ISHIKAWAJIMA-HARIMA HEAVY INDUSTRIES
Three Japanese shipbuilders are expected by the end of the week to sign an agreement to integrate their operations, Reuters reported. According to the report, Kawasaki Heavy Industries Ltd., Ishikawajima-Harima Heavy Industries Co., (IHI) and Mitsui Engineering & Shipbuilding Co Ltd. are set to integrate operations in the general commercial vessel market. The combined annual revenue of the their ship businesses in fiscal 1999 totaled 308.5 billion yen, surpassing the 268.9 billion yen earned by leading Japanese shipbuilder, Mitsubishi Heavy Industries Ltd.
The $665m EPC-LNG contract was awarded to the joint venture (50/50) between Aker Solutions (formerly Aker Kvaerner) and IHI, Inc. (formerly Ishikawajima-Harima Heavy Industries) and announced in a stock exchange release 19 July 2006, pending the issue of a Full Notice to Proceed from Ingleside Energy Corporation. Not having received such a Notice to Proceed effects Aker Solutions' backlog by USD 330 million. As a result
According to a report from the Kyodo News Service, eight shipbuilders were warned by the government's competition policy watchdog over alleged bid rigging on defense contracts. The Fair Trade Commission (FTC) said it issued the warning over what it deems were acts to unfairly restrict competition for contracts from the Maritime Self-Defense Force (MSDF) concerning the force's fleet between fiscal 1996 and fiscal 1999.
Three major Japanese shipbuilders are forming an alliance on commercial vessels and ocean engineering to survive competition with South Korean shipyards. The three firms -- Ishikawajima-Harima Heavy Industries, Kawasaki Heavy Industries Ltd and Mitsui Engineering & Shipbuilding Co Ltd will cooperate on joint procurement of materials and design skills for building commercial vessels, aiming to cut production costs. They will decide in one or two years whether to spin off their divisions for
Thailand’s Unithai Shipyard & Engineering currently has four vessels undergoing repair - Technomar Shipping’s 33,185 dwt containership Kota Perwira, Ahrenkiel Shipmanagement’s 26,140 dwt bulk carrier Caria, the Almog, a general cargo vessel owned by Dynamic Shipping Services, and the Spar Cetus, a 45,146 dwt bulk carrier from Fleet Management. Unithai Shipyard has another four vessels scheduled to arrive throughout this month (May) - the Stolt Alliance, a 12
According to reports, South Korea fell behind China and Japan in the number of shipyards ranking in the world's top 50 in terms of order backlogs as of the end of May, although seven South Korean companies were No 1 through No 7, a London-based market research firm said. Fifteen Japanese shipyards and the same number of Chinese companies were included in the world's top 50 list, while only nine South Korean shipyards made it, Clarkson Plc. said.
Kawasaki Heavy Industries is said to be considering integrating its shipbuilding business with those of Ishikawajima-Harima Heavy Industries Co. (IHI) and Mitsui Engineering & Shipbuilding Co. A spokesman for Kawasaki Heavy, Japan's second-largest heavy machinery and shipbuilding firm, said it sees such consolidation as one option but no accord has been reached. Business daily Nihon Keizai Shimbun reported on Wednesday that IHI and Kawasaki Heavy had reached a basic agreement to merge their
For the year 2000, Wärtsilä Corporation reports that 24 Sulzer RTA84T low-speed diesel engines with an aggregate power output of 713.4 MW (970,800 bhp) have been ordered for installation in very large tankers contracted at shipyards in China, Japan and South Korea. The engines will all be built by licensees of Wärtsilä in Japan and Korea. Altogether there are now 78 Sulzer RTA84T engines (including the -B and -D versions) delivered or on order, with a combined output of 2171.9 MW (2
The splitting of Daewoo Heavy Industries Co., the shipbuilding and machinery unit of South Korea's ailing Daewoo Group, into three firms should boost shareholder value, analysts said. A shareholders meeting earlier in the week approved a plan to split the company into Daewoo Shipbuilding and Marine Engineering Co., machinery maker Daewoo Heavy Industries and Machinery Ltd., with Daewoo Heavy Industries Co. taking the remaining operations
Hyundai Heavy Industries plans to establish a new ship design subsidiary early next year by expanding its Mipo Engineering Co, reports Yonhap News Agency. Hyundai Heavy Industries plans to establish a new ship design subsidiary early next year by expanding its Mipo Engineering Co, reports Yonhap. Growing demands for high-end ships such as drill ships and offshore plants prodded Hyundai Heavy to set up the new company, the shipbuilder informed Yonhap.
