Steel And Other Material News

ClassNK has awarded an approval in principle (AiP) for the design of a prismatic ammonia fuel tank (IMO Type B independent tank) for containerships developed by Planning and Design Center for Greener Ships (GSC).The Type B tank developed by GSC has been designed to ensure safe storage of ammonia and to minimize the reduction in the number of cargo containers due to the placement of fuel tanks in consideration of operational needs.Furthermore, the shape of the storage space for the tank has been simplified from the typical bench corners for container carriers…

Prices for new dry freight containers declined to their lowest point since 2002 during first-quarter 2016 and are still going down, according to the latest edition of the Container Equipment Insight, published by global shipping consultancy Drewry. Average container equipment prices fell 15% through the first quarter, as the deteriorating outlook for trade growth impacted pricing. As a consequence of this and the fact that steel and other material costs are no longer in decline, Drewry estimates that the container manufacturing sector made a small net loss in the first quarter of 2016. Used dry freight container prices also declined further, to a level not seen since in almost a decade.

Brazilian miner Vale SA said on Thursday it produced 88.4 million tonnes of iron ore in the fourth quarter, a new record for the company.   The world's largest producer of the steel-making raw material also produced 82,700 tonnes of nickel and 1.59 million tonnes of coal in the period.   For full-year 2015, Vale produced 345.9 million tonnes of iron ore and 291,000 tonnes of nickel.     (Reporting by Jeb Blount and Luciana Bruno; Editing by Mark Potter)

China Shipping Development (CSD) and Cosco have established a joint venture (JV), China Ore Shipping Pte., in Singapore to purchase four 400,000 dwt ore carriers from Vale and operate them. CSD and Cosco’s bulk shipping division Cosco Bulk Shipping holds 49% and 51% equity shares in the JV respectively. China Ore Shipping will buy four second-hand valemax vessels from Vale Shipping Singapore Pte., a unit of the world's major iron-ore producer, for 445 million U.S. dollars, says a joint statement from the companies. It has signed a 20-year pact with Vale, under which Vale will charter ships owned by China Ore Shipping to transport the steel-making raw material to the world's second-largest economy.

World-class builder and fabricator of aluminium, steel and composite material crafts and vessels NGV Tech of Malaysia has chosen Kentec Syncro AS Marine fire control panels for vessels under fit out and refurbishment at the company's shipyard in Sijangkang Malaysia. The vessels, a 52m Multiple Utility vessel built to BV classification for the National Iranian Oil Company, a 38m DP2 Oil and Gas field support Catamaran built to ABS classification for SeaWorks Ltd. and two refurbished 38m multi-purpose oil recovery Fifi tug boats built to BV classification for Marine Services Ltd (Saudi Arabia)…

As of July 1, 2003, there were approximately 29,000 commercial self-propelled ocean-going ships worldwide in excess of 1,000 gross tons each. Of these, just over 400 are U.S. flag. In addition, there are approximately 3,000 U.S. barges of over 1,000 gross tons each. Approximately 25% of these ships and barges are more than 20 years old and will be taken out of service in the near future. The vast majority of the ships and barges taken out of service will be recycled (scrapped). Exactly when a ship is taken out of service is dependent upon a variety of factors, the most important being its maintenance costs and its current charter rate. Thus, the number of ships being offered for recycling can and does gyrate widely over time.

Conrad Industries, Inc. reported a net loss of $1.2 million and loss per diluted share of $0.16 for the three months ended September 30, 2004 compared to a net loss of $827,000 and loss per diluted share of $0.11 for the third quarter of 2003. the third quarter of 2003. compared to $26.5 million for the same period of the prior year. September 30, 2003. 2003. compared to gross profit of $741,000 (2.8% of revenue) for the first nine months of 2003. nine months of 2004 compared to the same periods in 2003. in 2003. production hours associated with the entry into the aluminum business and the execution of our backlog. steel. project totaling approximately $544,000. additional work while we waited for the notice to proceed from the customer. surging prices of steel and other price increases.