STX France to introduce short-time working
STX France is to introduce short-time working for 750 employees in March and April, following a fall in workload at its flagship Saint Nazaire shipyard. After last month’s official cancellation of one of the two 2,100 cabin, Freestyle 3 vessels...
STX Europe expects growing market for retrofits
Vesa Marttinen, VP of Lifecycle Services at STX Europe, expects the market for retrofits and refurbishments to grow significantly over the next few years as a consequence of new rules and the need to modernize current vessels. “There is a tremendou...
"The set of a Hollywood disaster movie": Clarkson's war...
2008 will almost certainly go down in the history books as a year of records. Capes started the year earning $130,000/day and handymaxes $60,000, according to Clarkson’s latest weekly report. But by February, rates were down 40% and earlier warn...
Local-Foreign clash over shipbuilder's predictions
Korean firms stay positive, but foreigners were right in 2008 Foreign and local brokerages picked up where they left off last year in a confrontation over the performance of local shipbuilding stocks in the new year. Just like last year, local...
Demolition market: Five a day scrapped
Market turmoil has raised ship scrapping to its highest level in two decades, a leading broker says. Nearly half a dozen ships are currently heading for the torch every day with demolition prices defying gravity despite the increased activity, Glo...
CSIC’s economic aggregate increased 30%
Although financial crisis caused steep downward trend in worldwide shipbuilding market, the recent statistics released by China Shipbuilding Industry Corporation (CSIC), the leading shipbuilder in Chinese shipbuilding industry, on Jan 10, 2008 reveal...
Alfa Laval to cut jobs
Environmental engineering specialist Alfa Laval is to axe 1,000 jobs with order cancellations in its marine and diesel division a key factor. The Swedish group which manufactures oil water separators, ballast treatment systems, tank cleaning equipmen...
Demolition Rush: Bulker
Almost 30 vessels have gone to the breakers with prices set to fall. Older bulkers are being phased out fast and as many as five panamaxes have been sold for demolition in the past couple of weeks. Eastern Mediterranean Maritime (Eastmed) of Gree...
L&T plans to build new shipyard
Confident that the present economic downturn will not hit its ambitious Rs2,000 crore ($410m) shipyard plan near Chennai, Larsen and Toubro (L&T) said that to begin with it they would start building naval ships, particularly frigates and warships. ...
Croatia's shipyards: one step nearer
The European Parliament’s rapporteur (investigator or monitor) for Croatia has reportedly approved the country’s shipyard sell-off and restructuring plan. Metal Workers' Union president Ivo Marjanovic told local media that Hannes Swoboda had ...
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