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Keppel Corporation announces business updates for 3Q & 9M 2020

The Group returned to profitability in 3Q 2020; makes steady progress on Vision 2030 with a 100-day programme to drive results. Keppel Corporation Limited (Keppel) has today released its first voluntary business update for 3Q & 9M 2020, following the adoption of semi-annual reporting of its results. Many of Keppel’s businesses provide essential services and continued to operate throughout the COVID-19 pandemic. As the COVID-19 situation stabilises in Singapore and other key markets where the Group operates, Keppel’s employees are progressively returning to the workplace, while observing the relevant safe ...

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Japan’s Mitsubishi Heavy asks other companies to take on idle workers: sources

Mitsubishi Heavy Industries 7011.T (MHI) said it has asked several other companies to temporarily employ idle workers from its factories in central Japan in a bid to cut costs and weather a downturn from the COVID-19 pandemic, two sources told Reuters. MHI has approached firms in Aichi Prefecture including Toyota Motor Corp-affiliated parts maker Toyoda Gosei 7282.T, about transferring dozens of workers for up to three years from January, the sources with knowledge of the plan said. They asked not to be identified because they are not authorised to speak ...

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GTT entrusted by Zvezda with the tank design of ten ARC7 ice-breaking LNG Carriers

GTT has received a second order from the Russian shipyard Zvezda Shipbuilding Complex (Zvezda) for the tank design of ten ARC7 ice-breaking LNGCs1 on behalf of a Russian ship-owner. Each vessel will offer a capacity of 172,600 m3. GTT will design the tanks of the vessels, which will be fitted with the Mark III membrane containment system. GTT technologies have been adapted for heavy environmental conditions, allowing LNCGs to operate and navigate safely in ice-covered waters. These ARC7 vessels will contribute to the projects of the Russian LNG producer Novatek. ...

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Ship recycling in focus: key to safeguarding corporate reputation

The present uncertain outlook for shipping, brought about by the ‘new normal’, coupled with the introduction of several maritime regulations – such as the sulphur cap that has driven up fuel costs or alternatively introduced costs for scrubber and other equipment fitment – has caused several ship-owners to consider taking their older (or operationally less economical) ships out of service; or recycling them at a date earlier than the usual ‘end of life’ expectation. In today’s world, however, recycling potentially exposes the ship-owner to certain risks, should harm come to ...

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Innovez One signs agreement with HHH Marine in Singapore

Innovez One, one of the world’s leading providers of port management information software for the world’s busiest ports and towage operators, has signed a multi-year contract with HHH Marine, one of Singapore’s leading launch and supply boat operators to digitise its fleet operations. Innovez One will enable HHH Marine to streamline its entire ordering, vessel and job planning, update, and billing operations with real-time execution underpinned by Innovez One marineM’s AI engine, built specifically for the maritime sector. marineM will provide unprecedented mobility, enabling HHH Marine to dispatch logistics jobs ...

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Cochin Shipyard signs MoU with Fincantieri

Cochin Shipyard and Fincantieri, one of the world’s largest shipbuilding groups, signed a Memorandum of Understanding for co-operation in the areas of Design, Ship Building, Ship Repair, Marine Equipment Manufacturing, besides Training & Skill Development. This Agreement sets the ground for a strategic partnership aimed at business development for mutual benefit as well as potential indigenization in the identified areas of cooperation in line with the ‘Atmanirbhar Bharat’ and ‘Make in India’ vision of GoI. From an innovation standpoint, this agreement will kick-start the development of cutting-edge solutions in strategic ...

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Hyundai Heavy Industries wins orders to build three ships

Hyundai Heavy Industries (HHI) Group has signed a 240 billion won contract for three ships, breaking sales drought that has continued since the beginning of the year. Korea Shipbuilding & Offshore Engineering (KSOE), the shipbuilding holding company of HHI Group, announced on Monday that it has clinched orders to build three ships for shipping companies in African and Europe. HHI, Hyundai Mipo Dockyard, and Hyundai Samho are three shipbuilding companies under HHI Group. Under the 240 billion won deal, the South Korean shipbuilder will build two 300,000-ton very large crude ...

