Aker Yards changes name to STX Europe [Shipbuilding]
The world's leading builder of cruise and offshore vessels, Aker Yards, changes name to STX Europe. The name change reflects the entry of the South Korean-based STX Business Group as principal shareholder in the company during summer 2008. Effective ...
2008-11-04 11:00:54
Shipbuilding industry restructuring swiftly proceeds [Shipbuilding]
Shipbuilders’ order receiving has almost stopped recently and as for Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering, order-receipt in October stands at ‘zero’. It is for the first time in 46 months Hyundai did not bag ...
2008-11-04 05:53:01
Establishment of cooperative company to provide shipbuilding... [Equipment]
On Oct 22, Busan-based shipbuilding machinery and materials provider, P&P Korea, held a signing ceremony for setup of joint investment, Pav Marine Ltd, shipbuilding materials’ commissioning test & engineering service provider, with Vietnam Marine U...
2008-11-03 17:43:05
SPP Shipbuilding bags one more 35K bulker [Shipbuilding]
SPP Shipbuilding is said to have received an additional order for one 35,000-dwt bulker from Islamic Republic of Iran Shipping Lines (IRISL). In April, the Iranian state-run shipping company signed up for eight firm ships plus two options at the S...
2008-11-03 17:06:45
Morgan Stanley predicts $30,000 of capesize charterage in 20 [Shipping]
Morgan Stanley’s report on dry-bulk market, released on October 28 predicts Baltic Dry Index (BDI) would be around 2500 and short-term time-chartering of capesize bulkers would cost $30,000 per day in 2009. For 2010, it predicted BDI at 2200 and...
2008-11-03 16:34:39
STX Europe sees much less deficit [Finance]
Europe’s largest shipbuilding group STX Europe (ex-Aker Yards) revealed on October 29 that its pre-tax profit hit a loss of NOK 72m ($10.72m) in the first nine month period (Jan-Sep) against minus NOK 500m a year earlier. Although the company ha...
2008-11-03 15:35:19
DSME union’s official request to KDB and Hanwha [General]
Daewoo Shipbuilding & Marine Engineering (DSME)’s labor union first announced officially its requests to Korea Development Bank (KDB), the largest shareholder in DSME and also a superintendent of the sale of the shipbuilding company, and to Hanwha ...
2008-11-03 14:20:49
Minor shipbuilders in financial difficulties [Shipbuilding]
South Korean shipbuilders find it difficult to manage themselves now followed by worldwide recession in shipbuilding industry. C& Heavy Industries, which was said to be in need of workout lately, and minor shipbuilding companies at Kyongnam and Je...
2008-11-03 09:53:03
STX Chairman visits Norway [General]
STX Corporation Chairman Duk-Soo Kang first visited Norway after the establishment of STX Europe (ex-Aker Yards) and cheered the local management and also met with Norway’s Deputy Prime Minister. Chairman Kang, on a visit to Norway from October ...
2008-11-03 07:13:08
Hyundai Samho writes new chapter on on-land construction [Shipbuilding]
Hyundai Samho Heavy Industries of South Korea has succeeded in constructing a 165,000-dwt crude carrier, the largest ship ever built through on-land construction method. Hyundai Samho said Load-Out (pulling a ship into a floating dock) work was su...
2008-11-03 07:08:58
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