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OFFSHORE SHIPBUILDING

Korea's STX Offshore Wins Patrol Ship Order

STX Offshore wins US$ 132-million order for 3 patrol ships for the Korea Coast Guard. Under the deal with the Korea Coast Guard (KCG), STX Offshore will deliver the vessels by the end of 2015, the company told Korea Times.

 The vessels, equipped with a Vulcan cannon, can cruise at an average speed of 30 knots. STX Offshore & Shipbuilding Co., the nation's fourth-largest shipbuilder, also delivered similar patrol ships to the KCG in 2010 and 2011.


STX Offshore Wins $388M Order for 8 Tankers

Reuters - South Korea's STX Offshore & Shipbuilding Co Ltd said on Monday it won a 413.8-billion won ($387.63 million) order to build eight tankers from from Navig8 Product Tankers Inc. The South Korean shipbuilder said in a statement the contract includes an option for four more tankers, which would take the total order amount to about 620 billion won. The contract for the initial eight tankers is expected to be completed by June 2016. ($1=1,067.5000 Korean won)


BP Shipping Charters Extended

Capital Product Partners L.P. (Nasdaq: CPLP) announced the extension of the charters of both the M/T Agamemnon II and the M/T Ayrton II to BP Shipping.  The M/T Agamemnon II (2008 STX Offshore & Shipbuilding Co., 51,238 dwt) was fixed to BP  Shipping at a daily charter rate of $14,000 net for 12 months (+/- 1 month) and the charter is subject  to a profit sharing arrangement which allows each party to share, at a 50/50 percentage


Russian LNG Carrier Launched

LNG carrier Velikiy Novgorod: Photo credit SCF

Sovcomflot’s new state-of-the-art LNG carrier 'Velikiy Novgorod' launched from STX Offshore & Shipbuilding shipyard. The Velikiy Novgorod was ordered by OAO Sovcomflot for operations under a long-term agreement with Gazprom Global LNG (part of Gazprom) as the first of two vessels ordered by SCF from STX Offshore & Shipbuilding Co. Ltd and her construction is scheduled to be completed in December, 2013


Jaya Delivers with Pride

Jaya Pride

Jaya Holdings Limited, operators of a Singapore offshore shipbuilding yard, has delivered a new state-of-the-art multi-purpose offshore support vessel Jaya Pride. “Jaya Pride is one of the most sophisticated vessels produced by Jaya’s Batam shipyard,” said Chief Executive Officer Venkatraman Sheshashayee, “a highly versatile DP2 workboat for offshore platform maintenance, one we have already fixed on a time charter with a key customer.”


Kongsberg Wins Drilling Rig Contracts in China and Korea

CIMC Yantai Raffles in China and STX Offshore & Shipbuilding in Korea have selected extensive Dynamic Positioning (DP), Automation, new generation Safety System, Integrated Navigation, Hydroacoustic positioning and latest riser management solutions from Kongsberg. The contracts are for two new Frigstad D90 Design drilling rigs and one Bassoe Technology BT-UDS Design drillship. The total value of the contracts is in excess of MNOK 150


Gaoh Offshore, STX to Develop Wind Farm Vessel

Gaoh Offshore’s Deepwater Installer. Image courtesy Gaoh Offshore

UK Wind Energy Services company, Gaoh Offshore announced the signing of a Letter of Intent covering the design development and construction of their multi-purpose wind farm development vessel, the Deepwater Installer. Gaoh Offshore and STX Offshore & Shipbuilding Co., Ltd. (STX O&S) signed the Letter of Intent [LOI] at the end of 2010 and board approval was given last month. The LOI is for construction at the STX Dalian Shipbuilding Complex in China after a period of joint further


Maxim Evaporators signs Distributor Agreement with Green Marine

Company officials announced that Maxim Evaporators has signed a distributor agreement with Green Marine & Industrial Equipment Co. for the U.S. Gulf Coast market.   Green Marine was founded in 1961 and today is a well diversified sales and service organization. Green Marine serves clients in Marine, Offshore & Shipbuilding Industries. Green Marine is strategically located in the center of the Gulf of Mexico region with offices in New Orleans and Houston


Alterna Product Tankship Purchases Financed by CIT

Svein Engh: Photo credit CIT

CIT provides $61.8-million financing to Alterna Capital Partners’ Portfolio Company to acquire three ‘ECO-Design’ product tankers. CIT Maritime Finance provided a $61.8 million senior secured credit facility to a portfolio company of Alterna Capital Partners, a private equity firm based in Wilton, CT, to finance the acquisition of three 50,000 DWT ECO-design Medium Range (MR) IMO II/III product/chemical tankers from STX Offshore & Shipbuilding Co., Ltd.


Week's Ocean-Going Shipbuilding Orders Sparse

Bow shot: File photo

Despite some media reports of more significant ordering, there is only one firm shipbuilding order to report in the drybulk sector, according to the latest Clarkson Hellas S&P Weekly Bulletin, as follows: Dry bulk carriers COSCO Zhoushan have announced a contract for two 64,000 dwt Ultramax with deliveries in the fourth quarter of 2016 and the first quarter of 2017 respectively. It is understood that these are the options declared by clients of Hong Kong owner KC Maritime who had


Daewoo Shipbuilding to Restructure Following Dramatic Q2 Loss

Firm to sell non-core assets, exit from non-essential businesses; Daewoo reported $2.6 bln operating loss in Q2. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd said on Monday it would sell non-core assets, and shut down or exit non-essential units as part of restructuring


Daewoo Shipyard to Sell Assets

Image: Daewoo Shipbuilding & Marine Engineering Co

 South Korea's No. 2 shipbuilder Daewoo Shipbuilding & Marine Engineering Co., will push for restructuring moves, including asset sales and a reduction in the number of executives, as it reels from massive losses, reports Yonhap.  


