Europe yards face collapse [Shipbuilding]
Europe’s yards and marine equipment industries face being wiped out if credit markets do not ease “soon,” the European Commission has warned. The large capital requirements of the shipbuilding industry and the lack of affordable finance hav...
2009-02-16 06:54:58
Yards turn down boxship owners [Shipbuilding]
South Korean shipyards are refusing to bow to pressure from hardpressed containership owners to cancel orders or reduce prices, and are only very reluctantly agreeing to postpone some deliveries. That is the message emerging after several weeks o...
2009-02-16 06:50:36
Korea looks overseas to sell DSME [Shipbuilding]
THE South Korean government is looking to sell its stakes in various industries including Daewoo Shipbuilding and Marine Engineering to overseas sovereign wealth funds. Following the collapse of Hanwha Group’s bid for the country’s third lar...
2009-02-14 16:05:19
PM points to importance of shipbuilding: Vietnam [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 Viet Nam Ship Building Industry...
2009-02-13 17:35:58
NOL & Zim settle: delay and cut [Shipping]
Another batch of liner operators are negotiating delays to their newbuilding and charter commitments. Neptune Orient Lines (NOL) has emerged as the latest to successfully delay deliveries, while Israeli operator Zim is also scaling back its massiv...
2009-02-13 15:57:02
Ship values rise [Shipping]
Strengthening bulker freight rates continue to have a positive knock-on effect on secondhand vessel values. Capesize values are on the risePrices for a five-year-old capesize have risen by $4.3m to $48.5m in the past week, according to the latest Bal...
2009-02-13 15:51:12
Stagnating NB shift offshore ships [Offshore]
With the stagnation of the newbuilding market, the offshore ship business, which had remained mainly out of the spotlight until now, is gathering attention. Universal Shipbuilding Corp.(USC) is planning on cultivating its offshore ship division to be...
2009-02-13 13:47:32
Chinese to freeze shipyards expansion [Finance]
China's State Council today agreed a stimulus plan for shipbuilding, but said that shipyards should suspend construction of new docks and the expansion of slipways for three years to facilitate industrial restructuring. The State Council adopted the ...
2009-02-13 13:42:45
Japanese jointly study commercialization of LNG-FPSO [Offshore]
Fifteen Japanese companies will jointly study the commercialization and safety of floating LNG production bases over a period of six months in the future. The study will be led by Japan Oil, Gas and Metals National Corp. (JOGMEC) and joined by manuf...
2009-02-13 13:21:46
Mitsui to expand ship repair dock [Equipment]
Mitsui Engineering & Shipbuilding (MES) announced on Feb. 12 that its ship repair subsidiary MES Yura, based in Wakayama Prefecture, will be spending about Y1 billion to prolong the length of its repair dock by 55 meters to 405 meters. When the work...
2009-02-13 13:18:22
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