Greek ship finance to shrink this year [Finance]
The international banking crisis is taking its toll on lending to Greek shipowners but the full effects will only be obvious during the course of this year, according to a leading ship finance researcher. Total bank funding of Greek shipowners is...
2009-04-16 07:06:57
Sovcomflot net profit hits record $406m [Finance]
Russian tanker giant Sovcomflot reported a record $406m net profit for 2008, as it warned of a difficult year ahead for the shipping sector, with no significant improvement until 2011. The world’s fifth-largest tanker owner also reported gross reve...
2009-04-16 07:02:33
Cochin to set up shipyard at Vizhinjam [General]
India’s public sector Cochin Shipyard Ltd has expressed its interest in setting up a ship repair complex/shipyard near the proposed international transhipment port at Vizhinjam. The EoI has been submitted by the company to the Kerala Government...
2009-04-16 06:59:14
Dry bulk shows signs of life [Shipping]
After 22 straight falling sessions for dry bulk freight rates, the Baltic Dry Index (BDI) finally headed back up, during the last couple of days. The BDI rose a further 14 points yesterday at 1,492, coupled with another 15 point gain of 1% last T...
2009-04-16 06:54:11
Replacing vessels to help Germanish [Shipbuilding]
The German government will bring forward investments in ships to help its troubled shipyards to survive the current downturn. According to Minister of Transport Wolfgang Tiefensee, old state-owned vessels should be scrapped earlier than originall...
2009-04-16 06:49:38
Daehan may win new loans [Finance]
South Korea’s Daehan Shipbuilding, which is undergoing debt workout program, may receive new loans of some KRW 170bn ($127m) soon from its creditors. Daehan’s main creditor Korea Development Bank is now preparing a workout plan including the a...
2009-04-16 06:18:11
New orders draw near [Shipbuilding]
While shipbuilding orders have almost ground to a halt worldwide this year, some South Korean shipbuilders are said to be receiving newbuilding inquiries. As newbuilding prices fell to four-year low, some shipowners seem to be beginning to find ne...
2009-04-16 06:14:31
Dae Sun delivers nuclear waste container carrier [Shipbuilding]
The first South Korea-built nuclear waste container carrier has been completed. Dae Sun Shipbuilding & Engineering on April 15th delivered the country’s first pure nuclear waste container carrier to Korea Radioactive Waste Management Corporation...
2009-04-15 14:06:38
Wonyoung’s yard site to be auctioned off [Finance]
Shipyard site of Wonyoung Shipbuilding, a South Korean shipbuilder of middle standing, is set to be put up for auction on April 23rd at the Busan District Court. It is for the first time in the country that a shipyard site is being sold by auction...
2009-04-15 13:27:28
Revenues mount, Operating profits fall: Majors [Finance]
South Korea’s major shipbuilders’ revenues for the first quarter 2009 are forecast to rise but their operating profits may fall. Seoul-based FnGuide Inc. on April 13th said large shipbuilders’ Q1 revenues are expected to grow by more than 20...
2009-04-15 11:39:32
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