General
Asian navy buildup a fillip for shipyards
The governments of Japan, Korea and China are set to come to the rescue of many big, well established yards once again during the downturn, and this time not through subsidies, but huge investments in navies. Agence France Presse quotes naval consult...
2009-05-18 07:22:23
Shipyard in Cebu to cut half of its work force
Cebu’s pride and one of the Philippines first shipbuilding yards, FBMA Marine Inc., announced on Thursday the retrenchment of close to half its work force with the absence of orders for new vessels and no clear end in sight for the global economic ...
2009-05-18 07:17:31
Aged capesize sold below $10m
Price of a secondhand old capesize bulker aged above 20 years has dropped below $10 million. According to market reports, a Chinese operator recently purchased a 23-year-old 170,000-dwt bulker completed in 1987 at South Korean yard Hyundai Heavy ...
2009-05-15 11:24:51
Hyundai Corp rejects Hyundai Heavy bid
Hyundai Heavy Industries, the world’s largest shipbuilder had its bid for trading and resourcing company Hyundai Corp rejected by shareholders. A source at Korea Exchange Bank, one of eleven major shareholders in Hyundai Corp, said the auction h...
2009-05-15 07:20:25
Lisnave outperforming management goals
Despite the bleak shipping markets, Lisnave continues to perform well — as regular customers keep on returning their vessels to the Setúbal facility for repairs. Lisnave, one of Europe’s largest shiprepair facilities, saw a slight d...
2009-05-14 11:47:48
Goldenport sells two boxships for scrap
Two more elderly ships look to heading out the door at Greek owner Goldenport Holdings. The London-listed owner has shifted charter contracts from the containerships set for the chop to newer ships in advance of the clear out. The 2,258-teu MSC So...
2009-05-14 07:43:44
Buoyant Asry ready for expansion
Shiprepair and maintenance in Bahrain is dominated by the Arab Shipbuilding and Repair Yard Co, although there is a much smaller facility, Basrec, in the now closed commercial port of Mina Salman, which specialises in tugs, workboats and other smalle...
2009-05-14 07:32:27
Shipbuilding-marine equipment merge
France’s two principal shipbuilding and marine equipment groupings are to merge in a move that promises to speed up the development of closer ties between the country’s civil and naval shipbuilding sectors. The Chambre Syndicale des Chantiers Nav...
2009-05-14 07:00:44
HMD union makes concession
Labor union of Hyundai Mipo Dockyard (HMD) of South Korea has entrusted all wage-related decisions to the company on condition of job security, following the same move of Hyundai Heavy Industries union. Hyundai Mipo union on May 13th took a vote o...
2009-05-14 06:19:06
Hanjin Shipping sells product carriers
It appears that Hanjin Shipping, through its tanker operating arm Hanjin Overseas Tanker Pte Ltd., has sold two of its product carriers. The buyer has yet to be identified. According to information from overseas, Hanjin has sold the Bumi Nusantara an...
2009-05-13 11:56:04
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