Newbuilding orders in Japan collapse [Shipbuilding]
Newbuilding export orders in Japan have fallen by nearly 47% in fiscal 2008 compared to a year earlier official figures show. Japan Ship Exporters’ Association (JSEA) yards concluded orders for 330 export ships of 14.5mgt in the 12 months to Mar...
2009-04-28 07:33:54
Bergen reduces business in Sweden [General]
Norway’s Bergen Group has decided to “reduce the business” at its shipyard in Landskrona, Sweden, by laying off 52 of the 61 workers. The Landskronavarvet plant was bought as part of the $38.87m takeover of Fosen Holding in 2008. It builds s...
2009-04-28 07:30:28
PNSC planning to scrap 7 more [Shipping]
Pakistan National Shipping Corporation (PNSC) is reportedly planning to scrap seven more of its elderly ships by the end of next year. The Business Recorder claims sources say the owner wants rid of old vessels, and will potentially leave many of ...
2009-04-28 07:28:08
LNG carrier newbuilding prices fall [General]
Quoted prices of LNG carrier newbuildings are falling. Amid the more than two-year-long stagnant newbuilding market, the ordering rush until last October of other types of ship prevented the prices of LNG carriers from collapsing, but the subsequent ...
2009-04-28 07:24:42
Titan posts $205m loss for 2008 [Finance]
Shipbuilding, tanker and oil storage company Titan Petrochemicals posted a HK$1.6bn ($205m) loss last year on the back of a HK$1.2bn loss from its discontinued oil trading business. Last year’s loss compared with a HK$31m loss in 2007. Revenue ...
2009-04-28 07:20:52
Iron ore big three boost capesize market [Shipping]
The capesize sector roared back to life last week, buoyed by the ‘Big Three’ iron ore producers and smaller charterers. “Vale, Rio Tinto and BHP Billiton have been vigorously fixing ships and this has pushed up rates. New tonnage has become ...
2009-04-28 07:17:28
Turkey ranks fifth in world shipbuilding [Shipbuilding]
Turkey’s worldwide market share in shipbuilding has risen from 0.9% to 1.4% making Turkey the 5th in shipbuilding behind Germany, which occupies 4th place with a share of 3.6%. Due to projects implemented by the Turkish ministry of transport in...
2009-04-28 07:12:08
ThyssenKrupp workers reject new revamp plan [General]
ThyssenKrupp AG labor representatives said they won't approve new plans by the German industrial conglomerate's management to restructure the company, warning of an escalation of the dispute. In a written statement, the workers' council of ThyssenKru...
2009-04-28 07:04:34
Japanese buying trade insurance [Shipbuilding]
Shipbuilders are feeling a surging sense of wariness over possible management failure of the owners that have ordered newbuildings from them. This is because should owners face managerial crisis from the persistent shipping slump, it could lead t...
2009-04-28 06:53:20
Japan-Russia LNG carrier plan [Offshore]
Three Japanese companies are teaming up with Russian shipyard group United Industrial Corporation (UIC) to study the possibility of building large new LNG carriers. Mitsubishi Heavy Industries (MHI), NYK and Mitsui & Co said they wanted to constru...
2009-04-28 06:47:45
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