South Korean shipbuilder Hyundai Heavy Industries (HHI) may be facing strike for the first time in two decades as unionized workers threat to stop production if the management doesn’t sort out wage and benefit issues. The talks between the two sides over pay increase broke off in September after fai
The United Arab Emirates-based superyacht manufacturer Gulf Craft is planning to invest USD 100 million over the next five years in a new shipyard for luxury yachts spanning over approximately 900,000 square feet within the Dubai Maritime City complex. Commenting on the announcement, Mohammed Hussei
The fourth and final 31,445GT Product Tanker Mutriba, built by Hyundai Mipo Dockyard Co., Ltd. (HMD) as part of a series of vessels being constructed for the Kuwait Oil Tanker Company S.A.K. (KOTC) was officially delivered to KOTC at a ceremony held in Kuwait on October 20, 2014. The Mutriba is the
Hyundai Heavy Industries Co., Ltd. (South Korea), has received an order for two newly built LNG tankers with an option for a third tanker from Hyproc, the marine transportation subsidiary of Algerian state-owned hydrocarbon company Sonatrach. The newly built LNG tankers will be of the 170,000 cubic
Helsinki-based Wärtsilä Corporation has a strong order intake in the third quarter of this year, according to its Interim report covering January-September 2014. Order intake increased 21% to EUR 1,309 million (1,086) in the third quarter, whereas net sales decreased 7% to EUR 1,117 million (1,199).
VT Halter Marine, Inc., a subsidiary of VT Systems, Inc., officially began construction on the first of two liquefied natural gas (LNG)-powered, combination container – Roll-On/Roll-Off (ConRo) ships for Crowley Maritime Corporation’s liner services group on Wednesday, October 22. VT Halter Marine a
China has secured top spot in construction of jack-up rigs by offering attractive financial packages to clients, data from UK-based research group Douglas-Westwood shows. The previous leader in the category, Singapore, was pushed to the second place with 33% share in global orderbook, 14 pct lower t
MOL Ferry has ordered two 200-metre-long, 14,000-gt eco ferries from Japan Marine United (JMU). Upon their delivery planned for 2017, the vessels will connect Japan’s islands of Honshu and Hokkaido through the Oarai-Tomakomai route. The vessels will be able to travel with speeds of up to 24 knots, a
BW Group organised a ship naming ceremony for the first two of ten medium range (MR) product tankers built by the SPP Shipyard in Korea. BW Egret and BW Falcon will join eight other MRs currently on water, and will trade in the spot market. On April 30, 2014, BW Group entered into an agreement to [&
The Lockheed Martin -led industry team launched the seventh Littoral Combat Ship (LCS), Detroit, into the Menominee River at the Marinette Marine Corporation (MMC) shipyard. Following christening and launch, Detroit will continue to undergo outfitting and testing before delivery to the Navy in 2015.
Keppel Corporation reported a net profit of S$414 million (USD 352.8 million) in the third quarter of 2014, down 9% year on year mainly due to lower profit contribution from its property division, the company said. In the first nine months of 2014, Keppel achieved a net profit of S$1,159 million, co
South Korean shipbuilding giant Hyundai Heavy Industries (HHI) has recorded 25.1 percent lower order intake for the first nine months of 2014 when compared to the same period last year. According to the company’s Interim Report on Business Performance, new orders rounded up at USD 16.3 billion, arou
Germany’s bulk transportation company Oldendorff Carriers has taken delivery of its first owned Capesize newbuilding. The 207,600 tdw Linda Oldendorff and Lavinia Oldendorff were both delivered on their contractual date of 30th September 2014 by Hyundai Heavy’s new Gunsan yard, the company said. MV
Singapore Exchange-listed Triyards Holdings Limited has reported a decrease of USD 3.8 million (11%) and USD 5.2 million (45%) in profit before tax for FY14 and 4Q14 respectively, compared to FY13 and 4Q13, attributing the drop to a slimmer revenue, increase in administrative expenses and financial
