Ship Repairing News

RINA and China State Shipbuilding Corporation (CSSC) have signed a Strategic Cooperation Agreement for some of the activities related to passenger ships building. RINA will provide technical advice to CSSC in accordance with RINA’s experience and expertise.The agreement, which has been conceived during the recent visit to Italy of President Xi Jinping for the signing of the Belt and Road Initiative agreements, was signed by RINA’s CEO, Ugo Salerno and Mr.Lei Fanpei, Chairman of CSSC, in Beijing.

The leader of Shipbuilding Industry in Sri Lanka Colombo Dockyard PLC (CDPLC) has successfully secured a contract with Toyota Tsusho Corporation (TTC) of Japan to build two vessels; Pilot Station Vessel and Buoy Tender Vessel, for General Company for Port of Iraq (GCPI). TTC and GCPI signed the Prime Contract on 27th April 2018 in Dubai. Subsequent to the signing of the Prime Contract, TTC signed the Sub Contract Agreement with CDPLC as TTC’s preferred Shipyard for the construction of these vessels on 2nd May 2018 in Japan. TTC is a trading and investing company which is also a group company of TOYOTA. By recognizing the potential of CDPLC, TTC decided to collaborate with CDPLC for this project to compete and submit bid proposals in response to a tender floated by GCPI in July 2017.

Bahrain Ship Repairing and Engineering Co reported FY net profit attributable to shareholders of 3 million dinars versus 1.9 million dinars a year ago.   The board proposes FY cash dividend of 50 fils per share with a bonus share of 10 percent of paid-up capital.

In order to promote ship building and ship-repair industry in India, the government has formulated a policy of financial assistance for shipbuilding for a period of ten years for contracts signed between 1st April, 2016 and 31st March, 2026. The Financial assistance at the rate of 20% of the contractual price of a vessel, fair price, or actual payments received by the shipyard is payable after delivery of the vessel and as per the guidelines issued by the Ministry of Shipping. There are 18 major ship-repairing facilities on western coast and seven on eastern coast  at present in the country. The Cochin Shipyard Limited, a Central Public Sector Shipyard under the administrative control of Ministry of Shipping…

The shipbuilding and ship repairing industry has always been a core strength of our nation. It has enabled the United States to protect and project its prosperity, power and influence internationally. A book in my office signed by shipbuilder William Webb illustrates the point. Mr. Webb inherited his father’s shipyard in 1840 and built over 130 of the fastest clipper sailing vessels; he later built the largest and most celebrated steamships of his era. Those were glory years for the U.S. maritime industry, an era when the shipping industry was synonymous with American sovereignty.

The Shanghai International Shipping Institute (SISI) predicts a surge in bankruptcies within China's dry bulk shipping industry, Reuters reports. The overall business climate in China continues to deteriorate and dry bulk shipping companies, being hit the hardest, are likely to be swept by a new wave of bankruptcies. The institute basis its prediction on a survey of 50 of the country's biggest dry bulk shipping lines, which found that over 60 percent are struggling with long-term losses and 40 percent are facing liquidity problems. In the fourth quarter of 2015, shipping business climate index was at 82.04 points, the report shows, which is still a relatively depressed level. The shipping business confidence index was at 34.42 points, also slumping heavily.

Baltic Dry Index hits all-time low of 468 points on Tuesday. China's dry-bulk shipping industry will likely see a surge in bankruptcies this year as freight rates hit record lows and the country's demand for imports wanes, consultancy Shanghai International Shipping Institute (SISI) said. A number of firms have already gone bust over the past year as the industry grapples with the worst downturn on record due to stalling demand for iron ore and coal from China and a global surplus of vessels. With benchmark freight rates now at an all-time low, finances will be further stretched for shippers. According to the SISI, more than 60 percent of the dry-bulk shipping firms it surveyed were struggling with long-term losses, while about 40 percent faced liquidity problems.

China's  state-owned shipbuilder Zhoushan Wuzhou Ship Repairing & Building Co. Ltd (ZWSRB)  is first government-backed shipbuilder to go under since sector started having problems last year. Zhoushan Intermediate People's Court said it accepted a petition filed by Zhejiang Shipping Group regarding the bankruptcy of a subsidiary called ZWSRB, reports Caixin. The court said it had frozen the assets of Wuzhou Ship Repairing & Building, which was founded in 2001. The shipbuilder had debts of 911 million yuan and total assets of 534 million yuan as of September 30 this year, its financial report showed. Wuzhou Ship Repairing & Building started having financial difficulties last year, a person with knowledge of the matter said.

