Finance
Bangladesh Bank forms $73m fund for shipbuilding
The Bangladeshi central bank is likely to form a Tk 5.0 billion ($72.559 million) fund for the country's emerging shipbuilding industry in a bid to turn into a substantial export earning sector similar to ready-made garments, officials said. "The Ban...
2009-02-10 07:36:23
Prices drop for modern MR tankers
A sale by SK Shipping shows a sharp fall since three months ago. Prices for modern tankers are under pressure with SK Shipping of South Korea said to have sold a medium-range (MR) products tanker for a price substantially below what the sistership...
2009-02-09 07:09:52
HHIC’s operating profit up more than 300%
Hanjin Heavy Industries & Construction of South Korea announced on February 5th in a regulatory filing that its 2008 operating profit increased 340.9% against a year earlier to reach KRW 510.366bn (USD 370m). Revenue rose 166.4% YoY to KRW 3.848tr...
2009-02-06 13:56:06
Rescue ailing Shipbuilders: China
The Chinese government has commenced work to enact a new law in order to rescue financially strapped shipbuilders. According to local newspapers, the State Council of China (SCC) on Feb. 4 started discussions on a draft bill titled "shipbuilding...
2009-02-06 11:56:58
Wadan's German yards win $231m funding
The future of the Wadan’s yards in Wismar and Rostock-Warnemünde is secure after a bank consortium of Deutsche Bank and KfW Ipex agreed a loan totalling €180m ($231m) to the yards. The two yards were close to bankruptcy last year after faili...
2009-02-06 07:29:43
S. Korea to aid firms under debt workout
The South Korean government decided to help local firms under debt workout programs by providing guarantees for overseas contracts and clarifying guidelines on distributing funds to troubled firms, the country's financial watchdog said on Wednesday. ...
2009-02-05 14:29:40
BOC’s advance payment R/G came to USD 18bn
According to the data released by Bank of China (BOC) on February 4th, up to September 2008, BOC has opened down payment refund guarantees of USD 18bn for Chinese shipbuilders and vessel trade agencies in 48 countries and regions.
2009-02-05 12:50:37
Odessos shipyard profit climbs but it faces tougher times
The Odessos shipyard in Bulgaria has doubled profit in 2008, but is warning of tougher times in 2009. The Varna-based facility said net earnings were more than BGL 15m ($9.94m) to 31 December, compared to BGN 8m the year before. Revenues grew to B...
2009-02-05 08:05:51
Tanker values face dramatic fall
Seconhand tanker prices appear poised to plummet, with a five-year-old aframax offered for sale at nearly half its value two months ago, and 21% below the current Baltic assessment price. The Nissen Kaiun-owned 105,985 dwt 2003-built Trident Hope ...
2009-02-05 07:33:08
Abu Dhabi Shipbuilding profits quadrupled in 2008
The Abu Dhabi Ship Building (ADSB), based in the UAE, said yesterday its net profits nearly quadrupled in 2008 to their highest level since it was created 14 years ago. ADSB, one of the largest shipyards in the region, said net earnings leaped to...
2009-02-04 07:21:03
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