Sekwang denies bankruptcy rumor [Finance]
Sekwang Heavy Industries of South Korea has denied market speculations that it has filed for bankruptcy. An official from Sekwang said rumors that the yard had filed for bankruptcy were not correct. However, he did admit the company was facing fi...
2009-06-24 08:17:22
Sobrena-Harris Pye set up shiprepair JV [General]
France’s Sobrena Shiprepair has signed an agreement with UK marine specialist Harris Pye Group to focus on repairing cruise and offshore vessels. The two companies teamed up to cover the refurbishment, repair, upgrade, conversion and life extens...
2009-06-24 08:02:40
China orders plunge 96% [Shipbuilding]
New orders for Chinese shipyards dropped 96 percent in the first five months, the Ministry of Industry and Information Technology said. The value of total industrial output by domestic shipyards reached 203.3 billion yuan (US$30.0 billion) in the fir...
2009-06-24 07:50:53
Grandweld wins new shipbuilding contracts [Shipbuilding]
Grandweld recently held keel laying ceremonies for two 36m Utility Vessels and one 41m Crewboat for repeat customer Humaid Badir Marine Shipping Est, a UAE based fleet operator. The three vessel order is said to signal a strong 2009/10 order book ...
2009-06-24 07:35:51
SCI delays fleet expansion [Shipping]
Shipping Corporation of India has deferred plans to buy eight vessels - including four very large crude carriers (VLCC) - in this financial year as it waits for freight demand to pick up and ship prices to decline further. "Looking at the current ...
2009-06-24 07:30:28
NB cancellations exceed 1,000 mark [Shipbuilding]
Shipbuilding cancellations in November last year reached 154 and similarly dismayed shippers and shipbuilders, but the worst is yet to come. “As of April, there are already some 1,000 cancelled newbuildings from all around the world and the numb...
2009-06-24 07:25:10
Navios cape NB resale deal at Sungdong [Shipping]
Navios Maritime Holdings is to acquire four capesize newbuilding resales for $324.5m. The Angeliki Frangou-led company said three of the ships would be purchased by companies controlled by Commerzbank. The other vessel is understood to have been l...
2009-06-24 07:12:51
China ship industry growth slows [Shipbuilding]
In the first five months of this year, China's enterprises above a certain scale (enterprises with minimum annual sales of 5 million yuan) in the ship industry realized a total export delivery value of 96.8 billion yuan ($14.1bn), an increase of 25.8...
2009-06-24 06:55:43
No new orders in May [Shipbuilding]
In May, there was no single newbuilding contract reported. And now the total number of contracts reported so far this year is 68, equating to just 0.8m cgt and 1.5m dwt. According to the data released by Clarkson Research Services (CRS) this month, g...
2009-06-24 06:41:34
Global crude steel output dips 22.7% [Equipment]
According to the latest statistics of International Iron and Steel Institute (IISI), the output of global crude steel has fallen drastically in the first four months of this year compared to last year due to the impact of financial crisis and global ...
2009-06-23 16:13:01
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