Chinese to cut prices
Costs at Chinese shipyards look set to fall as analysts predict further reductions in the price of domestic steel for the rest of the year. A manager at one of China’s leading brokers says he expects further price cuts at domestic steel mills a...
Wartsila warns of sales drop
Engine manufacturing giant Wartsila has warned that annual sales could tumble up to 20% as profit slipped in the second quarter. The Finnish outfit does, however, see newbuilding activity increasing through the year with power plant orders also s...
MAN to supply engine set for Fjord Line
MAN Diesel & Turbo continues to seek out opportunities in a difficult market and recently signed a supply contract with Norwegian shipbuilder, Bergen Group Fosen, in Rissa, Norway. Under the terms of the deal, MAN Diesel & Turbo will supply eight...
ArcelorMittal orders 93K BCs
A fresh order for several post-panamaxes is expected to be delivered by 2011. Leading steel mill ArcelorMittal is brushing aside talk of too many ships in the market and ordering its own vessels in China with surprisingly prompt delivery. Wel...
Hamworthy inks STX LPG deal
Hamworthy, the UK marine equipment company, has won deals worth £50m ($77m) from a yard in Brazil. The company is to provide ship design and supply of cargo handling systems for eight LPG carriers ordered at Estaleiro Promar S.A., a subsidi...
Japan uncertain on plate export to Korea
It remains to be seen whether Japan's integrated steelmakers will see a turning point this week in negotiations on their export deals of ship plates with South Korea's shipbuilding companies for August to September 2010 shipments. The Japanese st...
CPC starts single huller conversion
Taiwan’s CPC Corporation has triggered new plan of single hull tanker fleet conversion. General Manager Zhu Shaohua of CPC Corporation said single hull tanker must be ruled out in 25 years. CPC’s single huller fleet, as more as 14 units, would...
Rolls-Royce wins £80m orders
Rolls-Royce has won orders to design and equip five offshore vessels plus options in deals worth around £80m ($122m). Naples-based Augusta Offshore has ordered a UT 712 CD anchor handling tug plus an option for a second vessel at Italian sh...
Wartsila bags €23m Brightoil order
Finnish group Wartsila is to supply the main engines for 40 new bunkering tankers being built for the Brightoil Petroleum Group (BPG), China. In terms of the number of engines, this is one of the largest-ever orders received by Wartsila Ship Powe...
KHI may import steel plate
Japanese shipbuilder Kawasaki Heavy Industries could be ready to buy steel from China and South Korea for the first time. The company is worried that domestic prices may rise too high. Nobumitsu Kambayashi, the president of KHI’s shipbuildi...
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