Hudong Heavy Machinery [General]
Hudong Heavy Machinery’s current order backlog amounts to 23 million tons and 2008 shipbuilding completion is expected to exceed 5 million tons. 2009 shipbuilding completion will show an increase of 600,000-700,000 tons against 2008, the increase m...
2009-01-29 13:57:21
Gazprom, Shell may delay exports of Russia's first LNG ... [General]
Japanese utilities may face a delay in receiving the first liquefied-natural gas cargoes from an OAO Gazprom-led project in Russia, an official said. Sakhalin Energy Co. may start shipments of the clean-burning fuel by March from Sakhalin-2 proje...
2009-01-29 13:53:26
MOL to scrap 17 ships [Shipping]
Japan's second-biggest shipping firm, MOL, will scrap 17 aging ships – 15 automobile carriers and two Cape-size bulkers – by the end of March, a company spokesman said. The scrapping comes in response to a sharp slump in demand for sea tr...
2009-01-29 13:46:44
Iran eyes Europe gas deal [General]
Iran is keen to discuss a deal to supply gas to the energy-hungry European continent, a senior Iranian official said Tuesday. "Iran is ready to discuss not just supply but also security. Energy security is the most important project which we are ...
2009-01-29 13:41:12
Hint of growth in demand for raw materials [Equipment]
The cost of shipping dry bulk commodities such as iron ore, coal and grains rose on Jan. 27 to its highest level in three months, recovering 51 per cent from its December low, on signs of a tentative renewal in demand for raw materials. The Balti...
2009-01-29 13:34:18
Vessel sales boost OSG liquidity [Finance]
Tanker giant Overseas Shipholding Group, Inc. says that vessel sale and sale/leaseback transactions generated total proceeds of approximately $194 million in the fourth quarter of 2008 and are expected to generate approximately $193 million in the fi...
2009-01-29 13:26:56
IUMI paints bleak future for shipping and insurers [Shipping]
Marine insurance industry leaders have warned underwriters that the knock-on effect from the “devastating” global economic and seatrade downturn could last into 2011. The International Union of Marine Insurance said underwriters will have to “r...
2009-01-29 13:19:08
Moody's upbeat about dry bulk companies [General]
A reassuring view of the credit ratings of bulk shipping companies has been issued by Moody’s Investors Service, despite the pressure on freight rates and asset values. Moody’s, a leading credit ratings agency, said the majority of companies that...
2009-01-29 13:13:17
South Korea wins triple crown [Shipbuilding]
South Korea continued to get a triple crown for the sixth consecutive year in terms of newbuilding contracts, deliveries and orderbook, fortifying its status as the world’s No. 1 shipbuilding country. According to Clarkson Research Services data re...
2009-01-29 11:42:44
Petrobras makes first LNG delivery using FSRU [Shipping]
Petrobras earlier this month made the first delivery of liquefied natural gas (LNG) to generate electricity in Brazil. The delivery took place between Jan. 18 and Jan. 26. The plants that received the natural gas were Termoceará, a Petrobra...
2009-01-29 07:53:09
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