General
Danfoss takes over Eaton's Hydraulics
▶ Danfoss has entered into an agreement to acquire Eaton’s Hydraulics business. The acquisition marks a major milestone in the company’s history and its Going Great strategy.   Danfoss announced on January 21 that it has enter...
2020-01-30 09:25:52
FINCANTIERI began the green project “ITER”
Fincantieri announced on January 20 that it has been awarded a prestigious order, worth almost 100 million euros, for a number of high-profile systems, components, installations as part of the ITER Project, a multinational collaboration aimed at ...
2020-01-28 09:46:04
McDermott files for Chapter 11 bankruptcy
McDermott International, Inc. (NYSE: MDR) ("McDermott") announced on January 21 that it has the support of more than two-thirds of all its funded debt creditors for a restructuring transaction that will equitize nearly all the Company's funded de...
2020-01-28 09:27:32
KOMERI expands international recognition testing service
Korea Marine Equipment Research Institute (KOMERI) won recognition for expanding the scope of approval by the official international recognition test institute on January 15. Following the recent renewal of the qualification of the authorized ...
2020-01-28 09:14:46
DSME to make early payments before holiday
Daewoo Shipbuilding & Marine Engineering (DSME) is to pay around KRW32bn to its suppliers earlier than scheduled before Lunar New Year's Day. The original due date had been January 30, and DSME is to make the payment by January 22, which...
2020-01-21 09:15:27
FUGRO has adverse outcome in arbitration
Fugro Singapore announced on January 6th that an unfavourable outcome in its arbitration with Tasik Toba Subsea AS (“Tasik”). Fugro Singapore has been involved in arbitration proceedings with Tasik regarding the handing back to Tasik in Ma...
2020-01-09 09:21:06
Subsea 7 executive teams changed
Subsea 7 has recently announced changes to the Executive Management Team, effective from 1 January, 2020. John Evans is now in place as Chief Executive Officer, succeeding Jean Cahuzac who retired at the end of 2019. Jean remains on the Board ...
2020-01-07 09:31:52
Cho appointed as Hyundai Electric president
Hyundai Heavy Industries Group announced on December 26th that it has appointed Cho Seok, as the new president of HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD., which specializing in power equipment and energy solutions. Cho Seok was born in...
2019-12-27 08:52:02
Arnout Damen chosen as new Damen CEO
Damen Shipyards Group announced on December 23 that Arnout Damen will become the new CEO as of January 1. At the same time, the shipbuilding company is switching to a divisional structure to serve the market more effectively and efficiently. A...
2019-12-26 09:04:02
KR elects 24th chairman
The Korean Register of Shipping (KR) had an extraordinary general meeting on December 23 at the office building of the Korea Chamber of Commerce & Industry (KCCI), Seoul, Korea, and elected Lee Hyung-chul as its 24th chairman.  During...
2019-12-26 08:44:55
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