Guangzhou shipyard Q4 profit falls 49% [Finance]
Guangzhou Shipyard International, the sole Hong Kong-listed shipbuilder, posted a 49 percent drop in fourth-quarter profit because of higher labor and inventory costs. Net income fell to 134 million yuan ($20 million) for the three months ended Dec. ...
2009-03-13 07:04:20
Wartsila teams up with Japanese [Equipment]
Japan’s IHI Marine United and Wärtsilä of Finland have signed a co-operation agreement that will herald a marked increase in the use of an energy efficient Contra-Rotating Propeller system. IHI Marine spokesman Dave Iwamoto said: “Under...
2009-03-13 06:58:25
Orders flatlining in Feb, down 98.4% [Shipbuilding]
Shipbuilding orders received in February worldwide fell to 193,000 dead weight tonnes (dwt), down 50% month-on-month and by 98.4% year-on-year. Governments across east Asia are scrambling to find financial solutions for the potentially empty swat...
2009-03-13 06:52:13
Daewoo to issue corporate bond [Finance]
South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) is reportedly planning to issue corporate bonds, following Hanjin Heavy Industries & Construction (HHIC) and Samsung Heavy Industries (SHI). According to industry sources, DSME is doi...
2009-03-13 06:09:45
“STX Offshore & Shipbuilding”: New name for STX Shipbuil... [Offshore]
South Korea’s STX Shipbuilding changes its name to “STX Offshore and Shipbuilding”. The shipbuilder announced Thursday in a regulatory filing that it will lay a bill of modifying articles of association before the general meeting of stockhol...
2009-03-12 16:54:03
Liquidity position to improve in 2H [Finance]
Liquidity position of shipbuilders in South Korea, which have worsened due to order drought since last October, is forecast to improve from the second half of this year as new orders are expected to be placed when oil field development projects get s...
2009-03-12 13:22:11
MacGREGOR gets order for self-unloading systems [Equipment]
Finland-based MacGREGOR has received an order for two bulk cement selfunloading systems from Taiheiyo Engineering Corporation in Japan. The cement selfunloading systems will be installed on each of two cement carriers designed for coastal cement d...
2009-03-12 11:14:26
Cosco, benefiting from China stimulus [Shipping]
As global shipping companies struggle amid slumping international trade, China Ocean Shipping Co. is flush with cash, and one of its top leaders says it stands poised to announce record revenue for 2008. But Cosco Vice President Zhang Fusheng (pic...
2009-03-12 08:44:05
Aker awarded drilling riser contract by Daewoo [Equipment]
Aker Solutions has been awarded another contract for the delivery of a deepwater drilling riser system to Daewoo Shipbuilding & Marine Engineering (DSME). Contract value is approximately USD 36.5 million. This is the fifth deepwater drilling riser sy...
2009-03-12 08:30:33
Nok Bong denies reports of liquidation threat [Finance]
Nok Bong Shipbuilding of South Korea has rubbished reports that its leading bank, Shinhan, has proposed the yard go into liquidation. Capt HK Lee of Nok Bong says Shinhan Bank and Dongbu Insurance are currently working on how to help out the compa...
2009-03-12 08:27:41
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