Wadan Yards Okean losses widen [Finance]
Wadan Yards Okean in Ukraine has posted a bigger loss for 2008 as its revenues fell away. The Mykolaiv shipyard, formerly owned by Aker Yards but taken over by Russia’s FLC West in 2008, said it lost UAH 131.34m ($16.48m) last year. It ended 200...
2009-04-30 15:05:21
Bharati Shipyard profits rise [Finance]
India’s Bharati Shipyard is still increasing profit as its orderbook grew in the year to 31 March. The Mumbai yard said net earnings reached INR 1.3bn ($25.9m), compared to INR 1.07bn in the same 12 months a year before. Revenues jumped to INR 9...
2009-04-30 14:59:49
Newbuilding orders kept subdued [Shipbuilding]
The third month of the year proved no exception to the previous ones, since from November onwards, newbuilding orders on a worldwide basis remain under the 1 million-dwt monthly mark. As shipowners are scaling back investments, shipyards are boun...
2009-04-30 11:52:44
Jurong Shipyard terminates rig deal [Offshore]
Sembcorp Marine's wholly-owned subsidiary, Jurong Shipyard Pte Ltd (JSPL), has completed the construction of the semi-submersible rig, Petrorig I. Petrorig I was ready for delivery to Petrorig I Pte Ltd, a wholly-owned subsidiary of PetroMENA ASA...
2009-04-30 11:44:15
KOCES conducts NACE CIP [Equipment]
Korea Coating Experts Society (KOCES) conducted Coating Inspector Program (CIP) of the National Association of Corrosion Engineers (NACE) of the US, in South Korea from April 20th to April 25th. KOCES and NACE have signed education course co-opera...
2009-04-30 11:32:39
Skeie jack-up rigs delayed [Offshore]
Skeie Drilling & Production (SKDP) has delayed the delivery of three jack-up rigs due to a downturn in the offshore market. The Norwegian company says the rigs will be delayed by four to six months under a deal agreed with builders KeppelFELS. “...
2009-04-30 07:51:40
More than half cancellations in China [Shipbuilding]
55.65% of the 7.862m cgt terminations seen globally have happened in China thus far. The current global orderbook stands at just shy of 158m cgt. These statistics were provided by Matthew Flynn, MD of shipbuilding database Worldyards, while speaki...
2009-04-30 07:48:09
LNG fleet overcapacity to bottom out this year [Offshore]
The oversupply of LNG vessels is set to bottom out this year and reduce significantly by 2012 as delayed liquefaction projects come onstream. The utilisation of the global LNG carrier fleet has dropped to between 60% and 65% as increasing numbers...
2009-04-30 07:43:05
Fincantieri woe: Cruise and ferry sectors tumble [Shipbuilding]
The cruise lines of the world are beginning to worry about the implications of worldwide recession on demand and the bulging and very expensive orderbook for new vessels. The major ferry companies are also concerned, particularly those heavily inv...
2009-04-30 07:40:19
HMD issues satisfactory Q1 results [Finance]
South Korea’s Hyundai Mipo Dockyard has issued first-quarter results in line with market forecasts. HMD’s net profit fell 4.7% year-on-year to Won124bn ($92.5m). The shipyard’s operating profit fell more steeply to Won92bn, down 31.9% f...
2009-04-30 07:34:41
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