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Lundh’s chemical coup
Swedish shipbroker races to cash in on management of small Turkish chemical tankers built on spec during the market boom.
Help arrives
The Finnish government has agreed a support package worth EUR 500m ($696m) to boost its beleaguered shipyard industry.
It said the cash would go towards improving technology at STX Europe’s Turku shipyard, which is laying off 430 workers this year after its orderbook shrank to just one cruiseship for Royal Caribbean.
Some of the money would also be used for “export funding assistance.”
"The exact contents and scale of these actions will be decided later ... taking into account EU competition and state support rules," the government said in a statement, adding the scheme would start in the spring of 2010.
The government also said it had discussed bringing forward some of its own orders to boost the industry, but nothing had been decided and any such actions would be included in future supplementary budgets.
Latest News
RLOG on the up
Great Lakes bulker specialist predicts another profitable year as expanded fleet lifts bottom line.
Full circle for finance man
Investment banker Kevin O'Hara has rejoined New York boutique firm AMA Capital Partners after seven years.
Iran facing shipping squeeze
Trade dwindling as Maersk and Hapag-Lloyd among those pulling out due to US and EU sanctions.
Strike three for Saverys
Shipowner Marc Saverys continues to sell off stock in shipbroker Clarksons.
DSX plays down Daelim drama
Cargill steps in as South Korean charterer coughs up cash to cover early return of bulker to US-listed owner.
Tough end for ASL Marine
Singapore-listed offshore company sees revenue and earnings sliced by a quarter in the final period of 2011.
Dividend chop just the start
Axing of shareholder payouts at OSG may need to be accompanied by asset sales, analyst says.
Peel plots post-panamax port
Port of Liverpool owner ready to spend £250m on new containership facility at Seaforth.
Seabird swoops on contract
Oslo-listed seismic outfit eases financial troubles with award of $13m deal.
GE earnings cut
Weaker bulker markets in third quarter sees Indian owner's profit chopped, but tankers improve.
BLT has some backing
Creditors are being supportive of Indonesian owner’s restructuring efforts, says Kevin Wong.
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