Samsung slumps in face of delivery delays [Finance]
The share price of Samsung Heavy Industries slumped 10.2% on Friday as news leaked into the market that a major customer will seek delays to the delivery of its vessels. Israel’s Zim Integrated Shipping Services will visit SHI’s offices week c...
2009-02-23 07:32:28
KDB rejects Japanese approach to shipbuilding [Shipbuilding]
A Korean research unit has recommended ailing emerging yards downgrade their business to hull block production. Korea development bank affiliate KDB Research Institute has issued a report on the country’s shipbuilding strategy amidst the global eco...
2009-02-23 07:29:21
Cosco boss hails stimulus plans [Shipping]
Stimulus plans launched by the Chinese, US and European governments over the past few months are beginning to buoy demand and lift the troubled dry bulk market, the head of China’s largest shipping company said. But Wei Jiafu, China Ocean Shipping ...
2009-02-23 07:26:56
Euroceanica inks aframax pair at SPP [Shipbuilding]
UK-based bulker and chemical-tanker owner Euroceanica is moving into the aframax-tanker sector with an order for a pair of 113,000-dwt units at SPP Shipbuilding of South Korea. Informed sources say the company signed up for the duo last summer at aro...
2009-02-23 07:22:54
Still alive Tsuji : Clippers' bulkers [Shipbuilding]
Denmark's Clipper Group may still take delivery of some of its 30 handysize bulkers ordered at Tsuji Heavy Industries if the Chinese government's shipyard-stimulus package keeps the facility in business. Clipper began ordering the vessels almost thre...
2009-02-23 07:20:20
New Delhi snubs domestic owners [Shipping]
India's shipowners are on their own after the government ignored their pleas for a financial aid package to help them through these critical economic times. It is a disappointment for owners after their hopes were raised four years ago. The much-t...
2009-02-23 07:17:11
Aid package evokes fears [Shipbuilding]
Rivals are afraid Beijing's stimulus package will blot the playing field. Concern is mounting that China's stimulus package for the shipbuilding industry is set to keep defunct yards afloat and prolong the recession. The package, which amounts to ...
2009-02-23 07:14:04
Huarun Dadong halts dock plans [Shipbuilding]
A Chinese yard has axed a dry-dock project in the wake of a state ban on capacity expansion. A Chinese shipyard has dropped plans to build a 300,000-dwt dry dock that would have been dedicated to shiprepair. Huarun Dadong Dockyard has stopped the ...
2009-02-23 07:11:41
Turk orders overseas in cash trouble [Finance]
Up to 50% of orders placed by Turkish owners abroad may be without financing. About half of the newbuilding orders placed by Turkish shipping groups at yards outside the country may be without preconstruction or post-construction financing. Turkis...
2009-02-23 07:07:52
Turkish yards biting nails as orders fade [Shipbuilding]
Turkish shipyards, which have ballooned in number from just 37 in 2003 to over 130 today, are seeing orders slip between their fingers as they wait for government support. Metin Kalkavan, head of the Turkish Chamber of Shipping, told Turkish daily Du...
2009-02-23 07:03:19
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