Shipbuilding growth stumbling in China [Shipbuilding]
Chinese shipbuilding industry has been realizing fast growth until recently, doubling net profits every year for the last five consecutive years thanks to unprecedented shipbuilding super-boom and its stunning GDP growth. But the industry's revenu...
2009-07-14 13:19:58
China constructing six new shipyards [Shipbuilding]
Construction of six shipyards began in three provinces of China in the first half of this year and the total investment is said to amount to 530m yuan ($77.5m). The number of vessels under construction there is six and they are expected to generat...
2009-07-14 11:50:50
New breakers hike prices [General]
Fresh entrants to the shipbreaking market are driving up demolition prices for owners who are willing to take a risk. US-based cash buyer GMS said that new demolition yards are seeing increasing opportunities in the market, as tonnage remains plen...
2009-07-14 07:13:04
MSC sells tweendecker for scrap [General]
Mediterranean Shipping Co (MSC) has sold the 20,216-dwt MSC Cristiana (built 1984) to an Indian shipbreaker, brokers say. The ship fetched $255 per ldt, reports claim. It was reported in April MSC had sent 15 owned and nine chartered ships for ...
2009-07-14 07:11:28
Vroon ‘will not cancel’ Cosco orders [Shipbuilding]
Vroon BV has no intention of cancelling any of its orders for bulker newbuildings in China after the yard announced agreed delivery delays. The Dutch shipowner has also said it has four and not six post-panamaxes on order at Cosco Zhoushan and tha...
2009-07-14 07:09:09
Namura to cut operation hour [Shipbuilding]
Japan’s Namura Shipbuilding will slash its annual operation hour to 3.2-3.3 million man-hours from the initially projected 3.6 million man-hours in the next two to three years, President Tatsuhiko Namura said. The company had earlier planned to...
2009-07-14 07:05:43
Shippers beefing up their own fleet [Shipping]
Major steelmakers, electric utilities and mining firms are beefing up their own shipping division through procurement of vessels while arranging business tie-ups and establishing joint shipping ventures with operators. Such moves are prominent am...
2009-07-14 07:04:12
Turkish shipbuilding capacity soars 65% [Shipbuilding]
Turkish shipbuilding activity has accelerated hugely in recent years and Turkey is now the fifth leading shipbuilder in the world, with a 1.5% market share. Over the past four years it is estimated that the country’s shipbuilding capacity has ri...
2009-07-14 07:01:54
Statistics hide Polish yards job losses [General]
Shipyards in Poland created thousands of new jobs in June, according to the European Commission. However, the figures are a statistical quirk hiding real job losses, foreign media reports. The July edition of the European Union’s employment situ...
2009-07-14 06:59:43
Floating storage of CPP jump in June [Shipping]
The volume of clean petroleum products (CPP) stored at sea has jumped nearly 50% in June and could continue to increase. Storage of CPP, predominantly diesel, on tankers has risen from 34m barrels to 50m barrels in the month, according to London b...
2009-07-14 06:56:49
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