Korea reshuffles 10 industries including shipbuilding [General]
South Korean government is planning to restructure ten representative industries in the country over the mid- and long-term, a confidential government report exclusively obtained by a local media said yesterday. The Knowledge Economy Ministry wrote t...
2009-04-14 15:37:48
STX secures loans of $417m from Chinese [Finance]
South Korea’s STX Group has succeeded in securing loans of CNY 2.85bn ($417m) from Chinese financial institutions for the second phase construction of STX Dalian Shipbuilding Base in China. STX said on April 14th that it has won the financing fo...
2009-04-14 15:13:06
Demolition sales slow [General]
THE relentless supply of vessels facing demolition, coupled with the steel price crash and potential yard closures hanging over the heads of Bangladeshi ship recyc­lers, ensured that last week became perhaps the slowest week in recent months. Wit...
2009-04-14 11:14:32
Beluga Hochtief will construct Jack-up vessels [Offshore]
German transportation specialist for project and heavy-lift cargo Beluga Shipping GmbH and compatriot construction giant Hochtief will create a joint venture tasked with installing equipment to generate wind power offshore. The joint company, to ...
2009-04-14 09:11:29
Hanjin bargain sale boxship trio [Finance]
A 6,500-teu trio up for sale at a huge discount has won little interest.Hanjin Heavy Industries of South Korea is struggling to find a buyer for three 6,500-teu post-panamax boxships being marketed at a level some 45% down on their original order pri...
2009-04-14 08:58:36
Equipment makers making fire sales [Equipment]
With shipbuilders being forced to accept newbuilding contract cancellations centering on Chinese yards, the growing surplus of marine equipment once scheduled for installation on such newbuildings is holding the spotlight. There is information f...
2009-04-14 08:48:59
Diana Shipping acquires Gala Properties [Finance]
Monday, Diana Shipping Inc., a shipping transportation services provider, said that it has executed an agreement with a related party to acquire a single purpose company, Gala Properties Inc. in exchange for Diana's interest in a vessel with identica...
2009-04-14 07:41:51
Shipbuilders turn to offshore [Offshore]
Hit by the global economic crisis, the shipbuilding industry is in rough waters. According to industry researcher Clarkson, the shipbuilding price index dropped one point to 157 as of April 3, the lowest this year. Also global orders for new vess...
2009-04-14 07:37:30
MKU bags $35m armoring order [Equipment]
Defence solutions provider MKU said Monday it has bagged an order worth $35 million for armouring 186 high-speed boats procured for coastal security forces. The order has been received from Goa Shipyard and Garden Reach Shipyard and Builders for the ...
2009-04-14 07:33:42
PetroProd in liquidation [Finance]
Bondholders have obtained a liquidation order against Norwegian FPSO and rig owner PetroProd in the Cayman Islands. The bankruptcy-like proceeding for the appointment of a provisional liquidator was filed formally on Friday by Oslo-based bond trus...
2009-04-14 07:28:36
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