Yemen LNG to start shipments this summer [Offshore]
Yemen LNG expects to make the first shipment from its new gas liquefaction plant in July or August, the company's chief executive told Reuters on Thursday. Joel Fort, CEO and general manager, said the project will come on line four months late for...
2009-05-11 07:55:36
Wuchang wins offshore order [Offshore]
LR-Fairplay's Daily Newbuilding News reports that Wuchang Shipbuilding in China has won an order for two offshore supply vessels from China Oilfield Services. Wuchang has built ships in the past for this owner, having most recently delivered four ...
2009-05-11 07:52:06
Mitsui profits fall [Finance]
Profit at Mitsui Engineering & Shipbuilding slumped by nearly a tenth in the past year. Its bottom line came in at JPY 7.13bn ($78.47m) as it failed to meet market expectations. The final figure was ahead of the JPY 7bn forecast by the company, bu...
2009-05-11 07:50:07
IHI into the red [Finance]
Japanese shipbuilder IHI Corp has posted a hefty loss in the year to 31 March, but nowhere near as big as it first feared. The company said the deficit was JPY 7.4bn ($74.46m), compared to a profit of JPY 25.19bn in the previous year. Revenues wer...
2009-05-11 07:46:42
COSCO cancels five handymax orders [Shipbuilding]
China's COSCO Shipyard Group has had orders for at least five 57,000-dwt Handymax bulker newbuildings cancelled by group operator COSCO, according to a foreign newspaper report. The ships were due for delivery in 2010-2011. Ship prices and cancel...
2009-05-11 07:44:22
SembCorp Marine bullish as profits rise 32% [Finance]
Singapore shipyard group SembCorp Marine remains confident about its business outlook despite the possibilities of delays and cancellations after it reported a 32% rise in net profits in the first quarter. SembCorp Marine reported that net profit ros...
2009-05-11 07:41:06
Scrap prices could fall to $100 per ldt [General]
Prices for ships sold for recycling could fall as low as $100 per ldt in the coming months, as demand for ship demolition continues to grow. Demand is increasing at a time when shipbreaking facilities are full to capacity and could increase if mo...
2009-05-11 07:37:25
Napa Group sets up a company in Korea [Equipment]
Napa Group, a Finnish software company that develops innovative computer systems for ship design and operations, has established a subsidiary company, Napa Korea Ltd, in Busan, Korea. The purpose is to strengthen Napa’s local services to the Korean...
2009-05-11 07:25:16
Shipyards liquidity position worsening [Shipbuilding]
Shipbuilders may not be bending on price but moves out of South Korea show that funds may be drying up. An unprecedented backlog of orders has given shipyards the confidence to sit out the downturn in the newbuilding market and resist pressures fr...
2009-05-11 07:19:59
Delphis hopes to fix 2,500-teu newbuilding series [Shipping]
Containership owner and operator Delphis believes it can avoid laying up a series of 2,500-teu boxships under construction at Germany's Volkswerft Stralsund yard. The Antwerp-based company hopes to charter out the ships but is also considering usi...
2009-05-11 07:15:20
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