KAMCO to support shipping & shipbuilding together [Finance]
It emerged that the Korea Asset Management Corporation (KAMCO) has recently revealed its business direction for this year and announced that it is planning to invest KRW 100bn (approximately $89.11m) in new ship construction programs. KAMCO Ch...
2017-03-24 07:12:36
Dongsung selects new CEO [People]
Dongsung Finetec announced through a regulatory filing on March 22 that the Korean cryogenic insulation product maker has appointed Ryu Wan-Soo as a new CEO. The company conveyed, "The change in personnel has resulted from the resignation of t...
2017-03-24 07:10:45
Dongsung selects new CEO [General]
Dongsung Finetec announced through a regulatory filing on March 22 that the Korean cryogenic insulation product maker has appointed Ryu Wan-Soo as a new CEO. The company conveyed, "The change in personnel has resulted from the resignation of t...
2017-03-24 07:10:18
USCG ballast water rule to be strengthened [Equipment]
The US Coast Guard (USCG) plans to further strengthen the enforcement of USCG-approved ballast water treatment systems as they become available on the market. According to industry sources, Jeffrey Lantz, director of USCG's director of regulat...
2017-03-24 07:09:10
New money to be injected into DSME [Finance]
The creditors of Daewoo Shipbuilding & Marine Engineering are to push ahead with an injection of new money into the Korean shipbuilding heavy weight that is having a liquidity crisis.  However, the financial support is conditioned on ...
2017-03-24 07:07:40
China still needs more new orders [Shipbuilding]
Chinese shipbuilders are seeing an upturn in new ship contracting early this year on the strength of a slight recovery trend in the global shipping industry. However, a decrease in their backlog still continues while the overall industry conditio...
2017-03-24 07:06:52
IHI awarded jib crane order from Miraiships [Equipment]
Japan’s IHI Corporation announced on March 22 that IHI Transport Machinery, a group company, has won a 50-ton jib crane order from a shipyard newly established by five shipbuilding companies in Kesennuma and two related companies. The crane ...
2017-03-24 07:04:58
DHT sells its oldest VLCC [Shipping]
DHT Holdings, Inc. announced on March 17 that it has entered into agreement to sell the DHT Ann, a 2001 built VLCC, for $24.8m.  The sale is in accordance with the company's fleet renewal strategy.    The company will deliver th...
2017-03-23 07:29:52
Nokia and Facebook break subsea efficiency record [Offshore]
Nokia and Facebook have collaborated on field trials of new optical digital signal processing technologies over a 5,500 kilometer transatlantic subsea link. As bandwidth-hungry applications such as video and virtual reality become accessible t...
2017-03-23 07:28:59
GTT to equip new HHI LNG carrier [Equipment]
GTT has received an order from Hyundai Heavy Industries to equip a new LNG carrier with its Mark III Flex containment system.  Hyundai's shipyard based in Ulsan, Korea will build the vessel of 180,000 m3 on behalf of the Norwegian shippin...
2017-03-23 07:27:09
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