"Korea needs to detoxify contracts before signing them" [Offshore]
While the global offshore slump still lingering, an analyst argued that Korean industry needs to study offshore related contracts closely to exclude “poisonous clauses,” or hidden clauses that can work unfavorably. Park Moo-Hyun, a researc...
2017-12-15 07:12:20
Hitachi to build IoT development center [Equipment]
Hitachi Zosen, a Japanese shipbuilder announced on December 11 that it will build ‘Hitz Advanced Information Technology Center’ at its HQ in Osaka to push IoT and Big Dat related researches. Since 2011, Hitachi has operated remote monitori...
2017-12-15 07:11:59
JV yard in Saudi Arabia starts in 2020 [Shipbuilding]
The shipyard jointly established by Hyundai Heavy Industries, Saudi Aramco, Bahri, Lamprell, drill equipment manufacturer of UAE is expected to start its operation from coming 2020, building merchant ships. According to industry sources, King ...
2017-12-15 07:11:30
Shipbuilding upturn to go like 'Nike' logo [Shipbuilding]
While global shipyards' new order intakes are showing a recovery trend this year, the opinion generally prevails that 2018's new orders will rise further. According to industry experts, global shipbuilding market condition is expected to show ...
2017-12-15 07:11:06
Korean LNG-fueled ship project accelerated [Shipbuilding]
The Ministry of Oceans and Fisheries (MOF) and the Ministry of Trade, Industry, and Energy (MOTIE) of Korea signed a memorandum of understanding (MOU) to examine a feasibility of Korean LNG-powered vessel project on December 13, during the fourth...
2017-12-15 07:10:40
Japan's orderbook up for two consecutive months [Shipbuilding]
Last November, 17 vessels of 990,000 gt (410,000 cgt) have been reported contracted in Japan for exports, up by 195% year-on-year in terms of gt. According to recent statistics from Japan Ship Exporters' Association (JSEA), last November, ship...
2017-12-15 07:10:15
World Bank Group Announcements at One Planet Summit [Finance]
World Bank Group announced on December 12 that at the One Planet Summit convened by President Emmanuel Macron of France, United Nations Secretary General Antonio Guterres, and World Bank Group President Jim Yong Kim, the World Bank Group made a n...
2017-12-14 07:29:48
MOL-IBM pushs blockchain tech [Shipping]
Sumitomo Mitsui Financial Group ("SMFG", President and group CEO: Takeshi Kunibe), Sumitomo Mitsui Banking Corporation ("SMBC", President and CEO: Makoto Takashima), The Japan Research Institute, Limited ("JRI", President and CEO: Masahiro Fuchiz...
2017-12-14 07:27:18
MHI-Wärtsilä to collaborate on propulsion solution [Equipment]
Mitsubishi Heavy Industries Marine Machinery & Equipment Co., LTD (MHI-MME) announced on December 12 that the company and the smart technology group Wärtsilä have signed a Memorandum of Understanding (MOU) regarding the commercial marketi...
2017-12-14 07:25:48
ABB opens first ABB Ability Center in China [Shipbuilding]
ABB announced on December 5 that it has added Shanghai to its global network of ABB Ability™ Collaborative Operation Centers, after formally opening a new facility to coincide with Marintec 2017. The center supports the shipping industry’s jo...
2017-12-14 07:24:40
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