Rongsheng reconsiders IPO [Finance]
Chinese shipbuilder Jiangsu Rongsheng Heavy Industries has reaffirmed plans for a stock market listing after delaying an initial public offering last year. The yard, based in Nantong, Jiangsu province, also confirmed it still has a $1.6bn order f...
2009-04-30 07:29:55
BW Maritime boss detects positive signs [Shipping]
BW Maritime managing director Andreas Sohmen-Pao expects the tanker market to remain weak this year but sees some positive signs emerging. “Generally I see a weak of market with some potential for improvement, but with it being unlikely we’ll...
2009-04-30 07:27:04
STX Pan Ocean issues $159m bond [Finance]
South Korea’s leading bulk operator STX Pan Ocean said yesterday it will issue Won200bn ($149.2m) in corporate bonds on May 8. In a statement to the Seoul Stock Exchange, the company said the proceeds will be utilised to secure cash liquidity d...
2009-04-30 07:21:55
Signs of boxship recovery [Shipping]
Piraeus-based containership owner Danaos Corp has said it believes the worst of the container shipping crisis may have passed, although it admitted its perception of a possible nascent recovery “remains to be tested” and might not be evident in n...
2009-04-30 07:18:49
Sakhalin owner gives up contract with Chinese yard [General]
Sakhalin Sea Shipping Company OJSC gave up the idea to build two container vessels at a shipyard in China. Such decision was taken by the company’s shareholders last Friday, RZD-Partner reports. “Almost 95% shareholders voted against the cont...
2009-04-30 07:14:09
Eitzen resales MR trio [Shipping]
Eitzen Chemical has sold three chemical tanker newbuildings for $124m. The company said it reached an agreement with Sweden’s Laurin Maritime to sell the 46,000 dwt vessels, under construction at the Brodotrogir shipyard in Croatia, through a n...
2009-04-30 07:09:04
Boxship market may pick up next year [Shipping]
Boxship owners are looking at a market turnaround from as early as next year. CMA CGM executive vice-president Jean Marc La Cave said 2010 could bring a recovery for the container shipping markets. Quoting data from Global Insight, Clarkson and D...
2009-04-30 07:04:55
Wartsila Korea Technical Seminar opened [Equipment]
Wärtsilä Korea and Wärtsilä-Hyundai Engine Company jointly held the Wärtsilä Korea Technical Seminar in Busan, South Korea on April 29th to promote better services for customers. Inspectors, Engineers and design worke...
2009-04-30 06:26:17
Hyundai won $1.8bn orders in March [General]
Hyundai Heavy Industries of South Korea recently revealed in a regulatory filing that it has received orders worth $1.8bn in March, down 82.84% against a year ago. The figure is up 49.04% from February but the company’s Shipbuilding Division has re...
2009-04-30 06:17:03
Hyundai adopts WiBro [Equipment]
Hyundai Heavy Industries introduces WiBro (Wireless Broadband) technology into its shipyard site for the first time in the world, incorporating IT into shipbuilding in a bid to establish ‘Digital Shipyard’. The world’s largest shipbuilder on...
2009-04-29 14:17:53
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