Rig Building Faltering [Offshore]
The year 2008 kicked off with the strongest offshore rig fleet utilization seen in years and oil prices greater than US$100/barrel, giving drilling contractors ample excuse to continue the surge in rig construction. However, the onset in mid-2008 ...
2009-02-04 06:14:36
Fujian Province showed rapid growth in vessel exports [Shipbuilding]
According to the custom’s statistics, Fujian province’s 2008 total vessel exports amounted to USD 1.23bn with 1.685 million units, an 86.6% and 110% increase against 2007 respectively. The main features of exports are : 1. Processing trade ex...
2009-02-03 19:07:44
China occupied 30% in world shipbuilding market [Shipbuilding]
According to the Ministry of Industry and Information Technology (MIIT) of the People’s Republic of China, Chinese shipbuilding industry showed outstanding operational results and China’s major economic indicators showed rapid growth continuously...
2009-02-03 18:48:56
China 2008 profit increased by 50% [Shipbuilding]
According to the latest news from Ministry of Industry and Information Technology of the People’s Republic of China (MIIT) on February 2, despite the various challenges, such as continuous fluctuations of raw material price including steel and appr...
2009-02-03 18:43:18
Majors secured $48.2bn orders in 2008: South Korea [Shipbuilding]
In 2008, South Korea’s major shipbuilders belonging to the Korea Shipbuilders’ Association (Koshipa) received newbuilding orders for 467 ships of 14.02m CGT worth $48.2bn, down 40.7%, 32.4% and 31.8% year-on-year respectively, amid global shipbui...
2009-02-03 12:11:38
STX Europe denies Korea move [Shipbuilding]
Europe's largest shipbuilder says it will keep making its high-value cruise ships in its European yards, in spite of speculation that its new owner might move production to South Korea. Torstein Dale Sjotveit (pictured), chief executive of STX Eur...
2009-02-03 07:57:28
Flush Chinese shipbuilders face defaults in 2009 [Shipbuilding]
Chinese shipbuilders are seeing a rise in defaults on new orders, and face "severe challenges" in the next few years, after a flush 2008 in which profits grew by 50 percent, the Xinhua news agency said on Monday. China's shipbuilding industry, which ...
2009-02-03 07:51:45
IHI into the red [Finance]
Japanese shipbuilder IHI Corp has plunged into the red in the first three quarters of its financial year. It said net losses totaled JPY 24.55bn ($276.18m) to 31 December as the yen strengthened against the dollar, compared to a profit of JPY 11.22bn...
2009-02-03 07:47:02
Costs up but profits up too: Bharati [Finance]
Soaring costs ate into a much-improved sales figure at India’s Bharati Shipyard in the third quarter. The Mumbai-listed shipbuilder did, however, manage to increase quarterly net profit by a fifth. The cost of materials ballooned in the three mo...
2009-02-03 07:42:44
Stray PSV newbuild settles [Shipbuilding]
Per Saevik has bought a platform supply vessel (PSV) newbuilding which has just been completed at troubled Havyard Solstrand shipyard. Receiver SB1 Midt Norge has sold the 6,920-hp Trico Sapphire to Havship DA, brokers say. The buyer is a KG (limi...
2009-02-03 07:37:41
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