Shipbuilding
Bottom fishing: Xiamen inks bulkers
On February 8th 2010, China’s Xiamen Hongxin Shipping, a subsidiary of Hongxin Group, signed a contract with Xiamen Shipbuilding Industry to build two 57,000-dwt handymax bulk carriers. Hongxin became the first private company in Xiamen to buil...
2010-02-10 14:47:21
Rising cancellations
Newbuilding contracts without guarranteed financing, a common phenomenon for those signed during 2008, are expected to be cancelled in the coming months, especially as owners are still looking to get rid of expensive vessels. By today’s standar...
2010-02-10 09:42:55
China's ship exports up 45%
Despite the financial crisis, China's ship exports totaled 28.36 billion US dollars last year, up 44.92 percent year on year, thanks to the government's stimulus plan for the shipbuilding industry. Bulk cargo vessels took the place of container s...
2010-02-10 09:35:10
Daewoo pre-signs VLCCs
Greece’s Almi Tankers has inked a letter of intent with Daewoo Shipbuilding & Marine Engineering for two 318,000-dwt VLCCs, following up its surprise pre-Christmas order for 10 suezmaxes at the same Korean yard. Neither side foresees any obstac...
2010-02-10 07:40:27
Daewoo targets 80 deliveries
One of Korean shipbuilding giants Daewoo Shipbuilding & Marine Engineering (DSME) is forecast to achieve all-time high newbuilding deliveries this year with the widest range of ship types. DSME plans to roll out about 80 ships this year and expand...
2010-02-10 07:01:54
Signs of recovery scarce
The newbuilding market which showed a glimmer of recovery at the end of last year seems to be coming to a lull again. This is because the balance between the demand and supply in the newbuilding market has not improved. In addition, the newbuildi...
2010-02-10 06:59:01
Norwegian owner faces bankruptcy
Norwegian SeaMetric International AS (SMI), the owner of the world's largest twin marine lifter (TML) built in China’s CPLEC, is facing bankruptcy due to heavy liabilities as high as $125m. The representative of SMI said any buyer who showed int...
2010-02-09 12:51:22
STX pens two tankers
STX Offshore & Shipbuilding announced today that it has recently signed a newbuilding contract with Italy’s L.G.R. for two 50,800-dwt product/chemical tankers. The vessels will be built at STX O&S’ Jinhae Shipyard in South Korea for delivery i...
2010-02-09 10:16:32
New orders hit 13-year low
Figures from Clarkson Research Services show a bleak 2009 forced newbuilding prices down some 22%. Newbuilding prices are back to where they were almost six years ago after orders hit a 13-year low. The slump has been highlighted by shipbroker ...
2010-02-09 08:17:24
Hyundai-Vinashin plans 5 deliveries
A Vietnam-based joint venture of Hyundai Mipo Dockyard, a sister company of Hyundai Heavy Industries of Korea, Hyundai-Vinashin Shipyard (HVS) has delivered its first ship of this year. HVS delivered the ‘E. R. BILBAO’, with the scale of 187....
2010-02-09 07:07:05
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