General
Workout plans in the offing
A second round of construction and shipbuilding firms in South Korea facing restructuring will lay out their workout plans by the end of the month, bringing forward the timeline, according to financial authorities. South Korea is increasingly worried...
2009-05-27 07:31:02
Roses in full bloom at Hyundai
Splendid full-blown roses are surrounding the world’s largest shipbuilder Hyundai Heavy Industries. The roses, straggling over the shipyard’s 4.2 km-long stone fences, are decorating the dynamic yard site where hefty cranes and some 45,000 wor...
2009-05-26 12:08:06
Ship scrapping volumes grow in China
Shipbreaking is accelerating in China, by common consent the world leader when it comes to recycling vessels in the most environmentally friendly way. Jiangyin in the Yangtze river delta is the leading area for breaking in China. A spokesman from...
2009-05-26 11:22:28
Keppel sells stake in SPC
Singapore shipyard group Keppel Corp is to bank a huge gain from selling its stake in the country’s oil refiner. It said the disposal of its 45.5% holding in Singapore Petroleum Co (SPC) will net it a profit of SGD 660m ($457m). Chinese oil comp...
2009-05-26 07:30:34
Scrapping mounts
Scrap prices rose last week as India, Pakistan, China and even Turkey snapped up elderly vessels. US cash buyer GMS said Turkish buyers took the 6,167-ldt ro-pax Mermaid II (buit 1972), previously operated by VV Line of Latvia, at $185 per ldt, up...
2009-05-26 07:22:35
Just ‘0.1m’ dwt
In April 2009, newbuilding contracting activity has exceeded the twenty vessel mark with 23 orders reported in the month. But the new contracts totaled just 0.1m dwt. Contracting has reached 65 vessels of 1.5m dwt by April this year. On an annuali...
2009-05-26 06:35:17
US shipyards win work
Todd Shipyards of the US has won a $5.51m vessel modification contract from the country’s coast guard. The Pacific coast yard will carry out repairs and alterations to the icebreaker USCGC Polar Sea. Its ship systems, engines and equipment will ...
2009-05-25 07:57:04
Imabari Maritime Fair "BARI-SHIP" opened
The Imabari Maritime Fair "BARI-SHIP", the first such exhibition in western Japan, opened at the Texport Imabari in Imabari city on May 21 with the participation by 179 related companies both at home and abroad. The exhibition, to run until May 23, i...
2009-05-25 07:53:37
Daewoo probed over slush fund
Daewoo Shipbuilding subsidiary Daewoo Shipbuilding & Marine Engineering Construction was raided by Korean prosecutors on Thursday, local news services have reported. The early morning raid was said to have been authorised due to suspicions of slu...
2009-05-25 07:31:43
Aeolos pursuing Guangzhou Dockyards
A Greek owner is pursuing a Chinese yard for $92.3m after it failed to convert a single-hull VLCC. Greek VLCC owner Aeolos Management has mounted a massive $92.3m legal claim against Chinese repair yard Guangzhou Dockyards. Legal documentation ...
2009-05-25 07:12:06
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