Korean Register opens Mumbai branch
The Korean Register of Shipping (KR), a classification society and IACS member, announced the opening of its first branch in India at a glittering function in Mumbai on April 16th. Addressing a gathering from the Indian maritime community, Mr Oh Kong...
Shipbreaking market slows further
Ship scrapping sales have slowed further as prices fell, but a floor may have been reached. Several vessels were circulated last week, but sellers were holding off finalising deals in the hope of a recovery in levels. US-based cash buyer GMS said:...
Majors launch new businesses
South Korean shipbuilders are seeking to diversify their business portfolios as declining orders stemming from the global economic recession are threatening to eat into their earnings. Orders to South Korean shipyards have surged over the past few...
Rebuilt-up US Navy
The increased piracy in commercial shipping lanes and the build-up of China and Russia's navies demand that the U.S. maintain a strong naval presence for national security and to protect global commerce. The wars in Iraq and Afghanistan have also ...
Taiwan shipbuilder denies orderbook blow
Taiwan International Shipbuilding (former CSBC) denied reports that its business had collapsed after a prominent shipping line from Israel had cancelled its orders. Zim Integrated Shipping Services Ltd. did cancel a plan to buy six ships from the ...
STX Europe wins order for French Navy
STX Europe has, through its subsidiary STX France Cruise SA, signed a contract to build a third Projection and Command Vessel (BPC) for the French Navy. STX France Cruise SA, in which STX Europe holds a majority stake, is jointly owned by STX Europe,...
L&T revives plans for Chennai expansion
Indian shipbuilding newcomer Larsen and Toubro (L&T) is looking to resurrect a scaled-down version of its expansion plans, which ran into trouble last year with the onset of the credit crunch. Sources say L&T plans to resume its construction activiti...
SSW changes course: Newbuilding ends
SSW Schichau Seebeckwerft is expected to shift its focus from shipbuilding to ship sections. The days of Germany's SSW Schichau Seebeckwerft as a newbuilding yard appear to have ended. The insolvent Bremerhaven-based facility is expected to focus ...
Sasaki irritated by Eitzen’s premature move
A Japanese shipbuilder has taken exception to a 'premature' cancellation announcement. Sasaki Shipbuilding is claiming Eitzen Chemical's announcement last week that it had cancelled five chemical-tanker newbuildings at the yard was premature. T...
CSAV seeks to revise orderbook terms
Chilean liner shipping giant CSAV is negotiating with yards to revise the terms of its $900m orderbook. The moves, which are part of a $750m refinancing package, look set to affect nine vessels it ordered for its own account. CSAV is in advanced t...
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