Newbuilding orders came to a halt [Shipbuilding]
Virtually all newbuilding order activity has plunged to levels close to or even zero, apart from some niche vessel types. The latest monthly report by ship broker George Moundreas indicates that this trend is shaping the future state of the supply/de...
2009-03-04 11:12:31
Deep Sea cancels AHTS newbuilding [Offshore]
Odd Brevik’s Deep Sea Supply has axed an anchor handling tug supply (AHTS) newbuilding following substantial delivery delays. It has cancelled the 140-tbp Sea Hawk 1 at Jaya Holdings and is not ruling out further cuts to its eight vessel orderbo...
2009-03-04 07:38:31
Hitachi Zosen to absorb diesel subsidiary [Equipment]
On April 1, Hitachi Zosen Corp. will newly establish a "machinery & infrastructure headquarters", and absorb its marine diesel engine subsidiary Hitachi Zosen Diesel & Engineering Co. (HZDE) into its "power mover/process equipment division" under the...
2009-03-04 07:31:35
No orders for HHI: 4 months in a row [Shipbuilding]
Even the world's largest shipyard continues to have no newbuilding order receipts. South Korean shipbuilder Hyundai Heavy Industries (HHI) successfully booked orders for marine engines and offshore equipment in January 2009, but failed to win orders ...
2009-03-04 07:26:59
USC hopes to integrate with IHIMU [Shipbuilding]
Shinjiro Mishima, president of Universal Shipbuilding Corp. (USC), told the press on March 2 that integration with IHI Marine United Inc. (IHIMU) undoubtedly has merits and he hopes an agreement will be reached, stressing his forward-looking stance t...
2009-03-04 07:21:30
Slew of new tankers will push rates down [Shipping]
Freight rates for oil tankers are expected to come under significant pressure this year as nearly 300 new oil tankers, or 47 million deadweight tons of shipping capacity, are due for delivery globally, DVB Bank S.E. said Monday. Very Large Crude Carr...
2009-03-04 07:16:45
MOL puts the breaks on fleet expansion [Shipping]
Mitsui O.S.K. Lines, the world’s largest operator of iron-ore vessels, halted new orders for the ships as demand for steel drops. The company is scrapping up to seven iron-ore carriers and may not renew long-term charter contracts, Masafumi Yasuoka...
2009-03-04 07:12:59
DryShips reports on S&P woes [General]
DryShips Inc. recently issued an update on how it is dealing with three recent sales and purchase headaches--by selling one ship at about half the original agreed price, canceling another deal and collecting a $9 million penalty and entering arbitrat...
2009-03-04 07:09:54
Last big ship from Lindo? [Shipbuilding]
On Saturday, February 28, 2009 the Maersk Group's Odense Steel Shipyard named its latest newbuilding, MATHILDE MAERSK, a 7,000 TEU containership for the A.P. Moller - Maersk Group. MATHILDE MAERSK is the last ship in a series of six -- and could w...
2009-03-04 07:05:41
OSG trims Bender ATB order [Shipbuilding]
Reporting results for the fourth quarter ended December 31, 2008 that saw a net loss of $53.5 million, OSG America L.P. revealed that its ATB newbuild program at Bender is being reduced from six units to two. "During the fourth quarter of 2008 and in...
2009-03-04 07:03:23
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