Shipbuilding
STX OSV reports growth
STX OSV reports third quarter results that include growth in revenue and operating profit of 57 percent and 52 percent respectively, compared with the same period last year, reaching NOK 3.4 billion and NOK 557 million respectively. Margin increa...
2011-11-15 07:23:56
Japan profits to drop
Japan's six heavy-industries and four medium-sized shipbuilders all reported their estimated closing accounts for 2011 financial year. Five heavy-industry players' shipbuilding division and two of shipbuilders prospected profit decrease due to str...
2011-11-14 11:28:51
China into full-fledged restructuring
Moves by the Chinese government to slow down vessel deliveries at domestic yards may be unworkable but industry consolidation could be the answer to the troubled market. Attempts by Beijing to “guide” deliveries as it confronts overcapacity h...
2011-11-14 07:47:50
Chinese face rough waters
China's shipbuilding industry, the world's largest by capacity, is struggling with some smaller shipyards on the brink of bankruptcy as orders dry up amid global economic uncertainties. New orders of China's more than 2,000 shipyards plunged 43 pe...
2011-11-14 07:25:09
Hyundai Mipo profit plunges
South Korea's Hyundai Mipo Dockyard announced its tentative earnings report on 11 November. Hyundai Mipo's operating profit for the third quarter decreased by 50.8% to KRW 70.7bn ($62.8m) on the same period last year, on K-IFRS stand-alone basis....
2011-11-14 06:51:56
Russia begins Ultra-Modern yards
Russia has commenced the construction of two ultra-modern shipyards, Vostok-Raffles and Zvezda-DSME in the country’s Far East, the Russian government press office said. According to Russian Prime Minister Vladimir Putin who chaired a working mee...
2011-11-11 15:19:26
Hanjin normal starts!
South Korea's Hanjin Heavy Industries & Construction signed a final company-labor agreement in the late afternoon on 10 November. Hanjin management-labor union officially agreed to put efforts to normalization. President Lee Jae-Yong said, "Shi...
2011-11-11 09:49:25
JinLing in handy BC spree
China’s CSC JinLing Shipyard is landing orders for a number of handysize bulkers. Ariston Navigation of Greece has ordered six handysize bulkers at the yard. The 35,000-dwt vessels are costing about $24m each and deliveries will take place b...
2011-11-11 08:56:59
COSCO Guangdong pens 35K BC
COSCO Guangdong Shipyard has won an order for a 35,000-dwt bulker from Harbor Shipping & Trading of Greece. Harbor confirmed it inked the handysize at the yard. It also ordered a 57,000-dwt bulker at the COSCO Shipyard affiliated yard at the sa...
2011-11-11 08:38:34
Daewoo inks VLCC pair
Greece's shipowner Almi Tankers has reportedly ordered two Very Large Crude Carriers from South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering. The contract is thought to be worth around $210m in total. Both are 320,000-dwt vessels...
2011-11-11 07:52:55
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