Suspend IPO plans
The IPO hopes of China Shipbuilding Industry Corp (CSIC), one of the country's largest shipyards, are being obstructed by the deteriorating shipbuilding industry worldwide, an industry supervisor said. "The possibility of CSIC to get listed in 2009 i...
Croatia stands firm on shipyard sale
European Union candidate Croatia says it is ready to confront Brussels over the sale of its shipyards, even if it makes it impossible to conclude its accession talks this year. Croatia has five Adriatic shipyards, four of which have piled up huge ...
Gap in orders to limit tonnage supply: Long-term
The lack of newbuilding orders worldwide has now reached more than six months, as shipowners have cut down their investments, while order cancellations keep on coming, even at the risk of painful lawsuits following. During the first quarter of 20...
The last cranes from the historic Swan Hunter shipyard have been loaded on to a heavy-lift ship in the UK, as the North Tyneside skyline loses its most distinctive feature. More than 1,600 vessels have been built at the Wallsend yard, but the rem...
Rio Tinto sheds 700 jobs
Rio Tinto is axing over 700 jobs as it slashes production and cuts back expansion as metal prices and demand slump. An Australian alumina and aluminium unit of the mining giant warned that “at current prices around 70% of the industry is current...
Hapag-Lloyd to ax UK jobs
Hapag-Lloyd is planning to outsource its UK documentation offices to its global service centres in India and China. Shipping sources said the company was still in negotiations with staff representatives. The talks would take at least another two ...
Brazil Maua shipyard sheds 200
With a lack of large-scale orders, Brazil's Maua shipyard plans to cut 200 jobs. The Niteroi Steelworkers Union says the Rio de Janeiro-area shipyard began the job cuts last week, the Agencia Estado newswire reports. The cuts amount to 3.8% of ...
Swan Hunter cranes leave for India
One hundred and forty-five years of production at Swan Hunter, one of the world's most famous shipbuilders, has ended after its last cranes left the Tyne bound for India. More than 1,600 vessels have been built at the firm's yard in Wallsend, No...
Workers urge SSW rescue plan
Employees and metal workers union IG Metall have urged the owners of bankrupt SSW Schichau Seebeck Shipyard in Bremerhaven to come forward with a joint plan to rescue the operation. The shipyard, which is owned by the investors Karl-Heinz Jahncke,...
Keppel Cebu sheds off 91 workers
Keppel Cebu Shipyard, a wholly owned subsidiary of Keppel Philippines Marine, Inc. (KPMI), has implemented a redundancy program for employees as it refocuses on specialized ship building and exit from ship repair. In a statement issued on Friday,...
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