Equipment
European steel market situation not improving
MEPS reported that the European steel market is witnessing unprecedented conditions. It said that “As mill order books collapsed, the steel makers were left with substantial amounts of part and fully finished products. Consequently, there have been...
2008-12-16 08:22:32
Iron ore prices drop 20%?
The 2009 annual iron ore negotiations are approaching, and once again, news headlines are teeming with all kinds of arguments from different iron ore stakeholders. We believe that iron ore contract prices will fall next year, but will not collapse (w...
2008-12-15 14:03:01
Engine producers hit by order cancellation
Engine producers, particularly those in Korea and China, have been hit by a storm of order cancellations. According to information made available so far by licensers and engine industry officials, orders have been retracted for more than 100 unit...
2008-12-15 08:28:13
Vale cuts and shuts
The “severe global recession” and “uncertainties about the future” have forced Brazilian mining company Vale to shut another four facilities. Two pellet plants have “stopped operations” at Tubarao port with a further two owned by a joi...
2008-12-12 11:07:33
BHP to cut production
BHP Billiton could soon become the latest mining stalwart to slash iron ore production in the face of slumping global demand. The Anglo-Australian outfit, which has so far resisted any iron ore cuts, could cut its production by up to a quarter, Au...
2008-12-12 11:05:08
Rio axes manpower
The collapse in demand for iron ore has led mining behemoth Rio Tinto to axe 14,000 jobs in the run up to Christmas. The UK and Australia-listed outfit is now also looking to sell off “significant assets” as it aims to slash its net debt by $1...
2008-12-12 10:59:16
ABB wins $150m offshore contracts in Q3
ABB, a power and automation technology group, recently won six contracts collectively worth more than $150m to supply main electrical systems for drilling rigs and drill-ships built in Asia. The orders were booked during the third quarter of 2008. Am...
2008-12-11 08:52:42
Exousia announces initial supply order for Bohai
Exousia Advanced Materials, Inc., through its China subsidiary, Tianjin Advanced Materials Inc., announced that the company has received an initial order from Bohai Ship Building and Repair to supply marine industrial coatings. This order, for approx...
2008-12-11 08:47:44
RWO's CleanBallast boards ship
RWO in Germany, a specialist for oil-water separators received a large order for its new ballast water treatment system CleanBallast. The Bremen-based Beluga Group is already using the ballast water treatment know-how and product of RWO and is thu...
2008-12-10 09:19:41
Wartsila inaugurates new Korean centre
Wärtsilä's long established presence in South Korea has been further strengthened with the inauguration yesterday of its new service centre and office in Eomgung, Busan. By opening these premises, Wärtsilä will be able to centrali...
2008-12-10 08:18:10
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