China stimulus package at hand [Shipbuilding]
China has approved a support package for its struggling shipbuilders calling on banks to step up financing of ships for export. Its state council has also banned the development of new yards and is offering financial support to domestic owners ove...
2009-02-12 07:25:09
Golden Ocean eyes cancellations [Shipbuilding]
John Fredriksen’s Golden Ocean Group is moving to cancel newbuilding contracts as it renegotiates bank loans after a series of breaches in time charters, secondhand purchase contracts and sale and leaseback deals. The disclosure came after sister c...
2009-02-12 07:20:23
Steel prices plummet: Shipbuilding boost [Equipment]
The prices for steel plates South Korean shipbuilders import from overseas steel makers are forecast to fall, with some expected to be halved. This is because South Korea’s major shipbuilders got the inside track in steel negotiations as supply ...
2009-02-12 06:37:52
2009 World & China Newbuilding Order Forecast [Shipbuilding]
Click the image to see clearly.
2009-02-11 12:20:17
Austal releases more JHSV details [Shipbuilding]
Austal has now released some more details of its winning design for the Joint High Speed Vessel. The JHSV Program will provide high speed, shallow draft transportation capability to support the intra-theater maneuver of personnel, supplies and equ...
2009-02-11 11:46:04
Break highest number of ships in 2009 [General]
Even as the shipping companies find it difficult to stay afloat with shrinking export-import business and falling freight rates, the ship breaking industry at Alang in Gujarat seems all set to buck the recessionary trend. About 125 vessels from the i...
2009-02-11 11:37:00
Croatia docks on sale in late Feb or March [Finance]
Croatia hopes to call international tenders for the sale of its ailing shipyards in late February or March, an official source close to the selloff process said on Monday. Sale of country's heavily state-subsidised shipyards, which are on the Adri...
2009-02-11 11:29:34
Losses rose at Hitachi Zosen [Finance]
Japanese shipyard and construction group Hitachi Zosen has seen losses grow in the first nine months of its financial year, but is predicting a profitable fourth quarter. The co-owner of Universal Shipbuilding Corp said it lost JPY 3.62bn ($39.62m...
2009-02-11 11:23:06
Shipbuilding orders to slump 60% [Shipbuilding]
The world’s new shipbuilding orders are forecast to fall by at least 60% this year, and by half in China, said the China Association of the National Shipbuilding Industry. A research report issued by CANSI last Friday said that new shipbuilding...
2009-02-11 09:38:10
STX Pan Ocean in bond bid to raise over $100m [Finance]
STX Pan Ocean is the latest large Far Eastern shipping company looking to raise cash to stave off the effects of the credit crunch and slumping demand. The South Korean diversified shipowner is looking to raise KRW 150bn ($108.45m) from the sale o...
2009-02-11 08:19:09
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