General
ASEF member calls for IMO
The second session of the year-old Asian Shipbuilding Experts’ Forum in Changwon, South Korea, has revealed divisions over its possible role as a representative voice at the International Maritime Organization. A call to prepare for non-governmenta...
2008-11-21 06:57:32
Somalia attacks set to spur switch to Suez
AP Moller-Maersk may be on the brink of ceasing to use the Suez Canal, instead choosing to reroute its ships via the Cape of Good Hope, thereby avoiding proximity to piracy-prone Somalia. A spokesman for Europe’s biggest shipowner said a decisi...
2008-11-20 07:02:43
Axe ‘a good move’
Navios was right to walk away from a dozen newbuildings following the recent crash in vessel values and dry-bulk rates, a top analyst says. Chopping the three unchartered capesizes, six Kamsarmax and three handysized newbuildings has improved its ...
2008-11-19 09:01:24
CIMC buys 10% stake of Raffles
On Nov. 5, China International Marine Containers (Group) Co., Ltd.(CIMC) announced the completion of the acquisition of Yantai Raffles Shipyard Limited’s equity stake and it had bought 10% stake of Yantai Raffles by NOK 16.25 per share. March 13, 2...
2008-11-18 08:52:52
The increase of export tax rebate rate brings positive effec...
The increase of export tax rebate rate has a great impact on Chinese shipbuilding industry. Order-receipts in Chinese shipbuilding industry mainly come from overseas (occupy about 70% or above of the entire sales), for instance, above 75% of the s...
2008-11-17 15:17:06
Ample tonnage 'suppressing' VLCC market
Players say that ample tonnage for VLCC voyages from the Middle East Gulf (MEG) is suppressing spot rates. Tankerworld data shows average VLCC spot rates on all routes have stayed below the WS 100 mark for a month, led by benchmark voyages East f...
2008-11-17 11:01:30
Goa Shipyard Limited receives 'Best Performing Shipyard...
Panaji (PTI): Goa Shipyard Limited (GSL), India's noted shipbuilding facility, was formally presented with the 'Best Performing Shipyard' award by Union Defence Minister A K Anthony at a function in Delhi. The award, constituted in the year 2005-06, ...
2008-11-17 10:22:34
Changes in supply and demand of repair yards
Ship repair demand would be decreasing thanks to shipping market slump and financial stringency. This is because tonnage on the market is expected to diminish as old-ship breakings and newbuilding cancellations are increasing. Meanwhile, some predict...
2008-11-14 15:54:41
Hanjin says no decision yet on shipyard
Hanjin Heavy Industries said Wednesday it had not yet made a final decision on whether to drop its $2bn shipyard project in the southern Philippines. A Hanjin official said, "It is true that the project is suspended, but nothing has been decided on w...
2008-11-13 11:14:36
Scrapping up as old ship prices plunge
Ship scrapping accelerated in India, Bangladesh and Pakistan after a plunge in the price of obsolete carriers attracted buyers, the largest cash purchaser said. The demolition sale price of a general cargo ship based on its empty weight, so-called li...
2008-11-12 10:05:16
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