Shipbuilding
Shipbuilding industry entering into adjusting stage
Some say that shipbuilding industry facing difficulties such as diminishing order-receipts or cancellation of orders derived from global recession is not at an ebb but has entered into adjusting stage. Mirae Asset Securities says on November 13 th...
2008-11-14 11:24:23
FSG sold off
German bulk carrier giant Egon Oldendorff has sold its Flensburger Schiffbau-Gesellschaft (FSG) shipyard to management and investors. A management buy-out has been confirmed involving chief executive Peter Sierk and backed by investors associat...
2008-11-14 11:04:50
Austal wins JHSV contract
The Navy has decided to award the Joint High Speed Vessel contract to Austal USA. The award wasn't included in today's Pentagon contract announcements, but U.S. Senator Richard Shelby (R-Ala.), a member of the Senate Appropriations Subcommittee on De...
2008-11-14 11:00:09
Namura shrinks
Japan’s Namura Shipbuilding has seen profit dwindle in the first six months of its financial year, despite a slight rise in revenues. It said net earnings to 30 September were JPY 867m ($9.12m), down from JPY 1.97bn in 2007. Revenues edge...
2008-11-14 10:58:53
Hyundai Mipo says ship order revised up
Hyundai Mipo Dockyard Co Ltd said on Thursday it had signed a $408 million order that revised up a 2007 contract to reflect changes to ship types. South Korea-based Hyundai Mipo had initially won a $373 million order for eight container ships from an...
2008-11-14 10:51:56
New-build price down up to 17% next year
Tong Yang Investment Bank, a South Korean financial firm, predicts new-build prices would decline up to 17% in 2009. Tong Yang analyst Jae-Won Lee said, “In the past newbuilding market from 2003 to 2007, order-receipts amounted to the largest vo...
2008-11-14 10:40:34
HHI Shipbuilding department's growth being dragged by o...
It is anticipated that the Hyundai Heavy Industries (HHI)’s positive session for business showing will be continued to next year based on the strong growth in other sectors apart from shipbuilding department. Tong Yang Investment Bank’s analys...
2008-11-14 08:29:15
Shipbuilding & shipping market slump might last 2 years
Adjustment period after a great prosperity in shipbuilding and shipping markets would last at least for two years, according to a prospect, and current aggravated market conditions are not likely to improve much in six months to come. Recently, Ge...
2008-11-14 07:13:02
Overseas shipowners’ order cancellations increasing but no...
A large number of overseas ships’ operation has ceased due to the financial crisis, some European shipowners’ order cancellations are getting tough, however, not too many Chinese shipbuilders are involved in this matter, even though the risks of ...
2008-11-13 20:41:34
Yangzijiang announce "No Cancellation"
Jiangsu yard makes "no cancellation" announcement. Chinese yard Jiangsu Yangzijiang Shipbuilding made the extraordinary announcement that "it has had no newbuilding contract canceled" on Nov. 10 when it revealed its January-September 2008 busines...
2008-11-13 16:10:52
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