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Shipbuilding

Korean Shipbuilders' Unsold Newbuilds

Korea's leading shipbuilders post declining profits in second quarter 2012, as well as a growing inventory of unsold vessels. Shipbuilders here have put unsold ships up for resale at below-market prices but are…

Legal

China Aids its Shipowners with Leasing Plan

China initiates a trial program in Shanghai designed to help the nation’s beleaguered shipowners. Under the new policy by the Ministry of Transport, ships leased by shipping companies from financing firms could be…

Tankers

Odfjell Buys New Vessel

Odfjell entered into a contract for the purchase of MT Holly Galaxy, a 19,975 dwt chemical tanker (IMO II/III) with 22 stainless steel cargo tanks, built in 2006 at Fukuoka Shipbuilding in Japan. The vessel will be…