Industry News – Page 358
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German shipyards face mounting cancellations
German shipbuilders face order cancellations worth as much as 936 million Euros ($1.2 billion) this year as the industry reels from overcapacity, the Economy Ministry said. Shipyards in ports from Emden in the west to Rostock in the east may report as many as 29 cancellations in 2009, equal to ...
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Japan ship orders decline
Japanese export ship orders tumbled on a year-on-year basis for the fifth consecutive month in February as demand for new vessels flagged amid the deepening global economic slump. Japan received orders for export ships totalling 293,270 gt in February, 84% down from the same month of last year, according to ...
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Creditors end debt workout for C&Heavy
Creditors of C&Heavy Industries Co in South Korea announced that they have terminated the troubled shipbuilder?s debt workout program. The move came after a Malaysian fund that showed interest in taking over C&Heavy failed to put down a 10 billion won ($6.98 million) deposit before yesterday?s deadline, said a spokesman ...
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New Queen revealed
Cunard Line revealed the first details of its 90,400gt newbuild Queen Elizabeth from Fincantieri?s Monfalcone yard, due to enter service in October 2010. The vessel will be the second largest Cunarder built in the 169-year history of the line and, with the Queen Mary 2 and Queen Victoria, will give ...
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Korean shipbuilders expanding into new markets
Korean shipbuilders are diversifying and introducing new advanced shipbuilding technologies to continue growing in a hostile business environment. Samsung Heavy Industries recently completed construction of the world?s largest semi-submersible offshore oil rig, which will be delivered to Seadrill. The platform, named West Eminence, weighs 30,000 tonnes, is 112 metres tall, ...
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Qingshan delivers first 57,000 dwt vessel
Qingshan shipyard of China Changjiang Shipbuilding Industry in Wuhan officially delivered its first 57,000 dwt bulk carrier which will be exported to Greece this month. It is the largest ship built in the central China area, made possible by extensive dredging of the Yangtze. The ship designed by Shanghai Ship ...
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Hyundai sets ambitious order target
Hyundai Heavy Industries aims to win $21.1 billion worth of orders this year, down 33% from last year's figure. Last year, the shipbuilder clinched orders valued at a record $28.2 billion, up 12.77% from $25 billion a year earlier, mainly thanks to rising demand for high-value ships.It is unclear, however, ...
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Newbuilding orders plunge
According to the latest statistics, global shipbuilding industry signed only 193,000 DWT new ship deals in February down by 98.4% year on year reaching merely 1.5% of the single month's volume in 2004. Among the 7 vessels agreed in February were 2 dry bulk cargo vessels, 2 multi-functional vessels, 2 ...
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Creditors end debt workout for C&Heavy
Creditors of C&Heavy Industries Co. said they have terminated a three-month debt workout program for the beleaguered small shipbuilder in South Korea and will make a final decision next week. The creditors, led by Woori Bank, declared that their debt rescheduling for the shipbuilder has ended and said they will ...
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Irving receives order for OSV
Canada's Atlantic Towing has forged a long-term charter deal with EnCana Corp that will see it build an offshore supply vessel (OSV) at Halifax Shipyard. Atlantic, the vessel operating subsidiary of Irving Shipbuilding, said that it will operate the newbuilding for Calgary-based natural gas company EnCana.The vessel will serve EnCana ...
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STX Offshore & Shipbuilding has arrived
South Korea's STX Shipbuilding has changed its name to "STX Offshore and Shipbuilding". The new name reflects the company's plans for expansion in the offshore plant sector which is being actively promoted by the firm from this year.STX Shipbuilding aims to foray into offshore sector in earnest, focusing on building ...
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Trouble at Keppel Cebu
Workers at the Keppel Cebu Shipyard, Inc. are protesting against a management decision to enforce job rotation. Management, however, was unaware about the protests and was under the impression that the workers, who had been informed about the job rotation, had fully understood the need for the company to take ...
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Greek owner cancels two bulk carriers
The Odense Steel Shipyard in Denmark had their very last container carrier towed out from the shipyard yesterday for sea trial. The construction of this ship and a number of sisters has generated a deficit of DKK 562.3 million in 2008. However, it?s much better than in 2007, when the ...
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TKMS halts construction of four boxships
The consequences of the global financial and economic crises have now reached ThyssenKrupp Marine Systems. The yard has been informed by the client that the banks are not going to finance the construction of six 3,400 TEU class container ships and therefore the vessels will not be accepted as previously ...
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Thai shipyards anticipate high demand for offshore vessels
Italthai Marine, a local shipbuilder and repairer under the Italthai Group in Thailand, is optimistic of achieving 200% revenue growth this year thanks to persistently high demand for offshore supply vessels in the crude-oil production business. Assistant planning and control manager Sanit Jomsangawong said oil firms, particularly those in the ...
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Ice load monitoring makes arctic navigation safer
A three-year research project initiated by DNV has led to the development of an ice load monitoring system that provides bridge personnel with real-time information about the actual ice loads on the ship's hull and shows satellite information about the ice integrated into electronic navigation maps. Shipping activity in ice ...
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Sinotrans to invest in newbuildings
Chinese shipowner Sinotrans Shipping Ltd said it would invest a total of $388 million in new ships over the next three years in anticipation of a better outlook for 2009. "Given the improving market sentiment, the company has no plan to further delay or cancel its orders," Tian Zhongshan, executive ...
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STX begins construction of mega containership
STX Shipbuilding has started construction of a 13,000-TEU containership in its Jinhae shipyard and is for the first time the South Korean shipbuilder has embarked on a large-scale containership construction. This vessel is the lead ship in a nine-ship series of 13,000-TEU containerships ordered by a Greek ship owner in ...
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Karachi Shipyard starts frigate construction
A steel cutting ceremony of the first F22P Frigate being built for the Pakistan Navy was held recently at the Karachi Shipyard and Engineering Works (KSEW). The construction of the first Chinese designed F22P Frigate at KSEW shows that the local shipbuilder can undertake the in-country construction of an extremely ...
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Wärtsilä to power first CWA designed tanker
Wärtsilä has signed a design and propulsion system order with Taiwan's Jong Shyn Shipbuilding for a product chemical tanker. The 6,500 dwt vessel, due for delivery in 2011, is for CPC Corporation (CPC), a Taiwanese state-owned oil company. This is the first order through the Wärtsilä network for a design ...
