4,300 ships to be scrapped by 2014 [Shipping]
As global shipping market faces fleet oversupply situation, shipowners are increasingly planning to demolish old vessels and a senior industry executive forecast some 4,300 ships would be sold for scrap worldwide by 2014. American Bureau of Shippi...
2009-07-01 06:43:21
CSIC operating profit to top CNY120bn [Shipbuilding]
The sales of China Shipbuilding Industry Corporation (CSIC) in the five months to May this year increased by 16.4% year-on-year while its net profit jumping by 23.3%, indicating the shipbuilding group is developing stably despite the current economic...
2009-07-01 06:40:07
Rumor and truth on order intakes [Shipbuilding]
South Korea’s STX Offshore & Shipbuilding received MR tanker orders last month, breaking 8-month long orders drought, but it was rumored that the shipbuilder inked the contract at ‘too low prices’, making little profits. Later in the same mo...
2009-07-01 06:35:38
Sri Lanka mulls shipbuilding at southern port [Shipbuilding]
The Sri Lankan government wants to attract investments for shipbuilding, and cement and fertilizer manufacturing at a new port being built in southern Hambantota. Sri Lanka Ports Authority (SLPA) chairman Priyath Wickrama said construction work o...
2009-06-30 15:05:25
Chinese equipment makers hit by orders drought [Equipment]
The halt in businesses of new ship orders give straight cut in shipbuilding equipment manufacturing sector, given that many key ship fitting companies in Jiangsu eye great decline in their new orders. What’s worse, part of them suffer heavy orde...
2009-06-30 14:48:00
Rousse Shipyard workers go on protest [General]
More than 600 workers from Bulgaria's Rousse Shipyard refused to go to work on June 29th. Syndicate leader Hristo Yordanov's official explanation is that this is a protest against two months' unpaid salaries. "You can interpret this as employee...
2009-06-30 14:36:51
FPSO-dedicated H Dock into production [Offshore]
The world’s first FPSO (Floating Production Storage and Offloading Unit) dedicated dock got into operation. Hyundai Heavy Industries on June 30th held a keel-laying ceremony for Usan FPSO at its H Dock which had been completed in April. The $...
2009-06-30 12:27:05
Dof Subsea cancels MPSV newbuilding [Offshore]
Dof Subsea has axed an order for a multi purpose supply vessel (MPSV) at Tebma Shipyard in India. It says hull number 143 has been cancelled but it is declining to reveal further details. CEO Steve Brown says Dof Subsea has had issues with the yar...
2009-06-30 08:03:15
Indian insurer ups stake in Bharati [Finance]
India’s Life Insurance Corp (LIC) has raised its holding in domestic shipbuilder Bharati Shipyard. The company acquired 0.72m shares or 2.6% of the company on the open market between 18th and 24th June, Bharati said. The insurer now has a 9.66% ...
2009-06-30 07:57:38
Gulf Navigation builds tanker fleet [Shipping]
Dubai-based Gulf Navigation Holding PJSC announced on June 25th that it has entered the final phase of negotiations to acquire a large-size and modern tanker fleet, according to foreign media report. Gulf Navigation said that it had been seeking oppo...
2009-06-30 07:55:04
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