Excel Maritime updates fleet [Shipping]
Excel Maritime Carriers, an owner and operator of dry bulk carriers, announced on January 21 the delivery of a newbuild Capesize vessel as well as the cancellation of a vessel purchase agreement. Excel Maritime has taken delivery of the newbuild Cape...
2009-01-22 07:57:58
Low demand leads to BHP axing 6,000 [General]
Thousands of jobs are being lost as mining stalwart BHP Billiton cuts nickel production on slumping global demand. The bad news is in marked contrast to the company’s first half financial report, released simultaneously, which hails a plethora o...
2009-01-22 07:49:25
Nigeria plans to buy six tankers [Shipping]
The Indigenous Shipowners Association of Nigeria (ISAN) has registered a new shipping company to boost the domestic industry. The plan is to acquire two crude tankers and four products carriers by the end of the first quarter. ISAN chairman Isaac ...
2009-01-22 07:43:25
Saving Lindo by downsizing [General]
Denmark's AP Moller-Maersk has announced a plan to save its Odense Steel Shipyard by specialising in smaller ships Directors at the yard, also known as Lindo, have agreed a new business model which will see shipbuilding continue there alongside th...
2009-01-22 07:39:05
New Robert Allan ASD tug class [Offshore]
Recently delivered to Norwegian owners Østensjø Rederi AS by Sanmar Denizcilik Makin eve Ticaret Ltd., of Istanbul, Turkey, Vivax is the first in a new class of ASD (azimuthing stern drive) tug. It is similar to a successful line of Robert Allan...
2009-01-22 07:32:10
BigLift signs five newbuildings at China [Shipbuilding]
BigLift, the Dutch heavylift specialist, has ordered a series of five heavylift vessels at China’s Zhejiang Ouhua Shipbuilding. The five vessels are due to be delivered between July and December 2010. No financial terms were disclosed. BigLif...
2009-01-22 07:28:15
Hyundai Q4 figures well beyond consensus [Finance]
Hyundai Heavy Industries (HHI)’ Q4 business results are expected to be much better than market expectations. Jo Yong-june, a research analyst at Shinyoung Securities, said, “HHI’s sales in the fourth quarter 2008 are forecast to surpass KRW5...
2009-01-22 06:50:56
Restructuring: Shipping’s turn [Shipping]
In South Korea, shipping industry also got into the restructuring gunshot following construction and shipbuilding industries. Main creditor financial institutions embarked on setting up criteria for weeding out toxic firms in shipping industry. Th...
2009-01-22 06:40:56
QBSHI’s offshore engineering equipment in mass production [Offshore]
Recently, CPOE NO.7 drilling platform built by Qingdao Beihai Shipbuilding Heavy Industry (QBSHI) for China National Petroleum Offshore Engineering (CPOE) has been successfully delivered. This is the QBSHI’s successful delivery of another offsh...
2009-01-21 22:54:00
BSHIC’s first 297,000-ton VLCC is off to seatrial [Shipbuilding]
Recently, the first 297,000-ton VLCC of Bohai Shipbuilding Heavy Industry (BSHIC) has made smooth seatrial. Cadres of BSHIC came to Pier 4 to see off the maiden voyage of this steel "giant". The first 297,000-ton VLCC successfully accomplished...
2009-01-21 22:53:07
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