General
India abandons new yard plans
The Indian government is dropping plans to construct three new state-owned shipyards as it believes privately owned yards are better placed to compete internationally. Confirming the decision, shipping secretary K Mohandas says the government sees...
2010-03-15 13:14:37
Order Cancellations Surge Feared
Leading marine cargo-equipment group Cargotec has flagged up concerns of another surge in newbuilding cancellations. Cargotec marine division began the year with a EUR 1.6bn ($2.17bn) backlog of orders but estimates that around 20% is vulnerable t...
2010-03-15 07:49:50
Market Recovery After 2012
Roh In-sik, president of Samsung Heavy Industries of Korea presented his strong will for expansion of eco-friendly ships application. He said at a launching ceremony of committee of three-million employment creation held at Chosun Hotel, Seoul on Mar...
2010-03-15 07:27:24
HHI Min Promoted To Chairman
Korean shipbuilder Hyundai Heavy Industries said on March 12th that its vice-chairman Min Keh-sik (68) was promoted to chairman. He graduated from the Seoul National University and received master’s degrees in space-aeronautics and marine engine...
2010-03-15 07:19:07
More Cancellations Coming: 40m DWT
Shipbroker Barry Rogliano Salles (BRS) says a massive 20 million to 40 million dwt of newbuildings may be cancelled this year, matching or even outstripping last year's total. Weak freight rates, particularly for containerships and petroleum produ...
2010-03-12 15:01:55
HMD operating margin exceeds 10%
Hyundai Mipo Dockyard of Korea held the 36th regular general meeting of stockholders on March 12th. Five bills, namely the 36th financial statements, in-and-outside directors and a member of audit committee appointment, alternations of corporate ...
2010-03-12 12:39:33
KR celebrates 50 years
The Korean Register of Shipping (KR) celebrated its 50th anniversary, debuting a book charting the company's history at a gala dinner. Around 150 leading shipping executives flocked to the Lotte Hotel in central Seoul to toast the classification ...
2010-03-12 08:11:40
Signs of Recovery
After struggling from declining orders during the global recession some signs of recovery are being seen in Korea's shipbuilding industry. Samsung Heavy Industries announced on Tuesday that it won deals worth 750 million US dollars with four Euro...
2010-03-12 07:49:08
Newbuilding prices to go up
Shipbuilding market's recovery is carefully forecasted in securities industry along with a number of positive factors occur in shipping and shipbuilding industry. Sung Gi-jong, analyst of Seoul-based Daewoo Securities said that there is a possibil...
2010-03-11 11:56:04
BNL, Fincantieri sign additional liquidity program
BNL-Group BNP Paribas, Ifitalia and Fincantieri have signed a reverse factoring agreement which enables firms working with Fincantieri to unfreeze credit and draw on additional liquidity. The agreement, which reflects the close attention which...
2010-03-11 09:16:42
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