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

People & Company News

Hike in Service Tax at Indian Ports

  The Indian Ministry of Finance has advised an increase in service tax and applicable at all ports. The effective date has not yet been announced. The

Vessels for the Future – New R&D Initiative

Looking ahead to 2020 and beyond, both maritime and inland waterways will be under ever increasing pressure, as we use them for transport, recreation and commercially.

Navy Reserve Celebrates Centennial Anniversary

Service members and civilians packed the Pentagon Library Conference Center for the Navy Reserve Centennial Kickoff Celebration March 2. Chief of Navy Reserve Vice Adm.

Contracts

Holland America Line Appoints Geivett as Director, Social Media

Holland America Line has hired Kathryn Geivett as director, social media. In this capacity Geivett’s primary responsibility will be to drive, plan and oversee

Faster Rotterdam-St Petersburg link

The Rotterdam (Netherlands)-based neutral consolidator FPS Famous Pacific Shipping has launched a new, weekly ocean LCL service from Rotterdam to St Petersburg

Maersk Drilling Secures Contract for Newest Drillship

Maersk Drilling was awarded a contract from eni Ghana Exploration and Production Ltd. for employment of the newbuild drillship Maersk Voyager.   The contract

Shipbuilding

BW LPG Exercises Purchase Option on Vermilion First

BW LPG Limited exercises purchase option over Very Large Gas Carrier Vermilion First. The VLGC Vermilion First has been on a time charter with BW LPG since

MV Sheila Bordelon to be Christened

Bordelon Marine is partnering with Susan G. Komen as part of its continuing relationship to christen the MV Shelia Bordelon on Friday, March 20th at Bordelon Marine Shipbuilders in Houma, LA.

25,000-TEU Ships Possible, Not Practical

Maersk Line CEO Soren Skou said ships with capacities of 25,000 twenty-foot-equivalent units are possible but not practical today, and that he expects 18,000-19,

Finance

Hike in Service Tax at Indian Ports

  The Indian Ministry of Finance has advised an increase in service tax and applicable at all ports. The effective date has not yet been announced. The

Vessels for the Future – New R&D Initiative

Looking ahead to 2020 and beyond, both maritime and inland waterways will be under ever increasing pressure, as we use them for transport, recreation and commercially.

“Bright Ideas” program - Ash Center - Harvard University

The Ash Center for Democratic Governance and Innovation at the John F. Kennedy School of Government, Harvard University, recognized the Port of Houston Partners

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
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: 0.2484 sec (4 req/sec)