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.
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.
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
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
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
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
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
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
The last commercial shipyard on the Clyde, Scotland, has secured grant to help safeguard 125 jobs and create a further 100. Ferguson shipyard has been awarded a £1m grant to refurbish its Port Glasgow premises and help fund new jobs.
Vard Holdings Limited, a designer and builder of offshore and specialized vessels, said it has secured a new contract for the design and construction of one offshore vessel for an undisclosed international customer. The new offshore vessel is designed by Vard Design in Ålesund, Norway
Singapore-listed Vard Holding sank deeper into the red as third-quarter losses widened to S$80.2 million. The losses were attributed to the dual challenge of a severe cyclical downturn in its core market, and managing the turnaround of its Brazilian operations.
The Singapore-listed and China-based shipbuilder Yangzijiang Shipbuilding has secured new orders worth $730m, including two very large gas carriers, between September and October. The two 84,000 cbm very large gas carriers (VLGCs) were ordered by Shanghai Zhenrong Energy.
German container shipping group Hapag-Lloyd AG is postponing its stock market debut by a week after investors shied away from the company following Maersk Line’s modest profit forecast last week, reports Reuters. If demand for the shares remains weak Hapag may lower the offer
Container shipping group Hapag-Lloyd has received bids for all of the shares on offer for its planned stock market flotation on Oct. 30, a person familiar with the deal said. "Books are fully covered including greenshoe (overallotment option)," the source said on Friday.
Shipping firm Stolt-Nielsen reported third-quarter earnings below forecast on Thursday and said it remained worried by the expected influx of new product tankers in 2016 and 2017. Stolt-Nielsen's June-August operating profit rose to $59.8 million from $45
GTT, a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), announced it has won a new order for a floating storage and regasification unit (FSRU) from the Korean shipbuilder Samsung Heavy Industries.
China’s 21st Century Maritime Silk Road and Economic Belt development vision has takers in UK maritime sector, reports Xinhua News Agency. Both countries expected to improve bilateral maritime cooperation in the "Belt and Road" initiative
Silverstream Technologies, pioneers of air lubrication technology for the shipping industry, today announced the appointment of Stephen Potts as its new Head of Supply Chain. The development is based on the company’s strategy to further expand its infrastructure on the back of
Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), which operates the world's fourth shipbuilding facility in Subic Freeport Zone, unveiled the first-ever Philippine-made Liquefied Petroleum Gas (LPG) carrier. The ship was ordered by Belgian shipping company Exmar
A mini order boom fueled by gas, “green-tech”, tankers and new rules is underway in shipbuilding. It won’t fill all yards, but changes like the July 2015 cap on sulfur emissions garner retrofit and rush orders. Even China’s Directive 55 obliges its mixed bag of yards to
The upgraded version of the Wärtsilä 34DF engine is rapidly becoming established as an industry standard. The three major South Korean shipyards are supporting the use of this engine for auxiliary applications in the LNG Carrier segment where dual-fuel engines are favoured
Otto Marine Limited, an offshore marine company, announced that further to a long-term bareboat charter contract that was secured in June 2015, it has taken delivery of a 238-man work maintenance Vessel to fulfill that charter. The delivery ceremony for the vessel, Nautical Aliya
Royal Boskalis Westminster N.V. (Boskalis) achieved a very busy first half year with historically high profit and realized a net profit of EUR 306.5 million in the first half of 2015, a rise of 21% (H1 2014: EUR 253.0 million). Revenue in the first half of the year rose 1.6% to EUR 1