COSCO Shipping International (Singapore) has decided to sell equity interest in its shipyard assets for a price of CNY 1.46 billion (USD 211.5 million) to COSCO Shipping Heavy Industry. In an effort to centralize operations and management, the company said it will dispose of a 51% equity interest in
Finland-based shipbuilder Meyer Turku has seen its net profit for 2016 reach EUR 25 million, jumping by some 66 percent from EUR 15 million reported in 2015, as the company witnessed “another profitable year.” The company’s revenue surged by 33 percent ending the year at EUR 792 million, compared to
South Korean shipbuilder Hyundai Heavy Industries has decided to shut down its Gunsan dockyard starting from July 1, 2017, the company said in a stock exchange announcement. The shipbuilder said that the yard would be temporarily closed due to a lack of shipbuilding orders. During the period, mainte
Subic-based Hanjin Heavy Industries & Construction – Philippines (HHIC-Phil) has recently inked a newbuilding contract for a pair of 114,000 dwt crude oil tankers amid signs of recovery in the global shipbuilding industries. Featuring 249,9 meters in length and 44 meters in breadth, the tankers woul
Twenty-one new ships were ordered on a global level during the month of April, according to a monthly market report released by Vessels Value. When compared to April 2016, newbuilding orders have decreased by 27.6 percent. Out of 21 orders placed in April 2017, five were for bulkers and sixteen for
South Korean shipbuilder Samsung Heavy Industries (SHI) has received an order for four more very large crude carriers (VLCCs), according to data provided by VesselsValue. This time the order was allegedly placed by Greece-based holding company Capital Maritime and Trading on May 3. The financial det
South Korean police officials have raided a number of Samsung Heavy Industries’ offices in the aftermath of a crane incident which caused the deaths of six workers at the shipyard’s Geoje facility on May 1, Yonhap News Agency cited relevant authorities. Up to 30 investigators were reportedly sent to
Classification society ABS has signed an agreement with South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) to support safety and apply class guidance to a conceptual floating liquefied natural gas (FLNG) unit. The project is planned to commence at the end of May and last for tw
US-based shipbuilder Philly Shipyard closed the first quarter of this year with a net income of USD 17.2 million, considerably higher from USD 1.9 million delivered in the same period of 2016. During 1Q 2017, the company’s operating revenues and other income were USD 167.8 million, up from USD 35.7
BW Group is behind the order for four crude carriers at South Korean shipbuilder Samsung Heavy Industries (SHI) that was revealed yesterday, the company’s spokesperson confirmed to World Maritime News. “BW Group has contracted 4 VLCCs at Samsung Heavy Industries with various options attached, includ
In today’s spotted, we bring you an image of Santos Express, a Neopanamax containership which was recently delivered to German shipping company Hapag-Lloyd from South Korean Hyundai Samho Heavy Industries shipyard. The 10,500 TEU boxship will soon be ready to ship cargo between Europe and South Amer
South Korea’s shipbuilder Samsung Heavy Industries (SHI) has received orders to construct four crude carriers, the company said in a stock exchange filing. Under the agreement, signed with an undisclosed Asian shipowner, the shipbuilder is expected to deliver the vessels by July 2019. Samsung Heavy
Another worker has lost his life in the aftermath of a crane collapse at South Korea’s shipyard Samsung Heavy Industries, pushing the death toll to six workers, Yonhap News Agency cited relevant authorities. Three workers reportedly sustained serious injuries while up to 19 workers sustained minor i
Korean shipping major Korea Line Corporation (KLC) has placed USD 487 million worth of orders for four bulk carriers and two liquefied natural gas (LNG) carriers. Namely, through its subsidiary Korea Shipping Corporation, KLC signed four bulker newbuilding contracts. The company is paying KRW 110.7
