Newbuilding deliveries up 11% in 2008 [Shipbuilding]
In 2008, 2,336 deliveries of 89.1m dwt and 40.5m CGT were reported, according to the monthly report released by Clarkson Research Services early this week. This is 6% more vessels and 11% more dwt than in the previous year. In terms of vessels delive...
2009-01-29 06:25:12
Newbuilding contracts down 55% in 2008 [Shipbuilding]
In 2008, a total of 2,174 vessels of 42.6m CGT and 153.9m dwt were contracted, according to ‘World Shipyard Monitor’, the monthly report released by Clarkson Research Services early this week. This is the lowest number of contracts in a year s...
2009-01-29 06:19:01
VT to sell shipbuilding operations to BAE Systems [Finance]
Britain's VT Group is preparing to sell its naval shipbuilding operations to BAE Systems for 380 million pounds ($536.2 million) in July, the Financial Times reported on Wednesday. VT Group, which plans to focus on the support services side of its bu...
2009-01-28 15:25:56
Scotland: Recruitment push for shipbuilders [Shipbuilding]
Business development agency Scottish Enterprise said recruits were needed to complete a £4bn ($5.695bn) contract to build two new Royal Navy aircraft carriers. The £525,000 marketing campaign aims to boost the existing workforce and t...
2009-01-28 15:13:25
Three years: Newbuilding Market to recover [Shipbuilding]
Amid global economic recession, newbuilding ordering activity has in effect stopped and it would take more than three years for the newbuilding market to recover. Nihon Geizai Shimbun recently interviewed Osaka-listed Namura Shipbuilding President...
2009-01-28 14:45:49
DSME proclaims emergency management [General]
Daewoo Shipbuilding & Marine Engineering President Nam Sang-tae has requested its staffs and employees to get out of the aftermath of DSME sale rupture and participate in emergency management. On January 23th, Mr Nam said in a letter to staffs and...
2009-01-28 13:39:41
Reliance rethinks capesize strategy [Shipping]
Falling rates and bulker values have forced an Indian player to consider other options. India's Reliance Power is considering shelving plans to order six capesizes in favour of secondhand bulkers and chartering tonnage. Sources say the Mumbai-based c...
2009-01-28 08:33:14
Cashing in Fincantieri [Finance]
The partial privatisation of Italian cruiseship builder Fincantieri could raise as much as EUR 300m ($397.36m), according to a local report. The Il Sole newspaper claimed the government could sell off up to 49% of the shipyard group. Its advising ...
2009-01-28 08:28:05
Survival strategy: STX Europe [Shipbuilding]
STX Europe boss Torstein Dale Sjotveit says he would rather lay off workers and close yards than take loss-making orders. “Otherwise we will not survive,” he told a foreign media. STX Europe has been loss-making for the last couple of years...
2009-01-28 07:59:30
Phase two restructuring to target 98 companies [Finance]
The number to be selected for debt workout or instant removal is expected to be bigger this time. Korea’s financial authorities are expected to pick which construction firms and shipbuilders will be inspected during the second phase of corporate...
2009-01-28 07:53:45
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