Hitachi Zosen raises earnings forecast [Finance]
Japanese shipyard and construction group Hitachi Zosen has raised its annual profit forecast but remains on course for a big drop year-on-year. The co-owner of Universal Shipbuilding Corp said net earnings should be JPY 1.4bn ($14.32m) for the 12 ...
2009-05-01 07:41:37
Exmar takes a hit from LPG market weakness [Offshore]
Exmar reported lower operating results Thursday as it took a hit from weakness in the LPG carrier market. The Belgian gasship owner posted $9.2m, or $0.28 per share, in first-quarter earnings before interest and taxes (Ebit), a 33.8% drop from $13...
2009-05-01 07:38:36
Naikai's two-yard system on track [Shipbuilding]
The two-yard, three-slipway system of Naikai Zosen Corp. has started to get on track. In 2008, Naikai resumed operations at No.2 slipway of its Innoshima Shipyard positioned at its main factory. The first ship at the resumed slipway, a 2,500-TEU cont...
2009-05-01 07:34:06
Zeebrugge in a regasification move [Offshore]
Zeebrugge could become the first liquefied natural gas terminal in the world capable of accepting both conventional tonnage and the more novel regasification vessels following an agreement between gas shipping specialist Exmar and terminal operator F...
2009-05-01 07:27:34
Global steel industry ‘turns the corner’ [Equipment]
The depressed global steel industry is “slowly beginning to turn the corner”, said steel billionaire Lakshmi Mittal. Despite a “very tough” climate and “exceptionally difficult” first quarter, Chinese-led growth in steel production mea...
2009-05-01 07:23:52
Bangladeshi lawyer fights toxic shipbreaking [General]
Many of the world's largest ocean vessels reach their final destination on the beaches of Bangladesh. The coast of Chittagong, the country's main seaport, is littered with scrap metal, stained with toxic oil, and burning from the fumes of the ship-br...
2009-05-01 07:20:34
HHI Q1 net profit rises 13% [Finance]
Hyundai Heavy Industries, the world's largest shipbuilder, announced a 13% increase in net profit for the first quarter. The company unveiled a net profit of Won483bn ($382.9m) as the construction of high-priced ships near the top of the market b...
2009-05-01 07:12:33
More than 80m GT with class GL [General]
With the classification of the gas tanker "MT Gaschem Nordsee", Germanischer Lloyd (GL) has passed the 80 million gross tons threshold. More than 6,870 ships are currently surveyed on a regular basis by Germanischer Lloyd. As a result, the fleet i...
2009-05-01 07:09:49
CSAV rescue hangs on cancellation of orders [Shipping]
The survival of embattled Chilean shipping group CSAV could rest with South Korean shipbuilder Samsung Heavy Industries after German owners attending crisis talks in Hamburg last month attached conditions to a rescue plan. International efforts to sa...
2009-05-01 06:59:18
Korea expands liquidity injection [Finance]
Along with additional restructuring of nonviable shipyards, South Korean government will provide liquidity of KRW 9.5trn ($7.364bn) to blue-chip shipbuilders and their collaborative enterprises. On April 30th, the government confirmed the plan of inc...
2009-05-01 06:21:00
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