 99% [Finance]
A heavy loss from its shipbuilding division sliced Jaya Holding’s profit by 99% in fiscal 2009. Jaya, which issued a profit warning last week following its recent financial difficulties, recorded impairment charges of SGD 99.4m ($69.0m) on its b...
2009-08-25 09:28:52
Austal profits plummet [Finance]
Austal's profits plunged in 2009 as write-downs from the vessels ordered by bankrupt Hawaii Superferry took a pummelled the bottom line. The Australian shipbuilder also reported a 19.1% drop in full-year revenues, but its managing director says it...
2009-08-25 09:25:57
German bank prepares for value adjustments [Finance]
German ship finance bank Deutsche Schiffsbank has reported a profit of €21.3m ($30.5m) after tax in the first half of the year, compared to a profit of €26.2m in the same period of 2008. The bank is preparing for difficult times and expects an in...
2009-08-25 09:22:32
Chem tanker to be fragile until 2011 [Shipping]
Odfjell, one of Bergen’s leading industrial chemical tanker owners, does not expect to see its market pick up until 2011. Although chemical shipments are likely to improve, Odfjell interim chief executive Jan Hammer fears that the surge of newbu...
2009-08-25 09:19:27
Bulker rates set for collapse [General]
Capesize rates are likely to be in freefall this week after what brokers said was a sudden collapse in the market following a surge in the number of vessels coming charter free. Brokers said market sentiment was likely to be dismal in the absence ...
2009-08-25 09:15:16
Iran’s fledgling yards set a milestone [Shipbuilding]
Iran's second home-made oceangoing ship named 'Iran Arak' has been launched in the southern waters of the country in a ceremony attended by Iranian President Mahmoud Ahmadinejad. The ship was made by Iranian experts and at the Industrial Developme...
2009-08-25 09:04:29
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