Shipbuilders contribute to employment retainment in Korea [General]
Amid global economic recession and increasing job cuts, workers at South Korea's shipbuilding companies are facing little risk of job losses. According to the data from Tongyeong Employment Assistance Center under Ministry of Labor, released on Ja...
2009-01-16 15:49:39
Maersk A/S obtains necessary approval for acquisition of Bro... [Shipping]
A.P. Møller - Mærsk A/S has now received the clearance from the European competition authorities for its acquisition of Broström AB (publ). No other approvals are required to complete the offer and all conditions are consequently fulfilled. Th...
2009-01-16 14:26:04
Shell reviewing bids for giant FLNG project [Offshore]
Shipyards and contractors have submitted their bids for energy major Royal Dutch Shell’s giant LNG floating production storage and offloading unit (LNG-FPSO) but prices may need to be revised downward due to the current financial climate. Industry ...
2009-01-16 11:53:19
A record high 2008 for Posco [General]
Posco saw its fourth-quarter operating profit sink 30 percent compared to the third quarter due to the financial crisis, while annual results for 2008 including operating profit, net profit and sales were all record highs. The world’s fourth big...
2009-01-16 07:47:01
Newbuilding: Ordering vs. Cancelling [Shipbuilding]
It is reported that, with newbuilding orders literally vanishing during December 2008, market analysts are turning their hands towards the future balance between tonnage supply and cargoes demand, in order to reassess asset values. George Moundreas...
2009-01-16 07:41:40
Scorpion wins loans for ‘Offshore Freedom’ [Finance]
Scorpion Offshore, which cancelled a rig order last week, has secured fresh funding from Bayererische Hypo-und Vereinsbank AG (HVB). The new $169m credit facility covers the remaining construction payments on Scorpion’s Offshore Freedom and refi...
2009-01-16 07:29:57
Russian shipyard developing ice-class cargoships [Shipbuilding]
Russian shipyard Krasnoye Sormovo is developing a new 7,600-dwt river-sea dry cargoship. The MNP-owned shipbuilder is teaming up with sister company Volga-Caspian Design Bureau to design the vessel, which will be able to carry hazardous cargo. The...
2009-01-16 07:25:02
‘Hebei Two’ out of prison on bail [General]
The Supreme Court of the Republic of Korea has granted bail to the two seafarers entangled in the Hebei Spirit case and released then from prison. This announcement has led to the cancellation of a rally in support of Captain Jasprit Chawla (pictured...
2009-01-16 07:19:29
STX Europe warns of job cuts at Turku [General]
Steel workers at STX Europe’s Turku yard in Finland face lay-offs as the yard struggles to find new orders. The West Finnish yard is currently completing the two largest cruiseships in the world, both Oasis-class vessels for Royal Caribbean Lin...
2009-01-16 07:15:56
Dongfeng inks contract to build a boxship [Shipbuilding]
CSC Chongqing Dongfeng Shipbuilding Corporation and an undisclosed US shipowner signed a contract for the construction of a 4,368 TEU containership. The contract is for a 106.68 metre-long ship with a 20.6-metre beam, 5.8-metre depth and 4.2-metre dr...
2009-01-16 07:10:42
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