Cochin to go public [Finance]
It turned out that India's state-owned shipbuilder Cochin Shipyard Ltd (CSL) plans to call for Initial Public Offering (IPO) with a view to raising around INR 15bn (approximately $230m) for the investment in its shipyard facilities.  CSL ...
2017-03-31 07:13:43
Fitch focuses on further supports on DSME [Finance]
International credit-debt watcher Fitch has pointed out through a recent report that Daewoo Shipbuilding & Marine Engineering recorded a net loss of KRW 2.7trn last year despite additional support from the government.  Fitch said, "On...
2017-03-31 07:12:47
Japanese shipbuilders raise wages differently [General]
Labor union of Japanese heavy industries under the Japan Federation of Basic Industry Workers' Unions (JBU) have all received answers from each management for improvement demands of 2017 active plan (AP), which is about a raise of JPY 3000-4000...
2017-03-31 07:10:35
Equipment companies approved for reorganization [General]
The Ministry of Trade, Industry and Energy of Korea approved the business reorganization plan of four companies including Taekyung Heavy Industries, Mytech, Usis, and Hyundai TMC. As a result, the number of companies approved by the corporate vit...
2017-03-31 07:09:54
MOF develops underwater robot [Equipment]
The Ministry of Oceans and Fisheries (MOF) announced on March 28 that it has succeeded in developing multi-joint underwater robot 'Crabster'. To develop walking robot that is capable of exploring the ocean floor on behalf of humans, MOF and th...
2017-03-31 07:09:05
DSME to make efforts to win 'unqualified' opinion [Finance]
Daewoo Shipbuilding & Marine Engineering received 'qualified opinion' from its external auditor Samil PricewaterhouseCoopers on its 2016 financial statement on March 29.  As grounds for the qualified opinion, Samil noted, "Given Daewo...
2017-03-31 07:08:00
HHI develops advanced LNG regasification system [Equipment]
Hyundai Heavy Industries has recently announced that 'Glycol indirect heating LNG regasification system', which is developed by the Korean shipbuilding heavy weight with its own technology, will be installed in a 170,000 cbm LNG-FSRU that is unde...
2017-03-31 07:06:31
HMM to order up to 10 VLCCs [Shipbuilding]
Hyundai Merchant Marine plans to order up to 10 very large crude carriers (VLCCs). According to industry, the Korean shipping company has recently called for a competitive bid for 2+3 VLCCs. The contract will include additional five options.&n...
2017-03-31 07:05:49
MES releases company split plan [General]
Mitsui Engineering and Shipbuilding (MES) had a board meeting on March 30 and announced that the Japanese shipbuilder decided to begin considering the transition to a holding company system, as well as a plan to split the company, as of April 1.&...
2017-03-31 07:02:59
Alfa Laval AFEM achieves significant fuel savings [Equipment]
The Alfa Laval Automatic Fuel Efficiency Module (AFEM) is a new modification for reducing the fuel consumption of Alfa Laval Smit Combustion inert gas systems.  It does so by ensuring the inert gas that keeps cargo safe during offloading ...
2017-03-30 07:38:46
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