General
Viking Line newbuild subsidy issue
Finland’s transport minister denied promising subsidy cash to help Viking Line build a new green cruise ferry at STX’s Turku yard. Anu Vehvilainen told local newspaper that no pledges of cash had been given to anyone, despite Viking CEO Mikae...
2010-10-28 08:25:33
Cochin gets coast guard order
India’s Cochin Shipyard will build 20 fast patrol ships for the country’s coast guard in a deal worth INR 15bn ($338m). The yard now has an orderbook of 36 vessels totalling INR 60bn. The patrol vessels will have a speed of 35 knots and a...
2010-10-27 07:26:00
Warnings on Singapore yards' safety
Shipyards in Singapore have been issued with more than 100 warnings for flouting safety rules in the last two months. Manpower minister Gan Kim Yong said there were still pockets of non-compliance in the industry. Speaking at the Keppel Group ...
2010-10-27 06:55:25
Singapore Technologies enters Brazil
Singapore's ST Engineering is splashing close to a quarter of a million dollars to plant roots in Brazil. The company says subsidiary VT Systems, an affiliate of US shipbuilder VT Halter Marine, is looking to set up an operating company to "explo...
2010-10-27 06:53:11
Kawasaki bullish about profit forecast
Kawasaki Heavy Industries has turned more bullish on its prospects, despite the rising value of the yen. The Japanese shipbuilder has revised its interim profit forecasts by 75% to JPY12.3bn ($152m) from earlier estimates of JPY7bn. This marks a ...
2010-10-26 08:17:59
Navibulgar buys handy quartet
Four handysized bulk carriers to be built by China’s Shanhaiguan yard are set to go to Navigation Maritime Bulgare (Navibulgar). The deal is for four 30,700-dwt vessels with the contract value reported to be a total $112m. Navibulgar has a ...
2010-10-26 08:04:49
Croatian yards fear harsh EU plan
Fears are growing that the European Union (EU) will run out of patience with the pace of shipyard privatization in Croatia and bankruptcies may soon become a reality. Brussels has called for the restructuring of Croatia’s struggling and largely...
2010-10-25 06:30:13
Russian-Ukrainian shipbuilding JV hits snag
The talks on the formation of a Russian-Ukrainian shipbuilding joint venture have encountered difficulties related to the operation capacity of the shipyards, Ukrainian Prime Minister Mykola Azarov has said. "We are currently holding the talks on set...
2010-10-22 08:33:33
Poor governance led to Vinashin trouble
The state-owned Vietnam Shipbuilding Industry Corporation’s outstanding debt stood at about VND90 trillion (US$4.5 billion). The group’s leaders had kept making up financial reports to the Government in recent years Last year, Vinashin suffered l...
2010-10-22 08:28:51
Croatia yard privatization "difficult"
Croatia’s president Ivo Josipovic has warned of job losses and social problems if the country’s shipyards collapse with the end of subsidies. The country is desperately trying to privatize six state-controlled shipbuilders ahead of European U...
2010-10-22 08:23:36
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