Cochin launches small ship division [Shipbuilding]
The newly commissioned small ship division (SSD) of India’s government-owned Cochin Shipyard Ltd. (CSL) expects to generate annual revenues of Rs5bn ($99m). The revenue will allow the yard to take on the concurrent construction of commercial sh...
2009-03-04 06:59:18
Small US shipyards queue up for aid [Shipbuilding]
Small shipyards in the US have been asked to queue up for their share of stimulus cash pledged by President Barack Obama. The US Maritime Administration has been authorised to disburse $100m in 2009, under the Small Shipyards Grant Programme fund...
2009-03-04 06:50:50
Seaspan delays boxship newbuildings [General]
Seaspan Corp has pushed back deliveries in its newbuilding program, with the company potentially receiving as few as half of the vessels slated for this year, the boxship owner's boss said Tuesday. Chief executive Gerry Wang says the company expects ...
2009-03-04 06:46:00
Russian-UK bilateral shipbuilding talks [Shipbuilding]
With major changes underway in the Russian shipbuilding industry, where up to 1400 vessels and offshore platforms are to be built by 2020, its leaders are planning a visit to the UK. Mr Vladimir Alexandrov, Director General of the Admiralty Shipyard...
2009-03-04 06:37:04
Samsung expanding China base [Shipbuilding]
South Korea’s Samsung Heavy Industries (SHI) is expanding its ship-block construction base in China. In late February, the shipbuilder met with local shipyard design technician team in China and finalized the “Phase 3” ship block factory co...
2009-03-04 05:57:41
Liners lay-ups 25% in 2011 [Shipping]
One quarter of the world’s containership fleet will be in lay-up by 2011 and freight rates will not pick up significantly until 2014, Claus-Peter Offen, one of Germany’s largest shipowners, has forecast. “About 1m teu is already idle. This nu...
2009-03-03 14:55:34
Shipping financier RBS pulls back [Finance]
Royal Bank of Scotland (RBS), one of the world’s top shipping financiers, faces a huge cutback in its lending business as a consequence of moves to restructure the state-controlled group. Early indications point to lending being reduced from $30bn ...
2009-03-03 13:48:17
Vale grabs capes in S&P market [Shipping]
Brazilian miner Vale is being identified as the buyer of three large bulkers in transactions totalling $55m. Sale-and-purchase brokers report Friday that the vessels snapped up by the company include two units that are more than 20 years old. Amon...
2009-03-03 13:36:44
Demolition rates rise despite raft of bulkers [General]
The steady march of bulk carriers to the ship graveyards of the Indian sub-continent continued unabated during the final week of February. It was therefore surprising to see offers for demolition tonnage continue on their northward path. Despite t...
2009-03-03 13:26:39
AOS finishes first contract [General]
ASRY Offshore Services (AOS), the recently established offshoot of Bahrain-based ship repair and maintenance group, ASRY, has successfully completed its first contract, the upgrading and repair work of a jack-up rig. The rig, Hercules 170, arrived at...
2009-03-03 13:20:45
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