Search results for: Shipbuilding

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  • 7 June 2016
    Business & Finance

    South Korean shipbuilding company STX Offshore & Shipbuilding Co. has received approval to go into court receivership, the Korea Times reports citing a local court ruling from today. The cash-strapped shipbuilder filed for court receivership with the Seoul Central District Court, on Friday, May 27th. The filing came as creditors decided to end their years-long […]

  • 6 August 2014
    Business & Finance

    One of China’s top shipbuilders Yangzijiang Shipbuilding (YZJ) has recorded the strongest quarterly earnings of RMB 1.24 billion based on the shipbuilder’s latest results, up 52 % year on year.   Despite having 9 vessels delivered in 2Q 2014 compared to 11 vessels in 2Q 2013, the shipbuilding related segment’s revenue contribution only decreased slightly […]

  • 2 August 2016
    Business & Finance

    Seoul Central District Court launched the corporate turnaround process at the South Korean shipbuilder STX Offshore & Shipbuilding Co. on August 1, after the company filed for court receivership in May, 2016. The cash-strapped shipbuilder, which opted for the move after its creditors decided to end their years-long financial aid to the yard, is scheduled to file its rehabilitation programs in October. The debt-restructuring receivership […]

  • 18 August 2016
    Business & Finance

    Singapore-listed shipbuilder Yangzijiang Shipbuilding has been served with three more terminations for shipbuilding orders during the second quarter of 2016, the company said in a stock exchange filing. The orders that were cancelled were for one 10,000 TEU containership, and two bulk carriers with a capacity of 82,000 dwt and 64,000 dwt, respectively. However, this might not be the […]

  • 15 January 2018
    Business & Finance

    Japanese shipbuilder Imabari Shipbuilding Co is planning to buy its compatriot Minaminippon Shipbuilding Co.

  • 19 July 2013

    STX Dalian Shipbuilding Co. will not receive the much needed financial boost from the local government, SinoShip News informs quoting governmental authorities. The restructuring plan of the shipyard remains uncertain since the launching of negotiations between STX Dalian Shipyard’s parent company STX Offshore & Shipbuilding and Dalian municipal government and creditor banks. Rumor has it […]

  • 13 September 2010

    Subsidiaries of the troubled Vietnamese state shipbuilder Vinashin on Monday denied local press reports that they were seeking to exit the company. But workers at some subsidiaries said they had suffered layoffs and salary delays because of the conglomerate’s financial problems and a government reorganization.

  • 7 January 2013

    The Philippine Government is offering tax benefits and  duty free importation of capital equipment for investors in its shipbuilding sector, which is one of its preferred industry branches under the Investment Priorities Plan (IPP). As a result, the Philippine department of trade and industry (DTI) has  identified nine Japanese shipbuilders as potential source of funding […]

  • 11 September 2013

    French shipbuilder Constructions Mécaniques de Normandie (CMN) and the Mozambican government have entered into a major shipbuilding deal for the construction of 30 ships, announced on Friday the owner of CMN Iskandar Safa. Under the contract, the shipyard will build 24 trawls, three 32-metre patrol ships and another three 42-metre ships. The new vessels order […]

  • 31 March 2017
    Business & Finance

    Japanese shipbuilding company Mitsubishi Heavy Industries (MHI) has reached an agreement in principle with its compatriot counterparts Imabari Shipbuilding and Namura Shipbuilding related to the ongoing discussions focused on forming alliances in the commercial ship business. Discussions toward concluding a similar alliance with Oshima Shipbuilding continue, MHI said. MHI unveiled plans in late-August 2016 to launch […]

  • 11 October 2018
    Business & Finance

    Mitsui E&S Shipbuilding Co., Yangzijiang Shipbuilding and Mitsui & Co. to establish a joint venture.

  • 14 September 2011

    Shelburne is back in ship shape, busy repairing ships again, thanks to the province’s $8.8-million investment in Irving Shipbuilding’s Shelburne Ship Repair. “Shipbuilding is in our blood in Nova Scotia. The province believes in the people of Shelburne and the future of shipbuilding in Nova Scotia,” said Premier Darrell Dexter. “This investment is Nova Scotia’s […]

  • 25 June 2015
    Business & Finance

    The newbuilding price index has been in decline since June 2014, and the trend is likely to continue until next year, the South Korean daily Business Korea quoted US investment firm Morgan Stanley as saying.  The newbuilding price index peaked at 140 in June last year, before steadily sliding and reaching 132 as of June 19 this year. […]

  • 21 May 2014
    Business & Finance

    DHT Holdings, Inc. announced today that it has entered into firm commitments for the debt financing of four of its new buildings ordered at Hyundai Heavy Industries. The financing equals about 50% of the contract prices with an average margin above Libor of 2.5%. Assuming a Libor of 0.25% the average total debt service (interest […]

  • 10 September 2013

    French shipbuilder Constructions Mécaniques de Normandie (CMN) and the Mozambican government have entered into a major shipbuilding deal for the construction of 30 ships, announced on Friday the owner of CMN Iskandar Safa. Under the contract, the shipyard will build 24 trawls, three 32-metre patrol ships and another three 42-metre ships. The new vessels order […]

  • 24 December 2015
    Business & Finance

    Certain creditors of the South Korean shipbuilder STX Offshore & Shipbuilding Co. voiced their disapproval of a financial aid package to the troubled shipbuilder worth KRW 450 billion (USD 385 million), Yonhap news agency reports. As informed, Woori Bank and KEB Hana Bank, who hold 10 percent stake in the yard, do not want to back the bailout plan amid […]

  • 12 July 2011

      Huntington Ingalls Industries held a graduation ceremony for graduates of Ingalls Shipbuilding’s Apprentice School on Saturday, July 9. The ceremony, held at the Mississippi Coast Coliseum and Convention Center in Biloxi, included 162 students from 13 different crafts representing shipbuilders from Ingalls’ Pascagoula, Gulfport and Avondale sites. Rear Adm. David H. Lewis, the U.S. […]

  • 18 February 2007

    Building ships has ranked for years as one of the more dangerous industrial jobs. The job is still hazardous, but it’s getting safer. During the past 14 years, the shipbuilding and ship repair industry has seen its rate of recordable injuries and illnesses – cases that require medical care beyond first aid – fall sharply.

  • 2 February 2011

    The ES Group is one of the latest Singapore firms to ride on the surging ship-building industry in Asia. Run by brothers Ken and Christopher Low, ES Group is a medium-sized company and employs 1,200 people. The firm builds and repairs vessels such as tugs, barges, offshore support vessels, parts of offshore rigs, and cargo […]

  • 23 October 2015
    Business & Finance, Equipment, Exploration & Production

    China’s Dalian Shipbuilding Industry Offshore Co., Ltd has awarded the Netherlands-headquartered AEG Power Solutions (AEG PS), a contract to secure its BT-4000 semi-submersible platform power supply with a customized solution based on AEG PS Protect 8 industrial UPS. According to AEG PS’ press release from Thursday, the newbuild BT-4000 drilling rig is intended to serve in Santos basin, […]

  • 30 March 2020
    Business & Finance

    Imabari Shipbuilding and Japan Marine United Corporation agree to form a joint venture.

  • 1 February 2018
    Business & Finance

    Tsuneishi Shipbuilding and Mitsui Engineering and Shipbuilding to make a business alliance.