General
Turkish shipbuilding continues to grow
Foreign Trade Minister Kursat Tuzmen has said Turkey will continue to grow in the shipbuilding industry, improving its standing as the third largest yacht builder in the world and eighth in shipbuilding. Speaking in Kocaeli Tüzmen said shipbu...
2009-04-27 13:25:46
Daewoo wins submarine deal
Daewoo Shipbuilding & Marine Engineering (DMSE) of South Korea has recently received a contract for upgrading Indonesian submarine for $75m, quenching its thirst for new order. According to the deal, DSME will upgrade Indonesian Navy’s submarine...
2009-04-27 11:30:33
SLS chemical tanker changes hands
A chemical tanker newbuilding at a South Korean yard appears to have changed hands for $34m, although details on the transaction are limited. A brokerage source reports Friday that Italian interests have purchased a 40,037-dwt unit on order at SLS S...
2009-04-27 07:42:30
Sea Asia 2009 proves successful
Sea Asia 2009 ended on a high note last week as organisers Seatrade and the Singapore Maritime Foundation confirmed that more than 10,000 people attended the three-day event at Suntec Singapore. SMF chairman, Mr SS Teo said: “Sea Asia 2009 has ...
2009-04-27 07:24:27
Clouds gathering over Gdansk shipyard
European Commissioner for Competition Neelie Kroes has rejected the restructuring plan for Gdańsk shipyard. According to Kroes the plan fails to prove that after restructuring the plant will be profitable. She argues that state aid envisaged ...
2009-04-24 08:01:23
Bulker scrapping reach 99 ships in Q1
The volume of demolished bulkers in January-March 2009 reached 99 units, aggregating 4.08 million dwt, according to the U.K.-based Clarkson Research. Broken down, the vessels were made up of five Capesizes (with capacity above 100,000 dwt) of 790,000...
2009-04-24 07:50:31
Just 5, optimum number of Majors?
The internal document, which reported that the South Korean government has determined that the optimum number of shipyards in the country is "five major builders," has been made public, causing quite a controversy in the country. There are current...
2009-04-24 07:45:58
China Cosco in talks upon delivery delays
China Cosco Holdings Co, the world’s largest operator of dry-bulk ships, said it’s in talks to delay or cancel orders for new vessels after slumping to a second-half loss on plunging freight rates, writes Bloomberg. “The prospect for the dr...
2009-04-24 07:39:51
Siestas cuts a third of its jobs
Hamburg shipyard Sietas plans to cut one third of its 880 jobs, managing director Rüdiger Fuchs has said. The job cuts, which will take place in the third quarter of 2009, are part of a reorganisation plan to rescue the yard. “Instead of c...
2009-04-24 07:28:31
VLCCs meet Atlantic oil storage needs
Owners of very large crude carriers are ballasting their tankers from the Indian Ocean to the Atlantic to capitalise on strong demand for oil storage requirements. Demand for VLCCs strengthened in the Atlantic market since the start of last week, ...
2009-04-24 07:20:09
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