Defense orders, ‘Fruitful Showers’
Orders from defense industry are playing a role of ‘fruitful showers’ in South Korean shipbuilding industry where newbuilding orders almost dried up. STX Engine on December 26 revealed that it has signed a contract with Defense Acquisition Pro...
3rd Panama Canal excavation contract
The Panama Canal Authority (ACP) awarded Constructora MECO, S.A. the third of four dry excavation contracts on Dec. 16 to help create an access channel linking the new Pacific locks with the Canal’s existing Gaillard Cut (the narrowest stretch of t...
Mitsubishi to maintain manpowers
It seems that Mitsubishi Heavy Industries (MHI) has instructed in-house business divisions and related companies to continue to employ non-permanent workers. As domestic companies, centering on major manufacturing companies, are planning to implem...
Scrapping of dry bulkers soars
The scrapping of Panamax (around 70,000 dwt) and smaller bulkers is drastically increasing in light of the plunging dry market, with 37 ships sold for scrap since October 2008. Amid the free ships being forced to operate at below cost due to the ...
China to build aircraft carrier
China yesterday gave its clearest indication yet that it would build its first aircraft carrier, a move certain to spark concern in the United States, Japan and especially Taiwan. It came just three days before Chinese warships set sail on the co...
Majority of workers 'have received' severance pay
Most of Malta Shipyards' 1,567 workers who applied for the early retirement schemes have been paid their severance pay and only 531 of them still have to receive their dues, The Times has learnt. Recently, the government was criticised for not hav...
China expands its business
Although the global ship orders have been declining due to the recession, coastal areas such as Shanghai city and Shandong province introduce policies which support the business expansion, such as ship repair and material, etc. as they are optimistic...
Samsung seeks to limit Hebei spill liability
Samsung Heavy Industries is seeking to cap its liability for the Hebei Spirit oil spill at KWD5bn ($38m) after applying to a court in Seoul to limit compensation paid to residents in Taean on the country’s west coast. Officials at Seoul central...
3. Maj workers hold peaceful protest
Workers from the Croatian shipbuilder held a one hour peaceful protest to shop their discontent with the announced model of privatization. A protest was held on December 22 in the shipbuilding company `3. Maj´, which lasted for one hour, at which...
Malta Shipyards faces industrial action
Malta Shipyards came to a standstill for several hours after the General Workers' Union ordered industrial action. Curiously, the news about the action was not broken by the union, as usually happens, but by the management, which said that the act...
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