Offshore
Yantai expands with yard acquisition
China’s Yantai Raffles Offshore, a subsidiary of Yantai Raffles Shipyard, has entered into an agreement to purchase 100% equity interest in Sanlian Longkou shipyard in Shandong for a cash consideration of RMB291m ($42.6m). Completion of the acq...
2009-11-04 07:28:17
End nears at STX Europe unit
STX Europe will end shipbuilding at its Floro Shipyard once the yard delivers its final vessels early 2010. STX will use the yard on Norway’s west coast as a maintenance facility for offshore and commercial vessels, it said. Floro is building...
2009-11-04 07:12:09
Timblo builds new yard
A newcomer to the Indian shipbuilding sector is pushing ahead with its new yard construction plans in the belief it can grab substantial business from the growth in domestic demand for offshore vessels. Goa-based Timblo Drydocks - a part of the Pa...
2009-11-03 07:41:25
OSV faces huge orderbook
The outlook is not that rosy with new arrivals expected to neutralize demand. The huge orderbook of newbuildings will weigh heavily on the sector for offshore support vessels (OSVs) over the next few years. Offshore shipowners can expect their mar...
2009-11-03 07:34:44
SAL cancels newbuilding order
Norway’s Bergen Group says a deal to build an offshore construction vessel for Germany’s SAL Schiffahrtskontor Altes Land will not lead to a formal contract. It said an MOU between the two parties to build the vessel had now expired without a ...
2009-11-03 07:26:20
Hyundai wins $1.4bn Myanmar gas project
Hyundai Heavy Industries of South Korea has secured Myanmar ‘Shwe’ gas field development project worth $1.4bn. The world’s largest shipbuilder said on November 2nd that it has been awarded the gas field development contract from compatriot D...
2009-11-02 12:33:52
Tidewater orders PSV
Tidewater has included a sixth vessel in its sale-and-leaseback program and ordered a platform supply vessel (PSV) at its owned shipyard. The company also says it purchased an offshore tug and sold 11 vessels. Finance chief Quinn Fanning said in a...
2009-11-02 07:16:05
Hyundai aims at $5bn in Q4
South Korea’s Hyundai Heavy Industries is forecast to win new orders of more than $5bn in the fourth quarter of this year. Seoul-based Hanwha Securities analyst Kim Hong-gyoon said, “Non-shipbuilding business divisions are expected to win the ...
2009-11-02 06:24:11
Jurong completes biggest rigs
Singapore’s Sembcorp Marine unit Jurong Shipyard announced Wednesday the completion of the two biggest ultra deepwater DP3 semi-submersible drilling rigs it has built to date for major US independent drilling contractor Noble Drilling. The second B...
2009-10-30 07:32:18
Wuchang-Xianghai join hands for offshore
According to local media reports, China's Wuchang Shipyard Heavy Engineering and Jiangsu Xianghai Shipbuilding Heavy Industry have signed a strategic co-operation agreement to jointly develop a manufacturing base in East China region for ships and ot...
2009-10-29 15:09:09
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