Scrap on the rise with traditional buyers busy [General]
Scrap prices are on the rise again, with all the recycling nations active buyers. The highest prices are currently being achieved in Bangladesh, where Sovcomflot subsidiary Novoship is said to have sold its Zaliv-built, 69,000-dwt tanker Aleksandr...
2009-03-17 07:00:57
Premicon denies it has axed newbuild options [Shipbuilding]
Munich-based shipping-finance group Premicon AG, best known for its river-cruise fleet, denies reports that it has axed options for two 2,500-teu containerships at Volkswerft. Spokesman Harald Piper says options for a third and fourth vessel at the H...
2009-03-17 06:57:59
The worst is to come: 120m dwt to be cancelled [Shipbuilding]
A leading broker suggests sharp drops in both orders and prices will return the shipbuilding sector to 1990s levels. Some 120 million dwt of newbuildings could be cancelled as shipowners and yards grapple with the current crisis, predicts one of t...
2009-03-17 06:54:12
Lloyd Werft may buy back Fincantieri stake [Finance]
German shiprepair and conversion player Lloyd Werft has held talks with three potential partners to acquire Fincantieri's 21.05% stake in the company. Managing director and shareholder Werner Luken said that all have agreed to consider investing i...
2009-03-17 06:48:28
CMB rejigs order at Hanjin [Shipbuilding]
Market sources say South Korea's Hanjin Heavy Industries has agreed to a request from Belgian shipowner CMB Group to change an order for bulkers into tankers. CMB signed up for two 180,000-dwt capesizes last July for delivery in late 2010 but has ...
2009-03-17 06:43:11
Dropping of two NB contracts looks crucial for Seven Seas [Shipping]
The cancellation of two newbuilding contracts could be vital for the fortunes of Bergen-based bulker owner Seven Seas Carriers after being hit by non-performing charters. The owner bought contracts last summer for two 58,000-dwt bulker newbuildings f...
2009-03-17 06:36:08
Five ships cancelled at Qingdao Hyundai [Shipbuilding]
Evalend Shipping of Greece has now cancelled five of a total of eight 5,600-dwt chemical tankers booked at China's Qingdao Hyundai Shipyard. Last month, it was reported that two vessels in the series that had been cancelled by Evalend were purchas...
2009-03-17 06:30:49
C& Heavy sale falls apart [Finance]
The sale of C& Heavy Industries, the South Korea’s ailing shipbuilder, in effect collapsed. A Malaysian fund had been said to have expressed interest in purchasing the shipbuilding firm but it did not make its initial deposit which was due on Ma...
2009-03-17 06:24:56
Kexim provides enough liquidity [Finance]
The Export-Import Bank of Korea announced on March 16th that it will provide around KRW4trn ($2.8bn) loans to shipbuilders’ collaborating firms via larger shipbuilding firms. On the day, Korea Eximbank signed an agreement with nine larger shipbu...
2009-03-17 06:19:47
Samjin Shipbuilding names two PCTCs [Shipbuilding]
South Korea’s Samjin Shipbuilding Industries at its Weihai shipyard in China held a naming ceremony for two 6,700-car capacity PCTCs on March 16th. The Dyvi Atlantic and Dyvi Pacific have a length of 200 meters, width of 32.26 meters and height ...
2009-03-16 17:02:28
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