How did you find a career in the maritime industry? As a consequence of my father´s dedication to the industry, as founder of a shipping agency in the early eighties as well as partner in a large shipping company and shipyard´s ownership, I grew up in this atmosphere and orientated my academic training towards being able to continuing what he and his business partners created and developed. Although I did start my professional career dealing with other type of businesses within my family, the core root of our family wealth has always been in the maritime industry.

Pilot project pioneering laser repair works for the metal parts of ships and vessels has been launched in Russia's Primorsky Territory, reports Sputnik. The technology of laser reordering of metallic parts in Russia's Primorye Territory was developed by the Far Eastern branch of the Russian Academy of Sciences (RAS) jointly with the Far Eastern Federal University and the Vladivostok-based ship-repairing center Dalzavod. Robot complexes will be equipped with high-power lasers which will allow overlaying repair coats of different metals on faulty parts automatically, fully restoring the operational integrity of separate units, the RAS Far Eastern branch said. "With the use of lasers, coats of various metals will be put on broken parts to fully restore them.

Pipavav Defence & Offshore Engineering Co Ltd (PDOC) has announced a joint venture (JV) with Russia's JSC Ship Repairing Centre Zvyozdochka for medium refits and life certification of eight EKM 877 submarines in the country. This positions PDOC nicely for overhauling India's nine Russian-origin kilo-class submarines, and several identical submarines operated by other regional navies. Pipavav, in which Anil Ambani-led Reliance Group is in the process of acquiring a majority stake, proposes to execute the programme under a joint venture with 51 per cent stake, consistent with MoD regulations, a company statement said. This would be the first time the work for refit of submarines was being considered for the private sector in the country.

United Shipbuilding Corporation (USC) has taken on 53.5122% of the voting shares of the long planned Far Eastern Plant Zvezda shipbuilding complex in Russia’s Far East. Zvezda (a company of the Far Eastern Shipbuilding and Ship Repair Center, or FESRC) is a leading shipyard providing services for repairs of submarines of the Russia’s Pacific Fleet and the only company in the Far East specializing in repairs, conversion and modernization of nuclear-powered ballistic missile submarines. Frustrated with the lack of yard space to build new tankers and oil platforms as high-priority naval orders filled up shipyards, state oil major Rosneft in 2013 launched a 111 billion ruble ($2 billion) modernization project at Zvezda, formerly one of the Soviet Union’s largest military shipyards.

Wärtsilä has signed a manufacturing license agreement with COSCO (Weihai) Shipbuilding Marine Technology Company Limited (WECOSCO) based in Weihai, China. The two-way agreement provides COSCO with access to technology and the rights to manufacture the Wärtsilä Aquarius Electro Chlorination (EC) Ballast Water Management System (BWMS) under license for application in its global marine market. In return, Wärtsilä gains access to an additional manufacturing facility able to assist with supply and demand of the Wärtsilä BWMS direct to Wärtsilä customers.

Since ancient times, maritime trade has been a backbone of Greece’s economy with shipping playing the dominant role. Today, it is the second largest contributor to the national economy after tourism. It is the country’s geography with a coastline almost that of the U.S. (including Alaska) in length together with the mountainous nature of the landmass with 85% of Greek population living within 30 miles of the sea, that has been responsible in creating a strong influence on this industry. Although the country’s shipping experienced regression during the late Roman period, it grew in prominence during the last few centuries of Ottoman rule, when Greek traders dominated the grain trade between southeastern Europe and the West.

Fuel bunkering under the Magampura Mahinda Rajapaksa Port will commence operations by June 15, Sri Lanka Ports Authority (SLPA) Chairman Priyath Bandu Wickrama said. "Bunkering operations will start by June 15 at the newly built fuel bunkering terminal at Magampura Mahinda Rajapaksa Port," Wickrama said. "The terminal, which will provide fuel for ships, has been constructed at a cost of US $95 million in line with the Magampura Port development project. According to the chairman, all facilities have been tested for fuel bunkering and the first shipment of fuel for bunkering will be received in the first week of June. An oil tank farm with 14 tanks with an investment of US $ 76 is also constructed at the Hambantota Port.

COSCO Corporation inform that two contract options for the construction of two platform supply vessels (PSV) at their COSCO (Guangdong) Shipyard have been declared effective. The option contracts, valued at approximately US$60-million, were from a Singapore based company. COSCO add that barring any unforeseen circumstances, the option contracts are not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2014.

