Shipbuilding & Shipyards
Guangzhou: China State Shipbuilding Corp unit Guangzhou Shipyard International (GSI) saw 2012 net profit plunge 98% to RMB10.33m ($1.66m) from RMB518.33m previously as newbuilding prices fell and costs rose.
Singapore: Asian shipowners have hit out at a proposed European regulation on ship recycling saying it undermines the Hong Kong Convention and lead to a shortage of shipbreaking capacity globally.
Tokyo: Japanese shipyards Mitsubishi Heavy Industries (MHI) and Imabari Shipbuilding have established a joint venture MI LNG Company to handle the design and marketing of LNG carriers.
Singapore: Chinese shipyards are offering “crazy payment terms” to try and break into the rigbuilding sector according to a senior executive from Keppel Offshore and Marine (Keppel O&M).