General
Jiangsu ship exports surge
The value of exported ships built in China's Jiangsu province increased 120 per cent in May to US$1.4 billion, a new monthly record since 2009, Xinhua reported. From January to May, Jiangsu's ship export value amounted to $5.5 billion , up 62.7 p...
2010-07-16 07:50:03
Tanker market under pressure
The focus of shipping market analysts is on the endless downfall of the dry bulk freight market, but things are not much better in the wet side of the market as well. The tanker industry is also increasingly coming under pressure, both as a resul...
2010-07-16 07:25:42
ClassNK continues global expansion
Nippon Kaiji Kyokai (ClassNK) announced the official opening of a new exclusive surveyor office in Cardiff, U.K. on July 15th. The new office becomes the fourth new office to be opened by the Japanese classification society this year, following t...
2010-07-16 07:09:02
JF Lehman sells yards
JF Lehman & Co has completed the sale of its US shipyard group, Atlantic Marine, the company revealed Tuesday. The private equity outfit says it banked $352m after BAE Systems forked over the funds to grab Atlantic Marine's operations in Alabama, ...
2010-07-15 08:22:58
Vinashin boss Binh suspended
Vietnamese state shipbuilder Vinashin has suspended its chairman Pham Thanh Binh as an investigation into its parlous financial state begins. Prime minister Nguyen Tan Dung decided on the probe to review Binh’s “responsibilities and to invest...
2010-07-15 08:16:49
Hyundai signs 2010 wage deal
Hyundai Heavy Industries labor and management held a signing ceremony today to officially finalize this year's wage collective agreement. The ceremony was attended by the representatives from both sides including HHI president Lee Jae-sung and lab...
2010-07-14 12:13:25
Vietnam revokes approval to STX
South Korea's STX Offshore & Shipbuilding has failed for now in its bid to establish a new yard in Vietnam. The company said the government withdrew approval for the plan following delays in building the plant of STX-VINA Heavy Industry due to th...
2010-07-14 07:30:52
Nassco cuts workforce
General Dynamic’s Nassco shipyard has laid off 290 of its 4,100 workers in San Diego. It blamed a downturn in merchant shipping business and fluctuations in the level of repair work for the US navy. Nassco also terminated 270 subcontractors...
2010-07-14 07:23:11
HHI wins red dot Design Awards
Hyundai Heavy Industries-developed HiMSEN Engine (Model No. 18H32/40V) and Next Generation Ship Surveillance & Control System (ACONIS-DS) were awarded the 'reddot Design Awards 2010'. HiMSEN Engine's refined and solid design as a heavy industry pr...
2010-07-13 13:08:55
Hyundai sets world No.1 record
Shipbuilding giant Hyundai Heavy Industries (HHI) delivered its world record-setting 1,660th ship, the 22,500 m3 LPG carrier Gaz Providence, to Naftomar of Greece on June 29. HHI has retained its ranking as the world's No.1 shipbuilder in both quan...
2010-07-13 09:17:53
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