Ways to leading country [Shipbuilding]
Shipbuilders of South Korea, the world’s largest shipbuilding nation, which are taking a hit from the global economic downturn, need to come up with new strategies to maintain its No. 1 position. They now seem to have to turn their strategies fr...
2009-04-27 06:22:24
Cosco to cancel or delay orders [Shipping]
China Cosco plans to cancel or postpone some of its vast portfolio of ship orders, scotching speculation that the state-controlled shipping line might be forced to increase its orderbook to support China’s shipyards. The company, the world’s b...
2009-04-24 15:09:18
Iranian awards VLCC deal to Daewoo [Shipbuilding]
National Iranian Oil Tanker Company has awarded a USD 128 million contract to South Korea's Daewoo Shipbuilding and Marine Engineering for the supply of a very large crude carrier a ship weighing more than 160,000 tonnes. According to Iran's offic...
2009-04-24 15:05:06
Asian yards lost $25bn: Cancelled orders [Shipbuilding]
An unprecedented number of cancelled orders is thought to have cost Asian shipyards more than $25 billion (£17 billion) in lost revenues. Two of the world's largest fleet owners estimate that worldwide between 250 and 300 orders for bulk carrie...
2009-04-24 11:53:25
Hellenic banks cooperate with shipowners [Finance]
The Association of Banking and Financial Executives of Hellenic Shipping elected a new board, led by President Alexandros Tourkolias. Also, among the members elected was Mr. George Xiradakis as Secretary General. Mr. Xiradakis commented on the curren...
2009-04-24 11:40:36
Nok Bong’s workout collapses [Shipbuilding]
South Korea’s troubled shipyard Nok Bong Shipbuilding’s debt rescheduling procedure has ended on April 23rd and it seems to file for court receivership. An official at Shinhan Bank, the shipbuilder’s main creditor, said, “At the creditors ...
2009-04-24 11:17:49
Clouds gathering over Gdansk shipyard [General]
European Commissioner for Competition Neelie Kroes has rejected the restructuring plan for Gdańsk shipyard. According to Kroes the plan fails to prove that after restructuring the plant will be profitable. She argues that state aid envisaged ...
2009-04-24 08:01:23
Keppel seeks to cut costs: ‘No sacred cows’ [Finance]
Singapore’s Keppel Corp has warned there are “no sacred cows” as it aims to cut costs amid a “shaky start” to the year for world markets. The shipbuilder and repairer stressed the outlook for the rest of the year is “uncertain” altho...
2009-04-24 07:57:17
GSI profit cut in half [Finance]
China’s Guangzhou Shipyard International (GSI) has seen first quarter profit slashed in half as costs rose. The company said net earnings to 31 March fell to CNY 129.2m ($18.92m), from CNY 258m in the same three months of 2008. Steel costs we...
2009-04-24 07:52:54
Bulker scrapping reach 99 ships in Q1 [General]
The volume of demolished bulkers in January-March 2009 reached 99 units, aggregating 4.08 million dwt, according to the U.K.-based Clarkson Research. Broken down, the vessels were made up of five Capesizes (with capacity above 100,000 dwt) of 790,000...
2009-04-24 07:50:31
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