Political issues surround probe into HHIC safety issue [General]
The Philippines senate has been cautioned to be mindful of future foreign investment ahead of its investigation into safety practices at Hanjin Heavy Industries and Construction’s shipyard in Subic Bay. The warning follows the recent deaths of thre...
2009-02-06 07:36:55
Wadan's German yards win $231m funding [Finance]
The future of the Wadan’s yards in Wismar and Rostock-Warnemünde is secure after a bank consortium of Deutsche Bank and KfW Ipex agreed a loan totalling €180m ($231m) to the yards. The two yards were close to bankruptcy last year after faili...
2009-02-06 07:29:43
Shipbuilding recession will last longer than financial crisi [Shipbuilding]
Shipbuilding industry's profits have been falling in pace with the continuous market depression. At present, second-hand ship prices have halved from its peak, the price of new vessels are expected to be 20 ~ 30% lower. At this point, the ship pri...
2009-02-06 06:58:07
DSME ‘5K’ movement: Cost reduction, ‘OK’ [General]
Daewoo Shipbuilding & Marine Engineering (DSME) launched a cost-reduction movement called ‘5K’. DSME said it plans to increase the amount of cost reduction by around KRW 500bn or KRW 5,000 (5K) eok (hundred million) (USD 361m) to reach KRW 624...
2009-02-06 06:42:46
Time to widen the gap [Shipbuilding]
South Korea’s shipbuilding industry is outdoing all competitors which have been in hot pursuit of it. China and Japan are moving backward and European shipbuilders which have excelled South Korean yards in terms of technology are also increasing...
2009-02-06 06:38:10
Chinese shipbuilding in need of stimulus [Shipbuilding]
In recent years, with the apparent improvement of industrial manufacturing level and the cost advantage, Chinese shipbuilding industry maintained rapid development momentum. The current world shipbuilding market is formed by the basic structure of th...
2009-02-05 16:00:41
Steel plate prices to fall drastically: Sino-Korean deal [Equipment]
According to information made available in Tokyo, it is likely that China's integrated steelmakers will enter the final stages of negotiations in the first week of February on their deals of ship plate exports to South Korea's various shipbuilding co...
2009-02-05 14:44:09
S. Korea to aid firms under debt workout [Finance]
The South Korean government decided to help local firms under debt workout programs by providing guarantees for overseas contracts and clarifying guidelines on distributing funds to troubled firms, the country's financial watchdog said on Wednesday. ...
2009-02-05 14:29:40
Shipowners turn to Maersk for advice on ship breaking [Shipping]
AP Moller-Maersk is taking an increasingly active role in the ship demolition business by offering consultation services to shipowners, writes Liz McCarthy. The Danish shipping group is assisting six owners, who are spread around the world, said s...
2009-02-05 14:15:18
BOC’s advance payment R/G came to USD 18bn [Finance]
According to the data released by Bank of China (BOC) on February 4th, up to September 2008, BOC has opened down payment refund guarantees of USD 18bn for Chinese shipbuilders and vessel trade agencies in 48 countries and regions.
2009-02-05 12:50:37
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