JES's chairman steps down amid restructuring （2015-03-18）
Singapore-listed shipbuilder JES International has announced in its filing to the Singapore Exchange (SGX) that the group’s chairman and CEO, Jin Xin, has stepped down from his post with effect from 16 March. Jin, however, will remain as an executive director of JES and will concentrate on the opera... |
Limited recovery predicted for Doosan Engine （2015-03-12）
Although shares in South Korea's Doosan Engine have rallied this year on expectations of more orders and turnaround in operating profit, further upside will be limited, according to an analyst's research note. After visiting the company, Samsung Securities analyst Han Young-soo said, "Doosan Engine ... |
Franbo Lines' revenue up 32.57% in February （2015-03-12）
Taipei-listed bulk carrier Franbo Lines on 11 March posted a revenue of TWD57 million (USD1.8 million) for this February, up 32.57% year on year (y/y). Its revenue for the first two months of 2015 totalled at TWD120 million, a 14.11% increase y/y. Franbo Lines stated that the drop of Baltic Dry Inde... |
Cochin signs new dredger deal with Royal IHC （2015-03-12）
India’s state-owned Cochin Shipyard has signed an agreement with Netherlands-based Royal IHC to collaborate on dredgers for the Indian market. IHC is the world’s top designer and manufacturer of dredgers and associated equipment. “As part of the ‘Make In India’ programme, Cochin Shipyard is looking ... |
Wintermar to postpone AHTS deliveries （2015-03-11）
Indonesian offshore support vessel owner Wintermar Offshore Marine announced on 11 March that it has postponed the delivery of two out of three anchor handling tug supply (AHTS) ships. The company said the decision was due to the oil shock that has forced oil companies to cut back on exploration and... |
Zhongchang Marine cancels order at JEHI （2015-03-11）
Shanghai-listed Zhongchang Marine announced on 11 March that it has cancelled the second of the two 47,500 dwt bulk carriers it ordered at Jiangsu Eastern Heavy Industries (JEHI). JEHI is a subsidiary of Singapore-listed JES International Holdings, which had recently filed for restructuring protecti... |
Nam Cheong wins USD58m in orders （2015-03-11）
Singapore-listed shipbuilder Nam Cheong has secured sales contracts totalling approximately USD58 million for two vessels. One of the contracts is for a 200-man accommodation work vessel (AWV) for Singapore-based integrated marine logistics company Marco Polo Marine. In 2014, Marco Polo Marine bough... |
Kurinoura wins tanker order （2015-03-11）
Japanese shipbuilder Kurinoura Dockyard has won an order for a chemical/product tanker from returning Singapore-based Marex Maritime. The 16,000 dwt vessel will have an overall length of 142 m, beam of 22 m and draught of 9.2 m, with delivery scheduled for April 2016. It will be flagged with Singapo... |
NYK devises energy-saving adjustments for box ship （2015-03-10）
Japan's Nippon Yusen Kabushiki Kaisha (NYK) and its subsidiary Monohakobi Technology Institute (MTI) have made energy-saving adjustments for container ships. The adjustments resulted in lowering carbon dioxide (CO2) emissions by 23% over six months, beating pre-test estimates. To reduce energy consu... |
KEXIM to fund HMM's KEPCO Capesizes （2015-03-10）
A fund created by the Export-Import Bank of Korea (KEXIM) will provide financing for four Capesizes that Hyundai Merchant Marine (HMM) is building for an 18-year consecutive voyage charter to Korea Electric Power Company (KEPCO). In mid-2013, HMM had formed a consortium with Pan Ocean to bid for the... |
Hyundai Samho secures AMPTC suezmax pair （2015-03-10）
South Korean shipbuilder Hyundai Samho has secured an order for two suezmax tankers from returning Kuwait-based Arab Maritime Petroleum Transport Co (AMPTC). The two 144,000dwt newbuildings are scheduled for delivery in 2017 and brokers indicate a cost of about USD70 million each. AMPTC is a regular... |
Britannia to be named by Queen Elizabeth II （2015-03-10）
The latest addition to Carnival Corporation’s P&O Cruises will be named by Queen Elizabeth II on 10 March. Britannia is only the fifth passenger vessel named by the Queen and has in all aspects been developed to meet evolving British tastes. The 144,000gt Britannia has been built by Fincantieri’s Mo... |
Yangzijiang dismisses M&A rumours （2015-03-10）
Singapore-listed shipbuilder Yangzijiang Shipbuilding Holdings dismissed rumours on the acquisition of shipbuilder China Rongsheng Heavy Industries Group Holdings (RSHI). Yangzijiang stated in its filing to the Singapore Exchange that the management of the company has “not made any decision regardin... |
Analyst: DSME expected to do well in 2015 （2015-03-10）
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is the only one of Korea’s big three which profitability would improve other than on base effect or through restructuring, said an analyst in his research note. Samsung Securities analyst Youngsoo Han said, "DSME posted consoli... |
ULCS demand not enough to revalue Korean shipbuild （2015-03-10）
Although shippers intend to order ultra-large container ships (ULCSs) in which Korean shipbuilders command high market shares, the new orders are insufficient to raise earnings forecast for them, said an analyst in his research note. Samsung Securities analyst Young-soo Han said, "Maersk at end-2014... |
Dredging at Keppel Corporation's Pioneer yard （2015-03-10）
Dredging is underway at Keppel Corporation’s Pioneer Shipyard off the West Jurong Channel in Singapore. A notice from the Maritime and Port Authority of Singapore (MPA) said the works would be done from 16 March to 15 July. Singapore-based dredging contractor East Marine will oversee the works. Offi... |
Sumitomo wins orders for eight aframax tankers （2015-03-10）
Japanese shipbuilder Sumitomo Heavy Industries has won orders for up to eight aframax crude oil tankers, with four from Hong Kong-based Wah Kwong and four from Greek shipowner Thenamaris. Each owner has an order for two firm 112,000 dwt vessels with two options attached. The Thenamaris website indic... |
SWS secures Cardiff newcastlemax pair （2015-03-10）
Chinese shipyard Shanghai Waigaoqiao Shipbuilding (SWS) has secured an order for two newcastlemax bulkers from Greek shipowner Cardiff Marine. The two 208,000 dwt vessels will have an overall length of 299.88 m, beam of 50 m, depth of 25 m and draught of 18.5 m, with delivery scheduled for April and... |
Sainty Marine offers guarantee for subsidiary yard （2015-03-10）
Shenzhen-listed Sainty Marine will offer a guarantee for a combined fund of CNY145 million (USD23 million) for Sainty Shipbuilding (Yangzhou), its major shipbuilding subsidiary based in Yangzhou. Sainty Shipbuilding (Yangzhou) is planning to sell and lease back its production facilities from AVIC Le... |
Taizhou Maple Leaf wins bunkering pair （2015-03-09）
Chinese shipyard Taizhou Maple Leaf Shipbuilding has won an order for two bunkering tankers from compatriot shipowner China Marine Bunker Supply, Dalian Branch. The two 3,600 dwt vessels are scheduled for delivery towards the end of this year. The shipbuilder currently has an orderbook of a 1,113 te... |