Liquidation looming for Sungdong [Finance]
A recent calculation reported that Sungdong Shipbuilding & Marine is more valuable when it is liquidated. This is the first time a research claims that liquidation is economically more valid then the yard’s continued operation. Accord...
2017-11-21 06:59:43
"RG shall be issued for STX," says KDB chairman [Finance]
Korea's four National Assembly members announced on Monday an urge for political supports to small and medium shipbuilders in the country. Kim Seong-Chan, a lawmaker based in Jinhae district where STX Offshore & Shipbuilding is located...
2017-11-20 14:13:38
Kvaerner awarded contract for Yme support structure [Offshore]
Kvaerner announced on November 16 that it has been awarded a contract with Repsol Norge AS for the construction of a permanent caisson support structure for the Yme New Development project. The contract, with a value of around NOK 70 million, ...
2017-11-20 07:16:58
Siemens tackles structural market changes [General]
Siemens announced on November 16 that the company is responding to the rapidly accelerating structural changes in the fossil power generation market and the commodity sector. A consolidation plan for the Power and Gas Division (PG), the Power Gen...
2017-11-20 07:16:25
Sanmar tug continues to impress Abu Dhabi Ports [Shipbuilding]
Sanmar shipyards of Turkey recently announced the award of the most recent additions to the Abu Dhabi Port Company’s (ADPC) tug fleet. Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the emir...
2017-11-20 07:16:04
Shearwater GeoServices awarded ONGC survey [Offshore]
Shearwater GeoServices (“Shearwater”) announced on November 15 that it has been awarded a 3D broadband marine seismic acquisition contract by ONGC for the planned 2017/2018 field season. The surveys are expected to take approximately five mon...
2017-11-20 07:15:15
WFW advises Teekay LNG on newbuildings [Finance]
International law firm Watson Farley & Williams (“WFW”) announced on November 15 that it has advised Teekay LNG Partners L.P. (“Teekay LNG”) on the US$327m long-term financing signed in November 2017 to fund a floating storage unit (F...
2017-11-20 07:14:42
ASL registers Q3 earnings [Shipbuilding]
ASL recently published its Q3 earnings announcement, which contains its market analysis and future strategy. Market and industry outlook As our businesses are primarily affected by the market conditions in the shipbuilding, shipping, oil &a...
2017-11-20 07:14:19
AVIC reports 3Q results [Shipbuilding]
AVIC International Maritime Holdings Limited (“AVIC Maritime” and together with its subsidiaries, the “Group”), an integrated marine and offshore one-stop solution provider under the AVIC Group, reported the financial results for the quar...
2017-11-20 07:13:11
Hapag-Lloyd, "no more newbuildings" [Shipping]
German operator Hapag-Lloyd announced that it would pursue no more new orders in coming few years. The company explained the decision through its Q3 result announcement, saying it had already built a large fleet through a merger in May with Un...
2017-11-20 07:12:17
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