China COSCO receives $644m subsidy （2015-07-06）
China COSCO Holdings received CNY4 billion (USD644 million) from the government to scrap old tonnage and fleet renewal on 30 June, a stock filing of the company said. The subsidies will have a certain degree of positive impact on the company’s financial result for 2015, the company said. In April, C... |
Hyundai yards, DSME to gain from cheaper oil （2015-07-06）
The collapse in oil prices and the subsequent growth in oil consumption would benefit Hyundai's shipbuilders and Daewoo Shipbuilding & Marine Engineering (DSME) as they construct oil and product tankers, a sector analyst has opined. JP Morgan analyst Lee Sok-je noted that the crude tanker market ral... |
HHI orderbook gets VLCC boost （2015-07-03）
South Korean shipbuilder Hyundai HI (HHI) has won a new order for two VLCCs from Piraeus-based Thenamaris, which will increase its VLCC fleet to five vessels once in service. Both units are scheduled to be delivered in 2017 The Thenamaris newbuilding orderbook has a total capacity of over one millio... |
Yangzijiang Shipbuilding appoints new vice-general （2015-07-03）
Singapore-listed Yangzijiang Shipbuilding has appointed Zhang Tao as the company’s vice-general manager in charge of operations. Zhang was the administrative deputy general manager of China Shipbuilding Industry Corporation (CSIC) from March 2011, and is the youngest executive from a state-owned shi... |
Negotiation over sale of Jiangsu Rongsheng continu （2015-07-03）
Negotiations over the purchase of Jiangsu Rongsheng Heavy Industries have yet to conclude between a Chinese-listed company and China Huarong Energy, which was formerly known as China Rongsheng Heavy Industries Group Holdings (RSHI). RSHI is further negotiating with the potential purchaser regarding ... |
Negotiation over sale of Jiangsu Rongsheng continu （2015-07-03）
Negotiations over the purchase of Jiangsu Rongsheng Heavy Industries have yet to conclude between a Chinese-listed company and China Huarong Energy, which was formerly known as China Rongsheng Heavy Industries Group Holdings (RSHI). RSHI is further negotiating with the potential purchaser regarding ... |
Sembcorp Marine chooses Technip for topside EPC （2015-07-03）
Singapore shipbuilder Sembcorp Marine has appointed French engineering firm Technip to handle engineering, procurement, and construction (EPC) for the topsides of a floating production, storage, and offloading (FPSO) vessel it is working on. Sembmarine’s Jurong shipyard is currently working on conve... |
Bahri exercises option for five VLCCs at Hyundai （2015-07-03）
The National Shipping Company of Saudi Arabia (Bahri) has exercised options for five more very large crude carriers (VLCCs) from Hyundai Samho Heavy Industries (Hyundai Samho HI), more than a month after ordering five similar tankers from the same yard. This means Bahri will now have 10 300,000 dwt ... |
Shell FLNGs ease concerns over offshore vessel ord （2015-07-03）
Clinching three more orders for floating LNG (FLNG) vessels from Royal Dutch Shell has alleviated concerns that Samsung Heavy Industries (SHI) would be the worst hit among South Korea’s big three shipbuilders, a sector analyst has opined. Hyundai Heavy Industries, SHI, and Daewoo Shipbuilding & Mari... |
Two more rigs booked at Huangpu Wenchong （2015-07-01）
China’s Huangpu Wenchong shipbuilding yard has been contracted to build a further pair of jack-up rigs from a returning customer. Hong Kong-listed TSC Group has ordered, through it daughter company Alliance Offshore Drilling (AOD), two Zentech-designed R-550D jack-up drilling rigs with deliveries sc... |
Samsung HI clinches Statoil platform orders （2015-07-01）
Samsung Heavy Industries (SHI) has clinched orders for Statoil’s Sverdrup Topside project, as analysts predicted. South Korea’s second biggest shipbuilder said in a Korea Exchange filing on 30 June that it has clinched two platforms related to the project. The contract is worth about USD1.05 billion... |
Wärtsilä tunnel thruster approval （2015-07-01）
Wärtsilä has successfully obtained a Lloyd’s Register (LR) ‘Type Approval’ Certificate for the Wärtsilä WTT11 tunnel thruster, which means the unit will not have to undergo a design review for each individual vessel or hull number. Wärtsilä says approval certification will also mean cost savings, as... |
UOB Kay Hian: Offshore, marine industry yet to bot （2015-07-01）
Singapore-based brokerage house UOB Kay Hian has suggested that the offshore and marine industry downturn has not bottomed yet. Analysts from UOB Kay Hian highlighted that the offshore support vessel (OSV) tender activities are recovering gradually despite oil companies asking for a 30% cut in day r... |
Bank of Jiangsu files second lawsuit against Saint （2015-07-01）
Shenzhen-listed Sainty Marine has been sued by the Bank of Jiangsu in a second dispute, this time over CNY112 million (USD18 million) of loans and refund guarantees. On 21 May, the bank filed the lawsuit against Sainty Marine at the Wuhan Maritime Court and demanded the repayment of CNY60 million in... |
Tsuneishi win Kamsarmax trio （2015-06-26）
Japan’s Tsuneishi Group has been contracted to build three Kamsarmax Bulkers from a returning customer. Taiwanese shipowner Wisdom Marine placed the order for the 81,600 dwt bulkers with deliveries expected in December 2017, March 2018 and June 2018. The three units will be constructed and delivered... |
CSBC to receive orders worth $485m from TS Lines, （2015-06-26）
China Shipbuilding Corporation (CSBC), the only listed shipbuilder in Taiwan, expects to receive orders for 10 3,000 teu container ships and four 1,800 teu container ships from TS Lines and Evergreen, respectively, in July. The orders value a total of TWD15 billion (USD485 million), said CSBC genera... |
Veder to order ice class LNG carrier for Gasum con （2015-06-26）
Gasum, the Finnish energy group and Anthony Veder, the Dutch shipping company, have signed an agreement for a long-term time charter of an ice Class 1A Super LNG carrier newbuilding. "The 18,000 cbm vessel will be built at German shipyard Neptun Werft and delivered in the last quarter of 2017," Gasu... |
Small, mid-sized bulkers could get longer-term sup （2015-06-26）
Bulkers in the range of 20,000–64,999 dwt may have a tough time this year due to a global drop in commodities demand and over-tonnage, but growing shipments of steel products and agribulk cargoes could provide longer-term support, said Banchero Costa. The Baltic Supramax and Handysize timecharter in... |
Jinhai Heavy Industry to deliver 8,800 teu （2015-06-26）
Jinhai Heavy Industry (JHI), a shipyard affiliated with China’s HNA Group, expects to deliver its first 8,800 teu container ship newbuilds and a jackup offshore construction vessel within 2015, a statement of the yard said on 25 June. The box ships’ owner is SinOceanic Shipping, according to IHS Mar... |
HHI wins CMA CGM ULCS order （2015-06-09）
South Korea’s Hyundai Heavy Industries (HHI) has won a new order for a series of ultra large container ships from French operator CMA CGM. The six 14,000 teu vessels are to be built at Hyundai’s Ulsan facility with deliveries pencilled in from early 2017. The boxships’ main particulars are overall l... |