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
China and Brazil sealed their expanding commercial partnership on Thursday with a $5 billion credit line for Brazilian miner Vale and the purchase of 60 passenger jets from Brazilian planemaker Embraer. In a raft of energy, finance and industry accords signed before presidents Xi Jinping and
Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014 Order intake decreased 5% to EUR 2,305 million (2
Cargotec's January-June 2014 interim report show that orders grew but operating profit was burdened by project cost overruns in Kalmar April-June 2014 in brief Orders received increased 19 percent and totalled EUR 993 (833) million. Order book amounted to EUR 2,285 (31 Dec 2013: 1
Designers and shipbuilders of offshore and specialised vessels, Vard Holdings, has announced its financial results for the second quarter of financial year 2014 (2Q2014), and first half ended 30 June 2014 (1H2014). Highlights are as follows:
First Quarter 2014 Results The Company reports net income of $10.7 million and earnings per share of $0.35 for the first quarter compared with net income of $3.5 million and earnings per share of $0.12 for the preceding quarter. Net income in the first quarter includes $9
South Korea, Japan and China shipyards update their order books with a clean haul of ocean-going newbuilding contracts, detailed as follows in the latest Clarkson Hellas S&P Weekly Bulletin. Drybulk carriers Clarkson Hellas report a few orders in dry
Royal Boskalis Westminster N.V. reported a higher revenue for the first quarter of 2014 compared to the same period last year. This was in line with company expectations. This achievement was the result of Good utilization of the Dredging and Offshore vessels
Singapore's Sembcorp Marine says that its subsidiary Jurong Shipyard has secured a US$236 million (about S$296 million) contract to build a high specification, tailor-made jack-up rig for new customer Hercules North Sea Ltd. Scheduled for delivery in the second quarter of 2016
International engineering, testing, certification and classification group RINA has reported improved results for 2013. Its performance was strengthened by an upturn in marine activities and a drive to improve efficiency and drive down costs.
Construction for One Offshore Subsea Construction Vessel for Solstad Offshore Made Effective. Vard Holdings Limited is pleased to confirm that the contract for the design and construction of a large Offshore Subsea Construction Vessel (OSCV) has been made effective
International classification society Bureau Veritas has worked closely with the towing industry to develop a set of Guidelines for Design, Construction and Operation of Tugs. The Guidance Note provides safety rules for tugs in an area of marine safety where there are many vessels not covered
Nam Cheong Limited a leading global offshore marine player listed on the Main Board of the Singapore Exchange Securities Trading Limited and Malaysia’s largest Offshore Support Vessel builder, today announced that it has sold two Accommodation Work Barges (“AWB”) worth
States Domestic Maritime’s Commitment to Meeting Transportation Needs of Changing Energy Economy Appearing before the American Petroleum Institute’s Tanker Conference in Austin, AWO President & CEO Tom Allegretti affirmatively stated that the domestic maritime industry is fully
I couldn’t possibly kick off this edition of MarineNews without first acknowledging – and applauding – the passage of the long-awaited, much needed Water Resources Reform and Development Act (WRRDA). Signed into law by the President on June 10th
Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of offshore and specialized vessels, has acquired STX Canada Marine Inc., a leading marine engineering and design company with more than 30 years history in North America, for approx