Shipbuilding
MR tanker orders grow
In 2011, about 30 MR product carriers were reported to have been ordered mainly to South Korea's shipyards. Despite a downward trend of current shipping market, shipowners appear to resume orders with bottomed ship price and operation of large oil...
2011-08-17 10:50:15
Boxships getting larger & larger
Containership owners enlarging the size of existing ships and newbuildings on order will push the proportion of vessels over 5,100 teu to more than 50% of the fleet by 2014. In three years’ time vessels over 10,000 teu will also make up 17% of t...
2011-08-17 07:05:30
Hyundai 13,100TEU resale
Norwegian investment company SinOceanic Shipping has snapped up a large MSC containership newbuilding. The owner, backed by Chinese cash, has agreed to buy a 13,100-teu vessel being built at South Korea's Hyundai Heavy Industries (HHI) for delive...
2011-08-17 06:52:39
HMD Q2 profit halved
On Aug 16th, Hyundai Mipo Dockyard of South Korea announced operating profit in Q2 to drop by 46.7% to KRW 113.1bn ($105.5m) on K-IFRS (Korean International Financial Reporting Standards) consolidated basis from the same period last year. During A...
2011-08-17 06:08:38
Chinese Counterattack
Chinese shipbuilders will win the lion’s share of fresh newbuilding orders in the second half of this year, Clarksons says. South Korean yards claimed pride of place in the first six months of the 2011 by winning orders worth $31.4bn, more than...
2011-08-16 07:06:22
Gulf Nav to order VLCCs
Dubai-listed Gulf Navigation is looking to order a couple of VLCC newbuildings in China. It is making efforts to set up a new VLCC joint-venture in Saudi Arabia, it tells investors, and “significant steps” have been taken to establish the Saud...
2011-08-16 06:40:56
Who's Hyundai's steady customer?
South Korea's Hyundai Heavy Industries had won the largest number of orders from shipowners in Germany and Greece. Having delivered its first ship in June 1974, Hyundai has maintained world No.1 shipbuilder in terms of handover totaling 1,670 vess...
2011-08-16 06:18:28
Sungdong inks 82K BC's
South Korean shipbuilder Sungdong Shipbuilding & Marine Engineering has won an order for two kamsarmax bulkers. South Korea's Mirae Asset Securities and Global Marine Finances announced on Aug 12 to have struck hands with Cargill of the US, an int...
2011-08-12 11:40:21
Catic wins 3,800TEU's
Carsten Rehder of Germany has inked a deal worth up to $200m for up to four wide-beam containerships to be chartered to German liner operator Hamburg Sud. A firm order for two 3,800-teu newbuildings has been placed with China’s Taizhou Catic Sh...
2011-08-12 10:48:10
Beihai inks 82K BC pair
Formosa Plastics Marine Corp (FPMC) has returned to the newbuilding scene after a four-year break. The shipping arm of industrial conglomerate Formosa Plastics Group has ordered two 82,000-dwt bulker newbuildings from state-owned Qingdao Beihai S...
2011-08-12 08:02:27
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