Wartsila and 3. Maj renew licence agreement [Equipment]
Wärtsilä Corporation and 3. Maj Shipbuilding Industry Ltd of Croatia have signed a ten-year renewal of the existing licence agreement for the marketing, sale, manufacturing and servicing of Wärtsilä low-speed marine diesel engines...
2009-05-07 07:25:33
Davie Yards sells $14.4m shares [Finance]
Davie Yards in Canada has sold the first tranche of its $20m share offering as it continues to secure cash for its future. The sale means Export Development Canada (EDC) can release the first advance of its $200m loan to Norway’s Cecon, which is...
2009-05-07 07:22:24
STX Europe Q1: No Good [Finance]
STX Europe branded its first quarter performance unsatisfactory as its losses widened. Staff redundancy costs and loss making projects at its Cruise & Ferry division coupled with unrealised currency losses did the majority of the damage. It posted...
2009-05-07 07:18:36
GulfMark sues Bender Shipbuilding [General]
GulfMark Offshore filed a lawsuit against Bender Shipbuilding & Repair Wednesday, the same day the Overseas Shipbuilding Group (OSG) released new details about its cancellations at the yard. GulfMark, a Houston offshore vessel owner, is asking a U...
2009-05-07 07:15:13
Iron ore imports hits new record [Equipment]
Iron ore imports hit another new record level in April, but an analyst says it could be a negative sign for dry-bulk shipping. Wachovia analyst Justin Yagerman said Wednesday that imports of the metal, a key driver for the bulker trade, grew to 53...
2009-05-07 07:11:23
China demands 40% cut in iron ore prices [Equipment]
China's steelmakers are facing low demand and potentially disastrous oversupply, supporting their insistence on a 40 percent cut in benchmark iron ore prices, an industry group executive said Tuesday. Shan Shanghua, secretary general of the China ...
2009-05-07 07:03:33
Abu Dhabi charters VLCCs for floating storage [General]
State-owned Abu Dhabi National Tanker Company, or ADNATCO, is making preliminary inquiries to charter VLCCs to store crude, industry sources said on Tuesday. The shipping firm is making the inquiries on behalf of parent company and state oil firm ...
2009-05-07 07:00:09
Cargotec signs equipment supply contract [Equipment]
Cargotec has received over EUR 10 million order for the supply of MacGREGOR cargo-handling cranes and lift-away hatch covers for a series of six 3,100 TEU containerships under construction at Chinese shipyard Rongcheng Shenfei Shipbuilding Co ltd. De...
2009-05-07 06:57:05
BDI rises again [Shipping]
Volatility is the key word for the trials and tribulations of the Baltic Dry Index and consequently all ship owners involved in the dry bulk trade. The BDI, a gauge that reflects the cost to haul iron ore, coal, grains and other raw materials via ...
2009-05-07 06:53:14
Ukraine resumes support for shipbuilding [Shipbuilding]
The Cabinet of Ministers has approved a targeted national program for development of the Ukrainian shipbuilding industry in the period of 2009-2035. Industrial Policy Minister Volodymyr Novytskyi announced this to journalists. According to Novytsk...
2009-05-07 06:50:29
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