Ship demolition sales slow [General]
Demolition sales remained minimal last week as owners were still unwilling to accept a fall in prices. Buyers were sitting tight or offering well below market levels, even though scrap prices appeared to be stabilising, US cash buyer GMS said. ...
2009-05-06 07:14:08
Cosco wins FPSO conversion deal [Offshore]
Cosco Corp (Singapore) has scooped a deal to convert a VLCC into a floating production, storage and offloading (FPSO) unit for a Japanese company. Its Dalian yard will complete the work on the 259,530-dwt Sunrise IV (built 1991) for Mitsui Ocean D...
2009-05-06 07:10:02
35 bidders for Polish yards [General]
Thirty-five investors have registered to bid for the assets of two Polish Baltic shipyards being liquidated under European Union anti-state aid laws, officials said on Friday. "By the Thursday midnight deadline, 35 investors have expressed the des...
2009-05-06 07:01:29
Half of OSV newbuildings to fail [Offshore]
Half of the offshore support vessel newbuildings slated for delivery in 2009 will fail to hit the water this year, ODS Petrodata says. A maximum 200 of the planned 393 anchor handlers and PSVs will make it into the market in 2009, director David B...
2009-05-06 06:54:40
Stocks rise: Government stimulus plans [Finance]
In South Korea, shipbuilding stocks are showing an upward tendency after the government made public the restructuring and support scheme for the industry. On May 4th, shipbuilding stocks rose sharply on expectations that the downturn-hit industry ...
2009-05-06 06:28:09
Dispute worried [General]
It is worried that South Korean government’s restructuring and support plan for the country’s shipbuilding and shipping industries might cause WTO trade friction. The government has recently decided to provide shipbuilding financing of KRW 9.5...
2009-05-06 06:22:13
Credit crunch kills contract for innovative MPV [Offshore]
Keppel Singmarine Pte Ltd. , a wholly owned subsidiary of Keppel Offshore & Marine has received a notice from Romania's GSP Titan Ltd. to terminate the contract for a DP3 multi-purpose vessel, effective May 1. Designed by Ulstein Sea of Solutions...
2009-05-05 16:51:03
Fledgling Turkish yard delivers mega-yacht [Shipbuilding]
Turkey's Yay Shipyard has delivered its first project, a 65-metre megayacht built in the Kocaeli Free Zone in Izmit. The yacht, reportedly costing EUR 40m ($52.6m), is called Nourah of Riyadh (Riyadh's Splendour) and was built for Prince Mohammed ...
2009-05-04 14:59:28
Italian interests buy chemical-tanker newbuilding [General]
The 40,000-dwt chemical-tanker newbuilding Freja Regulus (built 2009) is reported to have been sold to Italian buyers Millenia/Morfini at a price of between $34m and $37m. The ship is slated for delivery shortly from SLS Shipbuilding in Tongyoung....
2009-05-04 14:56:55
Catic acquires a 68% stake in Taixang yard [General]
A trading house that became a majority shareholder in a Jiangsu shipyard last year has surprised the Chinese shipping world again with a major stake in a neighbouring yard. The Bejing arm of Catic took a 45% stake in Taizhou Catic Heavy Industries Lt...
2009-05-04 14:49:27
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