Japan's steel exports to Asia down 11% [Equipment]
Japan's exports of steel products bound for Asia in fiscal 2008 were down 11% from fiscal 2007 at 28,258,000 tons, according to statistics compiled/released by the Japan Iron & Steel Federation (JISF). Export volume bound for Asia was firm up unt...
2009-05-13 07:55:00
High bunker price leads to more scrapping [Offshore]
A $40 jump in bunker prices pushed very large gas carrier earnings close to zero, driving owners to scrap more of their older tonnage. Bunker prices have risen 13% since the start of May to more than $340 per tonne, but VLGC rates have held at jus...
2009-05-13 07:52:40
Wartsila sulphur scrubbing unit coming soon [Equipment]
Finnish marine technology group Wärtsilä could have its own sulphur-scrubbing technology on the market as early as 2010 as oil majors face an uphill struggle to meet potential low-sulphur fuel volumes. The Helsinki-listed group has been ...
2009-05-13 07:46:07
‘No extension’ of single-hull phase out [General]
Rina chief executive Ugo Salerno expressed fears over reports that a number of the largest open registries are pressing for a five-year extension of the deadline for phasing out single-hull tankers. Speaking at the Mare Forum shipping conference in S...
2009-05-13 07:41:57
Some box lines would not survive recession [Shipping]
Container shipping faces a long recession that will force some lines out of business, AP Moller-Maersk chief executive Nils Andersen predicted. But he cast doubt on whether urgently-needed consolidation could be achieved, given the character of t...
2009-05-13 07:34:36
EC approved Fincantieri-ABB JV [General]
Italian shipbuilder Fincantieri has received approval from Brussels for its proposed joint venture with Swiss engineering group ABB in marine automation systems. The European Commission said that the link-up would raise no competition issues, not...
2009-05-13 07:29:45
Profits plummet at Maersk and NOL [Finance]
Huge losses were reported by two of the world’s top container lines yesterday following the catastrophic collapse of freight rates in the early weeks of the year. Danish shipping and energy group AP Moller-Maersk posted its worst ever quarter, ...
2009-05-13 07:25:45
Order ships at Russian - Vladimir Putin [Shipbuilding]
It is unacceptable to place orders at foreign shipyards if similar ships can be built in Russia, press center of RF Government cites RF Prime Minister Vladimir Putin as saying at the meeting dedicated to the problems of Russia's shipbuilding industry...
2009-05-13 07:19:05
Daewoo profits fall [Finance]
Daewoo Shipbuilding and Marine Engineering, the world’s third largest shipbuilder, released worse than expected first quarter results Tuesday. DSME said net profit increased 23% year-on-year to Won96bn ($77.2m) in the first quarter but operatin...
2009-05-13 07:09:29
China Shipping eyeing newbuilding [Shipbuilding]
China Shipping, the nation's second-biggest sea cargo company, plans to order dry bulk ships this year as prices fall on overcapacity concerns and the global recession. "We'll never give up on new investments," vice-chairman Zhang Guofa said in an Ap...
2009-05-13 07:05:15
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