Chokwang Jotun's new Factory completed [Equipment]
Chokwang Jotun, a joint venture between Jotun of Norway and Chokwang Paint of South Korea held a ceremony for the completion of a new factory in Busan City, South Korea on March 31st. The Chokwang Jotun Busan Factory was constructed on a site of 4...
2009-04-01 16:02:02
SPP P&S revenue hits $600m for 2008 [Finance]
SPP Plant & Shipbuilding of South Korea revealed in an audit report that it has achieved revenue of KRW 818.3bn ($593m), operating profit of KRW 73.7bn, ordinary profit of KRW 17bn and net profit of KRW 16.7bn last year. The shipbuilder’s busine...
2009-04-01 15:16:03
Slump could last a decade [Shipbuilding]
Shipbuilding slump such as new order drought and existing order cancellations could last as much as 10 years, according to a prospect. Especially, small and midsize shipbuilders could face closure and it is said they urgently need restructuring such...
2009-04-01 11:48:38
Anxiety of troubled yards [Shipbuilding]
The future of South Korean shipbuilder YS Heavy Industries is in doubt following a decision to not offer government financial aid. The Yeosu based shipbuilding company is deemed as “non-viable” by Korea’s Financial Supervisory service (FSS) ...
2009-04-01 08:15:08
Imabari builds 100th 28K bulker [Shipbuilding]
Imabari Shipbuilding has successfully built its 100th 28,000-dwt bulker. The builder delivered the 100th ship, the Lake Konpira, at its Imabari head office plant, to Panama's Twin Bright Shipping on March 30. With the delivery of the ship, Imabari ha...
2009-04-01 08:09:02
MISC to enter FSRU business [Offshore]
Malaysian shipping company MISC Berhad is set to enter the offshore LNG facility business. According to overseas media sources, MISC is considering converting an existing old LNG carrier into an FSRU (floating storage & regasification unit). Aimi...
2009-04-01 08:07:24
Stolt - SLS go to court [General]
Stolt Tankers B.V., a subsidiary of Stolt-Nielsen, has announced that SLS Shipbuilding Co. Ltd. of South Korea has taken Stolt Tankers B.V. to arbitration to challenge the cancellation of a contract for the construction of a 44,000 dwt coated parcel ...
2009-04-01 08:03:51
Fears grow over troubled yards [Shipbuilding]
Owners who ordered ships at three bankrupt or financially troubled South Korean shipyards await further news about the future of their newbuildings under construction. One yard was targeted for liquidation after creditors completed a second round of ...
2009-04-01 08:01:37
Bangladesh breakers get year’s first VLCC [General]
Bangladeshi breakers closed a string of deals at strong prices in the past week, despite continued doubts about the future of shipbreaking in Chittagong. The sales included the first very large crude carrier sold for demolition this year. The 1...
2009-04-01 07:57:21
VLGC rates see five-month high [Shipping]
Charter rates for very large gas carriers rose to a five-month high of more than $20 per tonne for Middle East to Asian routes. Demand rose as charterers booked tonnage to cover more frequent liquefied petroleum gas exports in the Middle East in A...
2009-04-01 07:53:46
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