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
Keppel Corp's full-year profit up 2 pct at S$1.9 bln. Singapore's Keppel Corp Ltd said fourth-quarter net profit rose 6.1 percent to S$725.9 million ($544.8 million), while its full-year profit rose 2 percent and beat analysts' consensus.
Chesapeake Shipbuilding has signed a contract with Vane Brothers to build two new tugs, marking the 13th and 14th tugs that Chesapeake will have built for Vane Brothers in the last several years. The two new tugs will fit into Chesapeake’s existing order book
CEO cautious on 2015 outlook. Finnish ship engine and power plant maker Wartsila reported a smaller-than-expected quarterly profit and warned lower crude prices were likely to curb oil firms' demand for vessels. Shares in Wartsila dropped 2.1 percent to 40
Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market, even as lower fuel prices would help operations. Stolt-Nielsen's fourth quarter net profit fell to $13.1 million from $35
* Group revenue increased by 16.8% to US$ 96.8 million for 3Q2014, higher revenue across all the three business segments * Offshore Chartering, as the major revenue and profit generator, registered higher profit even as overall market was weak
Q3 TRADING UPDATE - HIGHLIGHTS Good third quarter with sizable financial settlements on old projects Order book increased slightly to EUR 3.3 billion 2014 OUTLOOK Market conditions remain challenging Good second half-year expected
Oslo-listed liquefied natural gas (LNG) shipper Hoegh LNG reported third-quarter earnings below expectations on Wednesday and said its market could remain challenging for the next two to three years due to an oversupply of vessels. Hoegh, which operates LNG carriers and regasification units
Norway’s Kleven has enjoyed a strong Q3 with significant orders from Maersk and De Beers, bringing its order book to 18 vessels valued at $1.8 billion. De Beers Marine Namibia, part of De Beers Group, signed a deal with Kleven to build a specialized vessel for deep water mineral
Global conglomerate Libra is snapping up container ships, betting on a sector recovery and lower oil prices which will cut costs and boost profitability, the group's chief executive said. Libra has proved adept at buying and selling assets since 2008 -- making significant returns on investments
Becker Marine Systems delivers rudder for the largest container ship in the world At 19,000 TEU, the largest container ship in the world is now picking up speed – with a high-performance rudder from the Hamburg-based company.
Fincantieri SpA has been awarded an order by Carnival Corporation & plc for the construction of two new cruise ships for Carnival Cruise Line and Holland America Line. Both will be sisters ships respectively to Carnival Vista and Koningsdam
Arctech Helsinki Shipyard is now 100 percent Russian-owned as United Shipbuilding Corporation bought the remaining half of the company’s shares from STX Finland Oy. Arctech Helsinki Shipyard Inc. was founded in December 2010 as United Shipbuilding Corporation bought the first 50
MAN Diesel & Turbo has developed a lead in the supply of modern engines with dual fuel capability. Here we speak with the company’s Ole Grøne, SVP, Low-Speed Promotion and Sales, for his insights on the company’s future trajectory.
Tsuneishi Shipbuilding Co., Ltd. finished building an 82,000-mt D/W type bulk carrier Ultra Lion on January 7, 2015, marking the completion of the builder’s 200th Kamsarmax model vessel. Built by Tsuneishi Group Shipbuilding, Inc
Russia’s renewed focus on the commercial shipbuilding industry was set as a key aim by Prime Minister, Dmitry Medvedev in his recent discussions on the development of the sector through 2015. Various industry ministries have been charged with analysing industry prospects until 2030