Wuchang constructs new shipbuilding base [Shipbuilding]
Amid the slump in shipbuilding market, Wuchang Shipbuilding Industry Company embarks on the construction of a new shipbuilding base. According to local industry sources, Wuchang has recently signed an agreement with Xinzhou, Hubei Province govern...
2009-06-25 13:45:47
Ferry market to see casualties [General]
A leading player in the Mediterranean ferry market has warned that there will be casualties before the year is out as the economic recession continues to hit consumer demand. “There are too many companies in the western Mediterranean and the la...
2009-06-25 07:51:09
Eastwind files Chapter 7 [Finance]
Eastwind Maritime has filed for Chapter 7 bankruptcy. This form of bankruptcy presupposes that the company is beyond hopes of reorganization, and leads to liquidation. In papers filed Wednesday morning on behalf of Eastwind’s individual sub-firm...
2009-06-25 07:44:59
Glovis may order PCTCs [Shipbuilding]
Glovis Co., a logistics company under the Hyundai-Kia Automotive Group of South Korea, appears to be planning to order pure car / truck carrier (PCTC) newbuildings. According to local media, the company plans to place an order for two to three shi...
2009-06-25 07:36:55
IHIMU-USC merger undecided yet [Shipbuilding]
IHI Corp. is ramping up the pace of its business restructuring through mergers with other companies. Following the merger with other makers regarding its bridge and floodgate operations, it has also decided to merge with JFE Engineering Corp. for its...
2009-06-25 07:33:33
Idle boxships decreasing [Shipping]
According to French maritime consultant AXS Alphaliner, 517 containerships totaling 1.24 million TEUs were laid up or otherwise put on hold at sea at the world's ports and anchorages as of June 22nd. This number is equivalent to 9.7% of the world'...
2009-06-25 07:27:34
Shtokman to launch LNG tender [Offshore]
According to informed sources, Russia's Shtokman LNG Project appears set to hold an international tender to procure LNG carriers by as early as coming fall. The bidding will be done for 7-9 LNG carriers which will be needed in Phase 1 of the proje...
2009-06-25 07:21:44
VLCCs used for clean product storage [Shipping]
An increasing number of very large crude carrier newbuildings are being hired to store clean petroleum products (CPP) as an alternative to land-based tankage. VLCCs and suezmax tankers are being chartered straight from the delivery yards before e...
2009-06-25 07:15:09
Cloudy outlook for China-built LNG ship [Offshore]
China’s first domestically built LNG carrier, Dapeng Sun (pictured) was delivered six months late with reports of certain lingering malfunctions and now they have come home to roost. Dapeng Sun, built at Hudong-Zhonghua to much fanfare for Chin...
2009-06-25 07:08:37
Aker Solutions to team up with Sevmash [Offshore]
Representatives from the Norwegian company Aker Solutions has visited Sevmash shipyard outside Arkhangelsk, where work on the “Prirazlomnaya” platform is being intensified. The main objective of the visit was to expand cooperation between the two...
2009-06-25 07:01:39
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