Brazilian orders ship designs from Rolls-Royce [Offshore]
Brazilian shipowner Companhia Brasileira de Offshore has ordered two offshore support vessel designs and equipment from Rolls-Royce. The move comes at a time when shipowners generally have cut back on newbuildings. UK-based Rolls-Royce said the t...
2009-05-12 07:11:02
Chinese to suffer further [Shipbuilding]
China’s shipbuilders are bracing themselves for more newbuilding cancellations with more private yards expected to go to the wall. Bao Zhangjin, a senior analyst at China State Shipbuilding Corp’s economic research center, said that the pictu...
2009-05-12 07:04:56
Shipping needs more help [Finance]
South Korea has come up with support plans for its shipbuilding and shipping industries lately but shipping players are requesting more financial aid. They say shipping industry, the front-line industry, should get financial aid first for shipbuil...
2009-05-12 06:25:49
Samsung Q1 operating profit down 30% [Finance]
Samsung Heavy Industries posted operating profit of KRW 155.6bn ($125.5m) for the first quarter 2009, less than market consensus. On May 11th, the South Korean major shipbuilder announced its Q1 business results with revenue of KRW 2.7761trn ($2.2...
2009-05-11 17:19:06
Daehan delivers 5th cape ‘Golden Shui’ [Shipbuilding]
Daehan Shipbuilding of South Korea delivers its fifth ship ‘Golden Shui’ to shipowner today (on May 11th). The ship is the fourth of the eight 170,500-dwt bulker series ordered by Norway’s Golden Ocean Group. It has a length of 289m, brea...
2009-05-11 13:28:39
No limit for ship fund [Finance]
In South Korea, investment limit is set to be abolished for ship operating companies which utilize ship funds. Ministry of Land, Transport and Maritime Affairs (MLTM) said Monday that it will give notice of a revision in some of the ship investmen...
2009-05-11 12:03:22
For safer and cleaner shipbreaking [General]
When it comes to jobs that workers in rich Western countries don't want, there are few more dirty and dangerous than scrapping the world's freighters, luxury liners and oil tankers. Explosions and fires kill scores of poorly equipped workers each ...
2009-05-11 11:38:16
Gadani’s shipbreaking boom returns [General]
Shipbreaking industry is flourishing once again in Pakistan as 65 more abandoned ships arrived at the Gadani’s shipbreaking yard from various countries for scrapping. ‘More ships are expected to reach Gadani,’ official sources said, adding ...
2009-05-11 11:32:56
Investment funds turn to Hellenic shipping [Shipping]
Lured by the huge drop of ship values, together with a better freight rate environment, investment schemes around the world are converging into Piraeus lately, seeking to reach lucrative deals with distressed ship owners or even acquire shipping loan...
2009-05-11 11:27:15
Petronet signs Gorgon deal with ExxonMobil [Offshore]
India’s Petronet LNG has become the latest customer for liquefied natural gas from the proposed Gorgon project in Australia. Petronet has agreed to purchase 1.5m tonnes a year from ExxonMobil under a 20-year pact, which the parties said had “t...
2009-05-11 11:21:48
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