Shipbuilding
COSCO inks kamsarmax
COSCO Corp (Singapore) has secured an order for two more bulkers. The company said the 82,000-dwt vessels will be built at its COSCO Zhoushan Shipyard in China for delivery in the second quarter of 2013. They are costing $68m, but the owner i...
2011-11-04 07:49:33
Beijing adjusts NB deliveries
Beijing plans to intervene with newbuilding deliveries from domestic yards in a move which could soften the impact of oversupply. Transport Minister Li Shenglin told a conference the government would “guide the arrival of new container and dry-...
2011-11-04 07:28:54
Big3 Flounder
Global economic downturn and higher costs dampened South Korean shipbuilders' profitability. Operating profits of major yards in the third quarter were halved on the same quarter last year, Hyundai Heavy Industries, Samsung Heavy Industries and Da...
2011-11-04 06:58:06
Kawasaki profit plummets
Kawasaki Heavy Industries of Japan reported its business performance for April-September 2011. During the same period, revenue dropped by 13% to JPY 53.1bn ($679m) due to decrease in large-vessel sales. Meanwhile, operating profit based on consoli...
2011-11-03 11:59:19
Chinese yards face restructuring
Chinese shipbuilding industry, less competitive in high-value ship sector, is likely to face restructuring. During a international forum regarding global shipping market in 2012, Kim Wu-Ho from Korea Maritime Institute (KMI) explained, "China woul...
2011-11-03 10:49:38
Metrostar wins Korean RG case
Greek shipping group Metrostar has won a landmark judgment in the UK Supreme Court in a refund guarantee row with South Korea’s Kookmin Bank. The bank contested its duty to repay shipbuilding instalments on a series of handysize bulk carrier new...
2011-11-03 08:06:23
Mitsubishi pens Cruiseships
Mitsubishi Heavy Industries (MHI) announced on November 2 that it has completed two shipbuilding contracts with Carnival Corporation & plc, for the construction of two large-sized cruise ships for Carnival's AIDA Cruises brand. Delivery of the tw...
2011-11-03 08:00:37
CSBC profit down 70%
Taiwanese shipbuilding group CSBC Corp has posted a 68% drop in third–quarter earnings. The company said net profit in the three months to 30 September was TWD 223m ($7.4m), slipping from TWD 689m in the same period of last year. Revenue...
2011-11-03 07:39:58
Daesun books $73m new order
South Korea's Daesun Shipbuilding & Engineering has recently inked newbuilding orders for 2+2 35,000-dwt bulkers and 1+2 vessels of 14,000-dwt general cargo vessels from a shipping company in Europe. Daesun reveals that 14,000-dwt general cargo ve...
2011-11-02 16:00:33
Tata NYK orders Supramaxes
Tata NYK Shipping has ordered three new bulkers in Japanese yards. The joint venture between Japanese shipowner NYK Line and Indian steel group Tata has inked the supramaxes at Tsuneishi and Oshima shipyards for delivery in 2012 and 2013. The...
2011-11-02 07:56:45
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