Crisis to be seen as ‘the good’ [Shipping]
Norden chief executive Carsten Mortensen (pictured) says the dry bulk industry will soon be grateful that the current crisis it is struggling through has come so quickly and roughly. Mr Mortensen said that while his Copenhagen-based company was in th...
2009-04-08 06:37:31
Majors issuing bonds in a row [Finance]
Major South Korean shipyards have been issuing large amounts of corporate bonds one after another since the start of 2009. They had been reducing interest-bearing debts and virtually undertaking debt-free management in the past seven years, suppressi...
2009-04-08 06:29:42
Prepare a party for survivors [Shipbuilding]
South Korean shipbuilding industry, leading the world shipbuilding market, has received virtually no orders during the past half year or so and atmosphere of crisis has been mounting. Nevertheless, order-intakes are expected to take place in April...
2009-04-08 05:50:32
Daewoo awards MacGREGOR crane orders [Equipment]
MacGREGOR has received an order for 28 hose handling and provision cranes from South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME). ”For many years now MacGREGOR has enjoyed fruitful co-operative agreements with DSME and we ...
2009-04-07 17:58:49
Acquisition of Hyundai Corp.: Family battle [Finance]
Competition for the acquisition of Hyundai Corporation is getting fierce between two powerful candidates, Hyundai Heavy Industries and BNG Steel, both of which belong to Hyundai Group. Creditors of Hyundai Corporation plan to conduct preliminary ...
2009-04-07 16:06:25
Foreign PEF eyes Sungdong [Finance]
Sungdong Shipbuilding & Marine Engineering, a shipbuilding stalwart in South Korea received a letter of intent for investment from a foreign private equity fund (PEF) early this month, reported local newspaper. An official at the shipbuilder said,...
2009-04-07 15:18:10
Brazil Maua shipyard sheds 200 [General]
With a lack of large-scale orders, Brazil's Maua shipyard plans to cut 200 jobs. The Niteroi Steelworkers Union says the Rio de Janeiro-area shipyard began the job cuts last week, the Agencia Estado newswire reports. The cuts amount to 3.8% of ...
2009-04-07 11:14:03
Swan Hunter cranes leave for India [General]
One hundred and forty-five years of production at Swan Hunter, one of the world's most famous shipbuilders, has ended after its last cranes left the Tyne bound for India. More than 1,600 vessels have been built at the firm's yard in Wallsend, No...
2009-04-07 11:12:05
$32bn loss for global shipping this year [Shipping]
Terminal operators with a diversified portfolio, especially those with ports in developing economies, are likely to fare better than their competitors with locations fixed in traditional markets. That’s the assessment of APM Terminals chief ope...
2009-04-07 11:10:41
Daewoo may face restructuring [Finance]
Daewoo Shipbuilding & Marine Engineering and GM Daewoo Auto & Technology run the risk of being restructured by their creditors, as their debt ratios are too high. The Financial Supervisory Service (FSS) said Monday that Korean chaebol with debt-t...
2009-04-07 10:56:39
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