Daewoo Shipbuilding & Marine Engineering Co. (DSME) has signed a business agreement with the Iranian government on operation and technology instruction for Iranian state-run shipbuilder Iran Shipbuilding & Offshore Industries Complex Co. (ISOICO), reports the Pulse. Under the agreement, the South Korea’s shipbuilder will transfer technology and conduct consignment management on the Iranian shipbuilder. The deal is expected to help DSME and other domestic shipbuilders win orders from refiners and other companies in Iran. ISOICO is currently capable of constructing up to four 80,000-dwt vessels per year and is able to build bulk carriers, containerships and product tankers, but has ambitions to build larger and more sophisticated vessels. Iran has been seeking to cooperate with Korean shipbuilders to modernize its aging dockyards. The Iranian government wanted to acquire technology of Korea to develop the shipbuilding industry and the government reached an agreement with the Korean shipbuilder on the partnership, according to sources in Iran. According to DSME officials, the Industrial Development and Renovation Organization of Iran (IDRO), the state-run organization in charge of the nation's strategic industries such as automobiles and shipbuilding, is seeking to form a partnership with the Korean shipbuilder.
Ishikawajima-Harima Heavy Industries Co. Ltd (IHI) has signed an agreement with Dassault Systemes and IBM Product Lifecycle Management around 3D PLM (Product Lifecycle Management) for shipbuilding. 3D PLM solutions based on V5 architecture developed by Dassault Systemes and marketed by IBM world wide, are setting future industry standards which help shipbuilding companies reduce the development time as well as further improve their products
According to a report from the VietnamNet Bridge, Deputy Prime Minister Nguyen Sinh Hung said a new Vietnam Shipbuilding Industry Group, Vinashin, will be unveiled this month or early November. The new shipbuilding group will focus on its core business, which are shipbuilding and repairing; supporting industries for shipbuilding; and providing training courses in the field. (Source: VietnamNet Bridge)
Voith Group reports on financial results at end of fiscal year year 2012 (ending September 30, 2012). Report highlights: • Third best operational result in company history despite difficult business environment at Voith Paper • Sales rise by 2 percent to EUR 5.7 billion • As expected, orders received below record value of the previous year • Important orders in America
Dun & Bradstreet, the world's leading source of commercial information and insight on businesses, today reported results for the third quarter ended September 30, 2014. "We continue to make good progress against our strategy and we are beginning to build momentum on our top line," said Bob Carrigan, President & CEO of Dun & Bradstreet. "There are ever more market signals indicating growing demand for actionable data and insights and we are well positioned
The wider scientific community is set to benefit from offshore wind developer Forewind’s years of surveys and research, as the organization donates all the core samples collected on Dogger Bank to a national science facility Monday, June 8, 2015. The core samples, cylindrical soil sections extracted from the seabed, will be entrusted to the National Geological Repository (NGR), located at the British Geological Survey headquarters in Nottinghamshire, for use by anyone with an interest
PANAMA CITY, Panama, March 16, 2011 – Recognized internationally for its innovative work and ethical business practices, the Panama Canal Authority (ACP) has been recognized by the Ethisphere Institute as one of the 2011 World’s Most Ethical Companies. According to the Ethisphere Institute, the ACP secured a spot on the list from a record number of nominations by “going the extra mile and implementing upright business practices and initiatives that are instrumental to
The National Shipbuilding Research Program (NSRP) Executive Control Board selected 17 new research and development projects for award as part of the NSRP’s core mission to reduce the costs associated with Navy shipbuilding and repair. The projects, totaling approximately $2.5 million, will be executed through the 10 NSRP Ship Production Panels, which serve as the program’s primary public forum for industry-wide networking, technology transfer and best-practice sharing.
China Huarong Energy Co, formerly known as China Rongsheng Heavy Industries, said in a regulatory filing that a memorandum of understanding on the disposal of assets to an unnamed buyer has expired. Huarong announced in March a potential sale of its core shipbuilding and engineering business, subject to formal agreement. Huarong Energy signed the MOU with the potential buyer in April for the sale of its shipbuilding assets as part of its restructuring process.
