After Mazagon Dock Ltd, two more defence ministry-controlled shipyards are looking for private partners to build warships to meet rising demand from the Indian Navy and the Coast Guard, according to a report on www.LiveMint.com. Hindustan Shipyard Ltd and Garden Reach Shipbuilders and Engineers Ltd reportedly have received expressions of interest from 8-10 private shipyards in response to tenders floated last month. While separately inviting expressions of interest for joint venture partnerships last month, the two shipbuilders said in similarly worded advertisements on their websites that they were “looking at a joint collaborative strategy to meet the challenging timelines in order to liquidate the existing order book as well as expected orders from the Indian Navy and Coast Guard,” according to the LiveMint.com report. State-run defense shipyards are looking for private partners to expedite production as the government tries to boost maritime defence capabilities to deal with piracy and terrorism. Mumbai-based Mazagon Dock, with an order book of Rs.1 trillion accounting for about 85% of India’s defence shipbuilding orders, recently selected Pipavav Defence and Offshore Engineering Co. Ltd as a joint venture partner to build warships. (Source: www.LiveMint.com)
Figures published in the latest issue of Cruise & Ferry INFO, published by Swedish shipping media house and consultancy, ShipPax Information, reveal that South European shipyards have taken a lead in the ”market shares” of ferry newbuildings. Ferries worth $1.511 billion are now on order in the Mediterranean countries. At the same time, Northern Europe only produce new ferries worth $ 448 million whereas the Far East produces for $ 545 million, and then mostly for domestic account.
Daewoo Shipbuilding & Marine Engineering Co Ltd has won orders from Norway and Greece worth $530 million. The shipbuilder secured an order from Norway's Odfjell Invest I Ltd to build a semi-submersible drilling rig and a deal from Kristen Navigation Inc of Greece to build a very large crude-oil carrier (VLCC), taking its order book to $2.29 billion so far this year. The company did not disclose the financial terms of the individual deals
Record high oil prices have sent the shares of companies in the offshore and marine sectors rallying up an average of 16.5 percent year-to-date. But analysts spoke to say there is still upside potential, citing factors like strong demand for offshore rigs, which may result in the order books of key beneficiaries like Keppel and SembCorp pushing out to 2012 and beyond. The Singapore stock market may have repeatedly tested new highs in recent weeks
ASL Marine Holdings Ltd. has secured major shipbuilding contracts worth S$164 million. These contracts are for the construction of seven vessels involved in offshore oil and gas as well as port terminal operations. The seven vessels include six units of Rotor tugs secured from repeat customers in Europe as well as one unit of Heavy Lift cum Pipelay vessel secured from a customer in India. These contracts are due for delivery by 2009.
Titan Quanzhou Shipyard Co., Ltd. announced the launch of its second vessel, Titan Spirit. The launch of this 6,500 ton double-hulled bunker tanker follows the August launch of Titan Quanzhou Shipyard’s maiden vessel. It is the second of the 22 vessels already currently on order at the shipyard, which represents a total order book of $210m. Source: Shipping Times
Thanks to a booming global shipping industry, Malaysian shipyards are working overtime, mostly to meet backlog orders that could stretch well into 2008. The biggest player, Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), has a backlog orders, which will keep it busy until the middle of 2008. Then there's mid-size Muhibbah Marine Engineering Sdn Bhd, with an order book of RM130 million that will last until early 2008.
The management of Wärtsilä will announce the growth estimate for 2008 and will specify the long term profitability target. Wärtsilä's net sales are estimated to increase by about 25 percent in 2008. This estimate is based on a strong order book, out of which approx. $4b will be delivered in 2008, and the continued strong development of the Services business. In 2008 the profitability will improve. To support this growth, Wärtsilä is planning to invest approx
Carisbrooke Shipping currently own/operate approximately 40 modern dry cargo vessels, ranging from 3,000 dwt up to 20,000 dwt and have actively been modernizing their fleet in the recent past with an average age today of around three years. They also have a new building order book which will add a further 15 units until the year 2010 from shipyards in , and . The first of the ECDIS systems will be delivered before the end of 2008 and the remaining will be delivered over a period of three
Singapore-based offshore energy group Swiber Holdings issues its Q2 & HY 2012 financial report. Swiber Holdings provide offshore construction, offshore marine, subsea & offshore development services. 2Q 2012 highlights: Net Profit surges 66.0% to US$20.9 million Revenue rises 27.1% to US$229.6 million HY 2012 highlights: Net Profit rose 36.9% to US$33.5 million Revenue increases 28.0% to US$424.0 million
HVAC & Refrigeration Engineering Ltd., a provider of manufacturing, design and engineering services in hazardous and harsh environment products, has appointed a new member to its board of directors as the company looks to maintain its current strong growth.
