General
Hyundai won $1.8bn orders in March
Hyundai Heavy Industries of South Korea recently revealed in a regulatory filing that it has received orders worth $1.8bn in March, down 82.84% against a year ago. The figure is up 49.04% from February but the company’s Shipbuilding Division has re...
2009-04-30 06:17:03
Containership scrapping soars
Containership scrapping soared to new highs last month as prospects of a major clear out of older tonnage gathers momentum. Twenty ships with a combined capacity of 31,694-teu were sent to the breakers yard, according to data from Clarkson. Mos...
2009-04-29 11:32:13
Slashing orderbook good for shipyards
A reduced global orderbook is actually in the best interests of shipyards as well as owners in the long run, maintained the president designate of shipowning body, BIMCO. Robert Lorenz-Meyer, speaking at TradeWinds’ Shipping China Energy confer...
2009-04-29 10:34:57
Reliance plans to order capes
India's Reliance Power Ltd. is laying a scheme to acquire capesize bulker newbuildings at low prices. According to overseas media reports, Reliance is currently advancing talks with shipyards in South Korea and China concerning the assumption of ...
2009-04-29 07:50:06
Wadan to implement short-time working
The crisis-ridden Wadan Yards in Wismar and Rostock-Warnemünde plan short-time working for their 2,500 employees. “We are on the verge of signing an inhouse agreement,” chief financial officer Stefan Säuberlich said. “But shor...
2009-04-29 07:22:20
Crisis cartels could help resolve overcapacity
Shipping markets are likely to be plagued by a huge number of unwanted vessels for years to come unless owners and operators are permitted to take concerted action to remove the surplus. In usual circumstances, any coordinated efforts would be consid...
2009-04-29 07:17:05
Bergen reduces business in Sweden
Norway’s Bergen Group has decided to “reduce the business” at its shipyard in Landskrona, Sweden, by laying off 52 of the 61 workers. The Landskronavarvet plant was bought as part of the $38.87m takeover of Fosen Holding in 2008. It builds s...
2009-04-28 07:30:28
LNG carrier newbuilding prices fall
Quoted prices of LNG carrier newbuildings are falling. Amid the more than two-year-long stagnant newbuilding market, the ordering rush until last October of other types of ship prevented the prices of LNG carriers from collapsing, but the subsequent ...
2009-04-28 07:24:42
ThyssenKrupp workers reject new revamp plan
ThyssenKrupp AG labor representatives said they won't approve new plans by the German industrial conglomerate's management to restructure the company, warning of an escalation of the dispute. In a written statement, the workers' council of ThyssenKru...
2009-04-28 07:04:34
Emergency management
Shipbuilders, suffering severe orders drought, are getting into emergency management systems to survive, such as streamlining organization and reducing costs. According to Korea Shipbuilders’ Association, its nine member shipbuilding firms have ...
2009-04-28 06:16:04
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