Golden Ocean scales back shipbuilding plan
Bulk shipping company Golden Ocean posted a bigger-than-expected rise in third-quarter underlying net profit on Monday, and said it aimed to reduce, postpone or refinance its $1.6 billion shipbuilding programme. Underlying net profit, which excludes ...
Creditors OK debt rescheduling plan
Creditors of C& Heavy Industries Co., a shipbuilding affiliate of South Korea's C& Group, said Wednesday they temporarily approved a plan to reschedule debts owed by the shipbuilder. The creditors, led by Woori Bank, said they would allow C& Heavy...
China’s JES International seeking clarification
China’s JES International is seeking clarification from troubled shipowner Parkroad over a series of four panamax bulker newbuildings. It says it has written to Parkroad to enquire whether its current financial problems will have any bearing on ...
Shrinking NB orderbook
South Korean shipbuilders’ orderbook has taken a downturn as newbuild order intakes sharply declined thanks to global financial crisis and economic turmoil in recent months. According to industry sources, Hyundai Heavy Industries’ newbuilding ...
Asean’s 1st Submarine Support Vessel
Singapore Technologies Marine Ltd (ST Marine), the marine arm of ST Engineering, successfully launched Swift Rescue, Asean’s first Submarine Support and Rescue Vessel (SSRV) on Saturday, 29 November 2008 at its main yard in Benoi. ST Marine had ...
The world’s 382 units canceled
Due to the financial turmoil and economic recession, the world’s newbuilding order-receipts cancelation, according to Singapore’s Pacific Carriers (PCL), amounts to about 382 units. It includes 241 units of dry bulk cargo ships which occupies 63%...
CSSC’s ship building base successfully settles in Zhuhai
According to the 14th meeting of 7th National People’s Congress, Zhuhai has made an important breakthrough. Under the joint efforts of related departments, CSSC’s Huanan large shipbuilding base successfully settled down in Zhuhai and it has start...
Shipbuilders see smooth sailing ahead
Ship horns blared, a red fireboat spurted fountains of water, and cameras flashed on Thursday to mark the delivery of Moose, the last of eight navy training vessels built by Victoria Shipyards. The 33-metre Orca-class vessels were built for $86 milli...
Mitsubishi defers cruiseship building
Japan’s Mitsubishi Heavy Industries has postponed plans to get back into cruiseship construction as early as 2012 after a US cruise line scrapped talks on newbuildings. The Nikkei Daily reported that the yard was believed to have been in the fin...
VLCC delivery surge may drive rates down
An influx of new VLCCs during the fourth quarter is the beginning of a delivery surge which will drive tanker rates down, a leading analyst warns. And the much-hyped cancellation of a large chunk of next year’s orderbook will not come to the res...
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