Mainboard-listed Yangzijiang Shipbuilding (YZJ) has won its first order for two 175,000 cubic metres liquefied natural gas (LNG) carriers. The order brings the group’s order book to an all-time high of above US$10 billion ($14.20 billion). According to YZJ, the order was placed by a European customer and the vessels are slated to be delivered between 2025 to 2026. These vessels will be the group’s first GTT Mark III LNG carrier order after obtaining the GTT license in early September this year. Vessels measuring 170,000 cubic metres-180,000 cubic metres is ...

Keppel Corporation Limited (Keppel) announced today that it has signed revised agreements with Sembcorp Marine on the proposed combination of Keppel O&M and Sembcorp Marine, changing certain commercial terms and the transaction structure, which would simplify implementation, provide greater deal certainty and accelerate the completion of the transaction. Keppel also announced that it has signed revised agreements with Baluran Limited (Baluran), an indirect wholly-owned subsidiary of ASM Connaught House Fund V, and Kyanite Investment Holdings Pte. Ltd. (Kyanite), an indirect wholly-owned subsidiary of Temasek, such that the proposed combination and ...

GTT announces that it has received two Approvals in Principle (AiP) for its innovative three-tank LNG tanker design, from DNV and Bureau Veritas (BV). This cutting-edge technological solution is aimed at increasing the profitability and overall performance of the vessel. This three-tank LNG carrier concept permits a reduction in construction costs through the suppression of one cofferdam, one pump tower and all associated cryogenic equipment (liquid and gas domes, valves, piping, radars, etc.). The overall surface area of the containment system will also be reduced by about 2,000 m², generating ...

Daewoo Shipbuilding & Marine Engineering Co. is building an eco-friendly wind turbine installation vessel (WTIV) that is equipped with smart ship features. The company signed a contract with Monaco-headquartered maritime player Eneti Inc. last week to add its smart ship system to a WTIV being built at the company’s Okpo shipyard on Geoje Island, southeastern South Korea. It is the first time that smart technology has been employed in the offshore plant industry. The solution, named DSME Smartship Solutions (DS4), supports safe sailing by detecting nearby vessels and the surrounding ...

YSA Design has appointed Jan Krefting as its new Chairman, in a move timed to take greater advantage of collective working as the Oslo-based ship design company responds to an upturn in cruise industry concept and project work. A partner and YSA Design Senior Architect, Krefting is well-known to industry decision-makers for his collaborative approach in interpreting owner aspirations and converting them into elegant, practical and deliverable designs, based on a 35-year career in ship design. With cruise ship newbuilding projects restarted and demand for refurbishment of older vessels re-emerging ...

Celebrating the start of the construction of a second batch of two Offshore Patrol Vessels for the Pakistan Navy, the Chief of the Naval Staff Admiral Muhammad Amjad Khan Niazi performed the initial welding work on the keel of the first vessel at Damen Shipyards Galatí on October 12th 2022. Mrs Annelies Damen, Member of the Supervisory Board, welcomed the Admiral and his delegation on behalf of the Damen family for a celebration of the continued co-operation. Together with the keel laying of the first vessel planned for completion, first ...

A study said that South Korea needs to hire 43-thousand more people over the next five years to maintain the competitiveness of its shipping industry. According to the study commissioned by the Korea Offshore and Shipbuilding Association and released on Sunday, the number of workers in the local shipbuilding industry has continued to decline after hitting 203-thousand-441 in 2014. As of July this year, the figure stood at 92-thousand-394, more than halving over the period of eight years from 2014. During the cited period, design and research workers slipped 46-point-seven ...

GTT announces, in the third quarter, that it has received an order from its partner the Korean shipyard DSME for the tank design of six new Liquefied Natural Gas Carriers (LNGC), on behalf of two Asian ship owners. GTT will design the tanks of these six vessels, which will each offer a capacity of 174,000 m3. The tanks will be fitted with the NO96 L03+ membrane containment system developed by GTT. The delivery of the vessels is scheduled between the third quarter of 2025 and the fourth quarter of 2026. ...

Drydocks World, a DP World Company, has begun the construction of a new topside oil production module for KANFA, an independent process design and engineering company which will be deployed at the Karish field in the eastern Mediterranean. The steel cutting ceremony for the KANFA AS Module M10, an oil separation train, marks the first collaboration between Drydocks World and KANFA AS. Drydocks World scope includes the procurement of bulk materials (structure, Piping, electrical & instrumentation), fabrication, surface treatment including PFP application, mechanical completion, load out and sea fastening for ...

Sembcorp Marine Ltd., through its wholly-owned subsidiary, Sembcorp Marine Rigs & Floaters Pte Ltd, entered into Master Service Agreements with New Fortress Energy Inc. (NASDAQ: NFE) affiliates for the engineering and conversion of two Sevan cylindrical drilling vessels to Floating LNG (“FLNG”) liquefaction facilities, including the fabrication and integration of LNG topside modules. The hull conversion and fabrication of topsides for the first FLNG liquefaction facility is scheduled for delivery in the first half of 2024 through the Work Engagement Contract awarded by NFE. Work on the second FLNG liquefaction ...

The South Korean government announced that it would invest more than 140 billion won in R&D in the shipbuilding sector so that South Korea’s share in the global high value-added ship market can reach 75 percent by 2030. The government’s new projects in the sector include domestic development of LNG-fueled ship technologies. The investment will be made next year and additional investments will follow in developing carbon capture and storage for use in ships, rotor sails, and so on. A liquid hydrogen carrier prototype is scheduled to be built starting ...

With burgeoning demand for liquefied natural gas, new orders for LNG carriers have recorded significant jump recently, Securities Times reported. According to data provided by market tracker Clarksons Research, at the start of October, the order book of LNG carriers stood at a record high of 128. Between 2018 and 2021, the trading volume of new LNG carriers in the world reached 77, 60, 53 and 86, respectively. Early this month, the daily rate for large-size LNG carriers in Asian-Pacific and Atlantic Ocean regions shot up to more than $300,000, ...

Sembcorp Marine Ltd (the “Company”), through its wholly-owned and operated subsidiary Estaleiro Jurong Aracruz (EJA) has crossed another significant operational milestone with the completion of P-71, its second floating, production, storage and offloading (FPSO) vessel project for Tupi B.V. A newbuild FPSO vessel, P-71 sailed away from EJA’s shipyard today and will be deployed to the ultra-deepwater Itapu field in Brazil’s Santos Basin. When launched into operation, P-71 will produce up to 150,000 barrels of oil per day (BOPD). Measuring 316m in length and 54m in width, P-71 has a ...

The government released a plan for Korea’s shipbuilding industry emphasizing environmentally friendly vessels and a new handling of skilled worker visas. More workers with non-professional E-9 visas will be allowed to convert to E-7-4 skilled workers visas to work in shipbuilding. With that visa, they can bring their families to Korea and apply for permanent residency. This will apply to people who have worked for a minimum of five years on E-9 visas. Around 100 to 200 workers will be allowed to upgrade their visas next year. The shipbuilding industry ...

GTT announces that it has received, in the third quarter, two orders for the tank design of three new LNGCs1. The first LNG carrier will be built by the Chinese shipyard Jiangnan, on behalf of an international shipowner, and the two others by the Chinese shipyard Dalian Shipbuilding Industry Co, on behalf of the shipowner China Merchants Energy Shipping (CMES). As part of this order, GTT will design the tanks of the vessel, which will offer a cargo capacity of 175,000m3 each and will be fitted with the Mark III ...