ABS has granted Approval in Principle (AiP) to Daewoo Shipbuilding & Marine Engineering (DSME) for an innovative floating storage power plant LNG cargo handling system. The system is designed as an all-in-one energy supply facility that can receive, store and regasify LNG, then generate and supply electricity and natural gas at the same time. A new concept, DSME’s 200MW design has capacity to produce and supply electricity from floating structures with a length of 161m, width of 60m and height of 33m, and directly supply natural gas of about 200 ...

The government plans to use a mix of duty restrictions on small vessel imports and the prevailing cargo support policy in a multi-pronged strategy to grow the local shipping, ship building and repairs industry. The Customs duty paid on the import of vessels will be fully refunded if the vessel is replaced by a new ‘Made in India’ vessel in four years, according to the Maritime India Vision 2030 document prepared by the Shipping Ministry. State-owned firms will provide long-term charters of over seven years for vessels made in India ...

As part of the investigation concerning GTT’s commercial practices with the Korean shipyards, the Korea Fair Trade Commission announced on Saturday that a hearing of the case is scheduled on October 21st 2020. This follows the issuance from the Korea Fair Trade Commission of a confidential Examiner Report. The Examiner Report sets out the preliminary conclusions of the Korea Fair Trade Commission’s case team, following its investigation. The Examiner Report does not prejudge the outcome of the procedure. It opened a new phase, during which GTT and its counsels have ...

Daewoo Shipbuilding & Marine Engineering (DSME) has recently won a two-trillion-won order for six LNG carriers. The latest order, which is valued at 2.03 trillion won, was placed by a European client. It is the largest single order for the Korean shipbuilding industry in 2020. The order elevated DSME’s cumulative order achievement rate from 21 percent (US$1.5 billion) to 46 percent (US$3.3 billion). The order also allowed DSME to rank first among major Korean shipbuilders in terms of order target achievement ratio, ahead of Hyundai Heavy Industries Group (Hyundai Heavy ...

Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has been granted a new approval in principle (AIP) *1 by Bureau Veritas (BV), a world leader in testing, inspection, and certification. The approval is for a liquefied natural gas (LNG) fuel gas supply system (FGSS) for marine four-stroke dual fuel engines*2. The approval was confirmed in a presentation ceremony at Mitsubishi Shipbuilding’s Headquarters in Yokohama today. The FGSS comprises an LNG fuel tank, gas supply unit, control systems, and other relevant equipment. The system was developed mainly ...

Damen Shipyards Group has recently signed a contract with Corps van Vletterlieden for a Stan Tug 1004. The company will use the Stan Tug for a wide range of tasks, including mooring, supply, crew transfer and diving support, in the Port of IJmuiden in the north of the Netherlands. Having signed the contract on October 2nd, Damen expects to deliver the vessel in January next year. The speed of the delivery is facilitated by Damen’s practice of building standard vessels in series. As well as ensuring fast delivery, this also ...

The Central government has notified the Director General of Shipping as the national authority for recycling of ships under the Recycling of Ships Act, 2019. The national authority of ship recycling will be set up in Gandhinagar, Gujarat. The location of the office will benefit the ship recycling yard owners situated in Alang, Gujarat which is home to the largest ship recycling industry in the world. DG Shipping is authorized to administer, supervise and monitor all activities relating to ship recycling in the country, a government statement said. DG Shipping ...

SHI’s sluggish order performance continued in 3Q20. While losses are believed to have narrowed in 3Q20, it is yet too early to confirm overall business environment improvement. Investor patience is required until 2Q21, when Qatar LNG-related orders are anticipated. Maintain Hold: Order performance still weak SHI’s 2020 YTD orders total only US$1bn (-76% y-y). Of note, six Artic LNG orders, which were expected in 3Q20, also escaped capture. The pace of SHI’s earnings growth is expected to slow sharply from 2H21, as losses likely continue and order backlog expansion remains ...

Korea Shipbuilding & Offshore Engineering, the shipbuilding holding company of Hyundai Heavy Industries Group, announced Friday that the company has secured 140 billion won of new deals from overseas companies. The Korean shipbuilder plans to deliver a 40,000 cubic-meter liquid petroleum gas carrier to a Singaporean firm and two product carriers to its Liberian contractor, starting in March, 2022. The new ships by Korea Shipbuilding & Offshore Engineering are able to control emission to comply with The International Maritime Organization’s regulations to reduce sulphur oxides, according to the shipbuilding firm. ...

The government has notified Director General of Shipping as National Authority for Recycling of Ships, an official statement said on Thursday. DG Shipping is designated as apex authority under the Recycling of Ships Act, 2019 for the ship recycling industry of India and the office of the national authority will be set up in Gandhinagar, Gujarat. “Central Government notified the Director General of Shipping as National Authority for Recycling of Ships under section 3 of the Recycling of Ships Act, 2019,” the Ministry of Shipping said in a statement. As ...

Offshore investments are expected to rebound from 2021 and oil and gas operators will be looking for yards to build new facilities, with 40% of these contracts expected to be floating production storage and offloading (FPSO) units in the next five years. While higher, budgets will be quite cost-wary and among Asian rivals, Chinese yards stand better-placed to attract them, a Rystad Energy analysis shows. Asia is the undisputed market leader for construction and conversion of FPSO vessels, with leading fabrication yards for hull construction mainly located in China, Singapore, ...

Ship repair activity at Gibdock has continued to be rock solid, despite uncertainties through the first three quarters of 2020 relating to Covid-19 and Brexit. Occupancy levels remain high, contracts continue to be agreed and scheduled dry dockings are already booked into 2021, the Gibraltar-based yard reports. “The outlook is set fair,” says Richard Beards, Gibdock’s Managing Director, as he identifies potentially greater revenue streams in LNG-related projects and renewables business for the months ahead. Beards says that Gibdock’s location at the gateway to the Mediterranean remains a key advantage ...

South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) is expected to sign on a contract worth up to $1 billion with Monaco’s Scorpio Bulkers Inc. to build offshore wind farm vessels within this year. After DSME and Scorpio Bulkers in July signed a letter of intent for a wind turbine installation vessel construction contract, sources in the industry now suspect that they would finally ink the contract to build one wind turbine installation vessel for delivery in 2023, with options to construct up to an additional three units, in the ...

Keppel Offshore & Marine (Keppel O&M) has successfully delivered its first newbuild Liquefied Natural Gas (LNG) carrier, Avenir Advantage to Avenir LNG Limited (Avenir LNG). The LNG carrier also functions as an LNG bunkering vessel (LBV), making it the first in South East Asia to do so. It is the first of two such vessels that Keppel O&M is building for Avenir LNG, expanding its suite of solutions across the gas value chain. This reinforces Keppel’s Vision 2030, which includes seizing opportunities in LNG solutions and renewables. The 7,500m3 LBV ...

Seven people linked to Singapore shipbuilding firm Keppel Fels were charged with multiple corruption-related offences on Wednesday (Oct 14) morning. Alvin Lim Wee Lun,40, who was working as a yard manager at Keppel Fels, was charged with 46 counts of conspiring with two other individuals to obtain bribes to advance the business interests of multiple sub-contractors. Lim’s co-conspirators allegedly included Rajavikraman Jayapandian, 45, a project director at industrial manufacturing firm Rotary Offshore Solutions Pte Ltd, and Goh Ngak Eng, 54, a director at Megamarine Services Pte Ltd, which deals in ...