Shipbuilding
Japan's Major revised profit
Among the major shipbuilders in Japan, Kawasaki Heavy Industries (KHI), IHI Corp. and Mitsui Engineering & Shipbuilding (MES) have revised downward their operating profit projections in their ship divisions for fiscal 2008. KHI has revised its foreca...
2008-11-12 10:28:29
Yangzijiang up
China’s Yangzijiang Shipbuilding Holdings has more than doubled third-quarter profit. The Singapore-listed yard earned more money from building larger ships to 30 September, it said. Net profit in the quarter was CNY 475m ($69.6m) from CNY...
2008-11-12 10:10:22
Hard-getting loans cancelled 30% of the new orders
Based on the difficulty to be furnished by banks and uncertainty of market demand, Norway ship brokerage firm Platou’s chief economist Andersen estimated that one-third of the dry bulk carrier orders for shipment in 2010 and 2011 have been cancelle...
2008-11-12 09:45:19
Capesize tonnage shrinking
As dry bulk shipping market collapses, the tonnage and supply of capesize bulk carriers are rapidly decreasing. Breaking superannuated vessels is accelerating with six ships disclosed to have been scrapped to date. Also, several projects of conver...
2008-11-12 07:15:45
Admiralty starts building 2nd ice-class oil tanker
Russia's Admiralty Shipyard has started construction of a second enhanced ice-class tanker designed to ship oil from an Arctic oil field, a company spokesperson said on Monday. The St. Petersburg-based shipyard, Russia's oldest, is building two 70,00...
2008-11-11 11:11:36
YS Heavy ship repair sales exceeded KRW 10bn
Yeosu-based YS Heavy Industries Co.,Ltd. (YSHI) said on November 10 that its annual goal has been achieved by having KRW 10bn (: 850Mil$) of sales in vessel repair sector this year. KRW 8.1bn was its original aim to be met for vessel repair sector...
2008-11-11 09:41:24
Yard halt
The global financial crisis has caused Ukraine’s Chernomorsky Shipyard to stop work on two hulls subcontracted by Damen of the Netherlands. The Mykolaiv-based yard’s boss Vitalii Ilnytskyi told reporters that the termination of loans from ban...
2008-11-11 03:20:07
Lloyd Werft plans job cuts
GERMAN shipyard Lloyd Werft is considering cutting its workforce by 120 staff due to cancellations of orders and a lack of new contracts. “We have to get slimmer due to the situation in the newbuildings market... orders are breaking away one af...
2008-11-11 03:12:23
Newbuilding orders would decline 40% in 2009
Newbuilding orders are sharply decreasing starting from the fourth quarter due to credit crunch caused by the global financial crisis, and shipyards’ order-intake next year is expected to be amounting to 50-60% compared with this year. On Novemb...
2008-11-10 13:55:38
Privatization of Croatian state-run shipyards is urged
European Union’s Commission for Market Competition again insisted on cutting the subsidies on Croatian state-run shipyards and their privatization by instant tender. Croatia which will be joined in EU is in need of introducing drastic reforms to...
2008-11-10 13:40:26
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