Home / Shipping News / Shipbuilding News (page 5)

Shipbuilding News

Successful Turbine Operation – Cryogenic Power Generation System

Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd. (MHIMME) delivered a turbine for demonstration test of cryogenic power generation system for FSRU(*1) named as “Cryo-Powered Regas system” developed by Mitsui O.S.K. Lines, Ltd (“MOL”) and Daewoo Shipbuilding & Marine Engineering Co., Ltd (“DSME”) and confirmed its successful running at DSME’s Okpo shipyard. The role of an FSRU is to regasify -160℃ liquified natural gas (LNG) through heat exchange. In the past, LNG’s cold energy had not been utilized in FSRUs and was released. By installing the “CryoPowered Regas” System, ...

Read More »

KR Group partners with Asyad Drydock to build Oman’s first indigenous marine vessel

The KR Group, through its Marine Solutions business, has partnered with Asyad Drydock to build vessels in the modern shipbuilding and repairs facility in Duqm, Oman. A full-fledged service company specialised in the design and construction of harbour-related infrastructures in addition to ship repair and maintenance, Khimji Ramdas Marine Solutions under the KR infrastructure cluster has grown rapidly since its inception in 2005. Undertaking its maiden project, the team has successfully built a 15m multi-cat vessel “Hulm Al Behar” which has become the first marine vessel to be built in ...

Read More »

HHI to complete payment for Doosan Infracore this week

Hyundai Heavy Industries Group is to complete payment for the acquisition of Doosan Infracore this week, in a deal that would put the ship-focused group atop of the country’s construction equipment industry, according to industry officials Monday. In February, the group’s holdings company formed a consortium with KDB Investment and signed a contract to buy a controlling 34 percent stake in Doosan Infracore, held by Doosan Heavy Industries. It agreed to pay 850 billion won ($730 million). HHI is expected to foot the bill by Thursday, media reports said quoting ...

Read More »

Samsung urged to rebuild shipbuilding business

After being paroled from prison, Samsung leader Lee Jae-yong should be able to move forward on a lot of sizable investment and mergers and acquisitions (M&As), which are seen as “major decisions” requiring Lee’s signoff. The Samsung vice chairman is the group owner. Given Samsung Electronics’ strengths in memory chips, top smartphones, displays and electric vehicle (EV) batteries, investors’ primary focus is on how quickly Lee can resume his management, as well as if the global technology heavyweight will specify its investment targets to stay competitive in these designated four ...

Read More »

South Korean Shipbuilders Faring Very Well

Clarksons Research reported that the global shipbuilding orders added up to 4.01 million CGT last month and 45 percent, 44 percent and 10 percent of the orders went to South Korean, Chinese and Japanese shipbuilders, respectively. For the first seven months of this year, the orders totaled 29.7 million CGT, up 213 percent from a year ago. South Korean and Chinese shipbuilders won 43 percent and 45 percent of the orders, respectively. The contracts signed by the former in that period are the largest since 2008. The gap between the ...

Read More »

Samsung Heavy Industries Being Dragged into Drillship Lawsuit Again

Samsung Heavy Industries is again being dragged into a drillship lawsuit by Brazilian state-owned oil company Petrobras. The company announced in a public disclosure on Aug. 12 that the U.S. Court of Appeal has decided to resume the trial on a dismissed compensation claim filed by Petrobras America, a U.S. subsidiary of Petrobras, on the grounds that there is a procedural flaw in the Texas Federal District Court’s dismissal decision. The Texas Federal District Court dismissed Petrobras America’s lawsuit for damages in June 2020. At the time, the court ruled ...

Read More »

Transporters’ strike holds up operations at Alang ship recycling yard in Gujarat’s Bhavnagar

Activities at the Alang ship recycling yard in Bhavnagar district, Gujarat, have come to halt for more than two weeks, with transporters working with ship breakers going on strike for the past 21 days over loading and transport charges. Stacks of scrap have piled up at the ship-breaking units. Ramesh Mendpara, vice-president of Alang Ship Recycling Association, said, “We have been forced to shut all ship recycling-related activities over the past fortnight due to the transporters’ strike. There are no takers for scrap. Ship recycling units are unable to fulfil ...