The United Nations' shipping agency on Thursday set global regulations to limit the amount of sulphur emissions from vessels which will come into force from 2020. A session of the International Maritime Organization's Marine Environment Protection Committee in London set the new regulations
Nordic American Tankers Limited (NAT) said it has entered into agreements with Korean shipyard Samsung Heavy Industries Co., Ltd. for the construction of three Suezmax tankers of about 157,000 deadweight tons each to be delivered during the second half of 2018.
In a ceremony held in Geoje (South Korea), Indian's largest private sector company Reliance Industries Limited (Reliance) inaugurated its very first two VLEC (Very Large Ethane Carrier), in the presence of the shipyard Samsung Heavy Industries (SHI) and other key partners of the project
South Korean shipyard Hyundai Heavy Industries emerged from the third quarter with a black bottom line, although with a smaller profit than in the previous quarter, thanks in part to reduced costs and improvement in its non-shipbuilding business.
Caterpillar Inc insider Jim Umpleby will become chief executive of the heavy equipment maker on Jan. 1, faced with the challenge of reversing a multiyear sales decline triggered by the global commodities slump. He replaces Doug Oberhelman, who will retire as CEO on Dec
Ulstein Design & Solutions B.V. (part of Ulstein Group) and SeaOwls B.V. are partnering to combine the former’s track record in heavy lift vessel design with the latter’s experience in jack-up technology and engineering to jointly develop the next generation self-propelled heavy
Hyundai Heavy Industries (HHI) has signed a contract to build two 2,600 ton frigates with the Department of National Defense, Republic of the Philippines. The frigates, scheduled to be delivered from 2020, will be a smaller light combatant and successor to the Incheon class frigate now in
Classification society ClassNK has issued Approval in Principle (AIP) for a 7,500 cbm LNG bunkering vessel designed by Hanjin Heavy Industries & Construction Co., Ltd. This design is the result of joint research carried out by Hanjin Heavy Industries & Construction Co., Ltd
The value of contracts signed by Korea's big-three shipbuilders— Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering, and Samsung Heavy Industries — fell far behind the amount they projected for this year, reports The Korea Herald.
CMA CGM and ENGIE signed a Memorandum of Understanding to promote LNG as the marine fuel for tomorrow’s container vessels. Farid Salem, Executive Officer of the CMA CGM Group, and Isabelle Kocher, CEO of ENGIE, signed the agreement today at the Marseille headquarters of CMA CGM.
Ahead of the 70th Session of the IMO’s Marine Environment Protection Committee (MEPC), the cross-industry coalition 'SEA\LNG' has highlighted the ability of the liquefied natural gas (LNG) sector to meet the future emissions requirements of the global shipping industry.
Euronav NV said it has agreed with Hyundai Heavy Industries (HHI) shipyard in South Korea to defer the delivery of the two VLCC ex-yard resale vessels it recently purchased to the first quarter of 2017. The vessels, previously expected to be delivered between October and
MacGregor has won Pusnes deck machinery orders for a new series of 400,000 dwt very large ore carriers (VLOCs) under construction at Chinese shipyard, Qingdao Beihai Shipbuilding Heavy Industries. The orders are booked in Cargotec's 2016 third quarter order intake.
The report by Global consulting company McKinsey & Company that Daewoo Shipbuilding & Marine Engineering (DSME) is least likely to survive among the big three shipbuilding companies has brought about strong opposition from DSME.
A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion, two people with direct knowledge of the matter told Reuters.