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Hyundai pens $1bn gas project
[Offshore]
South Korea’s Hyundai Heavy Industries has signed a $1bn contract with Abu Dhabi Gas Liquefaction for engineering and construction work for a gas development project, local newspaper United Arab Emirates News reported. According to the news rep...
2010-01-20 07:01:35
Unions united to fight against layoffs
[General]
As restructuring and downsizing spread in shipbuilding industry, triggered by global economic recession and orders drought, labor unions of seven shipbuilding companies in Korea warned that they will never sit back and watch the companies pass ‘the...
2010-01-20 06:59:02
Recovery of new orders to drag
[Shipbuilding]
Newbuilding market, which showed flash recovery recently with a number of new orders, seems to have a long way to substantial recovery due to still lasting oversupply problem. Song Jae-hak, analyst from Seoul-based Woori Investment & Securities s...
2010-01-20 06:51:13
Doosan targets 10trn won orders
[Finance]
South Korea's Doosan Heavy Industries & Construction (DHIC) has set up its management target of securing 10trn won ($8.8bn) orders this year for the first time and raising the ratio of operating profit to revenue to 10% by 2015. Management of Doo...
2010-01-19 16:18:01
China urges ‘Self-Transportation’
[Shipping]
Since the global financial crisis broke out in late 2008, China’s shipbuilding industry has been experiencing the toughest time ever. About how the country’s yards should deal with it, Mr Zhang Guangqin, Chairman of the China Association of t...
2010-01-19 15:54:45
Daewoo to Win Cruiseship
[Shipbuilding]
South Korean major shipbuilder Daewoo Shipbuilding & Marine Engineering is also forecast to bag a cruiseship newbuilding contract for the first time ever, following Samsung Heavy Industries which was awarded a basic contract to build a 100,000-gt cla...
2010-01-19 14:44:24
Hyundai tightens ties with suppliers
[Equipment]
South Korea’s Hyundai Heavy Industries is stepping up the co-operation with its collaborative companies in a bid to tide over the global economic crisis. The shipbuilding company held a new-year meeting in Ulsan earlier today with representative...
2010-01-19 14:02:15
Sungdong sets up Greece outpost
[General]
South Korea's Sungdong Shipbuilding & Marine Engineering is reportedly establishing its first overseas office in Athens. The company says the city is a natural place for a base as Greek shipowners are the largest newbuilding players in the world. ...
2010-01-19 12:01:48
Selay dispute over cancelled tankers
[General]
A bitter spat continues between a Turkish shipyard player and the original owner of two cancelled tankers, foreign media reports. Leading Turkish chemical-tanker operator Selay Shipping & Trading says it intends to trade two chemical/oil tankers ...
2010-01-19 07:49:26
Maersk moves up delivery
[Shipping]
AP Moller-Maersk has opted to take in its last newbuilding despite employment falling through, foreign media reports. Danish owner AP Moller-Maersk has brought forward the delivery of its final LNG newbuilding on the back of a planned charter tha...
2010-01-19 07:45:03
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