Chinese stubborn on newbuilding prices [Shipbuilding]
Far Eastern shipyards say they will not bow to pressure to cut prices because of the fall in the cost of steel plate. Chinese shipbuilders say steel prices have already bottomed out and mills, which have lowered prices by more than half since Augu...
2009-04-06 07:17:05
Indian yards ask government action [Finance]
Indian shipbuilders are demanding protectionist measures from their government to end an orders drought. Sources say the Shipyards Association of India (SAI) has asked the government to make it mandatory for Indian shipowners to place their orders at...
2009-04-06 07:08:54
Time for reforming: Shipping [Shipping]
Amid the ever-growing clamour for reform and tighter regulation of financial markets in the wake of the global credit crunch, shipping has - true to form - quietly slipped under the radar. For all the gripes about questionable practices in the sec...
2009-04-06 07:06:21
YS Heavy fails to restructuring [Finance]
Seoul will not be extending a helping hand to cash-strapped YS Heavy Industries. The Yeosu-based shipbuilding and shiprepair company is deemed "non-viable" by South Korea's Financial Supervisory Service (FSS) in the country's latest credit-risk re...
2009-04-06 07:02:30
Molaris denies suezmax project [Shipping]
The former Excel Maritime boss is rejecting suggestions that he is involved in a project to buy five tankers. Former Excel Maritime boss Stamatis Molaris is categorically denying he is fronting a new project to buy five modern suezmax tankers with...
2009-04-06 06:58:16
Greek family returns to dry bulk [Shipping]
Low vessel values are luring the Kallianis family back into shipping. The Kallianis family of Greece has made a comeback in shipping after a seven-year absence to take advantage of falling bulker prices. Captain Dimitris Kallianis has formed a new...
2009-04-06 06:54:15
Vale continues capes buying [Shipping]
Vale is said to have bought another capesize bulker as the charterer apparently continues to take advantage of lower vessel prices to build up its owned fleet. The Brazilian miner has signed up to pay $36m for the 179,000-dwt Akagisan (ex-Asakasan, b...
2009-04-06 06:42:17
Germanish desperate [General]
The 'golden times' are over after the cancellation of 51 newbuildings with more at risk. German shipbuilding faces a crisis situation, with a total of more than 60 newbuildings either cancelled or at risk over financing. The "golden times" of buil...
2009-04-06 06:37:37
Indians bonanza [Finance]
Indian shipyards are likely to pocket up to INR 51bn ($1.02bn) in state subsidies for orders won up to August 2007. ABG could be the biggest winner, bagging INR 17bn, followed by Pipvav with INR 10.5bn and Bharati on INR 10bn, the Business Line da...
2009-04-06 06:27:31
Hyundai completes FPSO-building dock [Offshore]
‘H Dock’, Hyundai Heavy Industries’ 10th dock and the world’s first dock for building FPSO has been completed. The one million ton class H dock has a length of 490 meters, width of 115 meters and height of 13.5 meters. The investment in th...
2009-04-06 06:10:44
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