KHI's offshore newbuilding order canceled? [Offshore]
A 2014 made newbuilding order between Japanese industry giant Kawasaki Heavy Industries (KHI) and Island Offshore Shipholding of Norway to build a Well Intervention and Tophole Drilling Vessel is reported to be canceled. KHI said most offshore...
2017-06-29 21:19:08
DSME charged $53m in taxes [Finance]
It turned out that the Seoul Regional Office of the National Tax Service (NTS) of Korea has collected a combined KRW 60.98bn (approximately $53.48m) in taxes from Daewoo Shipbuilding & Marine Engineering.  According to an announcement...
2017-06-29 21:18:14
Ulsan extends tax support period [General]
Ulsan Metropolitan City of Korea has recently announced that it will extend the period of its 'tax support solution for local shipbuilding industry' for another year to June 30, 2018, from July 1, 2017.   As shipbuilders in Ulsan, Geoje C...
2017-06-29 21:16:22
DSME secures KRW 2trn in capital [Finance]
Daewoo Shipbuilding & Marine Engineering announced on June 28 that it secured KRW 2.1trn ($1.8bn) in capital during the first half of the year.  The shipbuilder issued KRW 1.3trn won of perpetual bonds and sold them all to the state-r...
2017-06-29 21:15:37
Sasebo records net loss in 3 years [Shipbuilding]
Japan's Sasebo Heavy Industries recently reported a net loss of JPY 117m ($1.04m) in 2016FY. This is a worse result than the JPY 4.1bn surplus in 2015FY and the company recorded a net loss in three years. This deficit is analyzed as a result o...
2017-06-29 21:14:51
Gyeongnam, Korea to promote LNG bunkering cluster [General]
South Gyeongsang (Gyeongnam) Province in Korea held 'Seminar for the promotion of LNG bunkering and LNG fueled vessels' on June 28 at Changwon.   On the same day earlier, the Province signed MOU with TNO (Nederlandse Organisatie voor toege...
2017-06-29 21:13:48
Jeolla yards saw sharp increase in order intakes [Shipbuilding]
Shipbuilders in South Jeolla Province of Korea turn out to have seen a sharp increase in their new order intakes this year. According to the province, Hyundai Samho Heavy Industries located at Yeongam·Daebul National Industrial Complex has wo...
2017-06-29 21:12:31
HHI Group-KEPCO enter new business [Shipbuilding]
Hyundai Heavy Industries, Hyundai Oilbank and the Korea Electric Power Corporation (KEPCO) signed a memorandum of understanding (MOU) for the joint development of overseas project for electricity generation from petroleum coke (pet-coke), a final...
2017-06-29 21:11:45
DSME earns patent royalty from MDT [Equipment]
Daewoo Shipbuilding & Marine Engineering (DSME) is earning patent royalty from MAN Diesel & Turbo (MDT), who used its patents to retrofit existing LNG vessel’s diesel engines to LNG fueled engines. MAN Diesel & Turbo recently ret...
2017-06-29 21:11:11
SHI completes world's largest FLNG [Offshore]
Samsung Heavy Industries has started the sail-away of the world's largest offshore plant. In June 2011, along with France's Technip, the shipyard clinched a $3.4bn deal from Shell to build the floating LNG production facility, named Prelude FL...
2017-06-29 21:10:14
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