Medium Sized Product News

With the summer holidays slowly drawing to a conclusion the newbuilding market has remained relatively quiet this week, though Clarkson Hellas Weekly S+P anticipate activity to pick up again shortly. Somewhat reflective of this subdued activity is that Clarkson have seen no new orders reported in the dry bulk this week, which contrasts directly with the activity witnessed in this sector so far this year. That being said, the market has however witnessed further activity in the medium size tanker sector as well as in the larger sizes of both the gas and particularly containers markets.

AVEVA announces new contract with leading Korean marine company AVEVA , a leading provider of plant and marine design and engineering lifecycle solutions, announced its win of a new contract with leading Korean shipbuilder, SLS Shipbuilding Co. Ltd. in Gyeongnam. SLS Shipbuilding Co. Ltd. is one of Korea’s oldest and leading shipyards, internationally recognised as a highly specialised constructor of medium sized vessels and chemical tankers. The group has contracts to manufacture up to 18 of the region’s chemical tankers and ships in 2007, with plans to produce an additional 30 vessels in 2010. The company seeks to become a world leader in the production of medium sized product and chemical tankers.