Latest News – Page 813
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Ships created in Kochi set to sail soon
Ships designed in Kochi, India, will soon sail the world?s oceans with the Cochin Special Economic Zone (CSEZ)-based centre of the Bahamas-based Smart Engineering and Design Solutions Limited (SEDS) completing the first of its designs, now undergoing tests in Europe.The SEDS unit started functioning in the Cochin Special Economic Zone ...
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IMO to address ship recycling
Ship Recycling, a challenging aspect on the conscience of shipping, is finally being addressed by the Marine Environment Protection Committee (MEPC). The MEPC convened its 58th meeting and, amongst others, approved the final draft of the Convention on Safe and Environmentally Sound Recycling of Ships, to be considered for final ...
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Malta extends shipyard deadline
The government of Malta is to extend its call for expressions of interest in the privatisation of Malta Shipyards by a week, until 3 November. The call is being extended in view of the changed circumstances brought about by the strong response to the early retirement schemes offered to the ...
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Vietnam wins export contracts
Nha Trang Shipyard of Vietnam Shipbuilding Industry Corporation (VINASHIN) has won two contracts to build four new cargo ships for companies in Norway and Laos. The contracts with Laos LS Tourism and Transport Company is worth $63 million for two ships of 20,000 and 22,500 DWT. The smaller of the ...
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New Chinese yard quits shipbuilding
A new private Chinese shipbuilder, Jiangsu Xiangshui Suncia Shipbuilding Industry, has confirmed it has exited the newbuild sector having failed to secure refund. The yard which was founded last year aimed to build private yachts as well as handysize and handymaxes and had German KG Konig and Cie on its ...
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Keppel mulls growth opportunities in Brazil
Singapore-based Keppel Offshore & Marine (Keppel O&M) is looking at options to expand its operations in Brazil to benefit from an expanded rig demand in the country over the next few years.The country's state-owned oil and gas company Petrobras has indicated plans to tender for the construction of 28 deepwater ...
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Hanwha wins Daewoo bid
Hanwha Group was chosen by South Korea's state-run Korea Development Bank (KDB) as the preferred bidder for a controlling stake in Daewoo Shipbuilding & Marine Engineering. Chung In-Sung, deputy governor of the KDB, said "Hanwha was found to best fit our criteria of selection, including bid price, management ability and ...
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DDW to take stake in Chinese shipyard
Dubai Drydocks World (DDW), the ship repair, conversion and building subsidiary of Dubai World, has agreed to acquire a 60% stake in a Chinese shipyard for $55 million. The acquisition will be a joint venture with Singapore-based Topniche Associates owning the remaining 40% of the shipyard, which is located in ...
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Appledore Shipyard workers take industrial action
Trade union members at Appledore Shipyard in the UK say they want the same money as workers at other Babcock International-owned yards involved in Britain's new aircraft carriers. The Appledore yard is earmarked to help build hull sections for two of the UK's next generation of aircraft carriers and the ...
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Havyard Solstrand bankrupt
Havyard Solstrand shipyard in Norway has filed for bankruptcy after the banks removed their funding. The yard, which is owned 80% by the Havyard Group is fighting for its long term future because contract prices for the offshore vessels it is currently building are lower than the production costs and ...
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Posco eligible for possible new Daewoo bid
South Korea's steelmaker POSCO may be able to join a fresh bidding for Daewoo Shipbuilding & Marine Engineering if a prime bidder is not chosen later this week, the chief of Korea Development Bank (KDB) said. Two local companies, Hyundai Heavy Industries and Hanwha Group, have made bids for a ...
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DW to open new Batam facility
Drydocks World, a unit of Dubai World, will develop a $300 million marine services centre on Indonesia's Batam Island as the company expands its ship repair and fabrication business in Southeast Asia. Chief executive officer Geoff Taylor said DW will hold an 80% stake in the project in which Dubai-based ...
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C&H in financial peril
The South Korean yard of C& Heavy Industries (C&HI) was in dire trouble prior to the current global financial turmoil and is now struggling to offload assets to appease debtors. No one bid for its second shipyard on Koje Island in a public tender that ended last week, the group ...
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Wilsons confirms Rio Grande shipyard investment
Ocean Wilsons Holdings Ltd. (OWH) reaffirms its growth strategy by investing in the construction of a new shipyard in Rio Grande. The company said Conselho de Autoridade Portuia (CAP), Rio Grande do Sul's port authority council, approved modifications to existing zoning standards of the shipyard, allowing for new shipping construction ...
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GE gas turbines to power LHA 6
GE Marine announced that its LM2500+ marine aero derivative gas turbines have been selected by Northrop Grumman Shipbuilding (NGSB), Pascagoula, Miss., to power the US Navy?s new LHA 6 amphibious assault ship. "The selection of the LM2500+ gas turbines offers propulsion commonality for this first-in-class ship with the U.S. Navy?s ...
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Shipbuilding under pressure
According to Bao Zhangjing, chief researcher from China Ship Marketing Research Centre, "Against the background of global economy recession, cancellation of new ships has already aroused serious attention from shipbuilding industry all over the world." Clarkson Research Studies show that global orders for 94 new ships were cancelled during January ...
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Hyundai, Hanwha gear up for Daewoo battle
A two-way competition is poised to heat up between Hyundai Heavy Industries and Hanwha Group for the acquisition of Daewoo Shipbuilding & Marine Engineering Co., with a final winner likely to be selected this week. State-run Korea Development Bank, which is arranging the sale of a controlling stake in Daewoo ...
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EU urges Polish yards to abandon shipbuilding
EU competition chief Neelie Kroes has rejected Polish restructuring proposals for the state-controlled yards of Gdynia and Szczecin and the privatised Gdansk yard, a move which would bankrupt them. Instead, Kroes is proposing a plan that would involve selling off the two state-owned yards' assets and using the proceeds to ...
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Asry eyes major expansion
A "new look" Arab Shipbuilding and Repair Yard Company (Asry) is to undergo a $188 million expansion over the next 30 months. Asry chairman Shaikh Daij Bin Salman Bin Daij Al Khalifa said the expansion would consist of a basic quay wall and an offshore launching pier. "It would also ...
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Joint study on impact of ice on tankers in the Arctic
ABS, ConocoPhillips, Sovcomflot, and Samsung Heavy Industries (SHI) are jointly participating in a pioneering study measuring the effect of ice loads on Arctic class shuttle tanker performance. Owing to the newness of these larger Arctic vessels, even experienced ice navigators can benefit from additional guidance when selecting the desired speed, ...
