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ClassNK amended class rules
[Shipbuilding]
Leading classification society ClassNK announced on January 6th that it has released amendments to its Rules and Guidance for the Survey and Construction of Steel Ships on 27 December 2019. ClassNK is constantly revising its Rules and Guidan...
2020-01-08 09:28:55
STX engine product approved by KR
[Shipbuilding]
As a part of project to develop core technologies for shipbuilding and offshore industry, which is led by the Ministry of Trade, Industry and Energy (MOTIE), STX Engine has developed LNG fuel pure gas engine for ship for the first time in Korea...
2020-01-08 09:23:33
DSME expands submarine facility
[Shipbuilding]
Daewoo Shipbuilding & Marine Engineering (DSME) announced on January 7 that the Korean shipbuilding giant had a ceremony to mark the opening of ship lift facility at the quay of its special vessel construction site. DSME has needed to ex...
2020-01-08 09:20:53
Employment improved in shipbuilding industry
[Shipbuilding]
Since there have been few orders over the past few years, the shipbuilders' work has greatly diminished. Recently, however, employment in the shipbuilding industry has shown signs of recovery. According to the industry source, employment in ...
2020-01-08 09:18:54
Korea Ranked No. 1 in NB orders
[Shipbuilding]
The Ministry of Trade, Industry and Energy recently announced that South Korea's shipbuilding industry ranked first in the world by winning 9.43m cgt of global ship orders last year out of 25.29m cgt based on data from Clarkson Research. Alt...
2020-01-08 09:15:56
Borr Drilling amends bank facility covenants
[Finance]
Borr Drilling announced on January 2 that it has agreed with its financing banks to make certain amendments to its financial covenants. The required minimum book equity ratio has been adjusted from 40% to 33.3% and the minimum free liquidity cove...
2020-01-07 09:44:30
Equinor promotes cutting emissions
[Offshore]
Equinor has recently launched new climate ambitions to reduce the absolute greenhouse gas emissions from its operated offshore fields and onshore plants in Norway with 40% by 2030, 70% by 2040 and to near zero by 2050. By 2030 this implies annual...
2020-01-07 09:41:13
TOP Ships sells tanker duo
[Shipping]
TOP Ships Inc., an international owner and operator of modern, fuel efficient "ECO" tanker vessels, announced on January 3 that it has sold to unaffiliated third parties its two MR1 Product Tankers, the M/T Eco Fleet and the M/T Eco Revolution (e...
2020-01-07 09:36:22
Subsea 7 executive teams changed
[General]
Subsea 7 has recently announced changes to the Executive Management Team, effective from 1 January, 2020. John Evans is now in place as Chief Executive Officer, succeeding Jean Cahuzac who retired at the end of 2019. Jean remains on the Board ...
2020-01-07 09:31:52
GMS secures two contracts
[Offshore]
GMS announced the award of two Contracts on January 3. Details are below: 1. A 7-month contract (firm period plus options to extend) for a K-Class (Small) vessel. GMS will provide support for offshore activities on behalf of ...
2020-01-07 09:28:02
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