Tanker-FPSO conversions set to rise [Offshore]
At least 60 tankers could be removed from the global fleet for conversion into floating production storage and offloading vessels in the next five years as demand for developing new offshore oil fields improves. Demand for FPSOs dropped in 2008 w...
2009-07-08 07:14:41
Japanese majors raise R&D investment 11% [General]
Research and development (R&D) spending by major shipbuilding and heavy machinery companies in Japan is projected to grow 11 per cent to 203.5 billion yen (US$2.1 billion) for the year ending March 2010, with the top-ranked Mitsubishi Heavy Industrie...
2009-07-08 07:11:50
Russian super shipyard project starts in 2010 [Shipbuilding]
The construction of a super shipyard in Kronshtadt (Kotlin island, Leningrad region) is to commence in 2010 provided that Vnesheconombank (VEB) grants a credit, local media reported. According to Georgy Poryadin, BoD Chairman of Vyborg Shipyard, V...
2009-07-08 07:06:35
Scrapped ships total 487 in H1 [General]
Ships sold for scrap were fewer during June compared to previous months, according to figures released in the latest monthly report of shipbroker N Cotzias. Still, during the first half of the year a record of 487 ships of all types have been dem...
2009-07-08 06:56:43
Shipping firms sell ships to Kamco fund [Shipping]
Some of South Korea’s leading shipping companies are among maritime operators aiming to take advantage of a sale-and-leaseback fund led by state-controlled Korea Asset Management Corp. Hanjin Shipping, Hyundai Merchant Marine and STX Pan Ocean have...
2009-07-08 06:49:34
Dayang dock accident kills four [General]
According to local sources from Yangzhou City, China, there was an accident at around 4 PM local time on June 29th in Yangzhou Dayang Shipbuilding's dock where steel-framed roof suddenly collapsed during its setting up, causing six casualties in tota...
2009-07-08 06:16:25
LNG newbuilding reactivates [Offshore]
LNG carrier shipbuilding market is beginning to show life as newbuilding tenders are being launched starting from June. LNG carrier newbuilding tenders resumed after a couple-of-year hiatus and order receipt competition is expected to get fierce a...
2009-07-08 06:13:13
Chinese eye VLCCs for storage [General]
China’s Southern Petrochemical turned out to be the buyer of Eastern Mediterranean Maritime’s 281,751-dwt VLCC Agios Nikolaos III (built 1991). Chinese oil traders have their eyes toward Singapore's bunker market and are buying VLCCs for stora...
2009-07-07 17:38:59
Japan yards still receiving new orders [Shipbuilding]
Japan’s shipyards continue to secure newbuilding orders but at levels that are significantly down from a year earlier. A total of eight ships of 141,880 gt were ordered in May, according to statistics from the Japan Ship Exporters’ Association...
2009-07-07 17:18:57
Suezmax resale fetches $72m [Shipping]
Greek owner Metrostar Management has sold two Suezmax tanker newbuildings in a resale deal for $72 million apiece, according to a foreign media report. The 160,000-dwt vessels are due for completion at Hyundai Heavy Industries in October 2009 and...
2009-07-07 12:25:09
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