General
Buyers avoiding China yards’ resales
China’s greenfield shipyards with little experience are finding it hard to sell cancelled, partly-built newbuildings. Unresolved legal issues with the previous owners and concerns over ship quality are keeping buyers away. "Most of the cancel...
2009-07-24 15:04:59
Cochin wins new orders before IPO
India’s biggest state-owned shipbuilder Cochin Shipyard will likely get a valuation boost after receiving orders for four vessels from government-owned Shipping Corporation of India (SCI) ahead of a proposed initial public offering (IPO) of shares....
2009-07-24 07:28:38
Daehan appoints new chairman
Daehan Shipbuilding of South Korea has assigned former STX Energy consultant Lee Sang-ok (pictured) to its new representative director. The shipbuilder on July 23rd held a board meeting and elected Mr Lee chairman and representative director. D...
2009-07-23 13:27:25
Cancellations spread across the board
Cancellation of ship orders may have caught the industry’s attention but there is a growing body of evidence suggesting that cutbacks and cancellations are now endemic across all maritime sectors. Smaller ship repairers report that repair and ma...
2009-07-23 07:12:26
Sellers beware of shipbreaking entrants
Shipowners are being warned to be wary of doing deals with newcomers into the shipbreaking market. US-based cash buyer GMS is reporting increasing numbers of price renegotiations at Alang in India and in China as big numbers offered by new players...
2009-07-22 07:16:05
EU seek crisis response
Europe’s marine technology and shipbuilding industries need stronger coordination to overcome current market difficulties. In many industry sectors there have been calls to national governments to step in and provide aid. Some yards have also so...
2009-07-22 06:57:17
Confusion over EU shipbuilding aid
The European Union’s policy on aid to struggling shipbuilders was thrown into confusion after a top official denied the European Commission was working on incentives to scrap old ships. A senior official from the commission’s directorate-general ...
2009-07-22 06:48:50
Jeffboat shipyard to cut 10% of workers
The Jeffboat shipyard of the US will eliminate 10% of its workforce, parent American Commercial Lines (ACL) said Monday. About 120 jobs will be cut by the end of this week, ACL spokesperson Dave Parker said. The Jeffersonville, Indiana, facility w...
2009-07-21 07:25:17
Daewoo raided by officials
Daewoo Shipbuilding & Marine Engineering’s headquarters in Seoul, South Korea have been raided by officials from the Central District Prosecutors’ Office, who seized accounting ledgers and computer hard drives. A branch office in Geoje, South...
2009-07-21 07:17:36
Yard blast kills two in Brazil
Two people were killed and four suffered injuries after a barge exploded at a shipyard in Brazil. The explosion rocked Niteroi's low-profile Control shipyard Thursday after gas accumulated in a tank-barge at the facility. The initial casualty coun...
2009-07-20 07:08:39
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