Korean shipbuilders unlikely to lead industry reco （2015-03-09）
Although the global shipbuilding industry has entered a recovery period thanks to more shipbuilding orders than deliveries, South Korea's players might not benefit the most from the boom, said an analyst in a research note. Samsung Securities' Han Youngsoo said, "After shipbuilding prices plunged 34... |
Sainty Marine wins repeat orders from Celsius （2015-03-09）
Shenzhen-listed Sainty Marine continues to win new orders from Celsius Shipping amid its loss-making takeover of Nantong Mingde Heavy Industry. The new orders for four 24,600 dwt stainless steel chemical tankers were specified as repeat orders from Celsius Shipping with costs of about USD40 million ... |
VLCC newbuilding orders relatively quiet （2015-03-09）
Despite a contango in the oil market resulting in an improvement in fleet rates, newbuilding orders have been relatively low, according to tanker brokerage and consultancy Poten & Partners. IHS Maritime’s Sea-web.com data show that there are 89 very large crude carriers (VLCCs) on order, including 1... |
JES proposes restructuring for JEHI （2015-03-04）
Singapore-listed shipbuilder JES International Holdings (JES) has proposed a consensual restructuring between Jiangsu Eastern Heavy Industries (JEHI) and the China-based subsidiary’s creditors. JEHI has filed an application for the scheme to Taizhou Intermediate People's Court, in China’s Jiangsu Pr... |
Japan calls for box ship safety overhaul （2015-03-04）
Japan's Ministry of Land, Infrastructure and Transport is looking to tighten class safety rules for big container ships. In its final report on the break-up and sinking of the 8,110 teu MOL Comfort, the ministry called for hull girder strength requirements to reflect the effect of lateral loads that... |
Sainty Marine to freeze Nantong boss assets （2015-03-04）
Shenzhen-listed Sainty Marine has secured a court approval to freeze Nantong Mingde Heavy Industry president's CNY700 million (USD113 million) asset over a loan dispute. The Jiangsu Province High People’s Court had seized 6.5 million shares in a company held by Fenghua Ji, a 3 March stock filing of ... |
China lacks iron ore demand for its Capesizes （2015-03-04）
Although China consumes about 18 Capesize-loads of iron ore per day, the supply of ships is such that the demand is insufficient to create profitable freight rates, said London-based shipbroker ICAP Shipping. ICAP Shipping said, "The sharp drop of the iron ore prices has benefited the profit and los... |
HHIC bags orders for two LPG carriers （2015-03-04）
South Korean shipbuilder Hanjin Heavy Industries & Construction (HCIC) has won orders for two LPG carriers. The price of the two carriers is KRW114.9 billion (USD104.166 million), working out to USD52.083 million per ship, said the company in its Korea Exchange filing. HHIC told IHS Maritime that th... |
India’s SCI ends newbuilding freeze （2015-03-03）
India’s state-run Shipping Corporation of India (SCI) said it would start ordering new ships, lifting a two-year freeze on acquisitions following a dismal financial performance in the last four years. The enterprise said it plans to spend about USD130 million on buying ships, either second-hand or n... |
Vard's cash flow to improve amid gloomy orderbook （2015-03-03）
Singapore-listed Norwegian offshore vessel builder Vard will improve in its net cash position despite a gloomy order outlook, CIMB Securities analyst Yeo Zhi Bin told IHS Maritime today. “Vard’s net cash position has really tumbled; [hence] keeping cash will be the company’s first priority,” Yeo not... |
3 Maj wins Algoma self-unloading bulker order （2015-03-03）
Croatian shipyard 3 Maj, which is owned Uljanik Shipbuilding, has won an order for two Handysize self-unloading bulkers from Canadian shipowner Algoma Central. The two 24,900 dwt vessels are scheduled for delivery in 2017. The shipbuilder currently has orders for two 50,000 dwt product tankers for S... |
Tsuneishi banks on R&D to win orders （2015-03-03）
Japan’s Tsuneishi Shipbuilding, which mainly builds Kamsarmax and Handymax bulkers, plans to soldier on with research and development to clinch new orders. Speaking to IHS Maritime in Singapore today, Tsuneishi president Kenji Kawano said, “It’s true that the dry bulk shipping market has gone down s... |