Month: March 2009

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…

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…

South Korean and Chinese efforts to restructure their respective shipbuilding sectors are backward looking and inadequate , according to Shipbuilders' Association of Japan executive director Nobutaka Nambu. Nambu said that he would…

Samsung Heavy Industries vice-chairman Kim Jing-wan recently said, "We may receive new orders from Russia next month." He said in an interview with local press, "From the second half considerable amount of…

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…

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…

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…

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…

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…

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…