Search results for: heavy

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  • 8 May 2015
    Business & Finance

    Japan’s Mitsubishi Heavy Industries (MHI) recorded a 31.2% dip in net profit for the fiscal year ended March 31, 2015, despite a notable increase in the received orders and net sales, according to the company’s consolidated financial results for the FY 2014. MHI ended FY 2014 with a JPY 110.4 billion (USD 920.4 million) net profit, JPY 50 […]

  • 29 January 2015
    Business & Finance

    South Korean shipbuilder Samsung Heavy Industries (SHI) saw its revenue plummet in 2014, reaching KRW 12.8 trillion, around KRW 2 trillion lower when compared to 2013 figures. The company’s operating profit plunged from KRW 914.2 billion in 2013 to KRW 183 billion in 2014, according to the company’s unaudited preliminary results. SHI’s net profit saw […]

  • 29 September 2014
    Business & Finance

    Mitsubishi Heavy Industries, Ltd. (MHI) has received an order from Astomos Energy Corporation for a very large liquefied petroleum gas (LPG) carrier. The LPG carrier on order is identical to vessels ordered from MHI by Astomos Energy late in 2013, and again in spring 2014. The carrier will offer flexibility to accommodate major LPG terminals around the globe, […]

  • 25 November 2015
    Business & Finance

    All the Chief Executive Officers (CEOs) of the South Korean shipbuilding giant Hyundai Heavy Industries (HHI) will forego their salaries as part of cost cutting measures aimed at restructuring the group and returning back to profit. The measure will include returning of up to 50 percent of directors’ salaries and around 10 percent from department heads, the Korea Times […]

  • 23 November 2016
    Business & Finance

    The labor union of South Korea’s shipbuilder Hyundai Heavy Industries (HHI) said that it would launch an industrial action as a response to the company’s plans to split its businesses, according to Yonhap News Agency. The union claims that the latest development in HHI’s plans to reorganize its businesses into six separate companies next year would lead to a […]

  • 25 January 2016
    Business & Finance

    Busan-based shipbuilder Hanjin Heavy Industries and Construction (HHIC) is in line to receive an emergency financial boost of USD 109 million from its creditors, led by Korea Development Bank, according to the Korea Economic Daily. The restructuring shipyard has agreed that it will hand over some of its assets, which include the building and land of the East Seoul […]

  • 26 October 2015
    Business & Finance

    Korea-listed shipbuilding major Samsung Heavy Industries (SHI) reported a net profit of KRW 51 billion (USD 45 million) for the third quarter of 2015. According to Bloomberg, Samsung Heavy’s net income more than doubled analysts’ estimates. As reported, SHI’s profit was also attributed to a payment from an undisclosed client who requested changes in an offshore project in […]

  • 26 October 2015
    Business & Finance

    Korea-listed shipbuilding major Samsung Heavy Industries (SHI) reported a net profit of KRW 51 billion (USD 45 million) for the third quarter of 2015. According to Bloomberg, Samsung Heavy’s net income more than doubled analysts’ estimates. As reported, SHI’s profit was also attributed to a payment from an undisclosed client who requested changes in an offshore project in […]

  • 30 December 2014
    Business & Finance

    Russian Maritime Register of Shipping (RS) has signed an agreement with the South Korean yard Samsung Heavy Industries on design approval and survey under construction of a new series of 42 000 dwt Arctic shuttle oil carriers. The new tankers are designed to complete a set of tasks of hydrocarbons transportation from Novoportovskoye field, which […]

  • 11 September 2017

    The American Bureau of Shipping has granted approval in principle to Hyundai Heavy Industries floating liquefied natural gas (FLNG) hull design. ABS and the South Korean shipbuilding giant collaborated with the objective of developing a technically feasible and class compliant FLNG hull design, using the latest industry trends while maintaining high safety standards, the duo […]

