General
Local-Foreign clash over shipbuilder's predictions
Korean firms stay positive, but foreigners were right in 2008 Foreign and local brokerages picked up where they left off last year in a confrontation over the performance of local shipbuilding stocks in the new year. Just like last year, local...
2009-01-13 11:11:49
Demolition market: Five a day scrapped
Market turmoil has raised ship scrapping to its highest level in two decades, a leading broker says. Nearly half a dozen ships are currently heading for the torch every day with demolition prices defying gravity despite the increased activity, Glo...
2009-01-13 07:19:15
CSIC’s economic aggregate increased 30%
Although financial crisis caused steep downward trend in worldwide shipbuilding market, the recent statistics released by China Shipbuilding Industry Corporation (CSIC), the leading shipbuilder in Chinese shipbuilding industry, on Jan 10, 2008 reveal...
2009-01-13 07:12:20
Alfa Laval to cut jobs
Environmental engineering specialist Alfa Laval is to axe 1,000 jobs with order cancellations in its marine and diesel division a key factor. The Swedish group which manufactures oil water separators, ballast treatment systems, tank cleaning equipmen...
2009-01-13 07:05:19
Demolition Rush: Bulker
Almost 30 vessels have gone to the breakers with prices set to fall. Older bulkers are being phased out fast and as many as five panamaxes have been sold for demolition in the past couple of weeks. Eastern Mediterranean Maritime (Eastmed) of Gree...
2009-01-12 12:09:28
L&T plans to build new shipyard
Confident that the present economic downturn will not hit its ambitious Rs2,000 crore ($410m) shipyard plan near Chennai, Larsen and Toubro (L&T) said that to begin with it they would start building naval ships, particularly frigates and warships. ...
2009-01-12 07:37:39
Croatia's shipyards: one step nearer
The European Parliament’s rapporteur (investigator or monitor) for Croatia has reportedly approved the country’s shipyard sell-off and restructuring plan. Metal Workers' Union president Ivo Marjanovic told local media that Hannes Swoboda had ...
2009-01-12 06:37:44
Hyundai brings back retirees
The world's number one shipbuilder, Hyundai Heavy Industries, is bringing back some of its former employees, while many layoffs are expected among other domestic corporations this year. The shipbuilder recently signed a one-year contract with 560...
2009-01-09 11:49:17
LNG fleet passes 300-vessel mark
The in-service fleet of LNG carriers has passed the 300-ship mark. Reporting the development, specialist UK-based LNG carrier publication, LNG World Shipping, notes that it took 34 years for the fleet to reach 100 vessels and a further eight years fo...
2009-01-09 07:52:14
Selection of non-viable shipbuilders to be delayed
The planned restructuring of the struggling construction and shipbuilding industries will likely take more time than initially thought because of conflicts of interest among creditors over the selection of companies subject to an outright revamp. Pro...
2009-01-09 07:37:29
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