Damen Delivers Twin ‘Axe Bow’

FCS 2610 Merel-G WEB.jpg

Damen Shipyards Group operates 32 shipbuilding and repair yards, employing 9,000 people worldwide. This ubiquitous name in global shipbuilding has delivered more than 5,000 vessels in more than 100 countries and delivers some 160 vessels annually.


Otto Marine Signs Contracts to Supply 2 AHTS Vessels

Photo: Otto Marine Limited

 Go Offshore,  wholly-owned subsidiary of Otto Marine has entered into an agreement for two long-term anchor handling tug supply (AHTS) charter contracts worth USD25.2 million with a large oil and gas company.   The two contracts are in respect of two 16


African, Chinese Shipbuilders Form Partnership

Prasheen Maharaj (left), CEO of Southern Africa Shipyards, seals the deal with Ye Fengsheng of China Shipbuilding Trading Company. (Photo courtesy of SAS)

Southern African Shipyards (SAS) has entered into a Memorandum of Understanding (MOU) with China Shipbuilding Trading Company (CSTC), a subsidiary of China State Shipbuilding Corporation, in a union between the largest shipyard in Southern Africa and the largest shipbuilding group in the world.


Eastern Launches MPSV for Hornbeck Offshore

HOS Warland (Photo: Eastern Shipbuilding Group)

Eastern Shipbuilding Group, Inc. launched the HOS Warland (Hull 241) on Friday March 6, 2015 for Hornbeck Offshore Services, LLC. The HOS Warland is Eastern’s first of two 302’x76’x26’ multipurpose service vessels (MPSV) launched with the Hornbeck designation HOSMPSV 310ES


ASL Profit Nosedives

Photo by ASL Marine

 Singapore shipbuilding group ASL Marine has posted a sharp drop in net profit for its third quarter as revenues from its shipbuilding, shiprepair and chartering segments fell across the board.   Net profit for the three months to March 31 plummeted 65


STX Bags Order for Eight LR1 Tankers

LR1 tanker. Image by STX Offshore & Shipbuilding

 South Korean shipbuilder STX Offshore & Shipbuilding (STX O&S) has won an order for up to eight LR1 tankers with a total value of $ 375 million.    The contract provides for the construction of four oil tankers of 74,000 tons plus the ability to build four additional ships


Bridge Systems Ordered for Canadian Navy Newbuids

Artist rendering of the definition design for Arctic/Offshore Patrol Ships

OSI Maritime Systems signs contract for the implementation phase of Integrated Navigation and Bridge Systems for the Royal Canadian Navy’s Arctic Offshore Patrol Ship Program   OSI Maritime Systems Ltd.  (OSI) has signed a contract with Lockheed Martin Canada to build


Hyundai Heavy Delivers 2,000th Ship

Photo: Ocean BlackLion, 2,000th Ship HHI Delivered

 Hyundai Heavy Industries (HHI) has become the world's first shipbuilder to deliver its 2,000th ship. The world's largest shipbuilding company delivered a drillship, "Ocean BlackLion," to U.S. oil drilling firm Diamond Offshore at the Ulsan shipyard Friday.  


Teekay Orders 3 Tankers for Canada Contracts

Teekay Offshore Partners L.P. informs it has entered long-term contracts to provide shuttle tanker services for a group of companies producing oil on Canada’s East Coast, including Chevron Canada, Husky Energy, Mosbacher Operating Ltd., Murphy Oil, Nalcor Energy, Statoil and Suncor Energy.


Vancouver Shipyard Starts Building First NSPS Vessel

Kyle Washington – Seaspan Executive Chairman, Brian Carter – President, Seaspan Shipyards, John Weston – MP West VancouverSunshine CoastSea to Sky, Minister Finley – Public Works & Government Services Canada

  The Honourable Diane Finley, Minister of Public Works and Government Services Canada, joined by Andrew Saxton, Member of Parliament for North Vancouver and John Weston, Member of Parliament for West Vancouver-Sunshine Coast-Sea to Sky Country


Korean Shipyards in Troubled Water

Photo: Hyundai Heavy Industries

 Struggling with technology and a plunge in oil prices that has discouraged exploration, Korean vessel makers are racking up debt and could show billions of dollars in losses, reports Bloomberg.   The Big Three shipbuilders in South Korea ventured into offshore oil rigs starting around


Nantong Tongbao Bags Order for 8 Chemical Tankers

Image: Nantong Tongbao Shipbuilding

 Nantong Tongbao Shipbuilding has signed shipbuilding agreements with joint buyers, Shanghai Dingheng Shipping and Xiamen Xiangyu Group, for the construction of eight chemical tankers worth RMB1bn ($160.95m)   The delivery of tankers sized from 2,000dwt to 15


Australian PM Promises 2500 Shipbuilding Jobs

Tony Abbott, Prime Minister of Australia. Photo: Commonwealth of Australia

 Up to 2,500 shipbuilding jobs in Adelaide will be safe for "all time", the Prime Minister says, ahead of the expected announcement to build a new fleet of Navy ships worth $39 billion, reports ABC.   However, he said naval shipbuilding jobs in Adelaide would drop from about






 
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