Finance
AfDB threatens to suspend funding of Cameroon’s shipyard p...
The construction of the Limbé oil yard (south-west Cameroon) could stop because of the threat of donors, the African Development Bank (AfDB) to be specific, to pull out of the project, APA learns from reliable sources. Donors, mainly the Af...
2009-01-30 08:00:43
Samsung ups net profit
Samsung Heavy Industries has followed up a strong third quarter with a bumper full-year performance. It is thought the drop in steel prices at the end of the year contributed towards the 35% rise in net income. Vessels ordered at high prices wh...
2009-01-30 07:54:41
Sasebo bracing itself for loss in Q4
Japanese shipbuilder Sasebo Heavy Industries is bracing itself for a net loss in the final quarter of the year. But the yard has kept its full-year forecasts intact after reporting increased nine-month profit. Revenues were also ahead in the fi...
2009-01-30 07:49:54
Any takers for a stake in SNO Shipyard?
The major shareholder of Romanian shipyard Santierul Naval Orsova (SNO) is looking to offload an 11.8% stake. SIF 3 Transilvania, one of Romania's five regional investment funds, wants RON 11.47m ($3.6m) for the holding. The fund is offering 1....
2009-01-30 07:44:54
DryShips sales fail and it may cancel drillship orders
DryShips said Wednesday that three sold vessels are not likely to be delivered to buyers and two drillship orders may be cancelled. In a securities filing, the George Economou-led bulker owner identified the sales of the 72,000-dwt La Jolla (built...
2009-01-30 07:22:14
DSIC promises ‘3 No’
The president of Dalian Shipbuilding Industry (DSIC), Sun Bo, promised on 6th employees’ representatives meeting on January 16th, 2009, that there will not be redundancy, a pay cut, and a change in welfare, due to the international financial crisis...
2009-01-29 16:47:58
Vessel sales boost OSG liquidity
Tanker giant Overseas Shipholding Group, Inc. says that vessel sale and sale/leaseback transactions generated total proceeds of approximately $194 million in the fourth quarter of 2008 and are expected to generate approximately $193 million in the fi...
2009-01-29 13:26:56
C& Heavy selling management right for own salvation
South Korea’s C& Heavy Industries is looking to secure its last own salvation including selling the right of management for resuscitation. An official at C& HI said on January 28th, “C& HI is striving for additional self-help such as looking f...
2009-01-29 07:37:49
VT to sell shipbuilding operations to BAE Systems
Britain's VT Group is preparing to sell its naval shipbuilding operations to BAE Systems for 380 million pounds ($536.2 million) in July, the Financial Times reported on Wednesday. VT Group, which plans to focus on the support services side of its bu...
2009-01-28 15:25:56
Cashing in Fincantieri
The partial privatisation of Italian cruiseship builder Fincantieri could raise as much as EUR 300m ($397.36m), according to a local report. The Il Sole newspaper claimed the government could sell off up to 49% of the shipyard group. Its advising ...
2009-01-28 08:28:05
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