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Shin Yang to invest in UAE shipyard
Shin Yang Shipping Corp Bhd will use part of the proceeds raised from its initial public offering (IPO) to set up a shipyard in the United Arab Emirates (UAE) to cater to the increase in shipping operations there, said financial controller and compan...
2010-06-28 07:50:39
Hanjin moves employees
All the employees working at the factory of Hanjin Heavy Industries & Construction Co., Ltd. (HHIC) in Ulsan will be convertibly moved to the one in Busan. On June 24th, the labor union of HHIC passed the tentative agreements, including the plan f...
2010-06-28 06:53:43
New president of MOL comes out
The new President Koichi Muto of Mitsui O.S.K. Lines (MOL) made inauguration speech on June 22nd. Koichi Muto said the surging demand from emerging economy especially China would help global shipping industry to be free from global financial cris...
2010-06-28 01:17:54
WAS Korea objection & correction report
In regard to the article titled "WAS Korea seems unviable" published on June 1st 2010, Asiasis said WAS Korea seems unviable as it expresses its opinion and judgement, but WAS Korea raised a counterargument that the term 'unviable' is used to describ...
2010-06-25 15:12:51
Marinette inks nine patrol boats
US shipyard Marinette Marine has won more US Coast Guard (USCG) newbuilding contracts worth $19.5m. It will build nine ships to add to the 106 patrol boats it already has in its orderbook. Half of the units will be built in Green Bay and the ...
2010-06-25 08:33:30
USC ditches yard deal
Russian state holding company United Shipbuilding Corporation (USC) has scrapped a deal to buy two "over-priced" St Petersburg yards. The expanding yard group believes the asking price for Severnaya Verf and Baltiisky Zavod is too high at a huge ...
2010-06-25 08:24:56
Worker dies in Turkey's Tuzla
One worker has died after a work-related accident in Istanbul’s Tuzla shipyards, an area notorious for workplace fatalities. Sixty-year-old Mehmet Tağrikulu, who was seriously injured June 14 when he was buried under tons of material in a ...
2010-06-25 08:14:12
STX ready to beat summer heat
South Korea's STX Offshore & Shipbuilding is facing the heat of summer with a variety of measures. The company is providing watermelon and mixed grain powder drink to all of its employees as the summer heat wave began earlier than expected this ye...
2010-06-24 10:35:06
Rongsheng splash out $1.32bn into Hefei
On June 21st Rongsheng Group splashed out over $1.32bn in Feixi aare, China. The group signed frame cooperation agreement with local government. The investment will be split in six years while fixed assets occupy about 67% among them. The event me...
2010-06-24 09:45:41
Korean No. 1 export item: Ships
Last year, there were seven export categories with the value of more than $10bn for each category in South Korea. They included vessels, wireless phones (cellular phones), electronic direct circuits and display devices. According to the 'Trad...
2010-06-24 07:22:03
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