STX Shipbuilding Wins Orders

Monday, May 13, 2002
According to wire reports, STX Shipbuilding of South Korea has won orders from two companies for seven chemical product carriers for a combined $210 million. Four 70,500-dwt product tankers are reportedly destined for SAF Bulk Maritime of South Africa, while three 45,800-dwt carriers are said to be going to Arminter of Monaco by the end of 2004.

Contracts

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

Finance

China Cosco Sinks into Red

Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half,

India Shipping Ministry Enlarges Scope of Sagarmala

India's Ministry of Shipping has formulated a revised Central Sector Scheme to provide financial support to Major and Non-Major Ports as well as State Governments

Industry Wants Hanjin Shipping to Merge with Hyundai Merchant Marine

The Korea Shipowners’ Association (KSA) has officially suggested Hanjin Shipping merge with Hyundai Merchant Marine (HMM) to prevent  court receivership and liquidation, reports Business Korea.

 
 
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