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Samsung Shipyard Embarks On Designing Technology For Floating Offshore Wind Turbine Floater

Samsung Heavy Industries, a major shipbuilder in South Korea, will develop technology for designing a key component for floating offshore wind turbines, citing its accumulated experience in building offshore plants, as part of an industry-wide campaign to localize related technologies. Samsung Heavy Industries (SHI) said that it has partnered with DNV GL, an international accredited registrar and classification society headquartered in Norway, for the joint development of element technologies for designing flowing wind turbine floaters and “digital twin” remote maintenance technologies. The floater is a large structure supporting wind power ...

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India: Tweaking Cargo Support Rules May Not Fetch Order Inflows For Local Yards In The Near Term

The Shipping Ministry’s plan to drive demand for ships built in India by linking a government-mandated cargo support policy for domestic fleet owners to India-built vessels, may yet not work out. Indian-built, Indian-flagged and Indian-owned ships will get top priority when state-owned firms and government departments float tenders to hire ships for hauling cargo or for dredging and offshore oil exploration support services, according to the new rules on the so-called right of first refusal (RoFR) announced on Thursday. Foreign-built, Indian-flagged and Indian-owned ships will get second preference while Indian-built, ...

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Shipbuilders turn to design to increase efficiency

The IMO 2020 regulations, along with the promise of further mandates down the line, are pushing ship designs forward. With the IMO 2020 regulations now in place and future regulations in the pipeline, shipbuilders and ship purchasers alike are planning ahead for a future in which greater emphasis is placed on efficiency. Reducing the environmental impact of shipping is urgent: according to the Clean Shipping Coalition, a global environmental coalition exclusively dedicated to shipping, it is imperative that ship owners in particular take meaningful action to reduce their contribution to ...

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Singapore’s First Floating Energy Storage System

The Energy Market Authority (EMA) and Keppel Offshore & Marine (Keppel O&M) have jointly awarded a research grant to pilot Singapore’s first floating Energy Storage System (ESS). This project was awarded to a consortium led by Envision Digital International Pte Ltd (Envision Digital). This is part of the $10 million partnership between EMA and Keppel O&M to develop innovative energy solutions in the marine sector announced earlier in April this year. Keppel O&M will be working with the consortium to deploy a 7.5 MW/7.5MWh lithium-ion battery ESS on Keppel O&M’s ...

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Damen completes ‘OceanXplorer’ rebuild

Damen Shipyards Group has recently completed the extensive rebuild of cutting-edge research vessel OceanXplorer at Damen Shiprepair Rotterdam. The vessel will contribute significantly to OceanX’s mission – to explore the ocean and bring it back to the world. In this way, the initiative aims at the building of a global community engaged with understanding, enjoying and protecting our oceans. Upon completion of the project, OceanXplorer has become the most advanced exploration, research and media vessel in the world. As OceanX’s new flagship, she builds on the legacy of the organisation’s ...

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India: New cargo support policy for Indian ship-owners may not fetch order in-flows for local yards

The Shipping Ministry’s plan to drive demand for ships built in India by linking a government-mandated cargo support policy for domestic fleet owners to Indian built vessels may not work out yet. Indian built, Indian flagged and Indian owned ships will get top priority when State-owned firms and government departments float tenders to hire ships for hauling cargo or for dredging and offshore oil exploration support services, according to the new rules on so-called right of first refusal (RoFR) announced. Foreign built, Indian flagged and Indian owned ships will get ...

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DSME eyes bumper Q4, likely to meet annual order target for this year

South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) is expected to meet its annual order target thanks to a winning streak in the second half. DSME reportedly is near signing a contract with Japanese shipping firm Iino Lines to build one 91,000-cubic-meter Very Large Gas Carrier (VLGC) plus an option to build another VLGC vessel, according to multiple foreign media outlets on Thursday. A VLCC of the same class costs around $80 million. The Japanese client reportedly is placing the shipbuilding order to carry liquefied petroleum gas for Austrian chemical ...

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DSME Receives ABS AiP for Floating Storage Power Plant Design

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 ...

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