Vinashin under scrutiny [General]
The Government Inspection Agency of Vietnam has announced it will inspect some fields of operation of the state-owned Ship Building Industry Group (Vinashin). According a decision signed by Vice Chief Government Inspector Nguyen Van San, an 11-member...
2009-04-23 07:39:57
IHI cuts losses forecast [Finance]
Japan’s IHI Corp has once again slashed its expected full-year net loss figure just before it announces the actual result. The troubled shipbuilder still expects a reverse for the 12 months to the end of March 2009 but has now in the past two month...
2009-04-23 07:35:00
Tanker values may fall 20% [Finance]
Tanker asset values could drop by up to one fifth this summer following a crash in spot market earnings, Fearnley Fonds warns. Rikard Vabo, an analyst at the Norwegian investment house, says the fall is likely in the next couple of months in ligh...
2009-04-23 07:32:12
Petrobras in newbuilding talks [Shipbuilding]
Petrobras executives are in South Korea this week to discuss potential vessel orders that could total between $25bn and $30bn, the company's CFO says in media reports. Executives have held meetings with several of the Asian country's yards, namely Hy...
2009-04-23 07:27:54
CMB re-enters tanker market [Shipping]
Belgian shipping group CMB has decided to change the type and number of its ships currently on order with South Korea's Hanjin Heavy Industries & Construction (HHIC) from two 180,000-dwt Capesizes to three 115,000-dwt Aframax tankers. Delivery is sla...
2009-04-23 07:23:19
MES chairman may be SAJ’s next chairman [General]
Takao Motoyama (pictured, sitting), chairman of Mitsui Engineering & Shipbuilding (MES), has been provisionally selected to become the next chairman of the Shipbuilders' Association of Japan (SAJ). His appointment will be officially decided at SA...
2009-04-23 07:19:13
3 yards struggling in rehabilitation [Finance]
It seems that the three emerging and small/medium-sized South Korean shipyards that have entered bank-controlled workout procedures are making little headway due to the concerned entities meeting ran into difficulty to harmonize their diverse views, ...
2009-04-23 07:09:52
Nurturing manpower is top priority: SAJ's Tazaki [General]
Masamoto Tazaki (pictured), chairman of the Shipbuilders' Association of Japan (SAJ), held his last regular press briefing on April 20, where he indicated that the top priority of the shipbuilding industry should be to foster human resources who will...
2009-04-23 07:04:20
Top shipbreaker joins hands with Shaoguan [Equipment]
It is reported that as the largest ship-breaking company in Asia, Xinhui Shuangshui Shipbreaking & Steel Co Ltd signed a strategic cooperation agreement days ago with Shaoguan Iron & Steel Group Co Ltd indicating that they began their mutualism. As p...
2009-04-23 06:58:30
Bulker deliveries shrink in Q1 [Shipbuilding]
The 97 newbuild dry bulk vessels that entered the fleet in the first quarter were well short of the pace needed to meet the year’s delivery schedule, according to Simpson Spence & Young. Only 10% of the total 964 ships scheduled to enter the dr...
2009-04-23 06:50:55
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