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 Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

MN 100: ContainerTug B.V.

The Company: ContainerTug B.V. is a specialized Dutch naval design engineering and construction company with a strong focus on developing workboats and the evaluation

Oman Drydock Company Expands Rapidly

Oman Drydock Company (ODC) is growing fast. In January, the yard hit an important milestone - its 300th drydocking. Harnessing the power of its new $1.8 billion, 1.

NASSCO Invests in Facilities, Equipment and People

General Dynamics NASSCO has invested several hundred million in capital projects as part of its efforts to increase efficiencies via  modular shipbuilding, including:

Finance

Optimistic on VLCC Market

Shipbroker Charles R. Weber is quite optimistic on the future prospects of the VLCC market for 2016 onwards.   The demand is expected to remain elevated with

Goldenport Bleeds in Red

Goldenport Holdings Inc reported a net loss of USD14.7 million in the first six months of 2015, significantly wider than the USD1.4 million net loss a year earlier

Strong Returns for Sovcomflot

Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months.

 
 
Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators 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: 0.1310 sec (8 req/sec)