All Motorship articles in Web Issue – Page 826
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News
Japanese to help modernise Russian shipyard
Three Japanese companies, Mitsubishi Heavy Industries, Ltd. (MHI), Nippon Yusen Kabushiki Kaisha (NYK Line) and Mitsui & Co., Ltd., have signed an agreement with United Industrial Corporation (OPK), one of Russia's largest diversified corporations, to implement a feasibility study on constructing large-size LNG carriers at the shipyards of an OPK ...
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Korea unveils distressed ship fund
The South Korean government said it would provide Won4.7trn in loans to help build domestically-owned ships that are under construction or on order at local shipyards. The loans will be made available through state-owned Korea Export Import Bank and will be split between the shipyards and owners, with Won3.7trn going ...
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Japanese discount for extra orders
Some Japanese shipbuilders are reported to be accepting price cuts on existing newbuilding orders in exchange for owners ordering an extra vessel. The deals hinge on the fact that shipyards costs such as raw materials have come down, in particular steel which accounts for around 40% of the cost of ...
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ExxonMobil tenders for five LNG carriers
ExxonMobil has sent out tender documents to shipowners and yards for up to five LNG newbuildings to serve its Papua New Guinea (PNG)-based liquefaction project. Shipbuilding sources say they are reviewing a tender for vessels of between 150,000 cbm and 180,000 cbm. Four or five ships will be required, depending ...
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Wärtsilä warns of order cancellations
Finnish marine engine maker Wärtsilä has reported ?51m ($68m) in engine cancellations from its ship power division during the first quarter 2009, and said a further ?1bn of orders could be axed. The Helsinki-listed company reported net sales growth of 46% to ?1.2bn and operating profit up 60% to ?130m ...
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Cosco to cancel or delay orders
China's Cosco plans to cancel or postpone some of its vast portfolio of ship orders, scotching speculation that the state-controlled shipping line might be forced to increase its orderbook to support China's shipyards. The company, the world's biggest operator of dry bulk ships, recently announced its plans alongside results showing ...
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Nok Bong?s workout collapses
South Korea's troubled shipyard Nok Bong Shipbuilding's debt rescheduling procedure has ended on 23 April and it seems to file for court receivership. An official at Shinhan Bank, the shipbuilder's main creditor, said, "At the creditors meeting held on 23 April, the plan to delay redemption of the shipbuilder's debt ...
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Turkey climbs to 5th position
Due to projects implemented by the Turkish ministry of transport in the last 4 years to increase shipyard capacity, Turkey?s worldwide market share in shipbuilding has risen from 0.9% to 1.4% making Turkey 5th in shipbuilding behind Germany who occupies 4th place with a share of 3.6%. With these developments ...
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Canadian authorities want ship records onboard for life
During a Transportation Safety Board of Canada accident investigation, the agency found that safety significant information is often no longer kept on a vessel due to a change in management. The Board's senior marine investigator, Capt Paul Drouin, said that he believes this issue to be one of the weak ...
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Third 112m Incat fast ferry to go to the English Channel
Incat has just announced the acquisition of its latest 112m high speed catamaran by France?s LD Lines. The largest ever fast ferry to operate on the cross-channel routes between England and France will enter service between Dover and Boulogne on 29 May 2009.The new fast ferry will be the first-ever ...
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Japan's shipbuilding orders plunge
Orders for new ships tumbled 45.2% to the equivalent of 6 .7 million cgt in fiscal 2008, according to data released by the Shipbuilders' Association of Japan. With shipping firms less willing to invest since the downturn in the global economy last autumn, orders fell to the lowest since fiscal ...
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Troubled Kanasashi carries on
Kanasashi Heavy Industries in Japan, which filed for court protection under Japan's Corporate Rehabilitation Law, will continue for the time being to construct the three newbuildings currently being outfitted, and two ships now being assembled on its slipways, the Kaiji Press reported.
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China hit by large number of cancellations
According to local newspaper reports, China Academy of Telecommunication Research (CATR) of the Ministry of Information Industry (MII), the main agency in charge of industrial and information communication in China, disclosed late March that the number of newbuildings cancelled in China from October 2008 through February 2009 reached 110 units ...
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WSS offers 'Solutions for a Lifetime' packages
The maritime services network Wilhelmsen Ships Service (WSS) is implementing an initiative that recognises the high level of newbuildings completing in 2009, known as "Solutions for a Lifetime". It focuses on the importance of recognising the continued requirements of newbuildings to be supplied with the highest quality of products and ...
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Ferry safety project to test weather warning prototype
A prototype satellite-based radio messaging system for relaying weather warnings in remote areas is set to be tested as part of the Interferry/IMO joint initiative to reduce ferry fatalities in developing nations by 90%. Under a ten-year agreement signed in 2006, the initiative is being piloted in Bangladesh, where communication ...
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Sietas inks ferry
Hamburg-based shipyard Sietas Werft has signed a newbuilding contract with Föhr-based ferry operator Wyker Dampfschiffs-Reederei. The vessel will be able to carry about 1,200 passengers and 75 cars and will be employed on services to the North Frisian Islands."This order is very important for Sietas, because it is a first ...
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Maersk cutting emission levels on newbuildings
A P Moller-Maersk will cut the emission levels on a new series of container ships presently under construction at the Korean shipyard Daewoo Heavy Industries. The series of 16 ships will be optimised in energy consumption through a number of measures. There will be a change of the bow construction, ...
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SSW changes course
The days of Germany's SSW Schichau Seebeckwerft as a newbuilding yard appear to have ended and the yard is expected to shift its focus from shipbuilding to ship blocks. The insolvent Bremerhaven-based facility is expected to focus in future on ship blocks and other steel structures under a new deal ...
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Korea to get Brazilian boost
Brazil's oil major Petrobras visited South Korea on 20 April and held a presentation meeting on its giant oil development project revealing that it will place orders for eight FPSOs and seven drillships in stages by next year. South Korean shipbuilders' market share in the sector exceeds 80% and they ...
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Box carriers must cull fleet to survive
Failure to take the bold steps required to eliminate unwanted containerships will drive some lines out of business. That is the verdict of Drewry Shipping Consultants in a report that urges ocean carriers to "act now" in order to survive the crisis which has seen freight rates plunge after a ...
