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Axed six at JES identified
[Shipbuilding]
Pancoast Trading and Tankerska Plovidba are believed to be the owners behind the cancelled orders at China’s JES International Holdings. The Singapore-listed shipbuilder confirmed on Friday that two customers had pulled orders for six 37,500-dwt...
2009-01-20 07:43:20
German SSW files for insolvency
[Finance]
Germany’s Schichau Seebeck Shipyard (SSW) has gone into administration. The district court of Bremerhaven said that managing director Karl-Heinz Jahncke had filed insolvency papers and given the yard’s inability to pay its bills and massive de...
2009-01-20 07:38:10
No recession here: Alang ship-breaking yard
[General]
The global slump in the shipping industry is turning out to be boon for the ship breaking industry in Alang, where around 60 vessels have arrived for scrapping from December 1 to January 15. According to people associated with the industry, aroun...
2009-01-20 07:28:43
Korean shipyards ‘urged’ to delay boxship deliveries
[Shipbuilding]
German shipowner Claus-Peter Offen has raised the stakes in the rapidly worsening shipping crisis with a blunt message to shipyards that they must delay container vessel deliveries, or put the future of their own businesses at risk. With ordering...
2009-01-20 07:20:09
Hyundai "No.1": World’s First-class Products
[General]
Hyundai Heavy Industries (HHI) has become the company which has the largest number of ‘World’s First-class Products’ in South Korea. HHI has secured additional World’s First-class Product certificate for its six products from the Ministry ...
2009-01-20 06:35:51
Order cancellations would ‘soar’
[Shipbuilding]
Since the second quarter, shipbuilding order cancellations would mount, WOORI Investment & Securities forecast. WOORI analyst Song Jae-hak on January 19th said, “The plummeting newbuilding prices and shipping market slump would result in a surge...
2009-01-20 06:25:22
Revitalization plan on Chinese shipbuilding industry
[Shipbuilding]
According to China Business, "Revitalization plan on Chinese shipbuilding industry", one of the ten key industrial revitalization plans led by China’s National Development and Reform Commission, has been completed, and will soon be submitted to the...
2009-01-19 23:54:17
Korea eyes $54.4bn of ship exports in 2009
[Shipbuilding]
South Korean government set the target of shipbuilding industry’s export at $54.4bn and plans to support the industry in full swing. Rim Che-min, the Vice Minister of Ministry of Knowledge Economy (MKE) said at the New Year’s Greetings Meeting...
2009-01-19 16:30:51
China Shipping is waiting to scoop up vessels
[Shipping]
Mr. Li Shaode, the President of China Shiping (Group) Company (China Shipping) said on January 13th shipping industry has not yet bottomed out, and the company is waiting for the chance to scoop up vessels as well as other small shipping companies. H...
2009-01-19 16:11:48
STX to attract $86m foreign fund
[Finance]
STX Norway which has a stake in STX Europe (ex-Aker Yards) has succeeded in issuing massive structured bonds. STX Business Group of South Korea on January 19th issues variable-rate bonds of $86m on the basis of the STX Europe stake which STX Norwa...
2009-01-19 11:05:31
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