Oslo Marine puts fleet plans on ice [Shipping]
Russia's Oslo Marine Group has been forced to put its European expansion on hold. The plans of Russia's Oslo Marine Group (OMG) to build up its European fleet to 30 ships have been paralysed by the credit crunch. Orders for four multipurpose (MPP)...
2009-03-23 07:01:40
Arpeni cancels fleet-expansion plans [Shipping]
The global financial crisis has caught up with Indonesia's Arpeni Pratama Ocean Lines, which has cancelled its much-touted fleet-expansion plan for 2009. The company is instead looking to raise cash to support its existing fleet. Well-placed Indonesi...
2009-03-23 06:57:29
Admiralty to execute orders attracted by OSK [Shipbuilding]
Admiralty Shipyards (St. Petersburg) as a part of the United Shipbuilding Corporation (OSK) will be in charge of technical execution of orders, the attraction and financing of which will be within the competence of the Corporation. According to the c...
2009-03-23 06:53:54
Shipbuilders asked to stretch repair duties [General]
The Maritime Industry Authority (Marina) recently asked shipyard operators, especially those who plan to close down soon, to stretch their repair operations for a few more months to accommodate ships that need to comply with government requirements. ...
2009-03-23 06:45:41
White knights may backfire [Shipbuilding]
China's giant shipping companies are being tipped as white knights who can save the country's ailing shipyards. Cash-rich owners such as Cosco, China Shipping Group, Sinotrans and others are said to be facing increasing pressure from the Chinese g...
2009-03-23 06:40:51
Newbuilds going from yard to layup [Shipping]
An increasing number of containership newbuildings are going straight from the yard into layup rather than trade at dire market rates. German owner Foroohari Schiffahrt has emerged as the latest owner to follow the growing trend, putting the 1,795...
2009-03-23 06:36:49
Shipbuilders crisis spreading [Equipment]
Newbuilding ordering activity has in effect stopped since last October and the crisis of shipbuilding industry is spreading into marine equipment industry. As newbuilding order cancellations are following one after another by shipowners due to the...
2009-03-23 06:13:12
Goliath fell down at Samsung [General]
A 900-ton goliath crane under construction in a block factory being built by Samsung Heavy Industries of South Korea collapsed at night on March 21st due to a gale. Samsung Heavy said that the schedule of the construction of the factory would not ...
2009-03-23 06:06:40
ONGC ready to order another WSV [Offshore]
Indian state-owned exploration-and-production (E&P) major Oil & Natural Gas Corp (ONGC) plans to contract another well-stimulation vessel (WSV). Sources say the company is looking to place an order for a second WSV by August at an estimated cost of...
2009-03-21 17:11:05
Stimulus plan made public: China [General]
China will extend the policy of giving a 17 percent subsidy on ship prices for domestic ocean-going ship buyers till 2012 and also offer preferential interest rates to shipbuilders as a part of the stimulus package for the industry, a local newspaper...
2009-03-21 16:45:10
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