All Motorship articles in Web Issue – Page 1021
-
News
Tyneside yard faces closure
More than half the workforce at a troubled British shipyard has been made redundant. About 160 of the 240 workers employed at McNulty Offshore in South Shields, South Tyneside, will lose their jobs, while the future of 82 sub-contractors remains uncertain.The firm, which is one of the largest employers in ...
-
News
Hanjin HI wins boxship quintet
Hanjin Heavy Industries in Korea has won an order for five 4,000TEU container ships from an unidentified European shipowner at a total cost of $365 million. All units will be delivered by the first quarter of 2009.
-
News
Prompt Hyundai earns bonus
Hyundai Heavy Industries (HHI) earned a $10 million bonus for sticking to "three strict conditions" laid down the US oil giant Exxon Mobil that had ordered an FPSO from the Korean shipbuilder. The $800 million FPSO had been ordered in December 2002 and Exxon Mobil laid down three conditions, i.e. ...
-
News
SembCorp announces 1Q results
The Singapore-based shipyard, SembCorp Marine, has posted a 13% rise in first-quarter net profit to $14.5 million. The increase was helped by record oil prices which fuelled demand for the company?s services. Turnover was up 83% to $272 million, boosted mainly by new building and conversion work. SembCorp says it's ...
-
News
Sovcomflot fleet expansion
Sovcomflot, Russia's largest shipping company, is continuing its fleet re-equipment and modernization programme on the back of the high demand in the energy sector and the capabilities of the Russian shipbuilding industry. Earlier this month, the company signed a memorandum of intentions with the Severnaya Shipyard for the construction of ...
-
News
Jotun develops smart primer
Jotun, the Norwegian paint manufacturer, has developed an epoxy primer designed for real life use on small maintenance areas. This unique primer, called Jotamastic Smart Pack, is designed specifically for use with brushes and rollers.Most epoxy primers can be used with brush and rollers, but with varying results, and expected ...
-
News
Daewoo inks Exmar VLGCs
Daewoo Shipbuilding in South Korea has secured a contract for two 84,000 cbm LPG carriers from the Belgian shipowner Exmar for delivery during fourth quarter 2007 and first quarter 2008. No price has been revealed but industry sources suggest $92 million each. DSME announced that its turnover for the first ...
-
News
IMC signs deal with Zhejiang company
The Singapore-based IMC Group has signed a joint venture deal with Zhejiang Yongyue Shipping from China during a recent meeting of the Singapore-Zhejiang Economic and Trade Council in Singapore. The 50/50 joint venture company will acquire a ship building and repair base in Zhoushan at a total cost of $160 ...
-
News
Norwegian yard plans Bulgarian venture
The Norwegian shipbuilder and ship repairer Bergen Yards is planning to move some of its production of special-purpose vessels to Bulyard Shipbuilding Industry (BSI), according to Bergen Yards? marketing director Magnus Stangeland. The partnership option was incorporated in a letter of intent signed by the two companies in late 2004. ...
-
News
Norwegian yards recruit imported labour
Norwegian shipbuilding industry is recovering from last year's slump, but Norwegian workers who were laid off are not being re-hired. Instead, the yards are employing cheaper labour from Poland according to local sources. . Around 100 former shipyard workers are registered as unemployed in the main Sunnmoere ship building district, ...
-
News
Wartsila goes to India
Wartsila Group has identified India as a major base for sourcing components and parts for its global needs. "The group is looking at sourcing parts from India, in addition to sourcing trained manpower for our global requirements," Head of Service, Wartsila India, Rakesh Sarin told a group of reporters. Wartsila ...
-
News
NGV wins export orders
The Malaysian shipbuilder NGV Tech Sdn Bhd is finalising contracts worth $31.6 million to build two fast aluminium boats for an Indonesian client and three logistics (steel hull and aluminium superstructure) vessels for a Middle East government.The company, whose expertise is in aluminium vessels, is currently completing three high-speed patrol ...
-
News
Korea delivers first new tanker to GEM
Dubai-based Gulf Energy Maritime (GEM) has taken delivery of the first of four 65,000DWT ddouble hull Panamax tankers it has on order from Korean shipbuilder, Hyundai Heavy Industries, three months ahead of schedule. Named ?Gulf Pearl?, the vessel will immediately go into service with Glencore as part of a three ...
-
News
Daewoo may show loss
Daewoo Shipbuilding & Marine Engineering (DSME) may report losses for the first quarter after steel costs rose dramatically. DSME is expected to report a net loss of $27 million, according to financial analysts, compared to a profit of $100 million for the same period last year. Daewoo, Hyundai and Samsung ...
-
News
Keppel wins Kazakhstan contract
Keppel Kazakhstan, a unit of Keppel Corporation Limited through Keppel Offshore & Marine Ltd (Keppel O&M), has secured a contract estimated at $150 million from Agip Kazakhstan North Caspian Operating Company (Agip KCO). The contract is for the fabrication of pipe racks and build four barges. Upon completion, they will ...
-
News
Basque yard launches oilrig rescue vessel
Balenciaga shipyard in Zumaya, Spain, has launched the ?Grampian Commander?, the first of four vessels destined for the Scottish port of Aberdeen, where they are to be operated by North Star Shipping. The $44 million-plus contract ensures that the shipyard will be fully occupied until the end of 2006.The newbuilding ...
-
News
Asry prospects 'healthy'
Over 2.26 million dwt of vessels were repaired by the Arab Shipbuilding and Repair Yard (Asry) during the first three months of the year with all indications that the trend will continue, according to a company statement.Some 43 vessels were docked for repairs and refurbishment, up 20% on the same ...
-
News
HHI wins VLGC trio
Hyundai Heavy Industries has secured three 82,000 cubic meters LPG carrier from CMM of Greece worth $280 million. The newbuildings will measure 225m long, 36.6m wide, 22m deep with service speed of 16.75 knots and will be delivered by 2008. They will be the largest of their type built to ...
-
News
Quartet feeders for Ostsee
Aker Ostsee in Germany, a subsidiary of Aker Yards, has been awarded a contract to build four container vessels for Reederei Gebr. Winter GmbH in Hamburg, Germany. The vessels are of the newly developed type Aker CS 1700. The total contract value is approximately EUR 120 million ($155 million). The ...
-
News
WTO rejects South Korea challenge
The World Trade Organisation (WTO) largely rejected a South Korean challenge against European Union subsidies to shipbuilders, but also admonished the EU in a long-running dispute between the two sides. The WTO rejected Seoul's claims that state aid for yards in Europe breached three separate accords on global commerce, which ...