  • 9 May 2016
    Business & Finance

    Japan’s Mitsubishi Heavy Industries, Ltd. (MHI) today reported a plunge of 42.2 percent in its net profit for the fiscal year ended March 31, 2016, despite an increase in received orders and operating income. Namely, the company ended FY 2015 with a net profit of JPY 63.8 billion (USD 591.1 million), against JPY 110.4 seen in the previous fiscal year. […]

  • 17 May 2017

    A fire reportedly broke out on Wednesday at Samsung Heavy’s shipyard in Geoje, South Korea. According to a Wednesday report by Yonhap, a South Korean news agency, the blaze started from a cooling installation at 10:07 a.m. and was extinguished around 10:30 a.m. No casualties were reported. The news agency further reported that the Ministry of Employment […]

  • 7 November 2017
    Business & Finance

    South Korean shipbuilder Samsung Heavy Industries saw its earnings drop in the third quarter of 2017, mainly due to deliveries of low-priced vessels and a decrease in orders. The shipbuilder’s net income for the three-month period ended September 30 plunged by 82 percent to KRW 23.4 billion (USD 21 million) from KRW 128.6 billion (USD […]

  • 3 June 2016
    Business & Finance

    South Korean shipbuilder Hyundai Heavy Industries (HHI) seems to be on the road of recovery since it has been linked to up to orders for four newbuilds. Namely, Arab Maritime Petroleum Transport Company (AMPTC) has placed an order at the shipbuilder for two 158,000 DWT Long Range 3 tankers priced at USD 70 million each, according […]

  • 3 June 2013

    Jiangsu Hongqiang Marine Heavy Industry and German owner Krey Schiffahrts GmbH have entered into a shipbuilding contract for the construction of four 12,500dwt multi-purpose heavy lift vessels. The vessels, to be classed by GL, will have a length of 144.70 m, width of 22.80 m, depth of 11.30 m and 7.50 m of design draft. Construction […]

  • 12 April 2016
    Infrastructure

    ABS, a provider of classification and technical services to the global offshore industry, has granted approval in principle (AIP) to a Hyundai Heavy Industries (HHI) floating liquefied natural gas (FLNG) hull design. Specifically conceptualized for near-shore operations, the vessel was designed with a length of 1,050 ft (320 m), a breadth of 197 ft (60 […]

  • 12 October 2016
    Business & Finance

    South Korea’s shipbuilder Samsung Heavy Industries (SHI) has ordered Mark V technology to be installed aboard a new liquefied natural gas (LNG) carrier. French marine engineering company Gaztransport et Technigaz SA (GTT) was awarded the Mark V contract for the LNG carrier, which is scheduled to join its owner in 2019. Ordered by a European shipowner, the vessel […]

  • 2 April 2015
    Business & Finance

    A newly-established heavy-lift shipping and project transportation company named United Heavy Lift has entered the maritime market aiming to tap into the growing demand for heavy-lift transport. The company was founded in February 2015 by Lars Rolner, who previously held various executive positions in the heavy lift industry for over 30 years, and has officially been launched […]

  • 29 December 2005

    A large engine made by Hyundai Heavy Industries Co. for a 4,000 TEU container vessel goes into test operation yesterday at the company’s Ulsan plant. Commanding 35 percent of the heavy-duty engine market worldwide

  • 10 January 2019
    Business & Finance

    Samsung Heavy Industries has set sights on achieving USD 7.8 billion worth orderbook in 2019.

  • 9 January 2018
    Business & Finance, Rules & Regulation

    Hyundai Heavy has received an Approval in Principle (AIP) for its FPSO hull design from ABS.

  • 30 January 2013
    Business & Finance

    The maritime engineering specialist [email protected] has just presented the prototype draft for a heavy goods transporter offering highly flexible application options. With its heavy lifter HLV1600, which as a so-called multipurpose vessel can transport extremely large size part loads and bulk goods with equal ease, the engineering company is presenting its second high-quality basic design […]