Finance
Greek orders secured financing more than 75%
Three-quarters of the newbuilding contracts placed by Greek owners are securely financed, according to the governor of the Bank of Greece, George Provopoulos. In early 2008, orders placed by Greeks were equal to 48.9% of their existing fleet, whil...
2008-12-09 08:43:16
Great Offshore pledges shrs with Bharati Shipyard unit
Offshore and oilfield services firm Great Offshore Ltd has pledged about 4.7 million shares, or 12.73 percent of equity, with shipbuilder Bharati Shipyard, it said in a statement. The acquisition was made on Dec. 3 by two units of Bharati Shipyard...
2008-12-09 07:59:03
Auction of CSBC successful
The government sold 131.9 million shares, or 19.8 percent, of CSBC Corp, Taiwan (CSBC) to institutional investors at an average price of NT$13.42 per share yesterday. The state-run shipbuilder’s initial public offering (IPO) was oversubscribed ...
2008-12-08 16:53:36
Vietnam to continue sipbuilding biz
The Vietnamese shipbuilding industry does not seem to be changing its proactive stance even after the outbreak of the financial crisis, with the state-run Vietnam Shipbuilding Industry Corp. (Vinashin) still intending to continuously reinforce and fo...
2008-12-08 13:44:30
Germany to help yards hit by credit crunch
The German Federal Government is to act rapidly to help German shipyards hit by the credit crunch. It will use the state-owned KfW-Bank to secure credit for shipowners having problems with arranging financing for ships. The KfW bank will guarantee...
2008-12-05 17:23:40
Weak RMB stimulates shipbuilding steel plate price to reboun
December 3, shipbuilding steel plate price rose sharply and the stock prices for CSSC Jiangnan Heavy Industry Co.,Ltd. (CSSC JHI) and Guangzhou Shipyard International Company Limited (GSI) increased and Hudong Heavy Machinery Co.,Ltd.’s stock price...
2008-12-05 07:40:09
Ship prices fall again
Vessel values continued to slide this week despite a pick up in the level of sale and purchase activity. The price of a five year old capesize slipped 2% to just $46m over the past week with a VLCC worth 1% less at $109m, the Baltic Exchange says....
2008-12-03 11:38:17
World’s ship loans standing at USD 340bn
An official at London shipping advisory body Clarkson revealed that current world’s merchant ship fleet amounts to 1.1bn dwt, but hitherto the total dwt of constructed merchant ship stands at 601.8m dwt, which is a 55% of existing total fleet dwt. ...
2008-12-03 07:25:51
Values dive for handy boxships
Price expectations of around $20m for modern units are setting a new benchmark. The asset value of handysize containerships appears to have halved. A spate of modern 1,700-teu vessels being circulated for sale at around $20m shows how far the...
2008-12-02 08:38:00
Germans seek help over credit
German shipbuilders and car-part makers will hold emergency meetings with Economy Minister Michael Glos, seeking help to end a credit squeeze that’s pushing companies to the brink of insolvency. In separate talks, the industries want to impress on ...
2008-12-01 07:08:31
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