Grand China planning to acquire Jinhaiwan [Shipbuilding]
Plan to purchase Zhoushan Jinhaiwan Shipyard, the largest emerging shipbuilder in China, has come up. According to local newspaper reports, it seems that Grand China Logistics, a logistics subsidiary of Hainan Airlines Group (HNA Group), has expresse...
2009-06-17 10:48:27
Crisis of Germanish [Finance]
The hardships of shipyards in Germany, the largest shipbuilding country in Europe, are being highlighted under the current global financial crisis, with four companies having already folded since 2008. Newbuilding orders involving German yards are al...
2009-06-17 10:45:57
China eying 35% share by 2011 [Shipbuilding]
State Council said in a detailed industry stimulus plan said China is seeking to expand its share of the global shipbuilding industry to more than 35% by 2011, aiming to raise production to 50 million tonnes by then. The plan includes government supp...
2009-06-17 10:42:05
Hyundai Picks Siemens PLM [Equipment]
Siemens PLM Software, a business unit of the Siemens Industry Automation Division and a leading global provider of product lifecycle management (PLM) software and services, today announced that Hyundai Heavy Industries’ shipbuilding division (HHI),...
2009-06-17 10:39:10
Stimulus encourages shipyard mergers [General]
China's government announced a two year plan to support and stimulate the nation's shipbuilders by encouraging mergers and acquisitions in the industry and making funding available for cash-strapped producers. Measures will be taken to speed the...
2009-06-17 10:36:22
Discounts, Cash Flow Hiccups Mar? [Finance]
STX Shipbuilding has been under fire for undercutting rivals with lower prices. Other Korean shipbuilders are crying foul over the latecomer's pricing tactic, arguing that it would eventually undermine their competiveness. On Monday, STX Offsho...
2009-06-17 10:33:19
Namura Shares Gain after Profit Forecast Raised [Shipbuilding]
Namura Shipbuilding Co., a Japanese builder of cargo vessels and tankers, gained the most in almost two weeks after increasing its annual profit forecast. The stock rose 5.1 percent to 596 yen as of 9:18 a.m. on the Osaka Securities Exchange, th...
2009-06-17 10:25:29
Grand China massive bulker orders worth $2bn [Shipbuilding]
Grand China Logistics’ surprise 30 bulker newbuilding order at Zhoushan Jinhaiwan Shipyard is reported to be worth as much as Yuan13.7bn ($2bn). According to local media, the order by Grand China Logistics for 18 capesize and 12 kamsarmax bulke...
2009-06-17 08:02:29
CPC plans to buy VLCC fleet [Shipping]
Taiwan’s state-owned oil firm CPC Corp is planning to acquire a substantial fleet of very large crude carriers in a bid to minimise transport costs by reducing its exposure to the charter market. Local media suggested CPC’s long-term goal is to b...
2009-06-17 07:47:41
Wadan financial situation worse than expected [Finance]
The financial health of Germany’s bankrupt Wadan Yards is worse than originally thought. A report from insolvency administrator Marc Odebrecht says the number of orders that are fully financed is far smaller than previously thought, but the amou...
2009-06-17 07:42:33
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