General
Half of ship orders to slip
“Disaster” looms for the shipping industry if all ordered newbuildings make it onto the water as planned, according to STX Pan Ocean. The South Korean owner believes, however, that this doomsday scenario will be avoided by up to half of all n...
2010-08-13 07:50:55
Chinese orders surge by July
China’s Ministry of Industry and Information Technology announced on August 11th that national shipbuilding output hit 35.2m dwt during January-July period, rising by 87.4%. Seagoing ships took 11.39m CGT. Export orders occupied 79%. The new or...
2010-08-13 01:03:33
Slush fund in Daewoo ?
A probe into an alleged slush fund involving Daewoo Shipbuilding & Marine Engineering has led to a raid on one of its contractors. South Korean prosecutors raided the offices of Imchun Industrial and some of its executives on Tuesday. Compute...
2010-08-12 10:26:56
Shipyard legend Jimmy Reid dies
JIMMY REID, the former Clyde shipyard union stalwart, has died at the age of 78. Mr Reid came to prominence in 1971 when he led the Upper Clyde Shipbuilders work-in which successfully thwarted Prime Minister Edward Heath’s attempts to shut down...
2010-08-12 10:16:56
Worries behind World No.1
It is the first time for China to take the place of Korea’s championship in shipbuilding industry since seven year ago. However, experts thought it was just the beginning and China’s No.1 would not be sustainable. Ten years ago, the World No.1...
2010-08-12 01:34:07
HHI acquires control of Hyundai Oil Bank
South Korea's Hyundai Heavy Industries announced on Wednesday that Abu Dhabi state enterprise International Petroleum Investment Company (IPIC) has accepted court rulings and is set to hand over its 70% stake in Hyundai Oil Bank to HHI. Accordingl...
2010-08-11 14:42:45
Hyundai wins $700m solar plant order
South Korea's Hyundai Heavy Industries signed a contract with Matinee Energy in New York on August 10th to construct $700m 175MW solar energy power plants. Under the EPC contract, HHI will build 150MW solar power plant and 25MW one each in Dragoon...
2010-08-11 14:29:01
New Market Report Published in China
The shipbuilding market in China has been steadily growing and is expected to show strong growth with the ending of the recessionary period leading to renewed large scale international trade. China is the second largest player in the global shipbuild...
2010-08-11 11:49:15
Austal closes Tasmanian shipyard
West Australian based shipbuilder, Austal, is closing its shipyards in southern Tasmania a month earlier than expected. Austal told its 116 workers at its Margate facility three months ago that it would be closing in September, after its last contrac...
2010-08-11 08:24:19
Hanoi promises to revive Vinashin
Vietnam's Communist Party pledged to rescue the ailing Vietnam Shipbuilding Industry Group (Vinashin) to shore up the country's maritime industry, state media reported Monday. "The Politburo has asked the group to be restructured immediately to fo...
2010-08-11 08:22:21
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