Bangladesh: Shipbuilding likely to get 5-yr tax holiday faci... [Shipbuilding]
The government is set to declare a five-year tax-holiday benefit for the booming shipbuilding industry to transform the labour intensive sector into a major export earner, officials said Saturday. "We've decided in principle that the emerging shi...
2009-02-16 10:56:40
No slowdown in Hamburg shipyard [General]
With economic doom in every headline, export-led businesses here are preparing for the end. Hamburg shipyard worker Sebastian Kerzel says he and his colleagues are working flat out. "Since the economic crisis began, we've been really busy. New orders...
2009-02-16 10:50:56
Tsuneishi to expand Cebu plant [Shipbuilding]
Japanese shipbuilder Tsuneishi Heavy Industries (Cebu), Inc. will be spending P11 billion to expand its local facilities at its West Cebu Industrial Park in Balamban, Cebu. The expansion, which requires an additional 90 hectares of land, will also em...
2009-02-16 10:14:27
HSH unveils E3bn net loss [Finance]
HSH Nordbank, the world’s largest ship financing bank, has reported a net loss of €2.8bn ($3.6bn) for 2008. The amount includes impairments of some some €1.6bn on its credit investment portfolio and further writedowns of €900m, which beca...
2009-02-16 10:07:20
STX to sell stakes in STX Europe to recover cost [Finance]
It is reported that STX Shipbuilding is planning to sell part of its stake in STX Europe in order to recover some of the cost of the takeover. It may be noted that STX Shipbuilding acquired Norwegian group Aker Yards in 2007 for USD 1 billion and lau...
2009-02-16 10:06:10
Kamsarmax newbuilding resale reflects ship value fall [Finance]
A kamsarmax newbuilding nearing completion at Oshima Shipbuilding has been sold for between $35m and $36m, brokers report Friday. Buyers of the vessel, which is due for March 2009 delivery, are undisclosed. The seller of the 82,000-dwt bulker is n...
2009-02-16 07:16:35
Hanoi follows Beijing: Stimulus package for shipbuilding [Shipbuilding]
Priority would be given to the ship building industry - a key sector in the country's modernisation and industrialisation programme, said Prime Minister Nguyen Tan Dung. The PM was speaking at a meeting with Vietnam Ship Building Industry Group (V...
2009-02-16 07:12:09
Nordic American earmarks $107m for ship acquisitions [Shipping]
Suezmax specialist Nordic American Tanker Shipping has a warchest of $107m in cash and undrawn $500m credit facility to fuel its desire for acquisitions. The Bermuda-based owner has acquisitions under review to boost its fleet of tankers from 12 by t...
2009-02-16 07:08:17
Ailing JJ Sietas faces management change [General]
German shipyard JJ Sietas is facing a change to its management as it struggles to find finance to fund construction costs. Hinrich Sietas, owner and managing director of the company, is handing over to Rüdiger Fuchs, who will take over the ma...
2009-02-16 07:03:17
14 bids received for Malta Shipyards [Finance]
Fourteen bids were received for the privatisation of the Malta Shipyards, when the international call for offers closed. Although the government had previously received 52 expressions of interest from prospective bidders, the Privatisation Unit only ...
2009-02-16 06:58:53
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