Hyundai Profit Plunges 33% [Shipbuilding]
Hyundai Heavy Industries Co., the world's largest shipbuilder, posted a 33 percent drop in third- quarter profit, the first decline in three years, because of higher steel plate costs and wrong-way currency hedges. Net income plunged to 291.8 bil...
2008-11-02 14:37:02
Seaspan predicts cancellations as Evergreen slumps [Shipping]
ORDERS for big containerships will be cancelled, delayed, or converted to other ship types if the industry downturn is prolonged, Seaspan chief executive Gerry Wang predicted as the box trades took another pummelling and Evergreen joined the casualty...
2008-11-02 13:51:58
Fincantieri to Build New Fleet Tanker for the Indian Navy [Shipbuilding]
On the occasion of the international exhibition Euronaval – the most important trade fair for the defence industries currently in progress in Paris-Le Bourget – Fincantieri has announced the company has gained an order to build a fleet ta...
2008-11-02 13:49:05
Hyundai enters wind power business [Shipbuilding]
Hyundai Heavy Industries, the world's largest shipbuilder, is moving into the wind power industry. Devens, Mass.-based American Superconductor announced last week that it has licensed two of its turbine designs to the South Korean company, which h...
2008-11-02 13:31:46
Shipbuilding order cancellations shrouded in secrecy [Shipbuilding]
Lloyd’s List reported that new building orders are being cancelled, but even industry insiders are finding it almost impossible to discover exactly what is happening behind the scenes, with many of the discussions between ship owners and yards cloa...
2008-11-02 13:22:14
Poland’s shipyards, the Kuwaiti prince and the internation... [Finance]
Poland’s ministry of treasury ignored an offer from a member of Kuwait’s ruling family, Mubarak al Jaber al Sabah, to buy Polish shipyards via the mediation of an international weapon dealer. The Kuwaiti prince attempted to invest in the shipy...
2008-11-02 13:16:19
Petrobras Won't Delay 49-Tanker Newbuilding Plan [Shipping]
The transport unit of Petroleo Brasileiro SA will be able to maintain a 49-ship fleet expansion program because it has sufficient financing from a government fund and can ignore the world credit crunch, the unit's president said. Brazil's Merchant Ma...
2008-11-02 13:13:33
Wartsila to supply energy efficient systems to Aker Yards fo... [Equipment]
Wartsila has signed major contracts with Aker Yards AS Søviknes and Aker Yards AS Trading - the recently established project development arms of the Aker Yards Group - for the supply of propulsion equipment for five offshore vessel projects being bu...
2008-11-02 13:11:21
ASRYs' sales record USD105.47M 1st half [Shipbuilding]
The first half of 2008 has continued for ASRY as the second half of last year with a record workload. The six month period January-June saw a total of 62 vessels repaired with a sales value of USD105.47m. As usual the types of vessel repaired were wi...
2008-11-02 13:08:54
Keppel Expands Philippine Shipyard Operation [Shipbuilding]
The Board of Investments (BOI) has approved a P589,927 million ($US12.04 million) project of Keppel Singmarine Philippines Inc. (KSPI) for the production of tugboats and offshore support vessels for exports. Based on its registration with the BOI, KS...
2008-11-02 13:05:19
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