China may implement export rebate to support shipbuilding [Shipbuilding]
It is reported that the plan to revive Chinese shipbuilding industry had been handed in to the State Council. The plan emphasizes on credit-strengthening support and ships self-building. It also encourages old vessel owners to place new orders so as ...
2009-02-06 15:33:37
HHIC’s operating profit up more than 300% [Finance]
Hanjin Heavy Industries & Construction of South Korea announced on February 5th in a regulatory filing that its 2008 operating profit increased 340.9% against a year earlier to reach KRW 510.366bn (USD 370m). Revenue rose 166.4% YoY to KRW 3.848tr...
2009-02-06 13:56:06
Delaying the agony: Government Economic Stimulus Plans [General]
Government bailouts and economic stimulus plans are in vogue as countries around the world try to soften the impact of a deepening recession. For ship owners and operators, the opportunities for such emergency funds are low, given the industry’...
2009-02-06 13:19:39
Rescue ailing Shipbuilders: China [Finance]
The Chinese government has commenced work to enact a new law in order to rescue financially strapped shipbuilders. According to local newspapers, the State Council of China (SCC) on Feb. 4 started discussions on a draft bill titled "shipbuilding...
2009-02-06 11:56:58
Rigs anchor in port as oil price falls [Offshore]
The recent fall in oil prices has led to more drilling rigs at anchor in Cromarty Firth, Scotland, and more inquiries for rig repair work. The Cromarty Firth Port Authority said there were three semi-submersible rigs — Transocean’s Arctic ...
2009-02-06 11:05:12
Vietnamese yard launches first dredger [Shipbuilding]
Ben Kien Shipbuilding Industry Company in Vietnam reported that it successfully launched a dredger on January 12th. The dredger, named Elbe, the first of its kind to be built in Vietnam, and has a capacity of 2,800 cublic metres. The dredger is 79...
2009-02-06 08:13:35
Damen to build an offshore patrol ship [Shipbuilding]
Damen Shipyards Gorinchem has signed up to build an offshore patrol ship for the Romanian government. The Netherlands group’s Galati yard in Romania will construct the 6610-type vessel for delivery in September 2010. It will then be based in Con...
2009-02-06 07:53:32
K Line adds to specialised coal carrier fleet [Shipping]
Japanese shipping giant Kawasaki Kisen Kaisha this week launched its newest 88,000 dwt-type special coal carrier, the “Tohoku Maru” (pictured), at Imabari Shipbuilding’s Marugame Shipyard. The 88,159dwt Tohoku Maru is same type as “K” Line...
2009-02-06 07:49:28
Baltic Exchange stresses self regulation standards [General]
The Baltic Exchange has issued its strongest warning yet for members to abide by its centuries-old principles of business conduct during the freight market collapse. Baltic chairman Michael Drayton said that standards must not be allowed to slip desp...
2009-02-06 07:46:51
Rolls-Royce Marine moves global HQ to Asia [General]
Rolls-Royce’s marine business is heading east with its global headquarters moving from London to Singapore. Rolls-Royce’s move reflects the fact that more than 80% of commercial shipbuilding is now in Asia. “Rolls-Royce is a global business...
2009-02-06 07:41:57
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