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Hanwha’s purchase of DSME may hit snag on contingent liabilities

Concerns are growing that Hanwha Group’s deal to buy Daewoo Shipbuilding & Marine Engineering Co. (DSME) may be delayed or canceled after the buyer has found the shipbuilder’s $209.6 million worth contingent liabilities in the last stages of due diligence to buy the world’s fourth-largest shipbuilder. Claims for damages, or contingent liabilities, related to shipbuilding contracts reached $209.6 million at the end of the third quarter. This is an increase of about $200 million from end of June. DSME saw a loss of about $200 million from selling a drillship ...

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China’s shipbuilding becomes more competitive

As of the end of October, orders for ships have reached 104.44 million deadweight tons in China since the beginning of this year, up 6.5 percent from a year earlier, according to the China Association of the National Shipbuilding Industry, Economic Daily reported on Thursday. Zheng Yiming who is in charge of the statistics and information department of the CANS, said that from January to October, China’s shipbuilding output, newly received orders and orders on hand accounted for 45.8 percent, 54.3 percent and 48.7 percent of the global total in ...

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Hyundai Heavy Industries Group Wins Nine CES 2023 Innovation Awards with Its Next Generation Technology in Green Energy and Mobility

Hyundai Heavy Industries (HHI) Group announced that it has won nine awards at CES 2023 Innovation Awards for its next generation technologies. This achievement recognizes HHI Group’s continued dedication to bringing world-class innovation. CES Innovation Awards is an annual competition held by the Consumer Technology Association (CTA), which honors products with outstanding technologies and innovation ahead of CES, the world’s largest IT and consumer electronics trade show held January in Las Vegas, USA. We have won nine meaningful innovation awards at a gathering of the world’s most innovative technologies,” said ...

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Strategic Marine blazes the trail for sustainability with OSVs for the future

In line with its own sustainability efforts, Strategic Marine revealed its offshore support vessels of the future at Offshore Southeast Asia (OSEA) 2022 in Marina Bay Sands. Chan Eng Yew, Chief Executive Officer, Strategic Marine, presented the company’s latest launches over the last 12 months. Among them are the Generation 4 Fast Crew Boat (FCB), which is being constructed at the group’s Singapore yard, the StratCat 27, a crew transfer vessel (CTV) designed specifically for offshore windfarms and renewable energy markets, and a fast crew transfer vessel (FCTV) designed to ...

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Polluting shipbreaking practices threaten Ghanian shores

In light of the recent infrastructure developments taking place at its main ports of Tema and Takoradi, Ghana is aiming to become the main integrated maritime hub of the west African subregion. Yet, certain unregulated practices, such as the demolition of end-of -life vessels, still represent a threat for the ecosystem and the health of the quarter of the country’s population that lives along the coast. Due to the weak enforcement of environmental legislation, low labour costs and occupational safety standards, and the absence of a legal framework covering the ...

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GTT receives an order from Hudong-Zhonghua Shipbuilding for the tank design of eight new LNG Carriers

GTT announces that it has received an order from its partner the Chinese shipyard Hudong-Zhonghua Shipbuilding (Group) Co. Ltd. for the tank design of eight new Liquefied Natural Gas Carriers (LNGC), on behalf of several Asian ship owners. GTT will design the tanks of these eight vessels, which will each offer a capacity of 174,000 m3. The tanks will be fitted with the NO96 membrane containment system developed by GTT. The delivery of the vessels is scheduled between the third quarter of 2025 and the fourth quarter of 2027. GTT ...

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Brodosplit built an innovative data buoy

In the port of the Brodosplit shipyard, the launching of OCG-Data, an innovative buoy for the collection of offshore metocean and bio-diversity data, which was built for Ocergie, the French subsidiary of US company Ocergy, was successfully carried out. The innovative data collection buoy will gather information that will be used to better understand everything from wind turbulence to aerial and marine life at a project site. The pilot unit, part of Ocergy’s ‘Blue Oracle’ (Buoy with Lidar and Underwater Equipment for Ocean Resource Assessment and Characterization of Life in ...

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Yangzijiang Shipbuilding new order wins more than doubled 2022 target

SGX-listed Yangzijiang Shipbuilding revealed that its new order wins were higher than its expected target in 2022. In its third quarter 2022 company update, the total YTD new order wins it secured was at $5.7b (US$4.19b). Under its diversified fleet portfolio, the shipbuilding and repairing firm had 29 fleets and 7.93 average age years for the fleets. It also divulged in its order book that it has a total of 143 vessels expected for delivery from 2022 to 2026. Of which, 98 are containerships, 38 are bulk carriers, and seven ...

