Latest News – Page 798
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Srab cancels three tanker orders
Stockholm-based SRAB Shipping AB has cancelled an order for three small products tankers at Eregli Shipyard in Turkey. The company is taking an SEK 32m ($3.83m) hit from the move, as the yard retains the deposits on the 8,400DWT vessels. All three were due for delivery this year.After vessel values ...
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Bangladesh shipbreakers threatened with closure
With shipbreaking very much back in vogue in the current tough freight rate environment, owners choice of breaking yards may well be severely curtailed. Environmentalists are hailing a Bangladesh High Court decision to order the closure, in two weeks, of all ship-salvaging yards which do not have environmental clearances. The ...
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Dramatic drop in newbuild prices
Researchers at London?s Clarkson shipbroking agency said that newbuilding prices plummeted again in January and would continue to fall. The price of newbuild ships fell by 6.1% in January. In the price index, prices fell from 176.5 to 165.7 in January, which Clarkson says is the most dramatic drop in ...
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Nok Bong threatened with liquidation
The Shinhan Bank in South Korea, in charge of managing the financial affairs of Nok Bong Shipbuilding, has threatened the yard with liquidation. Shinhan recommended the liquidation to Evaland Shipping, the Greek shipowner that filed a lawsuit against Nok Bong last year. Evaland said that it had an outstanding claim ...
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Silversea seeks price cut on newbuild option
Although Monaco-based cruiseship company Silversea is keen on exercising its option for a second 36,000GT vessel, it is seeking a substantial price cut from Italian shipbuilder Fincantieri. Chief Executive Amerigo Perasso said that the company was still interested in building a new cruise ship after the initial order for one ...
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World bulker and general cargo fleets to grow
The world fleet of dry bulk and general cargo vessels is expected to continue growing through 2012, in spite of weak freight rates and general overcapacity of tonnage, as new ships on order are delivered from shipyards, according to the latest Shipbuilding Market Forecast from Lloyd?s Register - Fairplay Research.While ...
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Philippines government confident Hanjin will return to Mindanao
Philippine cabinet members are confident that South Korea's Hanjin Heavy Industries and Construction Co will continue a $2bn shipyard project in Mindanao. The Korean firm started site development last year but pulled out in April after a misunderstanding with local government officials. Cabinet officials met in the far southern island ...
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China?s largest car carriers named
The naming ceremony was held for the two largest car carriers built in China to date. The pair, ordered by Norway?s car carrier specialist Dyvi and built at Samjin Shipbuilding Industry (SSI) in Weihai, are 199.90m in length, 32.26m wide and 34.55m high, and can carry 6,700 cars.Construction of these ...
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Stolt cancels tanker
Stolt Tankers has cancelled a contract for a delayed coated chemical tanker being built at SLS Shipbuilding in Korea. The subsidiary of Oslo-listed Stolt-Nielsen said the 44,000 DWT vessel was originally scheduled for delivery in May 2008.The company said that there had been "general delays" at the yard, but it ...
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China to buy up cancelled newbuildings
China Shipping Development and Sinotrans Shipping could be encouraged by Beijing to take on some of the vessels cancelled by foreign owners to support Chinese shipyards. Macquarie Research analyst Jon Windham estimated that more than 50% of the vessels on order at Chinese shipyards are from European customers and are ...
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China acquires French engine manufacturer
Last month, Weichai Power, a diesel engine company, said it would spend about $3.8 million to acquire the products, technology and brand of France?s Moteurs Baudouin, which designs and manufactures marine propulsion equipment such as engines and propellers.
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German shipyards face mounting cancellations
German shipbuilders face order cancellations worth as much as 936 million Euros ($1.2 billion) this year as the industry reels from overcapacity, the Economy Ministry said. Shipyards in ports from Emden in the west to Rostock in the east may report as many as 29 cancellations in 2009, equal to ...
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Japan ship orders decline
Japanese export ship orders tumbled on a year-on-year basis for the fifth consecutive month in February as demand for new vessels flagged amid the deepening global economic slump. Japan received orders for export ships totalling 293,270 gt in February, 84% down from the same month of last year, according to ...
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Creditors end debt workout for C&Heavy
Creditors of C&Heavy Industries Co in South Korea announced that they have terminated the troubled shipbuilder?s debt workout program. The move came after a Malaysian fund that showed interest in taking over C&Heavy failed to put down a 10 billion won ($6.98 million) deposit before yesterday?s deadline, said a spokesman ...
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New Queen revealed
Cunard Line revealed the first details of its 90,400gt newbuild Queen Elizabeth from Fincantieri?s Monfalcone yard, due to enter service in October 2010. The vessel will be the second largest Cunarder built in the 169-year history of the line and, with the Queen Mary 2 and Queen Victoria, will give ...
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Korean shipbuilders expanding into new markets
Korean shipbuilders are diversifying and introducing new advanced shipbuilding technologies to continue growing in a hostile business environment. Samsung Heavy Industries recently completed construction of the world?s largest semi-submersible offshore oil rig, which will be delivered to Seadrill. The platform, named West Eminence, weighs 30,000 tonnes, is 112 metres tall, ...
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Qingshan delivers first 57,000 dwt vessel
Qingshan shipyard of China Changjiang Shipbuilding Industry in Wuhan officially delivered its first 57,000 dwt bulk carrier which will be exported to Greece this month. It is the largest ship built in the central China area, made possible by extensive dredging of the Yangtze. The ship designed by Shanghai Ship ...
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Hyundai sets ambitious order target
Hyundai Heavy Industries aims to win $21.1 billion worth of orders this year, down 33% from last year's figure. Last year, the shipbuilder clinched orders valued at a record $28.2 billion, up 12.77% from $25 billion a year earlier, mainly thanks to rising demand for high-value ships.It is unclear, however, ...
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Newbuilding orders plunge
According to the latest statistics, global shipbuilding industry signed only 193,000 DWT new ship deals in February down by 98.4% year on year reaching merely 1.5% of the single month's volume in 2004. Among the 7 vessels agreed in February were 2 dry bulk cargo vessels, 2 multi-functional vessels, 2 ...
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Creditors end debt workout for C&Heavy
Creditors of C&Heavy Industries Co. said they have terminated a three-month debt workout program for the beleaguered small shipbuilder in South Korea and will make a final decision next week. The creditors, led by Woori Bank, declared that their debt rescheduling for the shipbuilder has ended and said they will ...
