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Shipbuilders out of accounting illusion
[Finance]
South Korean shipbuilding companies, of which appraisal losses have soared owing to their foreign exchange hedging, now can avoid the risk of capital encroachment. Financial Services Commission (FSC) of the country announced Wednesday that it appr...
2008-10-22 15:57:23
Japan’s residual order receipts exceeded 70m GRT
[Shipbuilding]
According to the statistics from Japan Ship Exporters’ Association (JSEA), Japan’s newbuilding order receipts from January till September recorded at 18.05m GRT(8.18m CGT) for 405 units. It shows that it exceeds the record-high order receipts ...
2008-10-22 14:40:02
EC seeks solution to Polish shipyards
[Shipbuilding]
‘Polish shipyards could produce something else’ Neelie Kroes, European Commissioner for Competition, has said in an interview for ‘Gazeta Wyborcza’ daily. The European Commission does not accept the shipyards restructuring plans submitted ...
2008-10-22 12:25:46
Contract cancellations, none in Japan
[Shipbuilding]
Newbuilding contracts are now being canceled following one after another in the world because shipowners are having difficulty in securing ship funds and shipyards are also troubled about material supply delays, financing problems and delivery delays...
2008-10-22 11:48:34
India considering revival of shipbuilding subsidy
[Shipbuilding]
India government is considering reviving subsidy for shipbuilding to enable the industry to become globally competitive. T R Baalu, minister of shipping, road transport and highways, has circulated a cabinet note towards this end for comments fro...
2008-10-22 11:06:29
Sembcorp secures LNG carrier longevity contract from IGTC
[Shipbuilding]
Sembcorp Marine is pleased to announce the award of a longevity contract from the International Gas Transportation Company Limited (IGTC), the parent shipping company of the North West Shelf Venture, for the life extension for its vessel, the Northwe...
2008-10-22 10:51:22
ABB wins grand-scale contracts
[Equipment]
ABB recently announced it had received orders for ship propulsion systems and electric power generating and distributing systems for several ships to be constructed in South Korea for a total of $75m. Among the ships linked to the contracts was in...
2008-10-22 10:18:39
Drydocks World building a new repair yard
[Shipbuilding]
The largest ship-repair complex in the Middle East, Drydocks World (DD World) under Dubai World Group has decided to invest $300m in new repair yard construction in South-east Asia. It is known that where the investment will be made is Batam Islan...
2008-10-22 09:30:54
Global storm hits Chinese shipyards
[Shipbuilding]
Chinese shipbuilding industry also seems to be having a great difficulty due to the recent financial crisis from wall street. Chinese representative state-owned shipyard conglomerate China State Shipbuilding Corporation (CSSC)’s Shanghai-listed ...
2008-10-22 07:17:59
Chinese shipyards may be tried in the furnace
[Shipbuilding]
Henceforth, Chinese shipbuilding industry will undergo the hardest trial, it is expected. Bao Zhangjing, the chief researcher of China Ship Marketing Research Center, said, “Due to the recent deterioration of global economy, some newbuilding ord...
2008-10-21 16:41:14
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