STX to push into marine equipment
South Korea’s STX Heavy Industries entered into Rudderpropeller (Azimuth Thruster) business for shipbuilding and offshore sector. STX HI recently signed a technical tie-up agreement with Germany’s Schottel, a leading ship propeller manufacture...
CSIC sells ship equipment subsidiary
China Shipbuilding Industry Corporation is selling a Shanghai-based non-core ship equipment subsidiary for Yuan1.7m ($246,000). The state-owned shipbuilder listed a 96.4% stake in the Shanghai Hengtong Power Station Co for auction on the Shanghai Uni...
Angang inks strategic cooperation with CSIC
It is reported that in order to be competitive on the supply-chain amid the financial turmoil as well as avoiding risks, one of the largest Chinese steelmakers Angang, based in Northeast China's Liaoning province, signed a long term strategic coopera...
Alang heads for record: Demolition deals
The shipbreaking industry continues to maintain a frenetic pace, with offers for demolition tonnage remaining steady and even firming, in spite of a large quantum of tonnage, particularly in the bulk sector, becoming available. Transparency has ta...
CSIC links with Angang Steel
China Shipbuilding Industry Corporation (CSIC), China's northern ship builder, has entered into strategic cooperation with Angang Steel. This follows on from a similar deal it signed last month with Baosteel to increase steel supply by 20% this year
Chinese steel market boost
It is reported that Chinese steel market is expected to be recovered soon in the second quarter, driven by the government 4 trillion investment plans. Mills restart production and many construction projects have been on their way. Steel market price ...
Korean lead ship mooring system
The Korean Agency for Technology and Standards said the United States, Japan, Britain and three other countries agreed to accept all 12 standards submitted by South Korean shipyards, including global leader Hyundai Heavy Industries. The standards,...
Vale to cut iron ore price by 10%
Brazilian miner Companhia Vale do Rio Doce (RIO) is sticking to its late January offer of a 10% cut in 2009 iron ore contract prices, but Chinese steel mills are holding out for much steeper cuts, a senior industry official said Thursday. Vale is wil...
China's steel output for shipbuilding tops 20m tons
China's annual shipbuilding steel production broke the 20 million-ton barrier. According to statistics released by the China Iron & Steel Association (CISA), Chinese steelmakers produced a total of 20,140,600 tons of steel in 2008, up 62% from 12,429...
MAN Diesel faces 20% order cancellations
MAN Diesel, the engine making arm of Germany’s Man AG, could see up to 20% of its ship engine orderbook cancelled as it faces a difficult year. The news came as the parent group reported its annual figures for 2008, showing operating profits up 11%...
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