Home / Shipping News / Shipbuilding News (page 3)

Shipbuilding News

Damen Shipyards wins tender to supply high performance support vessel for Royal Navy’s NavyX innovation team

In a ceremony held at Her Majesty’s Naval Base (HMNB) Portsmouth on 29th July, the UK’s Royal Navy ‘NavyX’ innovation team took delivery of a modified Damen Fast Crew Supplier (FCS) 4008. Named XV Patrick Blackett after a distinguished naval officer and scientist, the 42-metre, high-speed vessel will have a crew of five and will be used as a trials ship, supporting innovation and experimentation with novel technologies. NavyX, the Royal Navy’s innovation, autonomy and lethality accelerator which has been established to rapidly develop, test and trial cutting-edge equipment, ran ...

Read More »

GTT reaches an important milestone in the field of liquid hydrogen transport with two approvals in principle from the classification society DNV

GTT has been granted two Approvals in Principle (AIP[1]) from the leading classification society DNV for the design of a membrane type containment system for liquefied hydrogen (LH2) and for the preliminary concept design of a LH2 carrier. These approvals are part of the agreement with Shell, announced in February 2022, and pave the way for the next stages of the project. As part of the energy transition to a carbon-free future, the ability to transport very large volumes of hydrogen in liquefied form at -253°C is one of the ...

Read More »

International Maritime Industries and Hyundai Heavy Industries expand shipbuilding partnership

International Maritime Industries (IMI), the largest shipyard in the MENA region, has expanded its partnership with Hyundai Heavy Industries (HHI) through a technical service agreement to further enhance its shipbuilding capabilities. Under the agreement, HHI will provide technical assistance and consulting services in Very Large Crude Oil Carrier (VLCC) engineering to IMI, reflecting its commitment to supporting the development of IMI’s shipbuilding capabilities and engineering services since its launch in 2017. The agreement is a touchstone for the implementation of practical technical collaboration between both companies. The agreement was signed ...

Read More »

Master Boat Builders to Construct New Tugboat for Suderman & Young Towing Company

Master Boat Builders, Inc. today announced that it has executed a contract to build a new tugboat in its Coden, Ala., yard for Suderman & Young Towing Company of Houston, Texas. Master Boat Builders currently has three tugs under construction of a different design for Suderman & Young. “We at Master Boat Builders take pride in our work and are heartened by this vote of confidence from the team at Suderman & Young,” said Garrett Rice, president of Master Boat Builders. “Suderman & Young is one of the premiere tugboat ...

Read More »

Daewoo Shipbuilding & Marine Engineering management offers public apology for recent strike

The management of Daewoo Shipbuilding & Marine Engineering (DSME) on Tuesday apologized to the public for the recent strike by its subcontractors and said that it will take the lead in creating fundamental improvements and a new cooperation model. DSME’s CEO Park Doo-sun and other executives issued a joint apology to the public Tuesday. “As the management, we feel deeply responsible for the situation surrounding the strike at this time and bow our head in apology,” read the apology. “Due to the strike by DSME’s subcontractors that lasted for 51 ...

Read More »

South Korean Shipbuilders Exposed to Russia-related Risks

South Korean shipbuilders’ contracts with Russia are being mentioned as a factor that may hinder their profitability improvement. They are aiming to turn a profit next year, but any payment failure on the part of Russian shipowners may delay the schedule. At present, contracts with Russia total US$5 billion in Samsung Heavy Industries, US$2.5 billion in Daewoo Shipbuilding & Marine Engineering, and US$550 million in Hyundai Samho Heavy Industries. The shipbuilders already met more than 70 percent of their goal for this year, but they are likely to remain in ...

Read More »

DSME back to work to meet ship delivery after 51-day strike ends

South Korea’s debt-ridden Daewoo Shipbuilding & Marine Engineering Co. (DSME) is skipping the regular summer break to keep up with the delivery schedule after a 51-day strike that destabilized the main dockyard ended through settlement last Friday. DSME’s subcontract workers who staged a sit-down strike at No. 1 dock in Okpo, Geoje in South Gyeongsang Province for five weeks ended the strike after reaching an agreement on the wage issue on July 22. With the agreement, DSME immediately resumed shipbuilding operation at its largest dock to meet ship delivery schedule. ...

