ABG Shipyard's net sales up 77.8% [Finance]
ABG Shipyard Limited, India's largest shipbuilding company last Friday reported a 54.3 % in its EBIDTA to Rs. 124.7 crore ($25.4m) in the quarter ended December 31, 2008 as compared to Rs.80.8 crore during the same period last year. Net Sales in Q3FY...
2009-02-02 07:08:03
Indian maritime infrastructure investment must be quadrupled [Shipping]
India’s Minister of State for Industry Ashwani Kumar has said that investment in ports, shipping and logistics sector must be quadrupled to bring the sectors up to international standards, reports PTI. "Our shipping and logistics infrastructure is ...
2009-02-02 07:04:26
Wartsila faces orderbook cancellation [Equipment]
Wärtsilä, one of the largest ship engine makers, faces losing up to €800m of its existing orderbook due to potential cancellations. With a current ship power orderbook of €4.5bn ($5.8bn), this represents almost 18% of its engine ord...
2009-02-02 06:57:36
Hyundai New Shipyard to build its first ship [Shipbuilding]
Hyundai Heavy Industries’ Gunsan new Shipyards which is the first large-scale shipyard in North Jeolla Province, South Korea, starts operation in earnest at the beginning of February. According to Gunsan city, Gunsan Shipyard is scheduled to hol...
2009-02-02 06:13:16
A Period of Order Drought [Shipbuilding]
South Korea’s large shipbuilders are also suffering from ‘order drought’ at the beginning of this year as the marine industry slump which begun in the latter half of last year continues. According to shipbuilding industry sources, Hyundai He...
2009-02-02 06:05:20
China having bargain sale on newly built vessels [Shipbuilding]
Chinese shipbuilders are known to look for shipowners to sell the newly-built vessels with cancelled order recently. Many industry experts are concerned about the newbuilding price drop which might be caused by this news. According to recent Lloyd...
2009-01-30 15:42:33
China expects 20% delivery delay [Shipbuilding]
It is anticipated that massive number of China’s newly-emerging private shipyards will abandon the shipyard business due to the recent order diminishment. According to a Chinese bank’s recent report, 2008 China’s shipbuilders’ order-receip...
2009-01-30 15:00:41
CSIC YMD develops China’s 1st intelligent LS diesel engine [Equipment]
China’s first intelligent vessel low-speed diesel engine has recently passed the inspection from related department. According to the industry experts, against the existing ones, this 6S35ME-B intelligent vessel low-speed diesel engine shows higher...
2009-01-30 14:24:15
Renewing Daewoo [General]
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME), after the sale of its controlling stake falls apart, plans to reshuffle its management and organization sooner or later which has been delayed due to the sale procedures. Th...
2009-01-30 13:19:55
C& Heavy and Daehan attracting interest from buyers [Shipbuilding]
Ailing South Korean shipbuilders C& Heavy Industries and Daehan Shipbuilding are attracting interest from buyers. Market sources say one is a mystery South Korean entrepreneur, while Greek owner Target Marine is said to be teaming up with an unnam...
2009-01-30 11:33:04
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