Time to focus on R&D [General]
Cost savings are dominating corporate agendas, but cutting back on research and development could result in businesses being ill-prepared for the upturn. When the economy was good, the industry was too busy to look at implementing many innovative ...
2009-03-12 07:26:04
Brazilian grain boosts Atlantic panamaxes [Shipping]
Panamax rates on the fronthaul route have reached $30,000 per day as the start of the Brazilian grain season takes available tonnage out of an already tight market. “The grain season has taken off, so tonnage in the Atlantic is tight for early p...
2009-03-12 07:19:03
Gazprom, Rosneft ponder ordering ships [Shipbuilding]
Russian energy majors Gazprom and Rosneft plan to order 307 ships from the recently established United Shipbuilding Corporation until 2030, Prime Minister Vladimir Putin said during a meeting on the development of non-military sea equipment in St. Pe...
2009-03-12 07:15:00
ThyssenKrupp stops work on four boxships [Shipbuilding]
Germany’s largest shipbuilding group, ThyssenKrupp Marine Systems (TKMS), is stopping the construction of four containerships. TKMS said it had been informed by its client that the banks would not finance the construction of the 3,400 teu vesse...
2009-03-12 07:09:56
Doubts on mass cancellations [Shipbuilding]
One of Greece’s top shipbrokers has cast doubts on the ability of shipowners to achieve mass cancellations of newbuilding orders. Taking his own country’s orderbook as an example, Allied Shipbroking director George Daskalakis said there had b...
2009-03-12 07:04:40
New paradigm looming: Specialized vessels [Shipbuilding]
The silence in newbuilding ordering activity worldwide, which began since the fourth quarter of last year, is likely to continue for a long time. Global newbuilding market beleaguered by order drought saw just a few orders being placed in China wh...
2009-03-12 06:13:07
Improve safety: Turkish shipyards [Shipbuilding]
The European Metal Workers Federation (EMF) called on major Turkish shipping and shipyard owners, who met Tuesday at a forum in Istanbul, to ensure that profits are not placed ahead of the health and safety of workers, as fatal accidents in the count...
2009-03-11 16:38:28
Russia accelerates overhauling shipbuilding [Shipbuilding]
Russian shipyards are inefficient and in need of “comprehensive modernization”, Russian PM Vladimir Putin said in a meeting last week. He now calls for the construction of brand new shipyards, which are to help Russia meet demands within shipp...
2009-03-11 16:32:42
Beijing urged to use tankers for oil storage [General]
China Shipping (Group) Co President Li Shaode (pictured) told Reuters on Monday that he had proposed that the government use some of its foreign exchange reserves on floating oil storage because the onshore tanks were full. "The four onshore reser...
2009-03-11 16:23:34
Lindo starts 2009 with a deficit of $95m [Finance]
Lindo shipyard (Odense Steel Shipyard), which recently has deleted two bulk carriers of the already small order book, entered 2009 with a deficit of DKK 562.3 million ($95m). A clear improvement compared to the DKK 827 million deficit last year - ...
2009-03-11 16:17:23
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