Over 500 Pax. to be in surplus [Shipping]
More than 500 Panamax bulkers may be in surplus on the global market by 2011, according to a new projection by major German ship financing firm DVB. A foreign newspaper quoted DVB as saying that the supply-demand gap will widen as the global flee...
2009-03-30 07:09:21
Square up for Shell FPSO [Offshore]
Shipyards and their contractor partners submitted commercial unpriced bids this week for energy major Shell's giant floating production, storage and offloading unit (FPSO). This latest round of offers includes details of the shipbuilding contract and...
2009-03-30 07:03:19
Yards can now use steel in place of tank coatings [Equipment]
Shipyards will be allowed to use anti-corrosive steel rather than enhanced coatings to protect tanker cargo tanks. The International Maritime Organisation (IMO)'s Design and Equipment subcommittee agreed that recently developed steels are a suitab...
2009-03-30 06:59:49
New Orient yard still on schedule [Finance]
A South Korean yard claims its new facility will deliver its first vessel this year. Orient Shipyard Co/Orient Heavy Industries of South Korea is pushing ahead with construction of its new facility, Orient Gwangyang Shipyard, which aims to deliver...
2009-03-30 06:56:03
Yujin sticks to promise with tanker orders [Shipping]
Newly London-listed Asian owner Yujin International has made good on its promise to order new vessels despite the downturn. The Singapore-based company says it has signed contracts for two 5,500-dwt IMO II tankers plus two options at an unnamed Ch...
2009-03-30 06:53:16
'Drastic' cut in Clipper Group bulker orders [Shipping]
Denmark's Clipper Group has drastically reduced its exposure to bulker newbuildings. The Copenhagen-based owner says its bulker orderbook is expected to fall from almost 60 to around 15 or 16 vessels. President and chief executive Frank Jensen say...
2009-03-30 06:50:21
Pipavav denies ditching handy construction [Shipbuilding]
India's Pipavav Shipyard is denying reports it has scrapped its plans to build handysize bulkers. Sources say the yard's senior management is not keen due to lack of demand in the current market. The newly established yard had planned last year...
2009-03-30 06:47:38
World orderbook heading for worst year [Shipbuilding]
Newbuilding orders are headed for their worst year since records began. According to London broker Clarkson, only seven contracts totalling 200,000 dwt were reported last month. Clarkson says the situation so far this year appears to be worsening....
2009-03-30 06:45:30
Chowgule denies plan to delay deliveries of Saiki bulkers [Shipping]
Chowgule Steamships is denying reports that it is looking to push back the delivery of at least two of its bulkers on order at a Japanese yard. Sources say the Indian owner plans to postpone the delivery of a 37,000-dwt handymax and 29,000-dwt han...
2009-03-30 06:42:19
Polsteam gives orders full gas [Shipping]
A confident Polish operator is persevering with its orders for handysize and kamsarmax bulkers. Polish Steamship Co (Polsteam) says it is pressing ahead with the remainder of its massive newbuilding programme. Polsteam, which claims to have avo...
2009-03-30 06:39:47
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