China shipbuilder and repairer COSCO group in its financial report for year ending 31, December 2013, informs that operating conditions for most of 2013 continued to be difficult. The Group’s turnover was $3.5 billion, lower by 6% from $3.7 billion for the year before
IHC Merwede successfully increased its orderbook in 2013 across the main sectors of its business: offshore and dredging. The company received almost € 1.8 billion worth of new orders in the past year. At the end of 2013, the order book was valued at over € 1
Great Lakes Shipyard announced winter layup season is wrapping up at the yard after completing repair work on the following vessels: American Steamship Company’s M/V Sam Laud Grand River Navigation’s Manitowoc Interlake Steamship Company’s articulated tug-barge
Ocean carriers have a pool of surplus 8,000-10,000 teu vessels looming ahead unless some thinking ‘outside of the box’ is behind recent newbuild orders, considers Drewry Maritime Research in their latest 'Container Insight'. Supply side
Monday, January 13 witnessed the official opening ceremony of Damen Shipyards Sharjah FZE – the newest shipyard of Albwardy Marine Engineering. In a joint venture between the Damen Shipyards Group and Albwardy Marine Engineering, the core activities at DSS will continue along the tried and
Anchor Handling Tug Supply vessel will be built to ABS class for Offshore Japan Corporation by Japan Marine United Corporation. ABS has been selected by Offshore Japan Corporation (OJC) to class its newly-ordered Anchor Handling Tug Supply (AHTS) vessel
Yara International ASA delivered lower fourth-quarter results, with weak commodity margins but robust value-added premiums and strong deliveries. Yara's board will propose to the Annual General Meeting a dividend payment of NOK 10 per share for 2013.
(Reuters) Singapore's Sembcorp Marine Ltd, one of the largest offshore drilling rig producers in the world, said its net profit in the fourth quarter rose 9.2 percent as higher operating profit offset lower contributions from associates and joint ventures.
Chinese shipbuilder COSCO Corp (Singapore) Ltd on Monday reported a 71 percent fall in full-year 2013 net profit, due to lower profit contributions from ship building and marine engineering segments. COSCO Corp, a subsidiary of state-owned maritime industry giant China Ocean Shipping (Group) Co
Reuters – Yangzijiang Shipbuilding Holding Ltd said its fourth-quarter net profit dropped 8 percent on the year, as income from shipbuilding decreased. Privately-controlled Yangzijiang is China's third-largest listed shipbuilder by market capitalisation
Reuters - Yangzijiang Shipbuilding Holdings Ltd, a top Chinese shipbuilder, plans to build more mega container ships for shipowners eager to cut operating costs. Yangzijiang is China's third-largest listed shipbuilder by market capitalisation and has boasted profit margins that dwarf those of
By Paul Kilby, IFR Petrobras has launched a $8.5 billion six-bond offering after generating a $22 billion plus order book. The trade was launched as a $1.6 billion three-year fixed at Treasuries plus 250bp, $1.4 billion three-year FRN at 3mL+236bp, $1
By Jonathan Saul and Oleg Vukmanovic, Reuters Deliveries of new gas tankers have created a glut that is threatening to tip some operators into losses, just as other shipping markets emerge from their worst downturn in decades. The liquefied natural gas (LNG) tanker market was until recently
Royal Boskalis Westminster N.V. (Boskalis) reports an increased revenue of EUR 3.5 billion in 2013 (2012: EUR 3.1 billion). Net profit rose sharply to EUR 366 million (2012: EUR 249 million), partly due to a number of extraordinary items amounting to EUR 97 million post tax