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
The Switch, a technology specialist of advanced drive trains, announced its acquisition of Wärtsilä’s marine drives business that encompasses specialized megawatt-class power drives targeting marine applications. The Yaskawa-backed investment gives The Switch a stronger foothold in
Navigating interesting times has the nation’s shipbuilding industry searching in unusual places. The answers could be blowing in the wind. Conducting commerce and forecasting the future for shipyards is akin to setting out in uncharted waters
Industry Stakeholder Chad Fuhrmann presents ‘an unprecedented opportunity’ as well as a viable option when it comes to finding replacement training vessels for future maritime officers … Efforts have been underway since 2014 to procure government funding for new
Glander International Bunkering, one of the industry’s oldest bunker trading and brokering firms, has announced that the group has merged with the Norwegian company Scandinavian Bunkering AS. Scandinavian Bunkering AS. was established in 1993 and as of September 26
16855 Northchase Drive Houston, TX 77060 Telephone: (281) 877-6774 E-mail: ABS-WorldHQ@eagle.org Website: www.eagle.org CEO/President: Christopher J. Wiernicki The Company: ABS, a leading provider of classification services to the global maritime industry
Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins. The company, which exports diesel and gasoline to markets in the southeastern Mediterranean and the Balkans
Whilst LNG has proven to be a viable option as a bunkering fuel for ships, there are still challenges to the pace of its development and demand for LNG as a fuel. One of the obstacles to the accelerated uptake is the uncertainty regarding its availability.
At the annual International Chamber of Shipping (ICS) Conference in London today (7 September) – in the presence of IMO Secretary-General, Kitack Lim – the new ICS Chairman, Esben Poulsson, suggested that the shipping industry must respond proactively to three major challenges:
Despite the continuing global shipping crisis, Becker Marine Systems, producer of high-performance rudders and energy-saving solutions in the field of maneuvering technology, said it is appearing at SMM 2016 with a good order situation, announcing it has secured an order to equip some of the
At the annual International Chamber of Shipping (ICS) Conference in London (September 7) – in the presence of IMO Secretary-General, Kitack Lim – the new ICS Chairman, Esben Poulsson, suggested that the shipping industry must respond proactively to three major challenges:
The Company: Viking Systems International is a worldwide leader in the advanced design, analysis and 3rd party verification of structures, focusing on the offshore oil and gas industry, commercial ship business, and the military and defense community
Since 2004, well construction costs in the UK Continental Shelf (UKCS) have doubled, directly impacting drilling activity which is currently at an all-time low. However, collective industry efforts are already focusing in on how a reduction in core drilling costs of 50 per cent could potentially
A consortium of technology suppliers led by BAE Systems is developing software that monitors the equipment, fuel and energy performance of a ship to provide real time information that will help the U.K. Royal Navy and commercial organizations better manage their fleets.
Matson, Inc. announced the issuance of $200 million in privately placed 15-year final maturity senior unsecured notes pursuant to a previously announced commitment letter on July 18, 2016. The notes will have a weighted average life of approximately 8.5 years and will bear interest at a rate of 3
Miller Electric Mfg. Co. is showcasing welding equipment technologies to enhance quality, productivity and cost savings in the shipbuilding industry during the International WorkBoat Show at the Morial Convention Center in New Orleans, November 30 to December 2