Newcomer stars Power Sale [Shipbuilding]
A Chinese shipbuilder is hoping to attract capesize orders with delivery in 2011. A new Chinese shipyard is attempting to win newbuilding contracts in a dead market by selling ships at heavily discounted prices. Jiangsu-based People Heavy Industry...
2009-04-11 12:25:53
"Sea Asia 2009" in Singapore [General]
Sea Asia 2009, the region's leading maritime conference and exhibition, opens in Singapore on Apr. 21, with more than 350 companies from 27 countries participating. A symposium for Asian business executives will be held during the three-day session a...
2009-04-11 12:04:08
GSI warns Q1 net profit down 50% [Finance]
China's Guangzhou Shipyard International Co (GSI) said Thursday its net profit for the first quarter is expected to drop by about 50 percent from a year earlier. "During the first quarter of 2009, the profitability of the company decreased as a resul...
2009-04-10 17:47:33
Survival competition ongoing [Shipbuilding]
The competition between the top three shipbuilding countries, namely South Korea, China and Japan is expected to get fiercer going forward as shipbuilding bubble busted following the global financial crisis. In last summer, newbuilding contracts s...
2009-04-10 16:12:46
Sekwang Shipbuilding to turn a profit [Finance]
Sekwang Shipbuilding & Engineering of South Korea revealed Friday in a regulatory filing that it has achieved operating profit of KRW 27.84bn ($21m) for 2008, which contrasts with operating loss of KRW 3.83bn for 2007. The shipbuilder’s revenue inc...
2009-04-10 15:05:09
Cochin delivers PSVs, plans to build high-end ships [Offshore]
Cochin Shipyard on Tuesday delivered another platform supply vessel to NFC Offshore, Norway. This is the second vessel delivered to the same owner with the previous one being delivered on March 30. The protocol documents of the ship named “Hell...
2009-04-10 11:17:40
Brazil to order $15bn rig newbuildings [Offshore]
Samsung Heavy Industries Co., Keppel Corp. and Sembcorp Marine Ltd. may compete for as much as $15 billion in business this year as Brazil orders rigs, JPMorgan Chase & Co. said. Petroleo Brasileiro SA will take bids for 28 oil-drilling rigs betw...
2009-04-10 11:05:16
Troubled IRISL newbuildings soon to be delivered [Finance]
Iran’s biggest shipowner IRISL has been blocked from taking delivery of three recently-built post-panamax containerships after failing to make the final down-payments to South Korea’s Hanjin Heavy Industries & Construction. But Hanjin Heavy so...
2009-04-10 08:22:51
Work to begin on building ships at Techport Australia [Shipbuilding]
South Australian Premier Mike Rann says a further 140 workers required for the massive task of building the three ships under the $8 billion Air Warfare Destroyer contract will be recruited between now and the end of this year. Mr Rann revealed AS...
2009-04-10 07:53:27
TTA scraps elderly bulker [General]
Thoresen Thai Agencies has sold a 27-year-old bulk carrier for scrap. Its 17,326-dwt Thor Merchant (built 1982) was bought by Gibraltar-based Unisoft International for $2.01m, a statement says. TTA, which says the sale price matches up with the sh...
2009-04-10 07:47:58
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