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
Kvaerner ASA announced a record 1999 pre-tax loss, hit by restructuring costs and weak non-core operations, but forecast an upturn at its core businesses in 2000. London-based Kvaerner recorded a pre-tax loss of $667 million from $205.5 million a year earlier after a sweeping restructuring plan was launched in April, which aimed to sell off non-core activities. "We have all seen that the goal is within sight. It is far away but still in sight," Chief Executive Kjell Almskog said
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 Middle-East-focused marine logistics services provider Atlantic Navigation Holdings (Singapore) Limited has won long term charters for 10 OSVs with a combined value of around $236m from a Middle Eastern national oil company.
Hamburg Süd is the first container shipping lines to publish its Sustainability Report in accordance with the Global Reporting Initiative (GRI) G4 Standard Disclosures (Core). Entitled “Setting standards and acting sustainably”
France's CMA CGM, the world's third-largest container shipping firm, reported a first-quarter net loss on Friday and targeted $1 billion in cost cuts to keep operating margins positive during the current market downturn. Weak freight rates in the past year have left many lines operating
Marine electronics group Navico, a literal ‘house of brands’ for the recreational, sail, power and commercial marine markets, is making a strong push in the commercial sector with its Simrad brand. Armed with a stockpile of new technology and a global network of sales and support
Ideal Tech Labs has Entered Navis’ Development & Service Solutions Partner Program Ideal Tech Labs is an idea accelerator and technology partner for startups, mid-market and enterprise customers. Together with its global clients
According to a regulatory filing, Hyundai Heavy Industries (HHI) racked up 10.2728 trillion Korean won in sales for Q1 2016, a 7.8 percent decline from the previous quarter while operating income swung to a profit of 325.2 billion won, putting an end to a nine-quarter losing streak.
IE has repaired the deck of a Ueushuk Fisheries Ltd owned fixed gear vessel, the Atlantic Optimist. The existing steelwork on board the vessel was badly corroded, access tight and a crop-and-replace repair was an unattractive option.
The first shipment of a ‘core kit’ for Russia’s Yamal LNG project has set sail for northern Russia from the Chinese port of Qingdao. China's first batch of two air cooled condensing modules of LNG project are the biggest and heaviest kits being used for the project
NOL Group reported a first quarter 2016 net loss after tax of $105 million. Core EBIT (Earnings before Interest, Taxes and Non-Recurring Items) for the period was a loss of $84 million, while core EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) remained positive at $18
Moody's Investors Service, (Moody's) issued a press release affirming the B2 corporate family rating (CFR), B2-PD probability of default rating, and the B2 senior secured rating of Silk Bidco AS (Hurtigruten), the full owner of Norwegian cruise operator Hurtigruten ASA
South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder by revenue, will slash more jobs and sell non-core assets as part of efforts to cope with shrinking orders, it said on Monday. The South Korean government has urged ailing industries to speed up restructuring efforts
Cash-strapped South Korean shipbuilder Hanjin Heavy Industries & Construction (HHIC) has signed a memorandum of understanding (MOU) with its creditors to receive a KRW 120bn ($103m) cash injection, and will sell off property and businesses worth KRW 2tr ($1
Presenting its financial results for the first quarter ended 31 March 2016 today Vard Holdings Limited announced a net profit of NOK 43 million for the period, as compared to a loss of NOK 226 million a year back. Over the past quarter, VARD had focused on efforts to grow in new markets while
Danish wind farm developer DONG Energy, which analysts value as high as $13 billion, said on Thursday it plans to list its shares on the Copenhagen stock exchange this summer. Having built more than a quarter of the world's offshore wind farms
Wintershall Norge AS has awarded a four-year service contract to Halliburton Norge AS to support its Maria Projects in the Norwegian Sea. The contract is effective immediately and will be used for drilling-associated services on Wintershall’s Maria development in the