Shipbuilders Rally as Hope Builds

Thursday, July 16, 2009

Shipbuilder stocks in Korea rallied today, apparently fueled on hopes the shipbuilding industry had hit bottom in the second quarter and that demand for new vessels may revive as world economies stabilize, according to a Reuters report. Reuters reported that Daewoo Securities said in a note on Thursday that a sectoral turnaround was expected in the third quarter, adding that companies with strong offshore plants were recommended. A precipitous fall in steel pricing has helped shipbuilder's profitability. Hyundai Heavy Industries, the world's largest shipbuilder, rose 3.85 percent to 189,000 won and Samsung Heavy Industries advanced 5.89 percent to 27,850 won as of 0230 GMT.Daewoo Shipbuilding Marine Engineering and STX Offshore & Shipbuilding also climbed 4.96 percent and 7.27 percent each.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

James Troop Supplies Engines for 3 Naval Vessels

Liverpool City Region (UK) based ship engine specialist James Troop & Co has won an order to supply Volvo Penta diesel engines for three European naval vessels being built on Merseyside.

OSV Delivered to MC2 in Dubai

Marine Core & Charter LLC (MC2) headquartered in Dubai has taken delivery of the new build PETRA-1, the first of two, 45-meter Fast Offshore Support Vessels in

Six New VLCCs Marks the Start of a Busy Delivery Year

2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, says a report BIMCO.

Finance

Baltic Index Pauses at Record Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions

Long Beach Sees Robust Container Growth

The Port of Long Beach kicked off 2016 by logging its seventh straight month of cargo increases, showing a 24.8 percent jump in container shipments over the same month last year.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0772 sec (13 req/sec)