Japan challenges shipbuilding support at OECD [Shipbuilding]
The Japanese government is looking to resurrect international shipbuilding competition talks amid growing concern over the level of financial support being offered to their Chinese and South Korean rivals. A senior official within Japan’s Ministry ...
2009-05-21 07:04:14
Shipbuilding stalwarts faltering [Finance]
South Korea’s major shipbuilders posted markedly decreased operating profits for the first quarter 2009 following the poor performance of the big three in the same period. The main cause of the deteriorated performance was the high-priced steel ...
2009-05-21 06:30:19
Samsung-Cielo LOI: Wind power generators [General]
Samsung Heavy Industries of South Korea on May 21st signs a Letter of Intent (LOI) with an energy firm Cielo of the US for the installation of three 2.5MW wind power generators in Texas by 2011. Samsung Heavy had developed 2.5MW wind power electri...
2009-05-20 16:10:20
Dongkuk cuts steel plate price [Equipment]
South Korea's third-largest steelmaker Dongkuk Steel Mill said on Wednesday it had cut prices of steel used for ship plates by 11 percent, its third reduction this year, to match a move by bigger rival POSCO. Dongkuk said it had decided to cut prices...
2009-05-20 14:50:50
Samsung Techwin into LNG-FPSO equipment market [Offshore]
Samsung Techwin of South Korea makes inroads into offshore energy equipment market. According to Hanwha Securites analyst Oh Se-jun, Samsung Techwin is now seeking cooperation with Samsung Heavy Industries, Daewoo Shipbuilding & Marine Engineering...
2009-05-20 14:28:06
Restructuring stars Gdansk [General]
Polish prime minister Donald Tusk has said European Union approval for Gdansk Shipyard’s restructuring plans is close to being achieved. Approval that would save thousands of jobs at the birthplace of the Solidarity movement could be won “with...
2009-05-20 08:03:15
US shipyard Conrad net profit grows [Finance]
Conrad Industries has reported a boost in first-quarter profits and revealed $24m in barge orders. The US shipyard said it earned $5.7m in the quarter, a 26.7% increase on the $4.5m in the same period of last year. The profits amount to $0.88 in d...
2009-05-20 08:00:18
Building permits down 67% : 37 ships [Shipbuilding]
Japanese shipyards were issued building permits for 37 ships totaling 1,506,205 grt in April 2009, according to statistics compiled by the Maritime Bureau of the Ministry of Land, Infrastructure, Transport & Tourism (MLIT). In March 2009, such permit...
2009-05-20 07:52:28
HSH Nordbank posts $255m losses for Q1 [Finance]
The world’s biggest shipping bank HSH Nordbank saw a loss of €188m ($255m) before tax in the first quarter of 2009 compared with a loss of €91m in the same period of 2008. Despite the widening gap the bank was satisfied with the result. HSH exp...
2009-05-20 07:48:00
Engine makers focus on after-sales [Equipment]
MAN Diesel and Wärtsilä are both looking to strengthen their after-sales service activities as the ship engine manufacturers struggle to make efficiencies in a “substantially weakened” global maritime market. Both companies have announc...
2009-05-20 07:45:05
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