General News – Page 361
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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, ...
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New partnership in liferafts
Two major players in the safety business are joining forces to help customers simplify their life raft compliance issues. Through this agreement with the Survitec Group, Wilhelmsen Ships Service is introducing Unitor-branded life rafts to the maritime market. From October 2008 the Survitec Group will manufacture the ?Unitor? brand life ...
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New Intercargo Secretary General takes up the reins
At the Intercargo Annual Meeting, asociation members endorsed the planned succession of Secretary General from Roger Holt to Rob Lomas with effect from today?s meeting, with Holt staying on for a further year as Consultant Director to promote Intercargo and its Work Programme.Speaking at the meeting, Nicky Pappadakis, Intercargo?s Chairman, ...
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There is still hope for Polish shipyards
Polish Prime Minister Donald Tusk met with the head of the European Commission Tuesday evening to discuss the future of the Polish shipbuilding industry. The fate of the yards is in the hands of the Commission, if it rejects the restructuring plans the yards will be obliged to pay back ...
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Philly yard reshuffles programme
Norway-listed American Shipping Company (ASC) lacks financing for two out of 12 planned vessels, so it will change the sequence of construction at Aker Philadelphia Shipyard, the companies said.ASC said in a statement on Wednesday it had not been able to arrange financing for two shuttle tankers in the programme, ...
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Croatia shipyards' privatization to begin
Croatia has decided to call tenders for the privatization of its shipyards, except for Uljanik, in the second half of November, said Minister of economy Damir Polancec. The offering price of the shipyards is set at HRK 1 per share. Employees of the shipyards will be able to buy up ...
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Hamworthy to supply nitrogen generator systems
Hamworthy Moss AS has won a major contract to supply 10 nitrogen generator systems for a series of 47,500 dwt chemical carriers being built for IRISL by Hyundai Mipo Dockyard in Korea. The 10 ships will be delivered between 2010 and 2012. A total value of more than $11 million ...
