DSME labor union showing maximized egoism
Dark clouds are hanging over the sale’s process of Daewoo Shipbuilding & Marine Engineering (DSME) due to DSME labor union’s obstruction. Till November 24, Hanwha consortium’s ongoing DSME-undertaking process has not yet started the detailed in...
Financing support given after restructuring?
In South Korea, small- and medium-sized shipbuilding companies are facing difficulties as financial crisis deepens but there seems to be no adequate measures being offered. Although government authorities encourage them to utilize the ‘Fast-Trac...
Rizhao Steel abandons ship
Between October 18 and 24 this year, Rizhao Steel preordered a 170,454dwt cargo ship “Capeeregli” built by Japan’s IHI Corporation in 2000. This cargo ship was to be sold to Rizhao Steel for USD 142.5m in July 2008, but after the re-negotiation...
Yantai Raffles celebrates Taisun’s first commercial lift
Yantai Raffles Shipyard Limited (YRS) celebrated the much anticipated First Commercial Lift by Taisun amidst a blaze of fireworks and the expectant gaze of the 750 strong local as well as international guests who were all gathered at the Yantai Raffl...
Hyundai launches tanker for Russian Far East shipping compan
South Korea’s Hyundai Heavy Industries has launched a new 104,000-dwt oil tanker ordered by Russia’s Primorsk Shipping Corporation (PRISCO), the PRISCO press office said on Wednesday. The launch ceremony was held in the South Korean port of Ul...
Transpetro delays newbuildings
Transpetro is delaying a proposed 23-tanker tender in the hopes that falling steel prices push down the cost for the newbuildings. The Brazilian owner, the logistics arm of oil and gas company Petrobras, will put off bidding until 2009. "Even thou...
Metrostar scraps 10 newbuilding orders at Jinse
Greece’s Metrostar Management has reportedly cancelled 10 of its series of handysize bulker newbuildings at Jinse Shipbuilding. A source close to the Theodore Angelopoulos controlled group said axing the orders was relatively “easy” as the n...
Japan ship orders decline
Japan received orders for export ships totaling 571,810 gross tons in October, down 83.9 percent from the same month a year ago, according to figures released by the Japan Ship Exporters’ Association. The sharp decline in export orders received by ...
Cochin Shipyard building 20 offshore vessels
The public sector Cochin Shipyard Ltd is in the process of constructing 20 offshore vessels, valued at Rs 3,000 crore (USD 604 million), for European and American clients. The projects being undertaken excludes the indigenous aircraft carrier for ...
Chinese overcapacity puts themselves in danger
Since the beginning of this year, due to the expansion of financial tsunami, the slump and sluggish demand have been occurring in global economy and overseas market. This directly led to the downturn in shipbuilding industry. The world’s new order-...
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