Latest News – Page 779
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Gdansk wins EU approval
In return for EU approval to keep euro251 million in government subsidies, Poland's Gdansk shipyard must slash capacity. This decision comes after a four-year European Commission investigation into whether government capital injections, tax write-offs, loans and guarantees should be repaid because they might be illegal and damaging to competition. Regulators ...
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Delayed newbuilds pose storage problem
Shipyards in South Korea are having difficulties in mooring newbuildings of which Deliveries of newbuildings that have been delayed by shipowners, are creating mooring difficulties for Korean shipyards. A rash of owners' request for delivery delays has caused a great number of completed newbuildings to be moored at shipyards and ...
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Euronav swaps VLCC for Suezmaxes
Belgium-based shipowner Euronav has called on Samsung Heavy Industries to convert a VLCC order to a pair of Suezmaxes. Samsung was preparing to build a 318,000 DWT VLCC for delivery in the first quarter of 2012 but, under a $170m deal, Euronav asked for a change in order to reduce ...
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Hyundai wins five patrol vessel contracts
Hyundai Heavy has signed a contract to build five mid and large sized patrol vessels worth 149.9 billion won with Korea Marine Fund Corporation. The order includes one 3,000 ton class offshore patrol vessel, one 1,000 ton class vessel, one 500 ton class vessel and two 300 ton class inshore ...
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Genco takes delivery of Caper
Genco Shipping & Trading Limited has taken delivery of the 'Genco Commodus', a 170,500 DWT Capesize newbuilding. The newbuilding is the seventh vessel to be delivered to the Company under Genco's previously announced agreement on 18 July, 2007 to acquire nine Capesize vessels from companies within the Metrostar Management Corporation ...
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Voith ventures into ship designing
With its company Voith Turbo Marine Engineering in Rostock that was founded only a few months ago, Voith is breaking new ground with the development of advanced ship concepts. A concept design for a multi-purpose tug with a bollard pull of 70 tons has just been presented while the company ...
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Green shoots in newbuilding market?
There is a growing awareness in the shipbuilding industry that a closing of the gap between newbuilding and second-hand ship prices is occurring which is making the newbuilding market a more attractive proposition. An escalation of unconventional opportunities is also starting to help the market, the world's largest shipbroker Clarkson ...
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Modest-but-steady growth in passenger vessels fleet size predicted
The latest Shipbuilding Market Forecast, published by Lloyd?s Register - Fairplay Research, predicts continued modest-but-steady growth for the passenger ship sector over the next five years. The monthly research report provides detailed analysis and forecasts covering all sectors of the passenger ship market, including passenger and cargo ferries, cruise ships ...
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Dubai yard renews BP Shipping agreement
The ship repair, conversion and new building yard of Drydocks World -Dubai has renewed its long-standing association with BP Shipping with the signing of a new alliance agreement.The two companies will work closely to achieve optimum production levels based on mutually agreed terms, which includes strict implementation of accepted standards ...
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China continues expanding shipbuilding capacity
Just when everyone is bemoaning the growing overcapacity in the world's shipbuilding industry, the government of the Guangxi region, located in south western China, approves a plan to develop an area in the region into a large shipbuilding base. According to the plan, the new shipbuilding facility will have an ...
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Deferrals hit containership orders
The number of deferred deliveries and slippage for containerships has exceeded 1.8 Mteu, or a third of the current orderbook. The bulk of the deferrals recorded by Alphaliner are for ships above 4,000 teu, with 168 ships involved with an aggregate capacity of 1.6 Mteu. The average period of delay ...
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Japan's first ballast water management system approved
Hitachi Plant Technologies, Ltd. and Mitsubishi Heavy Industries (MHI) were recently granted final approval by the IMO for their jointly-developed Hitachi Ballast Water Purification System (ClearBallast). This system makes use of active substances (G9) and is the first Japanese system to receive such approval. In preparation for type approval from ...
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CSBC wins four bulkers
Taiwanese shipbuilder CSBC has signed a contract to build four bulkers for Taiwan Power Co. The bulkers, the size of which was not revealed, will cost TWD 6bn ($182.11m), the ministry of economic affairs, which controls CSBC, said.The vessels will carry coal, but no further details were given.
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GSI wins bitumen pair
Chinese state-owned shipbuilder Guangzhou Shipyard International (GSI), part of CSSC, has ended its order drought by winning orders for two specialized bitumen carriers. The newbuilding contracts are understood to involve a pair of 10,000 DWT vessels for delivery in 2012.No price has been disclosed but shipbrokers suggest it could be ...
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Tsakos behind Sungdong Suezmax order
Sungdong Shipbuilding & Marine Engineering of South Korea has secured an order for two 158,000DWT Suezmax tankers from a leading tanker company. A yard official declined to disclose the shipowner's identity but sources close to Sungdong say it is Tsakos of Greece.The contracts end Sungdong's order drought and are thought ...
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Japanese yard files for court protection
Small sized Japanese shipbuilder Onishigumi Shipbuilding has filed for protection in court. Established in 2005, Onishigumi took over the former Kyoei Shipyard and builds offshore support vessels and tankers up to 5,000DWT. A shipbuilding source said that it was unlikely that Onishigumi?s collapse was due to the global financial crisis ...
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Jinhaiwan wins massive bulker order
China's Zhoushan Jinhaiwan Shipyard has received an additional 30 bulker orders from Grand China Logistics, which had become a new stakeholder of the shipbuilding company. According to sources, ship types are said to be 57,000DWT and 83,000DWT bulkers for delivery from October 2010 through to the second quarter of 2012. ...
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Shtokman LNG order expected to attract major yards' interest
Reports from the Far East name the yards that are said to be competing for the valuable LNG carrier tender for as many as 16-20 new vessels for the Shtokman LNG project. The ships must be capable of handling the severe conditions in the Barents Sea. The three major South ...
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Kobe Steel cuts crankshaft production
Kobe Steel in Japan is to cut production of crankshafts by about 10% as a result of newbuilding delivery delays and shipyard cancellations. Crankshafts produced at Kobelco's Takasago plant near Kobe are for vessels above 10,000DWT and weigh up to 380 tonnes. Much of the output is exported to China.A ...
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Latest Korean yard opting for debt workout
Medium-sized South Korean yard Kwang Sung is the latest yard to opt for a bank-led workout procedure. Kwang Sung is a midsize shipyard located in Mokpo city. It constructs newbuildings at two slipways and, in recent years, has entered into the field of oceangoing vessels. Kwang Sung represents the eighth ...
