OSG moves incomplete newbuilding order [Shipbuilding]
Overseas Shipholding Group (OSG) vessels under construction at Bender Shipbuilding & Repair reportedly have been moved to another yard. The incomplete articulated tug barges (ATBs) now have been moved to Pascagoula, Mississippi-based VT Halter Mar...
2009-03-24 07:23:34
“Perfect storm” in boxship sector [Shipping]
The rapid decline in cargo volumes on the world’s two most important liner trades, combined with record deliveries have created the “perfect storm” for the container sector. In its latest weekly report, Clarkson says the three-month moving ...
2009-03-24 07:19:02
Liberia registers 3,000th vessel [General]
The Liberian Registry has passed a major milestone by registering its 3,000th vessel, the 105,400 dwt aframax tanker Ise Princess, built this year for Fairsea Enterprises SA and managed and operated by Tsakos Shipping & Trading SA of Greece. Scott...
2009-03-24 07:15:32
PGS cancels seismic [Offshore]
Norwegian shipowner Petroleum Geo-Services has cancelled one of four seismic survey ships it ordered from Spanish yard Factorias Vulcano. PGS subsidiary Arrow Seismic Invest notified the yard and demanded a €39m ($53m) refund after a charter par...
2009-03-24 07:11:33
Breakers given three-week reprieve [General]
Bangladeshi ship recyclers have been given a three-week reprieve from a High Court ruling, which last week ordered the closure of all shipbreaking yards without environmental clearance within two weeks. Local media reported that the Bangladesh Sh...
2009-03-24 07:04:49
KG model in crisis [Finance]
Germany’s KG shipfinance system is slipping deeper into crisis as investors are asked to authorise the sale of vessels at rockbottom prices rather than risk bankruptcy of some shipping funds. Financier Gebab is recommending the fire sale of a sh...
2009-03-24 07:01:23
Save shipbreaking, cry jobless workers [General]
Thousands of workers of different ship-breaking yards yesterday formed a human chain on the Dhaka-Chittagong highway in Sitakunda demanding steps to save the sector now in limbo. They sought the prime minister's immediate intervention saying 30,000 w...
2009-03-24 06:56:02
Siem axes two AHTS [Offshore]
Norway-based ship owner Siem Offshore has cancelled NKr1.2bn ($190m) of shipbuilding contracts at Norwegian shipyard Kleven Maritime. Delayed delivery of equipment from sub-contracts led to Kleven and Siem agreeing to cancel two newbuilding ancho...
2009-03-24 06:51:07
Wadan wins 4 passenger ships [Shipbuilding]
The crisis-ridden Wadan Yards in Wismar and Rostock-Warnemünde have received new shipbuilding orders totalling €1bn. Wadan Yards’ Russian co-owner Andrej Burlakow announced that four passenger ships, each worth €250m, would be built at...
2009-03-24 06:47:05
Orient Shipyard to launch its first ship [Shipbuilding]
On March 23rd, Orient Shipyard of South Korea held a launching ceremony for its first-ever ship OSN-1001. The vessel is said to be the first of the three 33,300-dwt bulk carriers which were ordered by compatriot shipowner Sunwoo ST in August 2007....
2009-03-24 06:13:56
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