Read More »

Civil damage, criminal charge issues linger after DSME strike

Civil damage claims of up to 800 billion won ($610 million) will continue to haunt the unionized subcontractors of Daewoo Shipbuilding & Marine Engineering (DSME), despite the last-minute breakthrough in management-labor talk that ended their 51-day strike, according to market watchers, Sunday. The weeks-long impasse was broken July 22, largely because the subcontractors agreed to a lower-than-demanded wage increase and guarantees of job security in the event their employers ― partner firms of the shipbuilder ― dismiss them. However, lacking in the much-rushed agreement was whether the shipbuilder would file ...

Read More »

GTT receives an order from Samsung Heavy Industries for the tank design of fourteen new LNG carriers

GTT announces that it has received, at the end of June, an order from its partner the Korean shipyard Samsung Heavy Industries for the tank design of fourteen new LNGCs[1], including twelve vessels on behalf of an American ship-owner, and two on behalf of an Asian ship-owner. As part of this order, GTT will design the tanks of these fourteen vessels, which will offer a cargo capacity of 174,000 m3 each and will be fitted with the Mark III Flex membrane containment system, a technology developed by GTT. Deliveries of ...

Read More »

GTT entrusted by Hyundai Samho Heavy Industries to design the fuel tanks for six new LNG-fuelled container vessels

GTT announces that it has received, in the second quarter of 2022, an order from its partner the Korean shipyard Hyundai Samho Heavy Industries (HSHI) to design the cryogenic fuel tanks of six new liquefied natural gas (LNG) fuelled container vessels, on behalf of the CMA CGM Group, a global leader in sea, land, air and logistics solutions. These vessels, each capable of carrying 8,000 containers, will be equipped with an LNG fuel tank with a capacity of 6,000m3. Each LNG fuel tank will be fitted with the Mark III ...

Read More »

DSME May Be Divided into Units to Facilitate Its Sale

Subcontract workers’ strike at Daewoo Shipbuilding & Marine Engineering (DSME) has ended. With huge business losses caused by the strike, how to bring the company back to normal is being discussed again. According to many experts, to sell it as a whole is the best option for blocking further losses at the company that has been ownerless for 22 years and consumed taxpayers’ money amounting to 12 trillion won. But if this option proves infeasible, they say the shipbuilder’s units need to be separated to facilitate its disposal. The state-run ...

Read More »

DSME wins a 649.5-billion-won order for two LNG carriers

Daewoo Shipbuilding & Marine Engineering (DSME) announced Monday that it received a 649.5-billion-won ($494.8-million) order from a European shipping company for two large liquefied natural gas (LNG) carriers. The two LNG carriers ordered Monday are in the 174,000-meter-square class, and will be equipped with a low-pressure dual fuel propulsion engine. The carriers will be made in DSME’s shipyard in Okpo, South Gyeongsang, and be delivered to the buyers by the second half of 2026. With this new order, DSME has so far achieved 72.2 percent of its order target for ...

Read More »

DSME creditor warns of bankruptcy over shipyard strike

Daewoo Shipbuilding & Marine Engineering may face a court-ordered rehabilitation process unless action is taken on a monthlong strike there, the company’s main creditor Korea Development Bank said. “It would be more difficult for DSME to repay its debts as the strike drags on … we’re not going to help the builder unless it gets back to work,” an executive at the state-run bank said, suggesting that the country’s third-largest shipbuilder would have no choice but to ask the court for help if the strike results in a poorer liquidity. ...

Read More »

Daewoo Shipyard Workers Reach Deal To End Strike

South Korean contract workers at the country’s number 3 shipbuilder agreed on Friday to end their strike after accepting a much smaller wage hike than demanded as well as job guarantees, union officials and subcontractors said. Since late last month, about 100 sub-contractors pressing for an increase of 30% have occupied the main dock at the shipyard run by Daewoo Shipbuilding & Marine Engineering (DSME) in the southern city of Geoje. Read full story The shipyard is one of the world’s biggest and the strike has led to delivery delays ...

Read More »

S.Korean shipyard workers reach tentative deal to end strike

“Both sides have reached an agreement and are drafting a written document to sign,” said Jang Seok-won, a spokesperson of the Korea Metal Workers’ Union, which represents the strikers. Union officials accepted an offer of a 4.5% wage increase, along with offers of successive employment for workers from some subcontractors that have shut or are about to, another union official told reporters. But there was no agreement yet on whether subcontractors would pursue plans for legal action to seek strike damages, union officials and subcontractor representatives said. Daewoo has previously ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping