Werften takes over Neptun Ship Design [Shipbuilding]
German shipbuilder MV Werften has acquired the largest ship design company in its country Neptun Ship Design. Peter Fetten, Managing Director at MV Werften, said, "We welcome the acquisition and the new, experienced colleagues in our team." St...
2019-01-22 17:03:18
Reshuffle expected in China's state businesses [Finance]
The Chinese government is to carry out a large-scale reshuffle program including merger, strategic alliance and spin-off towards its compatriot state-owned companies. The State-owned Assets Supervision and Administration Commission of the Stat...
2019-01-22 15:56:24
Lamprell sees $71m loss last year [Finance]
Before releasing its 2018 business results on March 21, Lamprell, a manufacturer of onshore and offshore drilling production facilities, has recently announced that the company of the United Arab Emirates (UAE) is expected to post about $235m of ...
2019-01-22 15:26:36
China CSSC likely to turn to black [Finance]
China CSSC Holdings, a listed arm of China State Shipbuilding Corporation (CSSC), is likely to see a net profit of CNY $435m-525m level (preliminary figures) for 2018, after posting net losses of CNY 2.6bn in 2016 and CNY 2.3bn in 2017.  ...
2019-01-22 14:49:29
NES files for bankruptcy again [Finance]
After going bankrupt last August and being acquired by Rissa-based shipbuilder Fosen Yard, Nordseewerke Emden Shipyard (NES) filed for bankruptcy again. This is already fourth bankruptcy for the German shipbuilder over the past six years. &n...
2019-01-22 14:18:22
Oceaneering won multiple umbilical contracts [Offshore]
Oceaneering International, Inc. (NYSE:OII) announced it has recently secured three subsea umbilical contracts valued in excess of $80 million in total.  The contracts with major international operators are to supply developments in the Medit...
2019-01-22 11:29:53
MOL-Asahi to build new tanker pool [General]
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) announced that MOL and Asahi Tanker Co., Ltd. (President: Kazunori Nakai; Headquarters: Chiyoda-ku, Tokyo) have signed a contract to establish a pool operation company, Asahi M...
2019-01-22 11:01:27
Fincantieri won additional LCS [Shipbuilding]
Within the Littoral Combat Ship Program (LCS), the US Navy has awarded the consortium consisting of Fincantieri, through its subsidiary Fincantieri Marinette Marine (FMM), and Lockheed Martin Corporation, a contract to build an additional LCS. ...
2019-01-22 10:44:19
CNCo to acquire the bulk business of Hamburg Süd [Shipping]
Hamburg Süd and The China Navigation Company (CNCo), a subsidiary of the Swire Group, today announced an agreement for CNCo to acquire the bulk shipping business in Hamburg Süd which includes Rudolf A. Oetker (RAO), Furness Withy Chartering and...
2019-01-22 10:22:17
Deltamarin engages in Titanic II project [Shipbuilding]
Blue Star Line has contracted Deltamarin to continue with the design of Titanic II. The contract covers activities and tasks for the design process, consultancy and project management services. Deltamarin will provide Blue Star Line with outli...
2019-01-22 08:37:47
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