STX Raises Target

Thursday, July 12, 2007
STX Group, of which STX Shipbuilding Co. is an affiliate, has almost doubled its ship order target to $10 billion according to a report on Bloomsberg. This news is reported on the heels of a report that Daewoo Shipbuilding’s projections for 2007 has soared nearly 55%, from $11 to $17B. The previous order target for the year for STX had been $5.3 billion. The main driver for the dramatic rise: increasing orders for high-valued ships such as large containerships and VLCCs, according to the report. (Source: Bloomberg)

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.

Shipbuilding

NASSCO Christens LNG-ready Tanker Constitution

On Saturday, August 27, shipbuilders at General Dynamics NASSCO celebrated the christening and launch of the Constitution, the sixth ship in a series of eight eco-friendly

California: A Strong Shipbuilding State

Fifth in the nation for direct employment, California shipbuilding and repair industry supports nearly 35,000 jobs; Maritime Administrator highlights economic importance

Intermarine's Industrial Skipper Completes Maiden Voyage

Intermarine, LLC announced the July delivery of the M/V Industrial Skipper from Shandong Huanghai shipyard in Rongcheng, China. The ship transported modules to Corpus Christi,

 
 
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