Owners face $65bn newbuild funding gap [Finance]
Shipowners face an annual $80bn funding gap for newbuildings and secondhand ship purchases as banks cut their exposure to maritime sector. Bank of Ireland head of maritime industries Paul Packard said that there were an estimated $650bn of newbuildi...
2009-07-02 07:28:41
India reviews sale of SCI and Cochin [Finance]
The Indian government is again reviewing prospects for the sale of a stake in state-owned Shipping Corporation of India (SCI). It may also consider selling shares in the state-controlled shipbuilder Cochin Shipyard through an initial public offeri...
2009-07-02 07:23:28
Rousse Shipyard workers get half salary [General]
The workers of Rousse Shipyard in Bulgaria's Danube city of Ruse have received a 50% of one monthly salary Tuesday. On Monday, the 600 workers declared civil disobedience and started a permanent strike refusing to return to their work spots as the...
2009-07-02 07:18:45
USC builds $1bn new shipyard [Shipbuilding]
Russia’s United Shipbuilding Corporation (USC) is investing $1bn in the construction of a new shipyard in Kronshtadt, said Valery Venkov, head of USC’s advanced development department. The site on Kotlin Island is 15 miles from St Petersburg. ...
2009-07-02 07:14:12
New era for ship electronics industry [Equipment]
‘The Korea Ship Electronics Industry Development Association’ was established with eye to getting in the vanguard of next generation ship electronics IT market. Busan City, South Korea held the inaugural general meeting of the association at t...
2009-07-02 06:45:25
Greek tycoons on buying spree [Shipping]
Cash-rich Greek shipping tycoons, quick in responding to the change in economic cycle, are buying secondhand ships in quantities amid global economic downturn. They are hunting low-priced used vessels which were put on the market by financially tr...
2009-07-02 06:39:29
Japan yards switching to young leaders [General]
Four leading unlisted shipyards representing Japan will now be led by managers in their 40s who were born in the 1960s. Along with Imabari Shipbuilding and Tsuneishi Holdings, Oshima Shipbuilding and Onomichi Dockyard also welcomed new presidents in ...
2009-07-01 12:15:32
Yantai Raffles launches world's first ESV [Offshore]
China’s Yantai Raffles Shipyard Limited has successfully executed the launch of its first Elevating Support Vessel (ESV) for Remedial Offshore. The launching ceremony celebrated a major milestone in construction of one of the world’s first ESV...
2009-07-01 11:42:57
Pipavav eyeing IPO by September [Finance]
India's Pipavav Shipyard plans to raise 5bn rupees ($104m) via an initial public offering by the end of September, much less than its original aim of 12bn rupees, a senior executive at the shipbuilder said. "We have approval from Securities and Excha...
2009-07-01 11:22:26
Shipbuilders gamble on the 2nd half [Shipbuilding]
South Korea’s Hyundai Heavy Industries, the world’s No. 1 shipbuilder and its compatriot rivals saw an abrupt decrease in new ship orders in the first half of the year due to a prolonged global shipping and shipbuilding downturn. But they are ...
2009-07-01 11:03:51
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