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China may take top spot in global shipbuilding orders

China’s shipyards may capture the top position for new orders worldwide in 2017, outpacing those in South Korea, South Korean newspaper Aju Business Daily reported on Friday, citing marine industry tracker Clarkson Research. This would be the seventh consecutive year that China would be number one in terms of annual cumulative order intakes. Shipbuilders all over the world received 19.51 million CGT (compensated gross tonnage) new ship orders by November this year and China topped the list with 7.13 CGT, followed by South Korea’s 5.74 CGT and Japan’s 1.82 CGT, ...

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Mitsubishi, Kawasaki struggling in shipbuilding biz

Mitsubishi Heavy Industries Ltd. and Kawasaki Heavy Industries Ltd. are struggling to find a way out of the predicament that their shipbuilding operations are in. Mitsubishi Heavy will transfer its shipbuilding operations, the company’s founding business with a history of more than 130 years, to a new subsidiary, Mitsubishi Shipbuilding Co., to be launched on Jan. 1, 2018. Meanwhile, Kawasaki Heavy is moving its shipbuilding operations to joint companies in China. But it is uncertain whether their operations will turn around. An analyst at a think tank says Japanese shipbuilders ...

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Top three shipbuilders expect wretched 2018

While the global shipbuilding industry is showing signs of recovery, Korea’s three big shipbuilders are still in a rut. Next year’s sales will be lower than this year’s. Samsung Heavy Industries announced Wednesday it would increase ITS capital by issuing stock worth 1.5 trillion won ($1.37 billion) by next May, saying it expected operating losses both this year and next. According to the company, it posted 7.9 trillion won in sales this year with an operating loss of 490 billion won. For 2018, the company expects 5.1 trillion won in ...

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VOS Stone naming ceremony

We are delighted to announce that the newest addition to our fleet, VOS Stone, was Christened yesterday, Friday 8 December. In a ceremony conducted in Rotterdam, the vessel was named by Mrs Ingrid van Driel, Vroon Group Controller. VOS Stone is a state-of-the-art subsea-support walk-to-work vessel and sister vessel to VOS Start, currently employed at the Walney Extension Offshore Wind Farm in the Irish Sea. Both vessels have been purpose built to support offshore operations in the Renewable industry and walk-to-work projects in the Oil & Gas industry. VOS Stone ...

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DSME wins court battle against FTC on fines for underpayment: court officials

Daewoo Shipbuilding and Marine Engineering Co. has won a court battle against a corporate watchdog that levied tens of billions of won in fines for underpaying subcontractors, court officials said Monday. The Supreme Court ruled in favor of the DSME on Thursday in the suit filed by the shipbuilder against the Fair Trade Commission in 2013, upholding a ruling by the Seoul Appellate Court which nullified the fine, according to the officials. The FTC fined the shipbuilder 26.7 billion won ($24.4 million), saying 89 subcontractors were not paid 43.6 billion ...

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“SHI Shock’ Makes 4 Trillion Won of Shipbuilding Stock Market Cap Disappear in 3 Days

The “Samsung Heavy Industries shock” made nearly 4 trillion won (US$3.65 billion) of major shipbuilding stock market caps disappear in the last three days. Some express concerns over poor performance while others take precautions against excessive concerns. However, it is not enough to prevent the bargain sale which seems nearly a panic. On December 8, Samsung Heavy Industries and Hyundai Heavy Industries closed at 7,640 won (US$7) and 126,500 won (US$116), respectively, down 11.2 percent and 7.3 percent from the previous day. The drop-off rate of Samsung Heavy Industries reached ...

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S. Korea: Number of workers in shipbuilding industry falls over 23% y/y in Nov.

Korea’s struggling shipbuilding industry continues to shed jobs. The number of workers in the industry fell in November for the 20th straight month. According to data from the labor ministry, 42,100 workers left the industry compared to a year earlier, for a decline of over 23 percent. The industry has seen plunges of more than 20 percent for eight straight months. The losses have been more profound in Ulsan — home to the country’s shipyards, where the decline was over 30 percent during the same period. The shipbuilding sector has ...

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Korea’s shipbuilding orders look to finish at world’s No. 2 this year

Build orders for South Korea’s rebounding shipbuilding industry are likely to reach the second highest in the world this year, following China, according to data by British shipbuilding and marine analysis agency Clarkson Research Services on Friday. The research data shows that China‘s cumulative order volume for the January to November period reached 7.13 million CGT or 324 vessels, followed by Korea with 5.74 million CGT and Japan at 1.82 million CGT. CGT refers to the Compensated Gross Tonnage, which is an indicator of the amount of work that is ...

