China showing slip in newbuilding demands [Shipbuilding]
Worldwide financial crisis brought a diminishment in Chinese economic growth. Slowdown in shipping market, such as shrunk volume of exportation of raw materials and goods, now affects the shipbuilding industry’s market conditions. However, Ch...
2008-10-29 18:42:45
17th JECKU takes place next month [General]
CEOs of shipyards around the world meet next month in Japan. About 80 senior representatives from the leading shipbuilding companies in Japan, Europe, China, Korea and the United States will attend the 17th JECKU Top Executive Meeting which will b...
2008-10-29 18:09:28
China State Shipbuilding net profit up 48.64% [Shipbuilding]
China State Shipbuilding Co Ltd (CSSC), the Shanghai-listed unit of the country's biggest shipbuilder China State Shipbuilding Corp, announced on Tuesday that its net profit for the third quarter of this year surged 48.64% year-on-year to hit RMB 1.2...
2008-10-29 17:26:34
China ship exports record 10.58 billion in 7 months [General]
China sold abroad 1.4 million vessels in the first seven months of this year, a growth of 170 percent on the same period of last year, customs sources said on Tuesday. The exports were valued at 10.58 billion U.S. dollars, up 61.6 percent, accordi...
2008-10-29 17:04:52
Strong-yen vs Weak-won [Shipbuilding]
South Korean and Japanese shipbuilding industries are both looking to devise measures amid the recent strong yen and weak won. Particularly, South Korean shipbuilders are having difficulties due to the jump in steel plate import prices, caused by ...
2008-10-29 15:08:34
C& Heavy downgraded [Finance]
Korea Investors Service (KIS) on October 28 announced it readjusted downward the credit rating of C& Heavy Industries’ unsecured convertible bonds to B from B+. KIS revealed it downgraded the company’s credit rating because C& HI is facing gro...
2008-10-29 11:48:05
Secondhand Capesize prices collapsing [General]
Slumping dry market seems to have affected secondhand bulker prices. Foreign press reports say that Chinese steel producer, Rizhao Steel Co. has purchased the 172,000dwt Arethousa, built in 1999, from Zela shipping in the UK for $90m. The secondha...
2008-10-29 11:16:58
USC secured only one ship in 1st half [Shipbuilding]
Japan’s Universal Shipbuilding Corporation (USC) received just one newbuilding order, for a 200,000-dwt bulk carrier, in the first six months (April to September) of fiscal 2008. The shipyard refrained from taking orders for ships for relatively...
2008-10-29 10:28:01
Eight suezmax tankers postponed [Shipbuilding]
According to foreign press report, China’s Yangfan Group and Germany’s emerging broker TB Marine seem to have agreed on the postponement of the newbuildings order for eight 159,000dwt Suezmax tankers. The main reason of the postponement is tho...
2008-10-29 08:26:57
Widening polarization among Chinese [Shipbuilding]
Polarization phenomenon is being seen among Chinese shipyards as the worldwide financial tsunami overtook shipbuilding industry via shipping and shipbuilding finance sector. And small shipyards with feeble viability are facing growing possibility of ...
2008-10-29 07:11:34
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