Latest News – Page 797
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Dredgers cancelled at Asia HI
Belgium's Jan De Nul NV has reportedly cancelled three dredging vessels on order at South Korea's Asia Heavy Industries. The ships were scheduled to be delivered to the owner from August to December last year but the construction of the vessels has been delayed and ultimately the owner has quashed ...
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Malaysians offer lifeline to C& Heavy
Emerging South Korean shipyard C& Heavy Industries, which was seemingly pushed to the wall by its creditors, may yet have another lease of life. The shipyard had on Monday signed a memorandum of understanding with an unnamed Malaysian fund that would hopefully lead to its full or partial takeover.While the ...
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GAC launches Ship Lay-up Solutions
GAC, the Kuwait-based provider of shipping, logistics, marine and related services, has launched GAC Ship Lay-up Solutions (GLUS), a new service package tailor-made to help owners/operators avoid non-profitable journeys, and reduce wear & tear, fuel consumption and insurance premiums during periods of low demand. When demand for ocean freight is ...
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Korean shipbuilders call on banks for support
South Korean shipyards are asking state-run lenders to increase loans and extend financing for orders as a deeper-than-expected economic slump dries up their cash holdings, industry sources said. According to the sources, the shipbuilding industry called for the Korea Development Bank and the Export-Import Bank of Korea to increase their ...
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CNOOC eyeing deepwater equipment manufacturing
China National Offshore Oil Corporation (CNOOC) has announced its plan to invest in the deepwater equipment manufacturing. In the next five to eight years, CNOOC's growth in the deepwater sector is expected to boost the development of the domestic raw material market, and to enhance the nation's shipbuilding industry, metallurgy ...
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Thyssen Krupp to sell Greek shipyard
ThyssenKrupp AG is to put Hellenic Shipyards up for sale on 1 April as part of a shake-up announced last week when it was announced that a new group structure was being put in place. Thyssen Krupp has set the end of September as a deadline for the yard's sale ...
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A silent revolution in ship management
Plagued by operational inefficiencies, inadequate cost control and flawed hierarchicalstructures, modern ship management has struggled to meet the evolving needs ofthe shipping industry. But thanks to the recent launch of Ulstein Marine Services,shipowners will soon have access to a smarter and better way to manage their fleets.Best known for shipbuilding, ...
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Tanker newbuild orders cancelled
At least 47 tanker newbuilding orders have been cancelled so far this year according to Ragnar Nielsen of Singapore-based Masterbulk. In total, some 434 newbuilding orders have been cancelled including 298 bulk carriers and 74 box ships. Nielsen said that in spite of the tanker cancellations, the number of bulk ...
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SNC Shipbuilding collapses
Fledgling South Korean yard SNC Shipbuilding is reported to have succumbed to financial difficulties, closing its doors prior to launching even a single completed vessel. The yard, which was expected to cost $179.6m to build near the port of Gwanyang, was designed to build vessels of up to 80,000 dwt ...
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LR Asia opens its first dedicated training facility
Lloyd?s Register Asia today opened its first dedicated marine surveyor training centre in Shanghai, assuring that the Group?s global marine team will continue to deliver the high technical standards demanded by the modern maritime industry. The Maritime Surveyor Training Institute (MSTI) represents more than an $8 million (£5.6 million) investment ...
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CO2 reduction in the spotlight
Shipping's green credentials will come under scrutiny at the Green Ship Technology conference in Hamburg this week when the merits of the technical solutions and proposed trading mechanisms for emissions are debated. As the industry looks to the IMO to shape its policy and agree to a set of international ...
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Protectionism in shipbuilding spreading
Shipbuilding protectionism at compatriot shipyards is abruptly spreading around the world particularly in developing countries such as Brazil, Russia, India, China, Vietnam and Qatar. Brazil has limited the bidders to domestic shipyards for a state-owned oil company's fleet expansion newbuilding program of 49 ships worth $5bn since 2005. The protectionism ...
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Hallin cancels subsea operations vessel
Singapore-based Hallin Marine Subsea International has backed out of a contract after the shipyard was unable to secure refund guarantees. Shipbuilder Marco Polo Marine in Batam confirmed that the $51 million contract for an 80m long DP2 subsea operations vessel has been terminated. "The shipbuilder has been unable to complete ...
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Seismic newbuilding cancelled
Petroleum Geo-Services ASA and its subsidiary Arrow Seismic Invest II Ltd. have exercised their right to cancel a high-capacity seismic newbuilding under construction at the Factorias Vulcano shipyard in Spain. Hull number 532 was to have been chartered to WesternGeco but this company has cancelled the charter party and all ...
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STX to help build Russian shipyard
STX Shipbuilding agreed to help build a $1 billion shipyard near the Baltic Sea port of Primorsk, Russia's biggest oil terminal, according to a statement by investment company Summa Capital. The shipyard will be completed in the next five years and focus on building oil and gas tankers p to ...
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Australian cat for Bahamas
Bahamas Ferries recently took delivery of a 41m by 12m catamaran, the Bo Hengy II, from Aluminium Marine of Queensland. Built to a design by Oceanic Yacht Design, also of Queensland, the vessel's semi-swath hull design, combined with good clearance of the bridge between the hulls, allows the high service ...
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Three thousand and counting
The Liberian Registry has passed a major milestone in its history by registering its 3,000th vessel, the newly built 105,400 DWT Aframax tanker Ise Princess for Fairsea Enterprises SA and managed and operated by Tsakos Shipping & Trading SA of Greece.Scott Bergeron. Chief Operating Officer of the Liberian International Ship ...
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Wadan secures life-saving deal
The crisis-ridden Wadan Yards in Wismar and Rostock-Warnemünde have received new shipbuilding orders totalling ?1bn. Wadan Yards' Russian co-owner Andrej Burlakow announced that four passenger ships, each worth ?250m, would be built at Wadan Yards. The work would start before the beginning of the summer, he said.Wadan Yards was not ...
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Restructuring in Korean and Chinese shipbuilding criticised
South Korean and Chinese efforts to restructure their respective shipbuilding sectors are backward looking and inadequate , according to Shipbuilders' Association of Japan executive director Nobutaka Nambu. Nambu said that he would be looking to the government to insist on a fair competition environment in the face of government intervention ...
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Samsung poised to win Russian orders
Samsung Heavy Industries vice-chairman Kim Jing-wan recently said, "We may receive new orders from Russia next month." He said in an interview with local press, "From the second half considerable amount of new orders will be placed at Samsung Heavy as there are plans of offshore plant newbuilding."The South Korean ...
