Endesa receives offers for LNGC duo
Endesa, the largest electric utility company in Spain, turns out to have received official offers from shipbuilders for two additional LNG carriers. According to foreign presses and industrial sources, commercial offers were submitted at the e...
President Moon: “shipbuilding will stand tall”
Korean President Moon Jae-In chose Okpo shipyard of Daewoo Shipbuilding & Marine Engineering (DSME) for his first official visit in the new year on January 3. He also again declared his intention to revive shipbuilding industry and build mari...
[2018 New Year's Address] HHI CEO Kang
“Success in the past won't save us from the current struggle for survival. Only our own excruciating effort will.” Kang Hwan-Goo, the President of Hyundai Heavy Industries (HHI) stated in his new year’s message. “2017 was a crucible...
[2018 New Year's Address] SHI CEO Nam
"Our top priority for this year is to secure stable order covers. For this, there is a need of high cost competitiveness," Nam Joon-Ou, CEO at Samsung Heavy Industries (SHI), said on January 3 in his New Year's Message this year. He expl...
Ocean Yield in negotiations for new vessels
Ocean Yield ASA ("Ocean Yield" or the "Company") is currently in negotiations regarding further investments in modern vessels with long term charters. The investments are still subject to board approval and agreement on documentation. Ocean Yi...
DACKS nets two VLCCs
Through a regulatory filing on December 12, 2017, COSCO Shipping Energy Transportation (CSET) announced that it have ordered two 308,000dwt VLCCs at Dalian COSCO KHI Ship Engineering (DACKS). It is understood that their total value is $160m, w...
Zvezda expected to create many jobs
It is said that Russia's Zvezda Shipbuilding Complex will create a huge number of jobs. The Ministry for the Development of the Russian Far East has recently announced that the modern shipyard will create 6,500 new jobs. Aleksandr Pol...
MOL orders one VLGC from KHI
Singapore-based Phoenix Tankers, a wholly-owned subsidiary of Mitsui O.S.K. Lines (MOL), has ordered a new very large gas carrier (VLGC) from Kawasaki Heavy Industries (KHI) of Japan. According to foreign press and brokers, Phoenix Tankers c...
HHI labor-management strike tentative agreement
Hyundai Heavy Industries (HHI) union and management, two parties who could not have closed wage negotiations for two years, made a tentative agreement for 2016 and 2017’s wage after a year and seven months since May 2016, when they begin negoti...
FLEX LNG signs contract for first LNGC newbuilding
FLEX LNG LTD (FLEX LNG or the Company) (OSE:FLNG) announced on December 28, 2017 that it has entered into a time-charter contract for the LNG carrier newbuilding, FLEX ENDEAVOUR, to Uniper Global Commodities ("Uniper"), a leading international en...
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