Jinglu starts ‘Phase 2’ yard expansion [Shipbuilding]
Penglai Zhongbai Jinglu Ship Industry in China's Shandong province began Phase 2 work on expansion of its yard in late February 2009, a local newspaper reported. The builder will invest 720 million yuan ($105m) to construct new facilities including a...
2009-03-10 08:02:19
Hyundai to build wind power generators [General]
Hyundai Heavy Industries, the world’s largest shipbuilder, has further diversified with the signing of a government contract to build 10 wind power generators. South Korea’s Ministry of Knowledge Economy said that it was looking to reduce the...
2009-03-10 07:55:43
Target Marine awaits word of C& Heavy fate [General]
Prominent Greek shipping company Target Marine is among the parties most interested to hear the fate of insolvent South Korean shipbuilder C& Heavy Industries, which is due to be clarified at the end of this week. The Piraeus-based dry bulk and conta...
2009-03-10 07:52:14
Spanish reschedules deliveries to avoid cancellations [Shipbuilding]
Spanish shipyard Factoria Vulcano intends to swap two vessel deliveries to Norwegian oil survey company Petroleum Geo-Services to prevent both being cancelled The yard told PGS subsidiary Arrow Seismic Invest that it plans to deliver hull number ...
2009-03-10 07:49:10
Maersk Line to lay up 25 boxships [Shipping]
As many as 25 containerships could be taken out of service by Maersk Line as the market leader grapples with a collapse in demand at a time of fast rising capacity and impoverished freight rates. Maersk could withdraw vessels with a combined capa...
2009-03-10 07:44:52
Hosco to scrap ten bulkers [Shipping]
Chinese dry bulk vessel owner Hebei Ocean Shipping said it would scrap more than 10 older capesize and panamax vessels and replace them with newbuilding tonnage by the end of this year. Chairman Gao Yanming said that all shipowners in the dry bulk sh...
2009-03-10 07:42:13
Silversea to ask price cut: Fincantieri newbuilding [Shipbuilding]
Luxury cruiseship company Silversea remains intent on exercising its option for a second 36,000 gt vessel at Fincantieri, but it will be looking for a sizeable price cut before it confirms the order. Interviewed at company headquarters in Monaco, chi...
2009-03-10 07:39:11
Samsung C&T into shiprepair yard in Angola [General]
Samsung Group's key affiliate Samsung C&T Corporation has jumped into the shipyard repairing business in Angola. In April last year, Samsung C&T spent around 5 billion won worth of stake to acquire 40 percent of Lobinov, a state-run repair shipyard l...
2009-03-10 07:34:32
Russia builds 1,000 civilian ships in 20 years [Shipbuilding]
Russia's United Shipbuilding Corporation will build more than 1,000 civilian vessels in the next 20 years, the Russian prime minister said on Friday. Vladimir Putin chaired a meeting in St. Petersburg on the development of the shipbuilding indust...
2009-03-10 07:25:39
Billions in aid to avert crisis [Finance]
Governments around the world are preparing to bail out their beleaguered shipping and shipbuilding industries. The spectre of government aid for shipping and shipbuilding is on the rise, with billions of dollars lined up to fund newbuilding projec...
2009-03-10 07:22:51
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