Taiwan’s China Steel Express Corporation (CSE) has placed orders for four large bulker carriers at a total price of $187m with shipbuilders CSBC Corp and Japan Marine United.
Finnish engine maker Wartsila is expecting “huge growth opportunities” for the group in China’s massive shipbuilding industry, according to president of Wartsila China James Han, who also expressed concerns over the sector’s troubling weight of overcapacity.
China’s shipyards have seen their newbuilding deals and order backlog deflate by around 30% in the first five months compared to the same period of last year, according to figures from China Association of the National Shipbuilding Industry (Cansi).
Hyundai Samho Heavy Industries, an affiliate of Hyundai Heavy Industries (HHI), has informed that Korea’s IMM Private Equity has agreed to increase its pre-IPO investment into Hyundai Samho to KRW400bn ($360m) from KRW300bn.
Hyundai Heavy Industries (HHI) has landed a contract to build three VLOCs for compatriot Polaris Shipping Co, the local media reported.
The last of seven former Singapore Technologies Marine (ST Marine) senior officials has been sentenced by a Singapore court on Monday, wrapping up the lengthy proceedings of a corruption case since it was publicly announced in September 2011.
Dubai-based Tomini Shipping has booked three 64,000-dwt ultramax bulk carriers at China Shipping Industry (Jiangsu) Co, reports said.