STX issues KRW 300bn in bonds [Finance]
South Korea’s STX Offshore & Shipbuilding said on Monday it plans to raise Won300bn ($238m) through a bond issue. In a filing to the Seoul stock exchange STX said the one-year bonds would be sold to the state-owned Korea development bank and th...
2009-05-19 07:27:18
Single-hull tankers may exit in 2010 [Shipping]
London broker Gibson said it was unlikely that large numbers of owners would opt to trade their single-hull tankers beyond 2010. Under international regulations, single-hull tankers are banned from trading after 2010, but can continue until 2015 i...
2009-05-19 07:22:43
Lindo faces gloomy prospects [Shipbuilding]
A.P. Moller-Maersk's shipsyard Lindo is affected by the crisis and has not received any orders for the past 18 months and the prospect of new orders does not look good, states Nils Smedegaard Andersen. "The situation at Lindo is, that we have not rec...
2009-05-19 07:13:14
JES Int'l has two bulkers canceled [Shipbuilding]
According to a local Chinese newspaper, the country's Jiangsu Dongfang Shipbuilding Co. (JES International) has had two of four 83,000-dwt Panamax bulkers canceled by Croatian owner Atlantska Plovidba. The canceled vessels were scheduled for deliv...
2009-05-19 07:09:13
Chinese resume shipbuilding sales drive [Shipbuilding]
It seems that following in the footsteps of their South Korean counterparts, Chinese shipyards have resumed marketing activities for newbuildings. Major yards in South Korea by this spring had reactivated sales drives for newbuildings offering sli...
2009-05-19 07:03:10
Gdynia & Szczecin to be sold: UIT [Finance]
The Polish government is awaiting the signature of a Caribbean registered company which has agreed to buy the assets of both Gdynia and Szczecin shipyards for about Zloty450m ($136m). United International Trust was the highest bidder from a group...
2009-05-19 06:55:59
Majors post improved results from Q2 [Finance]
South Korean major shipbuilders posted greatly increased revenues for the first quarter 2009 but their operating profits tumbled. Sales rose due to increased output and high won-dollar exchange rates but profitability slumped as shipbuilding costs...
2009-05-19 06:21:40
Massive boxships could be absorbed by ambitious liners [General]
The fate of around 120 containerships are threatened if Compania Sud Americana de Vapores (CSAV) goes belly up. Yet many believe the vessels would find a home even if the Chilean liner company were to go to the wall. They suggest that the doomsday...
2009-05-18 15:57:47
First priority is government policy at CSDC [Shipping]
A manager at a state-owned Chinese company says government-backed companies have little room to manoeuvre in a market of falling rates and cancelled newbuildings. Gong Xin, vetting co-ordination manager at China Shipping Development Co (CSDC), sa...
2009-05-18 15:50:55
Shtokman LNG-newbuilding tender faces delay [Offshore]
The tender for vessels to support a Gazprom project has been put back to the autumn. Russian LNG-newbuilding business for Gazprom's Shtokman LNG project looks set to be delayed until later this year. Yards and shipowners had been expecting to rece...
2009-05-18 15:47:39
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