Massive deliveries worried [Shipping]
A gradual improvement in shipping volumes is likely to be hampered by the glut of tanker and bulker tonnage expected to hit the market soon, South African owner Grindrod warned. Demand is set to improve in the dry bulk market but remain weak for ...
2009-08-21 07:30:49
Korean workers growth slows [General]
According to a personnel survey conducted and compiled by the Korea Shipbuilders' Association (Koshipa) on its nine member shipbuilders, the total number of workers in the shipbuilding division as of the end of 2008 came to 101,632, up 1.5% from 2007...
2009-08-21 07:27:38
Bergen workers facing job losses [Finance]
Workers at Bergen Group’s Fosen shipyard in Norway are facing the possibility of job losses despite the shipbuilder posting more profits and higher revenues. The addition of the Fosen shipyard in July last year boosted Bergen Group’s revenues...
2009-08-21 07:24:56
Pakistan eyes fleet expansion [Shipping]
Pakistan National Shipping Corp (PNSC) plans to expand its fleet and replace a number of ageing vessels, according to PNSC chairman Dikanda Naqvi. The company will acquire two double-hull aframax tankers in the short term at an estimated cost of ...
2009-08-21 07:22:55
StealthGas upbeat on LPG sector [Offshore]
The comparative health of its core liquefied petroleum gas shipping market has been extolled by Athens-based StealthGas as it announced a cut in profits for the second quarter of this year. The Nasdaq-listed owner of 40 LPG and three product tank...
2009-08-21 07:18:06
Navios buys capesize resale duo [Shipping]
Greece's Navios Maritime Holdings has acquired a further pair of capesize newbuildings, which will be paid for with a combination of cash and convertible preferred stock. The vessels in the agreement, which have a nominal value of $141.5m, are tw...
2009-08-21 07:15:42
Baosteel returns for ore negotiations [Equipment]
China will abandon its disastrous experiment of putting the China Iron & Steel Association (CISA) in charge of iron ore price negotiations this year, an Australian newspaper reports. The nation's biggest steelmaker, Baosteel, will be brought back to ...
2009-08-21 07:12:27
Mitsui wins cargo-passenger ship [Shipbuilding]
Japan’s Mitsui Engineering & Shipbuilding (MES) announced on August 19th that its affiliate shipyard ISB has received an order for a 1,500-grt cargo-passenger ship from the Ministry of Transport of the Kingdom of Tonga. The order is in line with th...
2009-08-21 06:59:46
Signs of recovery... [Shipbuilding]
Some shipbuilding players expect that newbuilding market would soon enter the recovery phase despite current situations of a collapse in freight rates, a surge in old ship scrapping and a dearth of newbuilding orders. According to industry analysi...
2009-08-21 06:37:49
Jinhaiwan renamed Jinhai Heavy Industry [General]
Recently, China's Zhoushan Jinhaiwan Shipyard held a board meeting after it finalized the revamp of company organization. At the meeting, the bill that the shipbuilder be renamed "Jinhai Heavy Industry" was passed. Zhoushan Jinhaiwan subsidiary...
2009-08-21 06:28:13
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