China stimulus: Scrap old ships and build new ones at local [Shipbuilding]
The soon-to-be-launched stimulus package for shipbuilders in China will include a reduction in the ship age limit and tax exemptions to encourage breaking of old ships and building new vessels at local instead of foreign yards. Hebei Ocean Shipping C...
2009-02-05 07:21:52
Ways to maintain top [Shipbuilding]
South Korea, the world’s No. 1 shipbuilding nation, must find measures to keep leading the global shipbuilding industry in the next decade, including developing high-value vessels, a domestic institute said. In a report titled ‘Check of the Co...
2009-02-05 06:45:06
HOSCO requests retrieval scheme for marine industry [Shipbuilding]
China’s biggest private shipping company and the third biggest shipping company, HOSCO Group CEO Gao Yanming has recently submitted a proposal for marine industry revitalization plan to the Ministry of Transport (MOT) of the People’s Republic of ...
2009-02-04 18:27:55
World’s Top 5 Shipbuilders: New Ranking [Shipbuilding]
South Korea's Daewoo Shipbuilding & Marine Engineering and STX Shipbuilding are now the world's second and fourth largest shipyards each in terms of order backlog, a London-based market researcher said Tuesday. STX Shipbuilding had an order backlog o...
2009-02-04 16:14:00
Turkish shipbuilders to see stimulus in 2 weeks [Shipbuilding]
Turkey's shipbuilding industry, which has grown exponentially in the last six years with orders coming in from around the world, has sustained heavy damage from a drop in global demand, but a new stimulus package that aims to turn things around will ...
2009-02-04 15:37:09
CSSC plans 9.6Mil dwt Newbuilding: Shanghai [Shipbuilding]
The shipbuilding volume of Shanghai-based shipbuilders under China State Shipbuilding Corporation (CSSC) is expected to record at 9.6 million dwt this year. According to the report, CSSC’s general manager, Tan Zuojun has recently revealed 2009 ship...
2009-02-04 12:17:45
Chinese get stimulus package [Shipbuilding]
Chinese shipbuilders are set to receive a boost from a financial stimulus package being put together by the government. The stimulus package, hammered out by the country’s Ministry of Industry and Information Technology, National Development and...
2009-02-04 11:40:50
Battle for territory: European yards fight their corner [Shipbuilding]
Specialist European facilities are preparing to face increased risks as bigger players move into their sectors. Niche shipyards building offshore vessels, dredgers and other high-value ships could face further challenges as mainstream yards look t...
2009-02-04 11:32:02
Wartsila expects $1bn deals to fail [Equipment]
Engine manufacturer Wartsila has warned of an additional $1bn in newbuilding cancellations after shipping markets “came to a complete standstill” at the end of 2008. The Finnish giant saw orders slump “markedly” from the first half to the sec...
2009-02-04 11:19:01
German shipbuilders suffer from order slump [Shipbuilding]
German shipbuilders saw the lowest order intake since 2001 last year. The German shipbuilders’ association VSM said that yards received orders for just 46 vessels worth €2.9bn ($3.8bn) in 2008, compared to 79 orders in 2007. “The orderbook h...
2009-02-04 11:11:40
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