COSCO Corporation (Singapore) Limited says its COSCO Dalian shipyard has delivered the 57,000 dwt bulk ship 'Guotou' to its Asian buyer. The new bulk carrier measures 189.99 meters in LOA, 32.26 meters in breadth and 18 meters in depth. Founded in June 2001, COSCO Shipyard Group Co., Ltd, is a subsidiary of China Ocean Shipping Company (COSCO), specializing in large vessel construction, marine engineering, construction and conversion, as well as ship repairing services. Shipyards are located in Dalian, Nantong, Zhoushan, Guangdong Province, Shanghai, Lian Yungang and other places in China.

Following Bahrain's 2012 IMO World Maritime Day Parallel Event, Mr. Sekimizu received US$50,000, from ASRY towards IMO’s maritime security activities. The cheque from local shipbuilding and repairers ASRY was presented by Daij Bin Salman Al Khalifa, Chairman of ASRY, in the presence of Hassan Ali AlMajed, Chief of the Port and Maritime Authority, Ministry of Transportation. It was requested that the fund should be used for IMO’s projects addressing piracy off the coast of Somalia and in the Indian Ocean. Mr.

BAE Systems San Francisco Ship Repair, San Francisco, Calif., is being awarded a $12,257,163 firm-fixed-price contract for a 55-calendar day regular overhaul and dry-docking of Military Sealift Command's dry cargo/ammunition ship USNS Alan Shepard. Some of the major work items include dry-docking and undocking the ship, repairing interior decks, structural repairs, overhauling the main diesel generators, and inspecting and refurbishing the propeller shaft and stern tube. The ship's primary mission is to provide fuel, ammunition, and dry and refrigerated stores to support Navy ships at sea, enabling them to remain underway for extended periods. This contract includes options, which, if exercised, would bring the cumulative value of this contract to $14,321,064.

Wärtsilä's two-stroke engines have been chosen for eight Chinese bulk carriers. The order was placed by Beijing-based Minsheng Financial Leasing Co. Ltd. Wärtsilä's Chinese licensee, Hefei Rong'An Power Machinery Co Ltd (Rong'An), a member of the Jiangsu Rongsheng Heavy Industries Group Co Ltd (RSHI), will build the engines. The Wärtsilä RT-flex58TB two-stroke engines will be installed in a series of eight 76,000 dwt Panamax bulk carriers. The first vessel is scheduled to be launched in March 2011.

Led by Alexander Ananenkov, Deputy Chairman of Gazprom Management Committee, the company’s delegation continues its business trip to Saint Petersburg. The delegation is composed of Oleg Aksyutin, Member of the Management Committee – Head of the Gas Transportation, Underground Storage and Utilization Department, Yaroslav Golko, Member of the Management Committee – Head of the Investment and Construction Department, Vasily Podyuk, Member of the Management Committee – Head of the Gas, Gas Condensate and Oil Production Department, as well as heads and specialists from Gazprom specialized subdivisions and subsidiary companies – Gazprom VNIIGAZ…

The Pha Rung Shipbuilding Industrial Company, a member of the Vietnam Shipbuilding Industrial Economic Group (VINASHIN), on January 27 launched the construction of three shipbuilding and repair factories which are considered to be the biggest in Vietnam so far. These include the Yen Hung Shipbuilding Factory, the Sea Ship Repairing Factory in Yen Hung Supporting Industry Complex and the Pha Rung VINASHIN-MAN Engine Manufacturing Factory. Total cost for construction of the three factories is put at VND 4.5 trillion. According to Mr Nguyen Van Hoc, General Director of the Pha Rung Shipbuilding Industrial Company, with the construction of the Pha Rung VINASHIN-MAN Engine Manufacturing Factory, Vietnam will become the fourth country in the world to manufacture sea ship engines.

Following quickly on the heels of an overseas investment deal in Marseilles, Cammell Laird (Holdings) has increased its involvement in the overseas repair and conversion industries by taking a $7.7 million (49%) equity stake in a new holding company along with United States' West Coast shiprepairer Cascade General. This deal has an option for Cammell Laird to take a controlling interest within the next two years. The deal will allow the new company to purchase the repair facility (freehold and docks) at Portland, Oregon, the largest single repair facility on the U.S. West Coast. The facility is currently owned by Portland Port Authority and operated by Cascade General.