Norwegian investor orders DSME VLCCs
Norwegian investor Arne Fredly is understood to have entered the ship owning market, ordering up to seven VLCCs at Daewoo Shipbuilding & Marine Engineering (DSME). According to foreign media and industry, Apollo Asset owned by Fredly have ...
Fincantieri orders cruise ship blocks from Australia
Fincantieri's entry into Australian shipbuilding industry has been accelerated. The Italian shipbuilder commissioned two Australian companies MG Engineering and Ottoway Engineering to manufacture blocks for cruise ship construction works...
Busan LNG bunkering base plan emerges
A plan for the site selection of the Busan New Port's LNG bunkering station, which had been on hold for years, is likely to be shaped in June this year. As a part of the project, according to the Ministry of Oceans and Fisheries (MOF) of...
Delivery of world’s first LNG-fuelled bulk carrier reveale
The delivery of the ‘Ilshin Green Iris’, the world’s first LNG-fuelled bulk carrier, has been announced on April 10. The vessel was constructed at Hyundai Mipo Dockyard (HMD) in Korea for Ilshin Logistics and is the result of a project, ann...
Vard secures contract for one stern trawler
Vard announced on April 10 a new contract for the design and construction of one stern trawler for HAVFISK AS. The contract value is slightly below NOK 400 million. Building on the successful collaboration and strong track record in the design...
Why are DSME' profits relatively high?
Daewoo Shipbuilding & Marine Engineering (DSME) makes higher profits than its rivals on the strengths of 'a reduction of ship construction costs' and 'repetition effect from a large amount of orders', according to a Korean industry expert. ...
Korea expected to see 'fine day' from 2H
In the aftermath of 2015-2016 order slump, Korean shipbuilders are expected to see a fall in sales and a rise in fixed costs until the first half of this year. It seems that, however, shipping rates and global orders will show upturn against a ba...
YZJ inks LOI for up to 20 BCs
Forward Maritime Group has recently announced that the Greek company signed a letter of intent (LOI) with Yangzijiang Shipbuilding (Holdings) Group (YZJ) for the construction of up to 20 LNG-fueled bulkers. Design called 'Forward Bulker 84-LNG...
STX snatches life out of devastation
The government and creditors decided on April 11 to accept STX O&S' self-rescue plan, giving STX a second wind. KDB stated that "we and our expert analysis confirmed that STX's self-rescue plan has more than enough intensity, even more tha...
STX CEO: "back to normal in two years"
STX O&S CEO Jang Yoon-Geun manifested on April 11 that "We will try best to normalize STX in two years.“ At the statement, Jang commented that “the labor and the management managed to come up with the final agreement, and submitted it ...
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