Naikai Zosen rises [Finance]
Japanese yard group Naikai Zosen substantially increased profit last year but is staring at a shrinking bottom line in the current year. The shipbuilder expects to vastly increased revenues this year but both operating and net profit figures are f...
2009-05-14 07:47:00
Goldenport sells two boxships for scrap [General]
Two more elderly ships look to heading out the door at Greek owner Goldenport Holdings. The London-listed owner has shifted charter contracts from the containerships set for the chop to newer ships in advance of the clear out. The 2,258-teu MSC So...
2009-05-14 07:43:44
35 investors vie for Polish yards [Finance]
A total of 35 potential investors will bid next week for the assets of Polish shipyards Gdynia and Szczecin. Poland’s agency of industry development (ARP) said the Gdynia sale will take place on 13-14 May, while Szczecin will be sold on 15-16 Ma...
2009-05-14 07:40:27
BG inks LNG supply deal with CNOOC [Offshore]
UK integrated gas major BG Group has secured a “milestone” long-term contract from China to supply liquefied natural gas from its planned Queensland Curtis LNG project in Australia, a deal which also involves the construction of two vessels. BG h...
2009-05-14 07:36:21
Buoyant Asry ready for expansion [General]
Shiprepair and maintenance in Bahrain is dominated by the Arab Shipbuilding and Repair Yard Co, although there is a much smaller facility, Basrec, in the now closed commercial port of Mina Salman, which specialises in tugs, workboats and other smalle...
2009-05-14 07:32:27
Capesize rates to hit $35,000 [Shipping]
Firming steel prices in China will have a beneficial effect on dry bulk freight rates in the near term with capesize ships projected to earn $35,000 a day, Dahlman Rose equity analyst Omar Nokta said. This would represent a 25% improvement from t...
2009-05-14 07:26:15
Courage for younger fleet despite Q1 loss [Shipping]
Dry bulk shipowner Courage Marine sank into the red in the first quarter of the year, but remains on the lookout for replacement tonnage. Singapore-listed Courage reported a first quarter loss of $600,000, compared to a profit of $12.6m in the sa...
2009-05-14 07:23:15
SBM Offshore mulling lay-ups [Offshore]
Dutch offshore shipping group SBM Offshore plans to lay up four tankers and a redundant oil production vessel to cut costs as it has not secured new contracts for the ships. SBM said operations from its tanker fleet were at a loss of $10m in the ...
2009-05-14 07:19:24
Qatar investor eyes Gdynia shipyard [Finance]
A Qatar investor wants to buy the historic Gdynia shipyard in Poland, whose strikes in the 1970s helped bring down communism in the country, it was reported on Tuesday. The investor, the Polska newspaper claimed, is thought to be Qatar Investment...
2009-05-14 07:16:53
Japanese insist on steel price cut [Equipment]
Japanese steelmakers hiked the price of steel materials bound for domestic shipyards by about Y30,000 ($311)/ton beginning with shipments delivered in April 2008. As a result, the standard prices, excluding the extra price, have risen to an all-t...
2009-05-14 07:08:55
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