Vietnam’s shipyards: Surviving the global downturn [Shipbuilding]
Reducing production delays and ensuring quality are seen as key Vietnamese shipbuilding has attracted a lot of attention over the last few years for taking advantage of the tight capacity in major shipbuilding nations and breaking into the interna...
2009-03-03 13:15:39
Chinese yield to owners’ requests: Delivery delay [Shipbuilding]
Chinese shipyards will have little chance to fill empty slots after agreeing to delay deliveries, brokers have said. Last week, it was reported that delivery renegotiations with South Korean shipyards were being hampered by the weakness of the won...
2009-03-03 13:04:03
Dae Sun delays delivery of a nuclear waste carrier [Shipbuilding]
On February 27th, South Korea’s Dae Sun Shipbuilding & Engineering announced in a regulatory filing that the delivery date of a low/medium-level radioactive waste carrier was delayed to April 15th. The shipbuilder said, “We reached an agreement w...
2009-03-03 11:47:19
Mitsui to seek massive price cut on ship plate [Equipment]
Mitsui Engineering & Shipbuilding Co., Japan’s second-largest shipbuilder, will ask steelmakers to cut plate prices to a four-year low as demand weakens. The company will seek cuts of 30 percent to 40 percent for the fiscal first half starting Apri...
2009-03-03 11:13:25
Rescue Plans: Worldwide [Shipbuilding]
The move is spreading worldwide for governments to devise and enforce financial support measures to their shipbuilding industry. The measures being mulled are not necessarily conventional direct subsidies to be handed out by governments to shipya...
2009-03-03 07:42:35
European banks slash ship financing [Finance]
European-affiliated banks and financial institutions are moving to drastically curtail ship-financing operations. The move is part of business restructuring triggered by the worsening business performance. One representative example of this move is m...
2009-03-03 07:33:07
Posco aims for profit despite output cuts [Equipment]
Recently appointed Posco ceo Chung Joon Yang has stated that the steel producer is “confident” of turning a profit “with only 2m tons of output cuts,” (i.e. a 6% reduction to the previous year’s production) and is considering mergers and ac...
2009-03-03 07:27:38
Fincantieri floats Silver Spirit [Shipbuilding]
Fincantieri may be having trouble securing new orders, but its Italian yards at least have work for the immediate future. In Ancona on Friday, the company floated out Silversea’s latest luxury cruiseship, Silver Spirit, at a ceremony at the yar...
2009-03-03 07:24:27
Candover writes off Ferretti stake [Finance]
Leading private equity fund Candover revealed yesterday that it had written off its majority shareholding in Italian yacht builder Ferretti for £42.7m ($60m) as the economic crisis cuts a swathe through the luxury yacht market. Candover signall...
2009-03-03 07:21:28
JES into red [Finance]
Chniese shipbuilder JES International fell into the red in the final quarter of 2008, when it was hit by higher costs. Singapore-listed JES reported a fourth quarter net loss of Yuan44m which it blamed primarily on higher productions costs which ...
2009-03-03 07:16:11
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