Samsung may win new orders soon [Shipbuilding]
Samsung Heavy Industries vice-chairman Kim Jing-wan (pictured) recently said, “We may deliver good news (receive new orders) from Russia next month, if early.” He said in an interview with local press, “From the second half considerable amou...
2009-03-20 06:21:28
Ezra to be reimbursed advance payments [Finance]
Ezra Holdings has been reimbursed the advance payments made for two newbuildings, which were subsequently cancelled. The Singapore offshore vessel operator said it had received the full refund guarantee amounts totaling NOK186m ($27.5m). The funds...
2009-03-19 08:05:05
SCI delays $1bn newbuilding program [General]
Economic turmoil has led Shipping Corp of India to hold off on $1bn worth of newbuilding orders this year. Its plan to pen eight new vessels has been pushed back until the next financial year but it is sticking with its long-term aim of adding 40 ...
2009-03-19 07:59:58
China stimulus plan criticized [Finance]
A leading analyst has ripped into China’s plan to lean on domestic owners to take over cancelled newbuilding orders at its shipyards. The move, potentially part of a state-support package for struggling yards, will “exacerbate the long term overc...
2009-03-19 07:55:39
Stolt cancels one: SLS [Shipping]
Stolt Tankers has cancelled a contract for a delayed coated chemical tanker being built at SLS Shipbuilding in Korea. The subsidiary of Oslo-listed Stolt-Nielsen said the 44,000-dwt ship was originally scheduled for delivery in May 2008. The co...
2009-03-19 07:50:52
Srab cancels three tanker orders [Shipbuilding]
Sweden’s Srab has cancelled an order for three small products tankers at Eregli Shipyard in Turkey. The company is taking an SEK 32m ($3.83m) hit from the move, as the yard retains the deposits on the 8,400-dwt vessels. All three were due for de...
2009-03-19 07:45:44
Niigata Power bags first order for new engine [Equipment]
Niigata Power Systems recently received its first order from an overseas customer for its new medium-speed engine 28AHX, which it developed and introduced on the market last autumn. The new engine will be supplied with a 360-degree swivel Z-type prop...
2009-03-19 07:41:32
LNG tanker talks to remain slow in 2009 [Offshore]
It seems that negotiations for the procurement of LNG carrier newbuildings will still evolve on a weak tone this year. As of today, projects that are expected to hold international tenders are related to three countries, namely, Papua New Guinea (PNG...
2009-03-19 07:36:09
65% of bulker orders face cancellation or delays [Shipbuilding]
Newbuilding delays and cancellations are set to significantly increase as owners come under further financial pressure and vessel demand falls. In its latest Asia Shipbuilding report, HSBC estimates that as much as 65% of the 104.5m dwt of dry bu...
2009-03-19 07:32:07
Hanjin Shipping 'rebound': 2011 [Shipping]
Hanjin Shipping, South Korea’s largest shipowner said on Wednesday that liner shipping will not begin to recover until 2010. Hanjin’s senior vice president Harry Shin told Reuters that carriers like itself will best serve themselves by focusi...
2009-03-19 07:25:45
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