All Motorship articles in Web Issue – Page 836
-
News
ABB opens Singapore FPSO centre
Swiss power and automation technology group ABB is opening an engineering center in Singapore to carry out engineering of FPSO and FSO projects for the offshore oil and gas industry.ABB's capabilities for the FPSO/FSO market include power generation and distribution, onboard drives electric propulsion, automation, telecommunication and project execution. ABB ...
-
News
Daewoo Q4 earnings rise more than 5-fold
Daewoo Shipbuilding & Marine Engineering Co said its fourth-quarter earnings increased more than five-fold due to construction of more expensive vessels. Net profit reached 293 billion won ($210 million) in the October-December period, compared with 53 billion won a year earlier. Sales jumped 69% to 3.67 trillion won over the ...
-
News
Dryships in crisis
Indications that things weren't quite shipshape at bulk commodity carrier Dryships surfaced last week when the company stunned the market with news that it was suspending its dividend and cancelling several new ship orders. The company's shares shed as much as 30% of their value after management disclosed that it ...
-
News
Engine manufacturers face cancellations
Wartsila is reportedly facing losing up to ?800m of its existing orderbook due to potential cancellations. With a current ship power orderbook of ?4.5bn ($5.8bn), this represents almost 18% of its engine orders and 11% of its total orderbook, which includes engineering services and shore power plants. Wärtsilä said that ...
-
News
Beijing to revitalize shipbuilding sector
It is reported that China's shipbuilding industry's revitalization plan has been drafted following the release of support plan for auto industry and is to submit to the State Council for approval. One principal in Zhejiang Development and Reform Commission said that it will strictly control the approval of new shipbuilding ...
-
News
Credit crunch could compromise maritime safety
According to a recent poll of Lloyd?s List readers, some 70% of those polled have serious concerns that shipping industry safety standards will be hit by the global economic crisis. "Marine insurers and regulators are concerned about a ?flight from quality? as companies grapple with the financial impact of the ...
-
News
Germanischer Lloyd receives ISO 9001:2008 certification
Germanischer Lloyd's (GL) Maritime and Corporate Services received the ISO 9001:2008 certification. It was awarded by the German certification body DQS (registrar in independent third party management system certification) after a thorough assessment of GL's quality management system. GL complies with internationally recognized standards for quality systems.The ISO 9001:2008 certification ...
-
News
Korea and India restructuring shipyards
In South Korea, the scale of restructuring is evident, though analysts say that the 'first round' of restructuring had not been dramatic. They say that a large scale second phase would begin in February. The world?s largest shipbuilding market is set to concentrate on business diversification, and may choose to ...
-
News
Turku yard cuts labour force
STX Europe?s Turku Shipyard in Finland will lay off 1,060 workers due to its meagre order books. STX Europe has commenced talks with unions regarding redundancies which will affect workers in the yard and administration. Around 900 ship yard workers and 160 office workers will laid off.
-
News
Credit crunch impacts on Davie Yards
Davie Yards? most significant client, Cecon, has informed the Canadian shipbuilder that it has received a notice of cancellation of its $200 million credit facility from DNB NOR Bank. Cecon has told Davie that it will consider and pursue new financing options and has retained First Securities and Pareto Securities ...
-
News
Rig industry hit by cancellations
A weaker global demand for energy has forced cancellations that are hitting the world?s profitable oil rig industry. Production is now slowing and exploration budgets have been cut back in recent weeks as the economy worsens and builders have reported a slow uptake on new orders coupled with cancellations and ...
-
News
Biofuels creating crisis
A recent study highlights problems linked to converting crops into biofuels. Taking up valuable land and growing edible crops for biofuels poses a dilemma as to whether it is ethical to produce inefficient renewable energies at the expense of an already malnourished population. David Pimentel and his colleagues from Cornell ...
-
News
Goldenport rescheduling vessel deliveries
Goldenport Holdings Inc., the Greek international shipping company that owns and operates a fleet of container and dry bulk vessels has reached an agreement with COSCO (Zhoushan) Shipyard in China to reschedule the delivery dates of the four new-build 57,000 DWT bulk carriers on order at the yard, at no ...
-
News
Daewoo to deliver mega boxship to MSC
A new mega container ship from South Korea's Daewoo shipyard will soon be named the ?MSC Danit?. The new 14,000 TEU vessel will be delivered only weeks after the 14,000 TEU ?MSC Daniella? came down the slipways of the Samsung Heavy Industry yards. While the recently launched ?MSC Daniela? was ...
-
News
ABS adopts new FPSO structural requirements
The American Bureau of Shipping (ABS) has adopted new structural requirements for the evaluation of FPSO units. The criteria are contained in a revised version of the ABS Guide for Building and Classing Floating Production Installations. The new standards will be mandatory effective July 1, 2009. Companion requirements for newbuild ...
-
News
Nordic Ferry to deploy large HS ferry
Nordic Ferry Services will deploy one of the world?s largest high-speed ferry on its service between Ystad in Sweden and Ronne on the island of Bornholm when the new invitation to tender becomes effective in two years? time. The new tender will be effective on September 1, 2011 and runs ...
-
News
Zim delays newbuilding programme
Zim Integrated Shipping Services is holding discussions with South Korean shipyards to delay the delivery of new containerships by a year. The Israeli company is scheduled to receive nine boxships this year. Its aggressive fleet expansion strategy has backfired in the wake of the global financial crisis, and Zim?s parent ...
-
News
Danish owners stuck with new ships
The large Danish shipping companies will not consider abandoning their agreements to take delivery of newly built ships ordered when freight rates and ship prices where high. But both Norden and Torm are ready to negotiate with the shipyards, if they are interested in cancelling or postponing the agreements. "We ...
-
News
The mega boxships just keep coming
As freight rates plunge, the leading players in the container shipping sector hope to muscle aside smaller rivals by unleashing a wave of mega boxships during the biggest dip in global trade since World War II. The trend could keep sea freight rates depressed well into 2010 which is good ...
-
News
Mideast shipowners stand firm on orders
A recent analyst report from Drewry Shipping said orders for at least 30 new tankers have been cancelled since last August. However, shipping companies in the Middle East insist they will not follow suit according to Saleh Al Shamekh, president for oil and gas at the National Shipping Company of ...
