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Demolition market prospering
According to Clarkson Research Services statistics, the number of demolition orders climbed up to 918 ships in 2009, rising by over 200% against 2008. But shipping industry may experience tough time again in 2010. As single hull tankers quit ...
2010-01-07 13:45:03
Resales soften orderbook cut
An unexpectedly low number of bulker newbuildings were cancelled in 2009 as resale deals softened a much anticipated order cull, foreign media reports. Only 10% of the bulker orderbook was ditched by owners in the past 12 months despite the specte...
2010-01-07 07:21:44
Hanjin adds compulsory layoffs
Hanjin Heavy Industries & Construction, one of South Korea’s large shipbuilders, embarks on additional workforce restructuring after voluntary layoff program fell short of its target. An official from the shipbuilder’s labor union said Wednesd...
2010-01-07 06:48:55
Maersk pays for naval escort
Maersk has confirmed reports that it paid for a Tanzanian naval patrol vessel to escort a product tanker in Somali waters as a one-off anti-piracy precaution in December 2008, but is at pains to deny that the practice is regular, foreign media report...
2010-01-06 06:40:28
Aegean swoops bunkering firm
Peter Georgiopoulos’ Aegean Marine Petroleum Network has purchased Verbeke Bunkering and its fleet of 18 bunkering vessels, foreign media reports. Aegean, a New York-based bunkers supplier, said the deal gives it control of a leading supplier i...
2010-01-06 06:30:40
Shipbreaking policy a top priority
Sheikh Hasina has said Bangladeshi government will formulate a policy for the hazardous shipbreaking industry "immediately". The prime minister's statement, at the national convention of the Institute of Engineers, Bangladesh (IEB) in Chittagong, com...
2010-01-06 06:16:13
CMA CGM board meeting fixed
The newly elected board of French container shipping group CMA CGM will meet for the first time on January 18th to officially elect its chairman and appoint a new chief executive. Group founder Jacques Saadé is set to become chairman of th...
2010-01-05 07:36:11
LR 250th year celebrations
Monday, British classification society Lloyd’s Register celebrated 250 years of technical service to maritime shipping when South Korea’s Hyundai Heavy Industries (HHI) delivered the first vessel of 2010 built to its class. The vessel, a 105,000-...
2010-01-05 07:20:00
Alang breaks a record 5,000 ships
With as many as 130 ships being broken simultaneously, the Alang ship breaking yard has crossed the milestone of dismantling 5,000 ships before the end of 2009. Since its inception in 1982, the yard has recycled 35.61 lakh light displacement tonn...
2010-01-04 07:12:48
Ship design theft
A former South Korean shipyard employee has been arrested amid accusations he attempted to steal vessel designs worth over $100m and hand them to rival Chinese yards. The 30-year-old lifted the blue-prints for 50 ships over 50,000 tonnes during a...
2010-01-04 06:48:19
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