Hyundai boss predicts fierce competition [General]
Dr. Min Kye-sik, representative director and chairman of Korea's Hyundai Heavy Industries, cast an outlook on the future shipbuilding industry in the year-end bash on 31st December last year, as saying, "due to the worldwide glut of ships, falling sh...
2011-01-03 08:24:50
Lower pricing to deplete earnings [Finance]
Many prospect the shipbuilding industries would lay the ground in 2011 with a rally of winning new orders being likely to continue, which slumped in 2009 due to the global economic crisis. Particularly, the newbuilding market would be reorganized...
2011-01-03 08:12:13
Big 4 target over $50bn [Shipbuilding]
Korean Big 4 shipbuilders are aiming to secure new orders worth over $50bn in total in 2011 in ship and offshore plant sectors. The world's four largest shipbuilding companies, namely Hyundai Heavy Industries, Samsung Heavy Industries, Daewoo Ship...
2011-01-03 07:31:47
Demolition volume falls [Equipment]
The number of old ships sold for demolition is set to end 2010 well down on 2009, says EBM Shipbroking. Its records show that by mid-December 2010 a total of 748 vessels of 25.58m dwt and 6.64 m ldt have been sold. This compares with EBM’s ...
2011-01-03 07:09:52
Russian deliver 14 ships in 2010 [Offshore]
In 2010 Russian shipyards completed and delivered to its customers 14 cargo ships of total deadweight of more than 1.4 million tons, the Russian Transport Ministry’s provisional data shows. The newbuilding orders were funded primarily by shipown...
2011-01-03 07:04:48
COSCO wins four 57K BCs [Shipbuilding]
Singapore-listed COSCO Corp said its 51-percent owned subsidiary COSCO Shipyard has secured contracts valued over $100 million to build four bulk carriers of 57,000 dead-weight tonnes each. The shipowner was not disclosed at the announcement. T...
2011-01-03 06:59:33
Chinese continue leaps & bounds [Offshore]
The orderbook of China’s shipbuilders are continuing to increase with new orders outpacing deliveries. China’s major yards are estimated to have won orders for 68m dwt this year compared to deliveries of 61m dwt with the country’s shipbuild...
2011-01-03 06:54:54
COSCO to expand specialist fleet [Shipping]
On December 30th, COSCO Shipping, China’s largest shipping company, revealed that ten newly-built ships would be delivered in 2011, including one-unit 50,000dwt semi-submerged ship and nine-unit MPPs and heavy lifters. The transport capacity would ...
2011-01-03 01:41:17
Overall loss to come? [Finance]
In 2010, the profits of China’s CSSC Guangzhou Longxue Shipbuilding Company were expected to surpass CNY100m ($15m). However, a representative of Longxue expressed that the shipbuilding industry faced challenges due to material cost rising and CNY ...
2011-01-03 01:39:51
Optimistic on 2011 [Shipping]
At the end of December, BDI fell through 2,000 points, which was the lowest level in recent five months. Experts indicated shipowners earned nothing at this level. The slumping of BDI reflected the overcapacity. In 2010, one newly-built was launc...
2011-01-03 01:39:08
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