Japanese shipyard closes down [Shipbuilding]
Medium-sized shipyard Kanasashi Heavy Industry has closed down due to it being unable to obtain the necessary loan capital from any bank. According to Clarkson’s information, the orders Kanasashi holds is enough for next three years. There a...
2009-04-09 07:17:34
$3bn fund authorized for shipowners [Shipping]
The South Korean government will launch a 4 trillion-won (US$3bn) fund to help local shipping companies, government officials said Tuesday. According to the Ministry of Land, Transport and Maritime Affairs and the Financial Services Commission (FS...
2009-04-09 07:13:09
Chinese still in slump [Shipbuilding]
China's fledgling shipbuilding industry is set for more hard times as industry insiders have indicated that the global shipbuilding industry is unlikely to recover in the near future. New shipbuilding orders received by China in the first quarter of ...
2009-04-09 07:08:09
Tanker rates reach record-lows [Shipping]
The crude oil tanker market is further weakening, with rates on VLCCs dropping below WS30 for those bound for Taiwan, representing the lowest level since September 2002. Even the Suezmax tanker market, which had been relatively strong until late-M...
2009-04-09 07:02:09
Shipbuilding subcontractors sales jump [Equipment]
Shipbuilding subcontractors in Japan are expanding their business operations markedly. According to a field survey on member companies recently undertaken by the Japan Shipbuilding Subcontractors' Association (JSSA), their sales have increased fo...
2009-04-09 06:57:34
Rescue plans for SSW [Finance]
A plan has emerged to rescue bankrupt SSW Schichau Seebeck Shipyard in Bremerhaven. A group of investors comprising SSW owners Dieter Petram and Karl Ehlerding, and Bremerhaven-based steel construction company Rönner, together with shipyard Lloy...
2009-04-09 06:50:27
MSC renego cruiseship newbuilding [Shipbuilding]
MSC Cruises is renegotiating contracts for two cruiseships due to be built at STX Europe’s Saint Nazaire yard. The price of the vessels is the main issue of contention but the cruise company has also decided on a substantial increase in the size...
2009-04-09 06:47:31
Eitzen cancels 11 ship orders [Shipping]
Eitzen Chemical has chopped order for five chemical carriers in Japan in light of the global financial crisis. Its move comes as the Oslo-listed company enters into discussions with lenders regarding the restructuring of debt. Eitzen says it will ...
2009-04-09 06:34:57
Eximbank blood for shipbuilders [Finance]
The Export-Import Bank of China, a policy bank led by the State Council, granted shipbuilding-related loans totaling 102.46 billion yuan ($14.99 billion) and $7.45 billion through the end of 2008. The bank also issued bank guarantees of $20.3 billion...
2009-04-09 06:29:37
Spring will be fine [Shipbuilding]
South Korean shipbuilding industry which has achieved highest-ever business results last year is now faced with challenges. Newbuilding market had been enjoying greatest-ever prosperity during the past five years or so to the latter half of 2008. ...
2009-04-09 06:09:44
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