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 ...

Traumatic deaths and injuries have become part of the work life of the ship breaking workers in Sitakunda. By dismantling around 47.20 per cent of world vessels, Bangladesh became the world’s top destination for retired ships. A report ‘Review of Maritime Transport 2019′ by the United Nations Conference on Trade and Development (UNCTAD) revealed that India (25.6 per cent), Pakistan (21.5 per cent) and Bangladesh make up (70-80 per cent) of the international recycling market for ocean-going vessels. These three countries have high needs for scrap metal. In Bangladesh, the ...

Daewoo Shipbuilding & Marine Engineering (DSME) has been awarded an order to build six liquefied natural gas (LNG) carriers valued at US$1.8 billion. DSME announced on Oct. 12 that it has received the order from a European shipping company, without disclosing its name. Industry insiders say that the client is highly likely to be Novatek, Russia’s second-largest natural gas producer. Novatek has been pushing to place orders for icebreaking LNG carriers to be used for an Arctic Ocean LNG project. The order is the first one for LNG carriers in ...

Damen Shipyard’s Group Fast Crew Supplier 2710 has received an approval in principle from ABS. This is an important step towards Damen’s next generation CTV (Crew Transfer Vessel) being used to support the developing US offshore wind industry. To achieve the approval, Damen has modified the design of its standard FCS 2710 to meet the US requirements. Waterjets are now incorporated, driven by engines that are compliant with US Environmental Protection Agency regulations. The FCS 2710, over 65ft in length, is well suited to the tough operating conditions on the ...

On recent orders from Greek shipping companies, South Korea’s shipbuilding industry regained the No. 1 spot from China in the third quarter of this year, data showed. According to UK-based market research firm Clarksons Research, Greece placed orders for 18 ships worth 589,421 compensated gross tonnage from Korean shipbuilders this year, accounting for 20.7 percent of Korea’s total orders this year and making Greece the No. 1 source of its orders. During the same period, Korean clients ordered 15 ships worth 371,096 CGT from Korean shipbuilding companies. Saudi Arabia ordered ...

Keppel Offshore & Marine Ltd (Keppel O&M) has secured a contract valued at approximately S$600m from an energy company for the engineering, procurement and construction of a vessel for the offshore renewable energy industry. This is in line with Keppel Corporation’s Vision 2030, which includes seeking opportunities in providing renewable energy solutions. Keppel O&M is able to provide a variety of design and construction solutions for the offshore renewable energy industry. It is currently building converter stations and substations to support the offshore wind energy industry in the German sector ...