Wadan Yards comes close to bankruptcy [Finance]
Wadan Yards concedes it was in a serious position after exhausting more than EUR 100m ($127m) of its own funds to carry on building ships. In the current economic crisis, commercial banks will only come up with credits provided they are shielded b...
2009-03-10 07:20:04
Jebsen drops orders for 12 bulkers in Vietnam [Shipbuilding]
The Jebsen group of Bergen, Norway has terminated a contract for up to 12 handysize bulkers in Vietnam. Shipowner Bjorn Jebsen said that the project has been put on hold and that there is no longer any contract due to current market conditions. Je...
2009-03-10 07:16:42
Newbuilding price nears historic low [Shipbuilding]
Newbuilding prices tumbled again in January and are set to continue heading south, according to London-based shipbroker Clarkson. Its researchers say the 6.1% drop was the most dramatic for some time. Clarkson's shipbuilding price index fell from ...
2009-03-10 07:13:20
Hanjin inks three Aframaxes [Shipbuilding]
South Korea’s Hanjin Heavy Industries and Construction (HHIC) said Monday it had won a conversion of 2008 orders from a European shipping company. Under the terms of the revised contract, initially inked in summer 2008, HHIC will now build thre...
2009-03-10 07:10:14
Four show interest in C& Heavy [Finance]
Four overseas funds are said to be interested in the acquisition of C& Heavy Industries, South Korean shipbuilder. A source close to C& Heavy creditors said on March 8th, “Four have showed interest so far. Lazard Asia Limited and Mirae Asset Sec...
2009-03-10 06:33:18
Majors would recover in spring [Shipbuilding]
South Korea’s major shipbuilders are expected to report lower revenues in the first quarter of this year against the fourth quarter 2008, reflecting global economic downturn. But their Q2 business results are forecast to rise, recovering gradually....
2009-03-09 15:07:27
Chinese SBQ plate market heavily oversupplied [Equipment]
It is reported that during “China Shipbuilding Steel Supply and Demand Summit” held recently in Shanghai, attendees all believed the shipbuilding steel would see severe over supply this year as shipyard's orders decline sharply and new shipbuildi...
2009-03-09 13:26:42
Greenship wins order for ballast water system [Equipment]
Dutch-based Greenship recently received an order for two SEDINOX ballast water management systems. These systems will be installed on board vessels owned by Dutch inland and coastal chemical tanker concern Chemgas Shipping. Chemgas has been using the...
2009-03-09 13:21:27
China to import more LNG from Qatar [Shipping]
A senior official with China's largest state-own gas company said on Saturday that China planned to import more liquefied natural gas (LNG) from Qatar in the coming years to feed the huge demand of domestic market. Fu Chengyu, general manager of ...
2009-03-09 13:16:48
BV's fuel cell guidelines [Equipment]
French-based classification society has developed comprehensive new guidelines covering the safe application of fuel cells on ships which, it claims, could have important environmental and commercial advantages for shipowners and operators. BV pro...
2009-03-09 13:13:56
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