Shipbuilding
Liquidity Problem Worsens
Korean shipbuilding companies' cash and cash equivalents in possession dropped by up to 70% during one year. Shipbuilders had trouble acquiring cash through downpayments because of the worst orders drought ever and receiving remaining balance due...
2010-03-17 06:50:45
Domestic demand supports China
As the largest shipbuilding base, the newbuilding output of Jiangsu Province reached 15.46m dwt in 2009, rising by 74% against a year earlier and occupying over 20% of global share. Last year, the shipbuilders in Jiangsu were so busy but how about...
2010-03-16 16:06:46
Cosco aims at new orders
A Chinese shipbuilder acknowledges that prices are under pressure from investors seeking a bargain. The president of Cosco Shipyard Group says new orders, not cancellations, are the focus of his attention. "Contract cancellations? That's last...
2010-03-16 07:46:05
German yards fear for the future
Several changes of ownership after German reunification haven't improved the outlook for the once-proud Baltic Sea shipyards of Rostock and Wismar. But now there could be a glimmer of hope on the horizon. Before the eastern German shipyards in Ro...
2010-03-16 07:30:53
Newbuilding Continues Upturn
Newbuilding market is continuing the upward turn for the past one month. According to Seoul-based Woori Investment & Securities, the newbuilding prices for suezmax tanker and 3,500-teu containership rose by $0.2m and $0.5m respectively to $62m and...
2010-03-16 07:06:23
Victors' Celebration
As Korean major shipbuilders resume to take general merchant ships orders, who have been holding out since the financial crisis, background of the orders intake is becoming an issue in the industry. Samsung Heavy Industries (SHI) took a nine suez...
2010-03-16 07:03:25
‘Three Kingdoms’
As global financial crisis broke out, a relay race is performing among ‘Three Kingdoms’, namely China, Korea and Japan. In 2009, Chinese shipbuilding bagged 44.4% of new orders and replaced Korea’s championship in global shipbuiding industry...
2010-03-15 12:41:26
Hanjin set to ink suezmax
Korean shipbuilder Hanjin Heavy Industries & Construction is reportedly set to sign its first suezmax tanker order. It is said to be in the final stage of negotiations with Singapore’s Tanker Pacific to build two suezmax tankers and a formal con...
2010-03-15 07:25:36
DSME builds Handy in China
Daewoo Shipbuilding & Marine Engineering (DSME) of Korea begins newbuilding business in China after constructing a shipyard there. According to an industry source, DSME is reportedly discussing newbuilding business utilizing DSME's 1m m2 (330,000...
2010-03-15 07:14:29
Green-Smart Ship Cruising
A 'Green-Smart Ship', an IT applied ship powered by electricity will be built as early as 2015. Korean Ministry of Knowledge Economy (KME) announced on Mar. 14th that it will design a mid-and-long term roadmap to foster the next generation shipbui...
2010-03-15 07:12:19
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