Despite the doom and gloom that the dry bulk market has experienced during the past couple of years and especially during 2012, ship owners have increased the rate of their newbuilding orders in the sector, as they are looking for investment opportunities, trigerred by lower prices in various shipyards (close to historical lows), a factor which is difficult to be ignored by many owners. According to the latest report from Piraeus-based shipbroker Golden Destiny, "overall the past week ended wi...

PARIS - May 6, 2013 - GE’s Power Conversion business (NYSE: GE) unveils a new power and propulsion system that reduces fuel consumption by controlling engine speed on platform support vessels at OTC. The Variable Frequency Active Front-End power and propulsion system, or VF-AFE, enables ship owners using conventional power system components to lower engine speeds when feasible, cut fuel consumption and reduce emissions and maintenance requirements. “We are increasing efficiency of existing ...

Geoje in South Gyeongsang Province of Korea has requested a service for ‘a decision on urban management plan (change) and execution plan’ regarding an establishment of an offshore plant industry support center. The city has announced on May 6 that it will begin a service for building the center within this month and complete the service early next year.  The offshore plant industry support center is planned to be constructed in 169,000㎡ of woods and fields in Jangmok-ri, Jangmok-myeon,...

Newbuilding demand maintained momentum through April, particularly in the supramax and handysize segments, as buyers jostled to place low cost orders. Japanese builders have secured enough contracts to maintain production to the end of 2015 and in many cases 2016, allowing them sufficient breathing space to increase prices as they moved into the new fiscal year. As a result interest has shifted to top tier yards in China who have managed to cover their positions for 2014 and FH 2015 allowing t...