Century Shipyard plans second facility [Shipbuilding]
A small Indian shipyard is aiming to expand. Sources say Century Shipyard plans to build a second shipbuilding facility in Kerala on the south-west coast of India, at an investment of between $70m and $75m. The greenfield yard will construct offsh...
2009-05-01 14:50:56
Cosco cancels bulker orders [Shipbuilding]
China Cosco Holdings is said to have cut five of its supramaxes on order at a subsidiary yard. Shipping giant China Cosco Holdings is said to have slashed a number of supramax-bulker newbuildings on order at a domestic yard. Market sources say the...
2009-05-01 14:46:56
NSC in talks to delay newbuilding quartet [Shipbuilding]
German owner NSC Schiffahrtsgesellschaft is in talks to decide the fate of four 12,000-teu newbuildings. Managing director Roberto Echevarria confirms discussions are under way with South Korea's Hanjin Heavy Industries to restructure the deal. So...
2009-05-01 14:43:09
ABS reports strong 2008, prepares for more challenging times [General]
Speaking at the Annual Members Meeting of the classification society in New York, ABS Chairman and Chief Executive Officer, Robert D. Somerville called 2008 a “successful, challenging and extraordinary” year. Success stemmed from a record classed...
2009-05-01 11:14:05
CSAV may sell off Norasia [Shipping]
Speculation is mounting that Chilean carrier CSAV may sell off its CSAV Norasia shipping line and other assets to help reduce costs and debts. Sources in both Valparaiso, the HQ for CSAV, and in Sao Paulo, Brazil, have confirmed that assets are u...
2009-05-01 11:08:42
Massive shipbuilding capacity to cause prolonged slump [General]
It’s not the owners’ fault, it’s the yards who are to blame for the likely prolonged downturn in shipping, said Arthur Bowring (pictured), MD of the Hong Kong Shipowners Association. Speaking at the final session of TradeWinds’ Shipping Ch...
2009-05-01 11:04:02
No BDI rebound until 2011 [Shipping]
The Baltic Dry Index (BDI), a measure of world trade that collapsed a record 92% last year, won’t rebound until 2011, Nomura Holdings Inc. said. “We maintain our bearish view due to the large supply of new ships coupled with slow bulk demand,” ...
2009-05-01 10:57:23
Exousia delivers coatings to Bohai Shipbuilding [Equipment]
Exousia Advanced Materials, Inc., a company that manufactures advanced industrial products for worldwide infrastructure applications and engineered composites for eco-friendly wood substitutes, has begun shipping its zinc-rich epoxy primers to Bohai ...
2009-05-01 07:52:46
Bharati expects subsidy of $22m in FY10 [Finance]
Bharati Shipyard has announced its fourth quarter numbers. Its net profit went up at Rs 35.4 crore (US$ 7.09 million) versus Rs 32.6 crore (US$ 6.52 million), YoY. The company's net sales came in at Rs 284 crore (US$ 56.89 million). Commenting on ...
2009-05-01 07:49:10
Colonna's Shipyard wins $72m repair deal [General]
Colonna's Shipyard in Virginia has won a five-year deal to repair the entire Staten Island Ferry fleet. The shipyard will pocket $71.5m over the term of the deal. One vessel is already in dry dock, for work that includes repairs on its cycloida...
2009-05-01 07:45:07
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