Shipbuilding
Wuchang delivers record high
Wuchang Shipbuilding Industry, the Wuhan-based shipbuilder controlled by state-owned China Shipbuilding Industry Corp, successfully staved off the shipping downturn in 2009 with a record number of deliveries valued at Yuan10bn ($1.4bn). The shipy...
2010-02-03 07:20:53
Persistent slump in shipbuilding
Economy of southwestern part of South Jeolla province is expected to falter this year as production and exportation of manufacturing industry are projected to decrease resulting from the slump of shipbuilding industry. Bank of Korea Mokpo branch s...
2010-02-03 06:58:22
Record-breaking march ends
Korean shipbuilders posted the highest performance on record last year but it is worried that their record-breaking march might come to an abrupt end this year. Hyundai Heavy Industries had reported all-time high revenues every year since 2001. In...
2010-02-03 06:41:50
Daewoo prepares restructuring
As a dry spell in new orders continues, Korean shipbuilders are coming up with countermeasures in earnest. Hanjin Heavy Industries & Construction is planning to cut 30% of its workforce and Daewoo Shipbuilding & Marine Engineering is preparing an ...
2010-02-02 15:07:54
‘Restructuring unavoidable’ Hanjin says
South Korea’s fifth largest shipbuilder Hanjin Heavy Industries & Construction said on Feb. 1st, “Amidst the worst-ever recession in shipbuilding market, restructuring is an inevitable process for the survival of the entire company.” The man...
2010-02-02 12:10:46
Humpuss orders seven
Indonesian shipowner Humpuss Intermoda Transportasi (HIT) said it will buy seven barges to boost its coal carrying capacity. The units will cost a combined IDR 215bn ($23.4m) from a shipyard in Batam, with work beginning in March. They should be ...
2010-02-02 07:34:30
Labor relations key to new orders
Labor relations at Fincantieri are a potentially critical issue as Carnival Corp considers where to build a new generation of cruiseships for its Princess brand. Speaking at Saturday’s delivery ceremony for the Costa Deliziosa in Venice, Carniv...
2010-02-02 07:17:43
Backlogs Red Alert
The worst-ever order drought is continuing for more than one year and South Korea’s major shipbuilders saw their order backlogs plummet last year. According to Clarkson Research data, Hyundai Heavy Industries (Ulsan headquarters)’ orderbook st...
2010-02-02 06:37:30
Daesun cancels newbuilding contracts
South Korea's Daesun Shipbuilding & Engineering made a public announcement on Jan. 29th that it had cancelled a bulker newbuilding contract with a European shipowner Bright Navigation. Daesun had signed a KRW 39bn (USD 33.35m) contract of building...
2010-02-01 16:05:10
CSSC speeds up south development
Its layout in south China will be the most important step, according to the development strategy China State Shipbuilding Corporation (CSSC) makes for 2011 to 2015. Currently, related top executives busy themselves with the research of details. Ta...
2010-02-01 07:12:29
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