U-Ming Marine sees prospect in bulk shipping （2015-05-05）
Taiwanese bulk carrier U-Ming Marine stated on 5 May that the infrastructure construction in emerging markets such as China and India will bring opportunities for bulk shipping. Asian Infrastructure Investment Bank, BRICS Development Bank, and Silk Road Fund will provide financial support for these ... |
Ocean Yield plans further expansion after 1Q15 （2015-05-05）
Ocean Yield, a listed Norwegian tonnage provider controlled by the Aker group, said it is prepared to continue its expansion after reporting a steady profit for the first quarter of 2015. Group net profit amounted to USD28.1 million in the first quarter of 2015 compared with USD28.6 million in the s... |
Evergreen Holding's shipbuilding segment profit sh （2015-05-05）
Evergreen Holding Group, the parent group of Sinopacific Shipbuilding, posted a 15% year-on-year (y/y) decline in the operating profit for its shipbuilding segment in 2014 amid depressed newbuilding market and financial pressures. The operating profit for the segment, including the building of offsh... |
Yangzijiang considers RSHI acquisition （2015-05-03）
Singapore-listed shipbuilder Yangzijiang Shipbuilding Holdings (Yangzijiang) has set its sight on possible merger and acquisition (M&A) activities for Chinese shipyard Rongsheng Heavy Industries (RSHI). Yangzijiang told IHS Maritime that it has been approached by the Chinese government to acquire st... |
Tsuneishi receives Handysize bulker orders （2015-05-03）
Japanese shipbuilder Tsuneishi said on 30 April that it has received orders to build a number of 38,300dwt bulk carriers. The ships, to be built based on Tsuneishi’s newly developed TESS38 design, would be constructed at the shipbuilder’s Cebu yard. Tsuneishi, led by Kenji Kawano, said it is the fir... |
CSICL's profit falls 47% in 1Q15 （2015-05-03）
Shanghai-listed China Shipbuilding Industry Company Limited (CSICL) said its profit fell 47% year on year (y/y) to CNY385.4 million (USD62.2 million) in the first three months of 2015 as a result of higher raw material and labour costs. The flagship listed unit of China Shipbuilding Industry Corpora... |
Hyundai Mipo Dockyard on course for profit （2015-05-03）
South Korean mid-tier shipbuilder Hyundai Mipo Dockyard (HMD) can look forward to a profitable 2015 as the costs of raw materials decrease, analysts said on 29 April. HMD posted a KRW22.49 billion (USD21 million) profit on 28 April for the first quarter of 2015, reversing a KRW34.87 billion loss for... |
Vale denies mega-order report （2015-05-03）
Brazilian iron ore giant, Vale, has disputed a published report that it could lease 50 very large ore carrier (VLOC) newbuilds, more than double its previously stated plans. The Wall Street Journal (WSJ) reported on 29 April that Vale was in talks to lease around 20 VLOC newbuilds from China COSCO H... |
HHI wins Russian FSRU （2015-05-02）
Hyundai HI of South Korea has secured a new order for an LNG FSRU from Gazprom of Russia in a USD295 million deal. The 170,000 cbm capacity vessel will be built at HHI’s Ulsan facility, with the ice-classed ship being booked for delivery in 4Q 2017. On delivery, it will be based at Kalingrad in the ... |
D'Amico firms up LR1 LOI （2015-05-02）
D’Amico International Shipping has firmed up a letter of intent for two long-range product tankers from Hyundai Mipo’s Hyundai-Vinashin shipyard in Vietnam. The 75,000 dwt ships are understood to have been priced at USD44 million per vessel with delivery booked for mid-2017. The contract was placed ... |
CMES' profit surges 22.6% in Q1 2015 （2015-04-29）
Shanghai-listed China Merchants Energy Shipping (CMES) on 29 April posted a profit of CNY225 million for the first quarter of 2015, surging 22.6% from the same period of 2014. The company recorded revenue of CNY1.4 billion in the first quarter of 2015, rocketing 106.2% year on year (y/y), and its ea... |
FLNG and commercial ships bode well for SHI （2015-04-29）
Even as drillship orders are drying up, orders for floating LNG (FLNG) vessels and commercial ships would augur well for Samsung Heavy Industries (SHI), analysts believe. The second-biggest shipbuilder in South Korea on 28 April posted a KRW11.6 billion (USD10.78 million) profit for the first quarte... |
Sainty Marine posts $292m loss in 2014 （2015-04-29）
Shenzhen-listed shipbuilder Sainty Marine sank to losses of CNY1.8 billion (USD292 million) in 2014 on huge asset impairment that resulted from its loans extended to shipbuilder Nantong Mingde Heavy Industry. For 2014, the company took a provision of CNY1 billion for non-performing loans it had exte... |
HHI's prospects bright despite Q1 loss （2015-04-29）
Hyundai Heavy Industries (HHI) could still turn a profit for 2015 even as restructuring costs resulted in a loss of KRW138.8 billion (USD129 million) in the first quarter. The result was worse than the KRW58.4 billion loss for the first quarter in 2014. Excluding the KRW161 billion in restructuring ... |
Sembcorp Marine's profit drops 15.2% （2015-04-29）
Singapore-listed offshore services provider Sembcorp Marine suffered a drop of 15.2% year on year to SGD108 million (USD81.8 million) in its profit for the first quarter ended 31 March 2015. The company’s revenue also saw a dip of 2.4% to SGD1.3 billion in the first quarter of 2015, compared with SG... |
DHT reports strong improvement in 1Q15 （2015-04-29）
DHT Holdings, the New York-listed crude oil tanker company managed from Oslo, has reported a strong improvement in result in the first quarter of 2015 (1Q15) on a firmer market and bigger fleet. Group net profit amounted to USD23.2 million in 1Q15 compared with a loss of USD0.5 million in the same p... |
Sinopacific delivers first SP AHTS （2015-04-29）
Sinopacific Shipbuilding Group has successfully delivered its first independently designed medium-sized anchor-handling tug supply (AHTS) offshore vessel in the SP series on 28 April. Ossoy, the first of four newbuilds in the SPA150 AHTS series, was delivered to Russian shipowner FEMCO Group at the ... |
DEME orders first two LNG powered dredgers （2015-04-29）
Belgian dredging group DEME has ordered what it says will be the world’s first two liquefied natural gas (LNG)-powered dredgers from Dutch shipbuilder Royal IHC for an undisclosed price. The two trailing suction hopper dredgers will have a dual fuel capability, enabling them to use LNG or diesel, an... |
Seven Seaspan boxships for HHIC and China （2015-04-29）
Canadian shipowner Seaspan has placed orders for seven containerships with five at HHIC Subic Bay, Philippines and two at Chinese yards Jiangsu Xinfu and Jiangsu New Yangzi Shipbuilding at a total cost of USD653.5 million. The five 11,000 teu vessels at HHIC are scheduled for delivery in 2017 and co... |
Ocean Rig delays drillship deliveries from SHI （2015-04-29）
George Economou’s Ocean Rig is delaying the deliveries of two drillships it ordered at Samsung Heavy Industries (SHI). The two drillships, ordered in April, were originally scheduled for delivery in February and June 2017. However, in a Korea Exchange filing on 28 April, SHI said the customer had re... |