World’s largest dry dock completed [Shipbuilding]
A dry dock claimed to be the largest in the world in terms of physical size began operation Wednesday at Changxing Island in Dalian, a coastal city in northeast China's Liaoning province, local media reported. STX (Dalian) Shipbuilding, a subsidiary ...
2009-07-02 14:12:17
Cido sells massive tankers to Gulf Nav? [Shipping]
As cash-rich Gulf Navigation is moving ahead with plans to acquire “a large and modern” fleet, market buzz suggests the deal centers around 10 to 12 Cido Shipping product tankers. Some brokers say that the Dubai owner is buying the medium-rang...
2009-07-02 08:32:05
GC Rieber cancels PSV order [Offshore]
Offshore shipowner GC Rieber Shipping has axed a newbuilding contract following delivery delays. Oslo-listed GC Rieber says Polar Marine I, a 51/49 joint venture between GC Rieber and Otto Marine, has cancelled a PSV on order at Indonesia’s Bata...
2009-07-02 08:00:36
New owner of Polish yards revealed [General]
The Polish government has finally ended the mystery over the identity of the new owner of the Gdynia and Szczecin shipyards. It has named Qatari fund Qinvest as the buyer of the two plants at auction in May. The fund had previously been mention...
2009-07-02 07:47:41
$140m for Siem for newbuilding program [Offshore]
Siem Offshore has bagged funds for the remainder of its newbuilding orderbook after securing NOK 900m ($141m) from a huge private placement. Chairman Kristian Siem and president Michael Delouche picked up a third of the shares on offer to institut...
2009-07-02 07:45:06
Golden deal troubled by newbuild delays [General]
Golden Ocean says it could be embroiled in legal disputes now that newbuildings at India’s Pipavav Shipyard have been delayed. The owner seeks to terminate the ships' $360m sale to collapsed Britannia Bulk, but the delay may allow Britannia's ad...
2009-07-02 07:42:31
Daehan promotes tanker designs [Shipbuilding]
Emerging South Korean shipbuilder Daehan Shipbuilding has recently developed a new type of tanker. Daehan, currently undergoing debt workout program, has been specializing in building capesize bulkers, but it moved to expand its product menu agai...
2009-07-02 07:38:28
Kanasashi on track for rehabilitation [Finance]
Japan’s Kanasashi Heavy Industries, which applied for protection under the Corporate Rehabilitation Law in April, was given the go-ahead on June 26 th to begin rehabilitation proceedings from the Shizuoka District Court. Court-appointed receivers h...
2009-07-02 07:36:09
Singapore yard collaborator launches IPO [Finance]
Despite bleak market environment Singaporean shipyard piping services provider Heatec Jietong has launched a S$3.7m ($2.5m) initial public offering. Heatec launched its IPO on Singapore’s second board, Catalist, on Wednesday aiming to raise funds f...
2009-07-02 07:34:08
Boxship scrapping to hit record highs [Shipping]
Containership demolitions are set to reach new heights this year, making a modest dent in fleet expansion. Industry experts are projecting boxship scrapping of between 200,000 teu and 300,000 teu, more than double the amount sent to shipbreakers ...
2009-07-02 07:31:15
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