Nakilat bullish on LNG fleet expansion [Finance]
Qatar Gas Transport (Nakilat) is confident it can raise a further $1bn of debt finance to help fund the world’s largest fleet of liquefied natural gas carriers despite the turmoil in global financial markets. Managing director Muhammad Ghannam said...
2009-04-01 07:48:23
CSSC profit boost by 49% [Finance]
Soaring newbuilding deliveries led China’s largest shipbuilding group, China State Shipbuilding Corporation, to post a 49% surge in net profit to almost Yuan4.2bn ($617.6m) last year, up from Yuan2.8bn in 2007. Revenue soared 48% to Yuan27.7bn ...
2009-04-01 07:44:16
Tsuji accused of management malpractice [General]
A report issued by the receivers of Japan’s Tsuji Heavy Industries has alleged management malpractice at the highest level going back nearly a quarter of a century. Tsuji a leading deck equipment manufacturer rocked the Japanese market when it file...
2009-04-01 07:41:41
Fincantieri to hold last-ditch talks [General]
Fincantieri holds last-ditch talks with Italy’s three main metalworking unions in the hope of agreeing a deal on a new labour contract. Talks have been going on for months, with the company eager to tie improved rewards closely to improved prod...
2009-04-01 07:38:54
Panamax rates to slide again [Shipping]
Pacific panamax rates could be set for another battering this week as a lack of new cargoes takes its toll on the sector. Brokers said yesterday that this was despite the surprise gain in rates towards the end of last week, which caught many off g...
2009-04-01 07:36:20
Jinhui sells two supramaxes for $60m [Finance]
Hong Kong bulker operator Jinhui Shipping & Transportation has sold two 2008-built supramax bulk carriers for a total of $60m to Japan’s Nisshin Shipping and associate company Ratu Shipping. The two 55,496 dwt vessels, Jin Man and Jin Pu, are expec...
2009-04-01 07:33:32
Soft loan scheme in India [Finance]
Indian shipbuilders have demanded that the proposed Rs 10,000-crore soft loan to shipowners - under Government consideration - should be linked to placing orders with them. “With regard to the Indian shipping companies’ demand on Rs 10,000-crore...
2009-04-01 07:29:41
HHI seeks controling stake in Hyundai Corp [Finance]
South Korea's Hyundai Heavy Industries, the world’s largest shipbuilder, was said to be leading bids for group company, Hyundai Corp, according to sources. Compatriot companies BNG Steel Co and Q Capital Partners have also entered bids for a co...
2009-04-01 07:25:52
StealthGas delays newbuilding deliveries [Shipbuilding]
StealthGas is the latest in a long line of owners to delay newbuilding deliveries as a quintet is held back. The Harry Vafias-led owner also announced it has had some ships controlled by a defaulting charterer arrested after an LPG unit was handed...
2009-04-01 07:21:11
Only the law of the jungle will work [General]
The law of the jungle is the only viable way to restore equilibrium to the world shipbuilding industry, which is likely to result in significantly more cancellations and the elimination of several weaker or newer shipyards. “The picture is not o...
2009-04-01 07:15:49
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