General News – Page 340
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Metrostar stalls delivery of Suezmaxes
Metrostar Management in Greece has further mitigated its exposure to a hefty newbuilding orderbook after the cancellation last year of 10 handysize bulkers at troubled South Korean shipbuilder Jinse. In the new move, the Theodore Angelopoulos-controlled group has negotiated delays to the last two units in a series of Suezmax ...
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Danaos delays newbuildings
Danaos Corp has delayed 15 newbuildings, and the owner reported a decline in quarterly profits that its chief executive still called "highly satisfactory." The New York-listed containership owner forged a deal with China Shipbuilding Trading Co to delay five 8,530 TEU boxships by 200 days per ship.Another deal with South ...
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HHI develops world's first WiBro shipyard
Hyundai Heavy Industries (HHI) is pushing to promote a digital shipbuilding yard by using WiBro, a wired and wireless communication service, at production sites for the first time in the world. HHI recently signed a contract with KT, Korea?s telecommunication service provider, at its Ulsan headquarters and agreed to complete ...
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Bergen Group reduces Swedish business
Bergen Group has decided to reduce the business in Landskrona, Sweden. The company Bergen Group Landskrona (Landskronavarvet AB) became a part of the Bergen Group as a consequence of the acquisition of Fosen. The company focuses on construction of ship hulls but only has work through the first half of ...
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More than 80 million GT with GL
With the classification of the gas tanker "MT Gaschem Nordsee", Germanischer Lloyd (GL) has passed the 80 million gross tons threshold. More than 6,870 ships are currently surveyed on a regular basis by GL and, as a result, the fleet in service for GL has grown by 10 million gross ...
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SAFEDOR project completed
SAFEDOR, the maritime research project on risk-based ship design and approval, has been concluded after four years of intensive study. Representatives from the 53 project partners of all sectors of the maritime industry and guests met recently at the IMO for the final conference. The maritime experts deal with theoretical ...
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Incat delivers Dover-Boulogne fast ferry
Tasmania-based shipbuilder Incat Australia has delivered a 112-metre high-speed catamaran to 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 next month. Named ?MGC 66?, the newbuilding will be the first-ever freight-carrying, high-speed ...
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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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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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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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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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Only nine orders in March
Amid global newbuilding order drought, just nine newbuilding orders were placed in March worldwide amounting to 0.2m cgt and 0.7m dwt . A total of 26 contracts of 0.5m cgt and 1.3m dwt have been reported in the first quarter 2009 which accounts for just 3% of those reported in ...
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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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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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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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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.
