General
Singapore yards check on safety
Putting aside rivalry, teams from 14 shipyards will be visiting and 'checking' on each other's worksites for potential safety lapses and how these can be avoided. They will carry out these 'audits' under the Marine Industry Safety Engagement Team ...
2009-11-27 06:54:14
Ship values near bottom
Ship prices are close to bottoming out, according to a senior executive at Norwegian bank DnB NOR. Joachim Jaeger Skorge, head of corporate finance Asia for DnB NOR Markets, said this week that ship prices are “close to the bottom”. He contin...
2009-11-27 06:48:56
Newbuilding market grows 40%
The world's shipbuilding market seems to have grown to approximately JPY 11 trillion in 2008 in terms of sales. According to Japanese newspaper Kaiji Press tally, based on statistics from major shipbuilding countries, the combined sales of newbuil...
2009-11-27 06:43:47
IPIC refuses ICC arbitration
Abu Dhabi state enterprise International Petroleum Investment Company (HANOCAL/IPIC Int'l) refused to fulfill judgement by ICC International Court of Arbitration. IPIC said, in a letter sent to Hyundai Heavy Industries of South Korea on November 22nd...
2009-11-26 11:55:26
Rush for survival
South Korean major shipbuilders appear busy looking for ways to survive prolonged crisis. STX Business Group has recently held management strategy meeting for 2010 and it plans to further diversify its business portfolio into new energy businesses...
2009-11-26 06:19:49
Sekwang confirms restructuring
South Korea’s specialist vessel shipbuilder Sekwang Heavy Industries said Wednesday that it has embarked on restructuring in a bid to adapt to current market situation. An official from the company said key executives were newly appointed and so...
2009-11-25 13:24:06
LPG carrier sold for $320 per ldt
Shipbreakers have paid $4.7m for a Sammy Ofer-controlled LPG carrier, according to a market report. The 15,000-cbm Sussex (built 1981) was sold for scrap in Bangladesh for $320 per ldt, US-listed StealthGas says in its weekly market update. I...
2009-11-25 07:24:10
Alang breakers in PPP model
With a view to boosting the shipbreaking industry in Gujarat, the state government has decided to develop, maintain and operate the Alang shipbreaking yard near Bhavnagar on a public-private partnership model. In this connection, Infrastructure Le...
2009-11-25 07:05:14
Delays threaten SLS resale deals
Gulf Navigation may be in the mood to take over a large tanker fleet but it may be abandoning an order for two products tankers at SLS Shipbuilding in South Korea, foreign media reports. It acquired the 44,000-dwt newbuildings as resales from Stol...
2009-11-24 07:33:07
STX cuts 351 jobs
Shipbuilding giant STX group is cutting 351 jobs in France through voluntary departures at the Saint-Nazaire shipyard, yard officials said. The French yard employs around 2,410 people and has received no new orders for civilian vessels since 2007...
2009-11-24 06:58:30
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