The lead creditors of two of South Korea's biggest shipbuilders have provisionally approved plans by Hyundai Heavy Industries and Samsung Heavy Industries to raise up to $4.2 billion in asset sales and cost cuts, people with knowledge of the plans said on Wednesday. The fund-raising moves come as a downturn in the global shipbuilding industry, depressed by a drop in orders from the oil industry because of lower crude prices, push the firms into heavy losses
ABS Chairman, President and CEO Christopher J. Wiernicki addressed attendees at the dedication ceremony for the new ABS Engineering Center at Stevens Institute of Technology on 17 November 2016, encouraging students to use these facilities to work toward solving industry challenges.
Subsea Industries has strengthened its presence in the U.K.’s maritime and renewable energy sectors with opening up of a dedicated marine and offshore coatings office in the U.K. and the appointment of coatings specialist Mark Woods as its U.K.-based technical representative.
Despite the numerous challenges facing today’s maritime sector, there are still opportunities to be found. After all, the world is constantly changing and it is those companies who are able to adapt and move with the markets that will experience long-term success
The NYK-TDG Maritime Academy (NTMA), which is located in the suburbs of Manila and jointly run by NYK and the Transnational Diversified Group (TDG), proudly graduated the 117 students comprising the academy’s Class of 2016.
With the sale of the kamsarmax vessel MV Bavang to Asian interests Klaveness has exited the dry bulk shipping business. Klaveness took delivery of the vessel from the yard in February 2016 and it was one out of an eight order deal made in 2013/2014.
Finland based drive train technology specialist The Switch said it has closed a deal on October 31 to purchase Wärtsilä’s Norway-based marine power drives product range for megawatt-class applications. Backed by Yaskawa, this acquisition aims to provide a platform for the
Huntington Ingalls Industries (HII) said it plans to establish a permanent presence in Australia by opening an office in Canberra. “Establishing a permanent presence in Australia demonstrates HII’s commitment to supporting Australia and the U.S
The commercial short sea bulk activities of traditionally shortsea ship owners Carisbrooke Shipping Ltd and Nova Marine Carriers SA will be expanded and consolidated effective January 1, 2017. Notwithstanding both groups’ commercial networking offices
Bank of Ireland said it is winding down its shipping business, joining other banks looking to cut non-core lending and exposure to an industry suffering its worst downturn. Many European banks are already bogged down by a sluggish economy and face tough capital demands from regulators
Offshore energy support vessel operator, Seacat Services, is preparing to launch its first High Speed Utility Vessel (HSUV), Seacat Enterprise. The 27m South Boats IoW catamaran is a new category of vessel for the offshore wind market, designed to provide both rapid crew transfer and wide-ranging
The Belgian dredging, environmental and marine engineering group DEME and COSCO Shipping - the largest shipping company in the world - will work closely on the development of offshore wind energy in China. The umbrella agreement was signed today in the presence of Belgian
Shipbuilder to be split into four companies; spinoff is part of restructuring plan submitted to creditors. South Korea's Hyundai Heavy Industries is being split into four companies, with its non-shipbuilding businesses being spun off to improve management efficiency and competitiveness
Durability field-test results of ABB’s variable valve train system, Valve Control Management (VCM), have shown unprecedented success of the technology on an MTU high speed gas engine. The successful running of each VCM actuator for 7
Great Lakes Dredge & Dock Corporation, the largest provider of dredging services in the U.S. and a major provider of remediation and geotechnical services, announced the completion of the sale of assets associated with the service lines of the Terra Contracting Services, LLC business for $6
Maritime and logistics service provider Inchcape Shipping Services (ISS) has officially opened its new head office in London. Based in Fenchurch Street in the heart of the City, the new office for ISS’ leadership team has been opened to bring it closer to key customers’