Greek axes capes: Hyundai [Shipbuilding]
Greek owner Marmaras Navigation has cancelled two capesize newbuildings ordered in September 2008, Lloyd’s List reported on February 19th. The pair was among the last reported capesizes ordered before the market crash in September. The contract...
2009-02-20 07:13:00
Toward high-tech industry [Shipbuilding]
As shipbuilding industry is facing the worst ever crisis amid global economic recession, industry experts say development of high value-added ships is the key for the industry to ride out the storm. To that end, South Korean shipbuilders say they ...
2009-02-20 06:12:23
Steel prices recovery may come at year end [Equipment]
It is reported that China's steel prices have reversed the nine straight months uptrend since last year end and stepped downward course since last week with prices falling CNY 200 per tonne the most. And yesterday, prices for flats and wire rod drop ...
2009-02-19 14:17:07
Canadian shipbuilders 'left in the doldrums' [Shipbuilding]
Canada's shipbuilders have been told there won't be a stimulus package to jump-start jobs in the industry despite promises from the federal government just several months ago. There is an estimated $40 billion to $60 billion worth of future work in t...
2009-02-19 14:11:57
Tanker downturn could last until 2011 [Shipping]
Concorida Maritime, the Swedish tanker operator, says the tanker markets could be facing a downwards spiral until 2011, but says the time is right for further consolidation as secondhand ship prices continue to drop. The company, part-owned by the Go...
2009-02-19 14:03:14
Flagless vessel may undermine scrapping regulation [General]
Fresh doubts have emerged over the effectiveness and timing of the International Maritime Organization’s planned global ship recycling convention. Cash buyers and the world’s main shipbreakers could easilly circumvent the new regulations to avoid...
2009-02-19 13:53:53
Japan's steel output hits 40-year low [Equipment]
Japan's steel output has dropped to its lowest level since the late 1960s. About 60 per cent of Japan's iron ore is imported from Australia and in recent months Japanese steel-makers have been slashing production to cope with a massive fall in demand...
2009-02-19 13:33:11
Samsung-Russia sign MOU [Shipbuilding]
Samsung Heavy Industries of South Korea on February 19th signed a memorandum of understanding with Russia for the cooperation for Russian shipbuilding industry’s modernization, after a naming ceremony for an icebreaking tanker held in Samsung Heavy...
2009-02-19 12:21:42
India set to revive subsidy [Finance]
The Indian government is all set to revive the subsidy scheme for shipbuilding companies such as ABG Shipyard, Bharati Shipyard, Hindustan Shipyard and Pipavav Shipyard, where a part of the cost of manufacturing the ship is reimbursed at the point of...
2009-02-19 09:46:50
China-Korean SBQ plate deal [Equipment]
It is reported that China's integrated steelmakers have entered the final stages of negotiations on their deals of ship plate exports to South Korea's various shipbuilding companies for shipments in the April-June quarter of 2009. Speculation is aflo...
2009-02-19 09:37:01
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