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Shipbuilding
Reckless boxship ordering slammed
German investors who ordered a vast number of containerships without any consideration of market need have been roundly criticised by NOL president and chief executive Ron Widdows (pictured). Mr Widdows said investors had brought the whole industr...
2009-03-06 07:10:03
Smaller feel crisis pangs: China
Despite the positive impact of a stimulus package announced by the government recently, China's shipbuilders, especially the mid- and small-scale players, would be deeply affected by the financial crisis, an industry insider told China Daily recently...
2009-03-06 07:02:05
Seaspan settles on delays of delivery
New York-listed containership owner Seaspan Corp is among the first to negotiate successfully delays in newbuilding deliveries with South Korean shipyards for 2009 and 2010. As many as half of the 12 newbuildings Seaspan had scheduled for deliver...
2009-03-06 06:56:59
Smaller yards suffer cancellation threat: S Korea
Restructuring of small- and medium-sized shipyards is facing possibility of running aground in South Korea. This is because foreign shipowners are canceling newbuilding orders at the shipyards which are undergoing work-out process, ‘saying’ th...
2009-03-06 06:18:17
Shipyard executives returning salary
The staffs of many South Korean shipbuilders have recently declared following one after another that they will return their pays or part of them amid global economic crisis. Hyundai Heavy Industries (HHI) president Choi Kil-seon announced Thursday...
2009-03-05 15:05:14
Poland to auction shipyards
Poland will begin the enforced auction next week of two shipyards that played a pivotal role in the collapse of communism in order to recoup $3 billion of illegal state subsidies. The Polish government will open tenders for the state-owned Szczeci...
2009-03-05 13:10:21
STX Europe cut steel for P&O’s huge ferry
The production of the first of the two huge ferries ordered by P&O Ferries started on the 3rd of March 2009 by cutting its first steel plate on STX Europe's yard in Rauma, Finland. The roro-passenger ferries to carry freight and cars are scheduled...
2009-03-05 07:58:38
Japanese shipyard merger postponed
JFE Holdings Inc. and IHI Corp. will postpone a merger of shipbuilding operations until after autumn, the Yomiuri newspaper reported, citing an unidentified person familiar with the plan. The companies have decided to delay the merger, which was t...
2009-03-04 13:40:05
Shipbuilders target new orders after slump
The global tanker market, which has significantly slumped due to the global financial meltdown, is expected to recover in the second half of the year. A new report indicates that orders to shipbuilders would resume immediately the financial diffic...
2009-03-04 13:13:37
Newbuilding orders came to a halt
Virtually all newbuilding order activity has plunged to levels close to or even zero, apart from some niche vessel types. The latest monthly report by ship broker George Moundreas indicates that this trend is shaping the future state of the supply/de...
2009-03-04 11:12:31
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