Read More »

Domestic talent in shipbuilding is on the decline: report

Domestic talent in the shipbuilding profession is on the decline and the industry could be facing a worker shortage, the Legislative Yuan’s Budget Center said in a report released this week. With the promotion of the Indigenous Shipbuilding Program, the industry’s need for new talent is projected to grow by 3.4 to 3.7 percent, or 1,000 to 1,020 individuals, per year from this year to 2023, the report says. However, 70 percent of shipbuilding companies have stated that they are unable to recruit enough employees to meet demand due to ...

Read More »

HHI officially applies for IPO

Hyundai Heavy Industries applied for an initial public offering (IPO) to raise up to 1.08 trillion won ($934 million). The shipbuilder submitted a securities registration statement to the Financial Services Commission on Tuesday. According to the statement, the company will offer 18 million newly issued shares at a price between 52,000 won and 60,000 won. The company hopes to use the money to develop eco-friendly technologies such as building ships that run on ammonia and hydrogen and developing offshore hydrogen production facilities. It will also invest in developing self-sailing technology ...

Read More »

Bangladesh: Import of scrapped ships surges

Bangladesh imported a total of 156 ships for dismantling during the first half of 2021, which is more than 110 per cent higher than that of the same period last year. As a result, the country regained the top position of importing scrapped vessels, according to a global coalition. During the January-June period of 2020, the country brought only 74 scrapped ships, according to the data released by NGO Ship-breaking Platform (NSP). Bangladesh dismantled 144 ships in 2020 and 236 in 2019. The NSP is a global coalition of organisations ...

Read More »

China accounts for 51% of new global shipbuilding orders in H1

China’s new shipbuilding orders accounted for more than half of the global share in the first half of the year due to growing demand for container ships amid COVID-19, CCTV reported. According to data released by China Association of the National Shipbuilding, China’s completed orders grew by 19 percent year-on-year in the first half, with rise in high-end ship orders. China’s new ship orders accounted for 51 percent of the global share with the average monthly orders reaching 6.37 million dwt, 1.8 times that of shipbuilding completed in the same ...

Read More »

Keppel delivers Russia’s first LNG bunkering vessel

Keppel Offshore & Marine (Keppel O&M) has successfully delivered Russia’s first Liquefied Natural Gas (LNG) bunkering vessel. Designed and built by Keppel O&M, the 5,800m3 ice-class LNG bunkering vessel (LBV) Dmitry Mendeleev was delivered to Shturman Koshelev LLC with a perfect safety record. The LBV is the fourth newbuild LBV by Keppel O&M and was built at its Keppel Nantong Shipyard in China to Keppel’s proprietary MTD 5800V LNG design. This delivery extends Keppel O&M’s track record in solutions for the gas value chain and is in line with Keppel’s ...

Read More »

Damen Signs With Fairplay Towage For Imo Tier Iii Certified Shoalbuster 2711

Damen Shipyards Group has signed a contract with Fairplay Towage Polska for the delivery of a Shoalbuster 2711 ICE. The company will use the versatile vessel to perform diverse operations, including in the offshore wind industry, in the Baltic and North seas. Damen is building the vessel in Poland. The Shoalbuster 2711 is a proven vessel from Damen’s standardised workboat portfolio. Its versatility comes via various features in its design, including its extreme shallow draft capability, large cargo capacity and its 45 tonne bollard pull. Despite the standard nature of ...

Read More »

Korea’s No. 1 shipbuilder HHI eyes IPO of $935 mn, pricing on Sept. 3

Hyundai Heavy Industries Co (HHI), flagship shipbuilder under Korea Shipbuilding & Offshore Engineering (KSOE) on Sept. 3 prices 18 million initial shares at a band of 52,000 won to 60,000 won to raise up to 1.08 trillion won ($935.4 million). All the offerings would be in new issues. According to its IPO prospectus, it hopes to price the shares at between 52,000 won and 60,000 won, which would allow the shipbuilder to raise from 936 billion won to 1.08 trillion won. Price will be announced on Sept. 6 after book-building ...

Read More »

Korean shipyards defend monthly No. 1 in global order book July for third month

South Korean shipbuilders defended No.1 position in the global order book for the third consecutive month in July, pushing their combined orders during seven months to a 13-year high. According to British shipbuilding and marine industry tracker Clarkson Research Services on Wednesday, Korean shipyards brought home 45 percent or 1.81 million compensated gross tonnages (CGT) of the total 4.01 million CGTs in new global shipbuilding orders in July. China was closely behind at 1.77 million CGTs or 44 percent with Japan coming in third with 400,000 CGTs or 10 percent. ...

Read More »

Recent Videos

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