ABS’ guide on the use of higher-strength steel plates [Equipment]
ABS has issued a new guide intended to provide supplementary requirements for the application of higher-strength, thick steel plates, greater than 51 mm, within the structure of large container carriers. The requirements in the Guide for Application ...
2009-05-19 11:19:54
Shipbuilding boosts Bangladesh [Shipbuilding]
Industry Minister Dilip Barua Saturday said growing shipbuilding sector would help turn Bangladesh into a middle-income country through earning more foreign exchanges for the country. He made this remark during his visit to Western Marine Shipyard Lt...
2009-05-19 11:14:55
JES International suffers a blow [Shipbuilding]
Chinese shipbuilder JES International Holdings has slumped to a CNY52.6m ($7.7m) on the back of foreign exchange losses. The losses were related to payments received for vessels that began construction in 2007 and were largely completed in the fir...
2009-05-19 08:02:36
Davie net deficit falls [Finance]
Canadian shipbuilder Davie Yards has managed to cut first quarter losses despite shutting down the yard for more than a month. The Quebec facility laid off all 1,000 workers before Christmas to save money, gradually resuming operations from 22 Feb...
2009-05-19 07:58:23
Shipbreaking yards busier [General]
Scrapping sales activity has picked up as Pakistan leads the way in pushing up prices. US cash buyer GMS said all four major markets picked up deals last week, with Pakistan showing a rise in prices in a pre-budget purchasing frenzy. Buyers took t...
2009-05-19 07:54:52
ONGC cancels deal to hire rig newbuild [Offshore]
India's Oil & Natural Gas Corporation has axed a deal to hire a rig from compatriot Great Offshore due to delays to the newbuilding. Bombay-listed Great says the state oil company has invoked a performance guarantee of $3.8m after cancelling the c...
2009-05-19 07:51:51
Sembcorp sued on order cancellation [Offshore]
Singapore's Sembcorp Marine has been sued by a Norwegian offshore owner after it cancelled a $460m rig order. Bankrupt PetroRig 1, part of PetroMena, says the shipyard made improper attempts to terminate the contract, according to court filings. I...
2009-05-19 07:48:14
STX Europe appoints new CEO [General]
Torstein Dale Sjotveit has quit at CEO of shipbuilder STX Europe. Sjotveit, who took over the reins prior to STX’s takeover of Aker Yards last year, will be replaced by Sang-Ho Shin. Sjotveit did not offer any explanation for leaving, saying ...
2009-05-19 07:45:40
Western India Shipyard cuts losses [Finance]
Shiprepairer Western India Shipyard (WIS) has managed to reduce annual losses, but is still struggling with higher raw materials costs. The country’s biggest repair yard said net losses to 31 March were INR 214.4m ($4.47m), down from INR 287.2m ...
2009-05-19 07:36:34
C& Heavy acquisition under review [Finance]
It has emerged that South Korea's KTB Securities Co., a major provider of financial services such as equity investments and purchase of bonds, is contemplating acquiring the embattled C& Heavy Industries (C&HI). South Korea's C&HI has been desper...
2009-05-19 07:34:09
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