Greek Shipowner Doubts Major China Shipbuilder Can Deliver

MarineLink.com
Thursday, December 05, 2013
Rongsheng Shipyard: Rendering credit Rongsheng

China Rongsheng Heavy Industries Group, the country’s largest private shipbuilder, expects to report a substantial full-year loss just months after it appealed to the government for financial help, reports Reuters.

Analysts have indicated that the company could be the biggest casualty of a local shipbuilding industry suffering from overcapacity and shrinking orders amid a global shipping downturn.

Greek shipowner DryShips Inc. which has four dry-bulk carriers on order at the company’s shipbuilding subsidiary, Jiangsu Rongsheng Heavy Industries, has already questioned whether some of the ships on order at China Rongsheng will be delivered, which could hit its revenue and profitability next year, reports Reuters, citing Ziad Nakhleh, DryShips chief financial officer.

Source: Reuters

 

Maritime Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MARAD, ABS Sign MOA for NDRF Class and Survey

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced it has signed a new Memorandum of Agreement (MOA) with the American Bureau of Shipping (ABS),

Salvage Crews Avert Disaster in the Galápagos

Mammoet Salvage helps avert environmental disaster in the Galápagos Islands Mammoet Salvage and its partner, CPT Remolcadores SA of Chile, recently responded

SEACOR Holdings Announces Q2 Results

SEACOR Holdings Inc. has announced its results for its second quarter ended June 30, 2014. For the quarter ended June 30, 2014, net income attributable to SEACOR Holdings Inc.

Contracts

ESS Lands Second Contract with Dolphin Drilling

ESS Support Services Worldwide, part of Compass Group, has won a new, three-year contract, worth £10.5 million, to provide hotel and catering services to Dolphin Drilling Ltd.

Korea Shipbuilder Wins US$400-M Greek Order

Daewoo Shipbuilding & Marine Engineering Co., South Korea’s second-largest shipbuilder, says it has signed a contract to build 4 tankships for Maran Tankers Management,

Rolls Royce Marine Awarded LCS Engine Repair Contract

U.S. Department of Defense informs that Rolls Royce Marine North America, Walpole, Massachusetts, is being awarded a US$9,000,000 firm-fixed-price repair order

Shipbuilding

Jinhai Heavy Industry Secures Another Invention Patent

Jinhai Heavy Industry of China has received patent rights for its large ship superstructure hoisting method after a state intellectual property review. The patent rights is for twenty years.

Korea Shipbuilder Wins US$400-M Greek Order

Daewoo Shipbuilding & Marine Engineering Co., South Korea’s second-largest shipbuilder, says it has signed a contract to build 4 tankships for Maran Tankers Management,

Tuco Marine Sells First ProZero Fast Workboat

Tuco Marine Group says that it has sold its first boat shortly after the launch of ProZero, the new range of boats for the professional market. The vessel was sold

Finance

SEACOR Holdings Announces Q2 Results

SEACOR Holdings Inc. has announced its results for its second quarter ended June 30, 2014. For the quarter ended June 30, 2014, net income attributable to SEACOR Holdings Inc.

Asia-N.Europe Container Freight Rates Jump 21%

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 21 percent to $1,455 per 20-foot container (TEU) in the week ended on Friday,

Dan-Bunkering Restructures for Expansion

Bunker trading company A/S Dan-Bunkering Ltd. introduced a new organizational structure effective August 1, 2014. The company said the move was made to maintain its position,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | 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: 0.4320 sec (2 req/sec)