VLCC price peaked in three years
The price of very large crude carrier (VLCC) has jumped to its highest level in nearly three years. VLCC prices Korean and Japanese shipyards currently offer have surpassed a $90m level for the first time since 2015, Charles R. Weber Com...
Korea hogs 1H LNGC orders
It turned out that about 30 LNG carriers were newly ordered in the first half only. According to TradeWinds and industrial data, global shipbuilding industry saw 16 new LNG carrier orders in the first quarter, followed by eight units in the se...
ZIM forms alliance with 2M
Israel's ZIM Integrated Shipping Services, which has not joined any shipping alliances for a long time, made a new strategic cooperation on the Asia – US East Coast trade with the members of the 2M Alliance, Maersk Line and Mediterranean Shippi...
DSME responsible for 2015 industrial accident
The Supreme Court of Korea ruled on July 20 that Daewoo Shipbuilding & Marine Engineering (DSME) is responsible for the death of two workers in 2015. On the day, the court convicted two DSME executive members of neglecting their duties to ...
H-Line signs LNG bulker MOU with HHI
H-Line Shipping has signed an MOU with Hyundai Heavy Industries (HHI) for two LNG powered large bulkers, it is said. It is also understood that Hyudai Samho Heavy Industries (HSHI) will build the units. According to foreign media and the indus...
Shipbuilders keep consuming orderbook
Global newbuilding orderbook recorded 198.7m dwt (75.3m cgt, 3,017 units) at the end of June, which is 11% lower compared to the beginning of the year in terms of the number of units (6% lower in terms of dwt). As of the end of June, according...
SHI cuts Coral FLNG steel in September
Samsung Heavy Industries (SHI) is cutting the steel for Coral FLNG project in coming September. According to the industry, SHI is starting the construction of the $2.5bn floating platform it won back in June 2017. Coral FLNG, led by an Ital...
SHI sees up in both revenue and loss
Samsung Heavy Industries (SHI) announced through a regulatory filing on July 23 that the company posted revenue of KRW 1.3466trn (about $1.19bn), but saw a KRW 100.5bn operating loss for the second quarter of 2018. The revenue saw a 8....
HHI logged KRW175.7bn loss in Q2
Hyundai Heavy Industries (HHI) released slightly higher quarterly revenue thanks to the exchange rate and increasing work volume. HHI reported through a regulatory filing on July 23 that its Q2 result (consolidated basis) logged KRW3.1244 of r...
KR-STX develop standard design for LNG BCs
The Korean Register of Shipping (KR) announced that the society and STX Offshore & Shipbuilding (STX O&S) signed an MOU for JDP developing a standard design of LNG powered bulker and gas supply systems. Two parties are planning to prod...
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