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Shipbuilders in serious limbo

Samsung Heavy Industries’ recent announcement about its unfavorable 2018 forecast signals that the nation’s shipyards are about to face another daunting year. Ailing shipyards such as Daewoo Shipbuilding & Marine Engineering and Sungdong are also showing signs of crisis that will force them to find new sustainable owners. Otherwise, they will have to go out of business. According to Samsung Heavy last Wednesday, it forecasts an operating loss of 490 billion won ($449 million) for this year and 240 billion won next year amid declining demand for its new vessels ...

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India Takes A Welcome Step To Clean Up The Shipbreaking Industry

India, which along with Bangladesh dismantles most of the world’s discarded ships, has done well to draft a legislation that sets labour safety and environment benchmarks for shipbreaking. The proposed law is aligned with the Hong Kong convention adopted by the International Maritime Organisation in 2009, so far ratified by Norway, Congo, France, Belgium, Panama and Denmark, but not by 15 other countries that make up 40 per cent of the world’s gross merchant shipping capacity. Given the state of affairs at Alang in Bhavnagar district, Gujarat, considered the world’s ...

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Biggest Privately-operated Shipyard Upgraded with MAN Service Network

MAN PrimeServ China signs Service Station Agreement with Zhoushan Xinya Shipyard Co., Ltd (XINYA) during Marintec China. Jeffrey Ang, Vice President, Head of Engine and Marine Systems Asia Pacific – MAN Diesel & Turbo, and Zhou Boting – Vice General Manager – XINYA, signed the agreement on behalf of their respective companies. Having signed the Agreement, XINYA will build a 560-sqm service workshop within its facilities in Zhoushan, expecting to be finished next August. MAN PrimeServ will provide service for diesel engines, propellers and turbochargers in the new service workshop. ...

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Hyundai Heavy wins order to build 2 crude carriers for Hellas-based Kyklades Maritime

Hyundai Heavy Industries Co., a major shipyard in South Korea, said Friday that it has clinched a deal to build two very large crude carriers. Under the deal estimated at US$166 million, Hyundai Heavy Industries is set to hand over the vessels to Sinokor Merchant Marine Co., a South Korean shipping firm, in 2019. Separately, Hyundai Heavy Industries is nearing a deal to build two very large crude carriers for the Greek ship owner Kyklades Maritime Corp. The deal, expected to be signed by the end of this year, is ...

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CCS Signs Framework Agreement with MAN

On December 6 2017, MAN Diesel & Turbo signed a Framework Agreement for Technical Cooperation with the China Classification Society (CCS) during Marintec China 2017. The Agreement provides for the strengthening of the cooperation between the two companies in the fields of ship design, ship-type research & development, ship power, ship automation, environmental protection, intelligent ship and battery solutions. Jeffrey Ang, Vice President, Head of Engine and Marine Systems Asia Pacific – MAN Diesel & Turbo, and Sun Feng – Vice President – CCS, signed the agreement on behalf of ...

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Former chief of Daewoo Shipbuilding gets 6 years in jail for accounting fraud

A Seoul court this week sentenced a former chief of Daewoo Shipbuilding & Marine Engineering Co. to six years in prison for accounting fraud and other charges. The Seoul Central District Court handed down the guilty verdict to Nam Sang-tae, 67, convicting him of accounting fraud, embezzlement, breach of duty and bribery. The court ordered him to forfeit 880 million won ($806,000). Prosecutors have demanded an eight-year prison term. “The defendant neglected his responsibility as the chief of Daewoo Shipbuilding and sought his personal gains using his authority and power,” ...

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C-Job Chooses NAPA to Accelerate Vessel Concept Design with Darwinian Theory and 3D Models

NAPA, a leading global maritime software, services and data analysis provider, and C-Job Naval Architects, the largest independent ship design and engineering company in the Netherlands, today announced a webinar to introduce Accelerated Concept Design – a way to automate and optimise the concept stage of the ship design process using genetic algorithms. In this Darwinian process, successive ‘generations’ of ship designs are automatically created by the algorithm; each generation inheriting the most successful characteristics of its predecessors. This removes uncertainty within the whole ship design process – speeding up ...

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