Fujian Crown plans to restructure
It emerged that China’s Fujian Crown Ocean Shipbuilding has seeking investors for restructuring after completion of its assets and debts. According to industry sources and foreign media, the executives of this shipyard plans to recruit at le...
Hempel builds new factory in Yantai Chemical Industrial Park
Global coatings manufacturer Hempel announced on May 18 that it has begun construction of a new factory in Yantai Chemical Industrial Park, China. The new factory will help meet increasing demand for more sustainable and innovative coating soluti...
LR signs agreement with Euronav
Lloyd's Register (LR) announced on May 14 that it has signed an agreement with Euronav to approve its Machinery Planned Maintenance and Condition Monitoring Scheme (MPMS(CM)) for 25 LR-classed vessels. This will be performed in accordance with LR...
ABS broadens its IHM survey as remote choices
ABS announced on May 14 that maritime’s most comprehensive suite of remote survey and audit options has just got even broader with ABS adding Inventory of Hazardous Materials (IHM) Survey as remote choices. Additionally, next week ABS will e...
ClassNK grants AiP to NYK Line
Tokyo – Leading Classification Society ClassNK announced on May 14 that it has granted an Approval in Principle (AiP) to Nippon Yusen Kabushiki Kaisha (hereinafter referred to as NYK Line) and MTI Co., Ltd. (hereinafter referred to as MTI) for ...
DSME’s net profit rose by 24% in 1Q
Daewoo Shipbuilding & Marine Engineering (DSME) announced on May 15 through a regulatory filing its performance in the first quarter. DSME's first quarter of earnings are KRW 1.958trn in sales, KRW 279bn in business profits and KRW 242.5bn...
TOP Ships acquired for $18 million
TOP Ships Inc. (the “Company”) (NASDAQ:TOPS) announced on May 8 that it acquired for $18 million from a company affiliated with the Company’s Chief Executive Officer, a 100% ownership interest in three Marshall Island companies that each ow...
Vard Marine Inc. informs change of CEO
Vard Marine Inc. announced on May 7 that Dave McMillan, the firm’s President and CEO, will retire on May 31st, 2020 to pursue another chapter in his career in the marine industry as a Marketing/Business Development consultant. The Board of Dire...
Foreship starts project Hygiea to keep Covdi19 off
Leading naval architecture and marine engineering firm Foreship announced on May 7 that it has devised an initiative to limit the presence and spread of coronavirus and other pathogens on passenger ships and get the cruise sector back up and runn...
Maersk Supply Service reduces its onshore costs
In response to the negative development in the oil and gas industry, Maersk Supply Service announced on May 6 that it will reduce its onshore costs by 30 percent. Approximately 55 people will be affected globally, with the majority being in the...
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