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Strategic Marine signs 3-vessel order with Chartwell Marine

Strategic Marine has signed an order to build three ‘Brevity’-class crew transfer vessels (CTVs) from Chartwell Marine. The Brevity-class 27-metre catamaran design forms part of Chartwell’s new offshore wind support vessel range, which has seen multiple orders in the UK and USA since its launch in June 2022. The Brevity responds to the need in the offshore wind support market for a high-powered CTV capable of cost-effective and low-emissions operation. It boasts enhanced manoeuvrability and stability due to its signature hull form optimisation and has a capacity of 32 personnel. ...

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HD Hyundai CEO meets with Saudi investment minister

Chung Ki-sun, CEO of HD Hyundai, the holding company of Hyundai Heavy Industries Group, met with Minister of Investment of Saudi Arabia Khalid A. Al-Falih in Seoul last Friday to discuss business cooperation opportunities in the shipbuilding and related sectors. The Korean shipbuilding giant set up a shipbuilding joint venture with Saudi Arabian entities in 2017 and another JV for producing ship engines in 2020. It is uncertain whether Chung will meet with Saudi Crown Prince Mohammed bin Salman Al Saud, Saudi Arabia’s de facto ruler, when he visits Korea ...

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Korea’s Daewoo Shipbuilding earns $10 billion in orders this year

Daewoo Shipbuilding and Marine Engineering (DSME) has earned $10 billion in orders for the second straight year. The company on Tuesday said Maran Gas Maritime, an affiliate of Greece’s top shipping company Angelicoussis Group, ordered a liquefied natural gas (LNG) carrier for 350.9 billion won ($256 million). Okpo Shipyard on Geoje Island, South Gyeongsang Province, is where construction of the vessel will be done, and delivery is slated for the second half of 2026. The ordered carrier is a large type of the 174,000 cubic-meter class featuring the pride of ...

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China Wins More Shipbuilding Orders than Korea in October

Korean shipbuilders fell behind their Chinese rivals in order intake in October. Global ship orders in October amounted to 3.41 million CGT, up 19 percent from the same period of 2021, according to Clarkson Research, a British shipbuilding and shipping market analysis agency. Korea’s order intake totaled 1.43 million CGT (22 ships), ranking second with a market share of 42 percent. China took first place with 1.8 million CGT (32 ships, a 53 percent share). Total global orders from January to October in 2022 reached 34.75 million CGT. Korea accounted ...

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Damen plans major enlargement for Gorinchem shipyard

Damen Shipyards Group is to enlarge its yard in Gorinchem (NL) further. Given the need to strengthen the national maritime manufacturing industry, the company is investing in additional repair facilities and a ship lift. Preparations will begin towards the end of this year. “We are seeing how, in the future, more work will be done for Dutch customers in the Netherlands,” explains Jos van Woerkum, managing director of Damen Shipyards Hardinxveld. “There is no room for further growth at our yard in Hardinxveld-Giessendam and so we are turning to Gorinchem.” ...

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Damen delivers full dredge package for Spanish split hopper

Damen Dredging Equipment has delivered a full dredge package for the brand-new split hull Trailing Suction Hopper Dredger (TSHD) Omvac Catorce owned by the Spanish dredging contractor CANLEMAR, S.L. Omvac Catorce has already entered service and started working on its first dredge project at the Port of Huelva. Damen worked closely together with both CANLEMAR and NODOSA Shipyards to ensure a successful build and a versatile, future-proof vessel. The hopper dredger is a sister vessel of Omvac Diez, which was built a decade ago by the same team. The split ...

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Korean shipyards winners in 2022 order book, exceeding their capacity

South Korean shipwrights may not top 2022 order book but they are dubbed as true winners as they have taken home most of the pricy orders on LNG tankers. According to British shipbuilding and marine industry tracker Clarkson Research on Thursday, Korean shipbuilders bagged a combined 14.65 million CGT in new orders from January to October this year, smaller than China with 15.81 million CGT orders. The yearbook is likely close as Korean dockyards are fully booked for work till the end of 2026. Currently, Korea Shipbuilding & Offshore Engineering ...

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