Mid-term tanker demand to rise [Shipping]
Tanker owners are obviously contemplating their future strategies as they are faced with serious challenges, with the winter season closing in and demand for oil expected to go upwards. Brokers like UK’s Gibson highlighted that tanker demand wil...
2009-08-25 09:00:01
Maersk sinks into red [Finance]
Danish shipping and oil giant A.P. Moeller-Maersk reported a first half net loss of 3.02bn kroner ($577m) as the global slump depressed freight demand. In the six months to June 2008, the company made a net profit of 11.98bn kroner. A.P. Moeller-M...
2009-08-25 08:45:59
D'Amico cancels 2nd newbuild [Shipping]
D’amico Shipping and Glencore have cancelled a second product tanker newbuilding at SLS Shipbuilding of South Korea. The d’Amico and Glencore joint venture Glenda International Shipping has cancelled a 51,000-dwt product tanker being built at ...
2009-08-25 08:44:44
Indian yards face cancellation threats [Shipbuilding]
The risk of cancellation for delayed delivery is the worst nightmare for a shipyard in falling market. But the risk is increasing for Indian Shipyard. The owner walks away with advance, and shipyard has to work really hard to minimize loss. ABG Sh...
2009-08-25 08:41:08
Longer slump, tougher rivalry [Shipbuilding]
Shipbuilding market recovery is yet far away, some industry experts claim. First, demand for ultra-large containerships over 10,000-teu class, which have been South Korean major shipbuilders’ main products, is expected to dwindle going forward. ...
2009-08-25 08:34:06
Chinese need reform: over-capacity [Shipbuilding]
Amid continued over-capacity in shipbuilding industry, investment in fixed assets had risen 55.5% in China in the first five months of this year, indicating blind investment is remarkably widespread. According to recent statistics released by Chin...
2009-08-25 08:21:25
Emerging yards face restructuring [Shipbuilding]
Emerging shipbuilders in South Korea have grown rapidly amid the prosperity of global shipbuilding market. However, their liquidity position is weak and they face poor management, unstable teamwork of workforce, and inflexible products portfolio. ...
2009-08-25 08:15:29
Techcross develops anti-explosion BWMS [Equipment]
South Korea’s ballast water management system (BWMS) supplier Techcross has developed an anti-explosion-type ballast water treatment system for the first time in the world. It also signed a supply contract of the anti-explosion BWMS with Shitano...
2009-08-24 14:19:14
Sungdong wins 4 capes [Shipbuilding]
South Korean shipbuilder Sungdong Shipbuilding & Marine Engineering has inked a newbuilding contract with Brazil’s mining company Vale on August 21st for the construction of four 180,000-dwt bulk carriers for around $250m. The newbuildings will ...
2009-08-24 13:27:53
ASL Marine downgraded to ‘hold’ [Finance]
DBS Group has downgraded Singapore’s ASL Marine to ‘hold’ from a ‘buy’ citing “limited upside to the current share price”. In a note to clients, analyst Jeremy Thia said the move was prompted by “muted near term growth” prospect...
2009-08-24 11:45:23
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