Wednesday, May 20, 2009

Daily news - 20 May

PetroRig I acts to block rig sale by Jurong Shipyard
Jurong Shipyard's planned sale of a disputed rig could hit a roadblock after PetroRig I Pte Ltd filed an application before the bankruptcy courts in New York yesterday. The application is seeking a preliminary injunction restraining Jurong Shipyard, a unit of Sembcorp Marine, from selling the rig, and comes just hours before today's noon deadline for interested parties to submit their bids.

Yangzijiang deliveries unaffected by changes
China-based Yangzijiang Shipbuilding (Holdings) reported that its delivery schedule has been on track with 11 vessels worth US$445.9 million delivered so far this year, even as it helps customers ride through the downturn. The group has recently accommodated two requests for change of vessel type -from two 1,350 twenty-foot equivalent (TEU) container ships to three 13,000 deadweight tonne (dwt) dry bulkers, and from two 4,250 TEU vessels to two
92,500 dwt vessels.

Noble waives Gloucester condition, offers final price
Noble Group has waived a key condition of its offer for Gloucester Coal and says that its offer price is final. In a statement, the commodities trader said its bid for Gloucester is no longer
conditional on the latter's merger with Whitehaven Coal not going ahead, and that its offer price will not be revised in the absence of a superior proposal.

Source: Kim Eng

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