General
New players drive up shipbreaking prices
There are a growing number of capesizes whose demolition prices exceed $300 per light displacement ton. Breakers in Bangladesh and other countries have been closing deals at relatively high rates. In Bangladesh and China, it seems that new scrappi...
2009-08-14 07:34:47
Scrap ships jump 1,248%
According to statistics from China National Ship Scrapping Association (CNSA), the country has imported 210 overage ships for scrapping totaling 1.62m ldt (light displacement tons) in the first half of this year, up 1,248% year-on-year in ldt terms. ...
2009-08-14 06:45:55
Need for Long-Term Outlook
Thirty years ago, an executive who wanted to build a conglomerate in South Korea had only one formula to follow: first persuade the government to provide capital and market protection, such as tariffs and regulations, then launch the business. But...
2009-08-13 10:22:09
2nd VLCC sold for scrap
The sale for demolition of the second VLCC for this year has surfaced. According to information received from abroad, a Greek owner has sold the single-hull 248,000-dwt Kolossi (built in 1988) to a Bangladeshi dealer. The vessel was sold for the p...
2009-08-13 07:35:12
China enters big 3 shipbreaking nations
According to statistics from the Greece-based Allied Shipbreaking, Chinese shipbreaking yards have scrapped a total of 63 ships totaling 2.4m dwt during the past seven months and China has become the third largest shipbreaking country surpassing Paki...
2009-08-13 06:48:46
State-backed orders under fire
A Taiwanese shipowner has launched a stinging attack on state-sponsored fleet expansion in Asia following a four-bulker order at a struggling state-backed Taiwanese yard. Hsu Chih-Chien says private shipowners are being squeezed out at the expense...
2009-08-12 07:20:46
Daewoo buys US wind power firm
Daewoo Shipbuilding & Marine Engineering of South Korea said Tuesday that it took over DeWind Inc, a subsidiary of Composite Technology Corp (CTC) of the US, for some $50m to strengthen its wind power generation business. DeWind has been manufactu...
2009-08-11 15:10:03
Price war looming in shipbuilding market
A price war could be looming as shipbuilders and marine engineering firms fight for business. While this could be seen as good news for shipowners, it will be a further challenge for European shipbuilding, repair and maintenance industries. Specia...
2009-08-11 12:07:45
China-Bangladesh lead scrapping surge
China and Bangladesh have led the way in the shipbreaking market over the last week, pushing prices above $300 per light displacement ton (ldt). But nothing was moving into India and Pakistan, according to US-based cash buyer GMS. In China, the...
2009-08-11 07:31:08
Glenda-SLS in dispute
Commodities company Glencore and South Korea’s SLS Shipbuilding are locked in a dispute over the return of $58m in installments for two delayed product carriers. Glencore’s Glenda International Shipping, joint venture with d’Amico Internatio...
2009-08-11 07:22:40
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