Resubmit financing plans: Daewoo sale [Finance]
Korea Development Bank, in talks to sell Daewoo Shipbuilding to Hanwha Group, asked Hanwha on Tuesday to rework its financing plan amid speculation the estimated $5 billion sale could fall apart. State-run KDB, a top shareholder in Daewoo Shipbuil...
2009-01-13 17:44:09
World’s containership shipping capacity will exceed 14 mil... [Shipping]
France’s shipping advisory organization AXS-Alphaliner pointed out on the recent report published in Paris, current total shipping capacity of containership worldwide has already reached 13 million TEU which includes the shipping capacity of 550,00...
2009-01-13 15:42:57
Japan developed new coating-protected steel plate [Equipment]
Japan’s JFE Steel Corporation has developed ‘JFE-SIP-BT’ (Steel for Ship Inside Protection for Ballast Tank), new steel plate with high durability for the coating on the ballast tank. It has enhanced the protective value against erosion of the ...
2009-01-13 14:33:15
Hyundai to develop ‘T-shaped dock’ [Shipbuilding]
Hyundai Heavy Industries on January 13 announced that it has recently completed a ‘T-shaped dock’ for the first time in the world at its Ulsan headquarters. Dock is a kind of large-scale pool where completed ships can be floated on the sea, wh...
2009-01-13 14:10:57
NACKS delivered China’s largest VLOC [Shipbuilding]
The Heheng, the very first 300,000-ton VLOC (very large ore carrier) in China, built by Nantong COSCO Khi Ship Engineering (NACKS), was delivered to COSCO (H.K.) Shipping. It is reported that this is the first vessel constructed after COSCO Group and...
2009-01-13 13:23:35
"The set of a Hollywood disaster movie": Clarkson's war... [General]
2008 will almost certainly go down in the history books as a year of records. Capes started the year earning $130,000/day and handymaxes $60,000, according to Clarkson’s latest weekly report. But by February, rates were down 40% and earlier warn...
2009-01-13 11:16:53
Local-Foreign clash over shipbuilder's predictions [General]
Korean firms stay positive, but foreigners were right in 2008 Foreign and local brokerages picked up where they left off last year in a confrontation over the performance of local shipbuilding stocks in the new year. Just like last year, local...
2009-01-13 11:11:49
Fincantieri and ABB float a joint venture [Equipment]
Fincantieri – Cantieri Navali Italiani S.p.A. and ABB S.p.A. have signed an agreement to create an equally owned joint venture in Italy for the design, development, and delivery of marine integrated automation systems for the naval, cruise, fer...
2009-01-13 07:42:48
Pakistan PM performs launching of STUS [Shipbuilding]
Pakistan’s Prime Minister Syed Yousuf Raza Gilani on Monday performed the launching of the first Small Tanker-cum-Utility Ship (STUS) at Karachi Shipyard and Engineering Works (KSEW). In his address on the occasion he termed this as a remarkable...
2009-01-13 07:35:20
Hanwha to parley DSME deal [Finance]
South Korea’s Hanwha Group said Monday it will negotiate the terms of its takeover of Daewoo Shipbuilding & Marine Engineering with the Korea Development Bank this week. KDB, the main creditor of Daewoo Shipbuilding, threatened Thursday to scra...
2009-01-13 07:30:52
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