General News – Page 350
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Box ship orderbook shrinking
The total capacity of containerships on order worldwide has declined to 6.1 million TEU, comprising 1,147 vessels, as of 1 February, 2009, according to figures compiled by AXS-Alphaliner News. Claimed as being the lowest level over the past 16 months, AXS said the world order book represents 49.1% of the ...
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DSME in large cost cutting exercise
Daewoo Shipbuilding & Marine Engineering (DSME) has plans to cut costs by 624.5 billion won this year to prepare against the global economic crisis and the slump in the overall shipbuilding industry. DSME seeks to firmly establish the 'OK culture' both in and around the company, which refers to carrying ...
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DNV guidelines on lay-ups of ships issued
The DNV guidelines on lay-up of ships are now ready and available on the DNV website. The guidelines contain both requirements and recommendations for shipowners that are preparing for short or long lay-ups. Based on the market uncertainties and the fact that global trade is slowing down at the same ...
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German yards suffer
According to the German Shipbuilders' Association (Verband für Schiffbau und Meerestechnik e.V.) the domestic shipbuilding industry signed newbuilding contracts for 46 vessels in 2008, it?s the lowest order intake since 2001, Lloyd?s List reports. In 2007, the industry received orders for 79 vessels. 29 vessels were cancelled in 2008, while ...
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'New Panamax' defined
The Panama Canal Authority has issued precise details on dimensions for the next era of Panamax ships. Proposals for the new locks will be received by 3 March and the canal authority is expected to announce which consortium will be awarded the construction by this May. "Each of the new ...
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First newbuilding started at Hyundai Gunsan
The new Hyundai Heavy Industries? shipyard in Gunsan is starting operations this month. Located in the Jeolla Province in South Korea, the Gunsan shipyard recently held a keel laying ceremony for its first ship, a 180,000 DWT bulker ordered by Nord Capital of Germany. Delivery of the newbuilding is scheduled ...
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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 ...
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Korea shipbuilding still number one
South Korea retained its No.1 ranking in the global shipbuilding industry in terms of new orders, order backlogs and volume of vessels built in 2008. The nation's shipbuilders won a combined 17.5 million CGTs in new orders last year, accounting for 41.1% of all global new orders according to Clarkson ...
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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 ...
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Jinan Steel inks pact with shipbuilders
Jinan Steel Group in China has recently signed strategic cooperation agreements with seven key shipbuilders in Shandong, to consolidate their production-demand chain of shipbuilding steel plates to the mutual benefit of all participants.Jinan Steel is the largest steelmaker in Shandong and the largest shipbuilding plate supplier in China, boasting over ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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.
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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 ...
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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 ...
