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Three yards vie for tankers: Transpetro tender
[Shipbuilding]
Three Brazilian shipyards are competing in a tender to build a trio of bunkering tankers for Transpetro, Petrobras' logistics arm revealed. The tankers are part of the second phase of Transpetro's $5bn, 49-vessel fleet expansion program. Two Rio d...
2009-03-12 08:19:22
Danaos reveals delay of five newbuildings
[Shipping]
Danaos Corp suspended its dividend Wednesday, as the boxship owner reported a drop in quarterly earnings and revealed the delay of five newbuildings. The New York-listed boxship owner also said it has secured waivers for loan covenants after falli...
2009-03-12 08:14:27
Baosteel lowers prices of shipbuilding steel again
[Equipment]
According to local Chinese media sources, it appears that Baosteel Group Corp., the country's largest steel company, will lower prices again on shipbuilding steel beginning with deliveries made this month. It appears that it will lower the price per ...
2009-03-12 08:09:50
Bulker operators foraying into new areas
[Shipping]
Shipping companies around the world that specialize in drybulk cargo are becoming more active in their movement toward new areas. In stark contrast with the record-high drybulk market before the financial crisis, the market has now reached an all-tim...
2009-03-12 08:04:26
Imabari plans to deliver 100 ships
[Shipbuilding]
Imabari Shipbuilding built a record-high 91 newbuildings in the whole of 2008, including 22 units of the 28,000-dwt Handysize bulker, one of its main products, and 12 units of the 76,000-dwt Panamax bulker. Imabari posted an increase in newbuilding c...
2009-03-12 07:59:09
China Shipping gears up for LNG debut
[Offshore]
China Shipping Development Co said on Wednesday that it would shortly sign an agreement with a unit of top Chinese oil and gas producer CNPC to set up a $5 million joint venture to ship liquefied natural gas (LNG). China Shipping would account for 90...
2009-03-12 07:51:13
Slump could last 3-5 years: DNV
[Shipping]
As many as 300 of DNV's 1,500 new ship contracts, many of them in Asia, could be cancelled, according to class executives. And the figure could yet go higher. The latest estimates from DNV come as February figures show Chinese exports plunged by arou...
2009-03-12 07:47:07
Zhoushan yard gets financial aid
[Finance]
The biggest shipbuilding enterprise in Zhejiang province, Zhoushan Jinhaiwan Shipyard (JHW), signed a strategic cooperation agreement with the Hangzhou branch of Bohai Bank. The bank will now take part in JHW's daily operations, production and sa...
2009-03-12 07:43:45
Wartsila wins order from Taiwanese
[Equipment]
Wärtsilä has signed a design and propulsion system order with Taiwan's Jong Shyn Shipbuilding for a product chemical tanker. The 6,500 dwt vessel, due for delivery in 2011, is for CPC Corporation (CPC), a Taiwanese state-owned oil company. ...
2009-03-12 07:37:11
STX, Schottel jointly produce rudder propellers
[Equipment]
The South Korean company STX Heavy Industries Co., Ltd. and Schottel will be cooperating in the area of large rudder propeller systems for underwater installation, as used on drilling rigs, for example. Within the framework of a corresponding lice...
2009-03-12 07:29:56
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