HHI preparing for smaller revenue [Shipbuilding]
Hyundai Heavy Industries (HHI) announced on a regulatory filing on January 3 that its 2017 revenue (separate basis) is estimated to be KRW10.0364trn, and 2018 revenue is estimated to be KRW7.9866trn. It means that the company is preparing 20.4% l...
2018-01-08 07:11:35
DSME Chung acquitted on charges of fraud [General]
Daewoo Shipbuilding & Marine Engineering (DSME) CEO Chung Sung-Leep and CFO Kim Youl-Jung are acquitted on charges of accounting fraud. The prosecution announced on January 4 that the office drops the charges against them. They have been i...
2018-01-08 07:10:39
"2018, the year of green transition" [Shipbuilding]
The industry is heating up with expectations for the transition in marine fuel, especially LNG. Titan LNG, a Dutch LNG bunkering company recently stated that 11% of newbuildings ordered in 2017 will feature LNG propulsion system, and the tre...
2018-01-08 07:06:01
HHI won TMS Cardiff LNG ship [Shipbuilding]
Christos Economou-led TMS Cardiff Gas turned out to have ordered up to three LNG carriers at Hyundai Heavy Industries. On its webpage, TMS Cardiff Gas announced on January 4 that it placed the first order (1+1) for ‘X Carrier’ series. Th...
2018-01-08 07:05:13
To be or not to be: Sungdong&STX’s March [Shipbuilding]
STX O&S and Sungdong Shipbuilding and Marine Engineering are at the edge of life and death. The due diligence process started at the end of last year can end up with liquidation. According to the industry, Sungdong has received a request t...
2018-01-08 07:04:31
GTT to design LNG tank for Korean yard [Equipment]
GTT announced on January 3 that it received at the end of 2017 an order from a South Korean shipyard regarding the design of the LNG tanks of a new LNG carrier. Its delivery is scheduled for the first quarter of 2020. GTT will design the LNG t...
2018-01-05 07:17:03
Royal IHC acquires KCI from Oceanteam [General]
Oceanteam ASA (Oceanteam), the Dutch – Norwegian offshore service provider, listed at the Oslo stock exchange, and Royal IHC (IHC), a Dutch privately owned global supplier of innovative and efficient equipment, vessels and sustainable services ...
2018-01-05 07:16:25
Maersk Drilling awarded Tullow Ghana [Offshore]
Maersk Drilling announced on January 2 that it has been awarded a four year contract for the deep-water drillship Maersk Venturer by Tullow Ghana Ltd. The contract, which was signed December 2017, is expected to commence in February 2018 and c...
2018-01-05 07:16:04
MOL CEO Ikeda's 2018 New Year Message [Shipping]
The following "2018 New Year Message" was addressed on January 4 to all MOL officers and employees by President & CEO Junichiro Ikeda. 2017 in Review First, a quick look back. 2017 was a year of resurgent growth in global trade, supported...
2018-01-05 07:15:40
BAE Systems wins multple US Navy deal [Shipbuilding]
BAE announced on January 3 that it is awarded a multiple modernization deal from US Navy.  First, BAE Systems has received a $41.6 million contract from the U.S. Navy to modernize the guided missile destroyer USS Oscar Austin (DDG 79). T...
2018-01-05 07:14:02
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