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Report: SPP Group to Build 15

According to a Reuters report, South Korea's SPP Group (www.spp.co.kr) won new shipbuliding orders for a cumulative 15 ships -- reportedly seven of them bulk carriers -- for $660m.


ISS Palumbo UK Acquires Union Transport

ISS Palumbo UK, part of maritime services provider Inchcape Shipping Services (ISS), has acquired U.K. freight forwarding specialist Union Transport (Newcastle) Ltd.   The merger of the Union Transport business with ISS Palumbo and its worldwide network will enhance the combination of global project freight forwarding and integrated logistics ISS Palumbo offers to its customers, including ENI, SAIPEM and Air Products.  


India Govt, Cochin Shipyard Pact on FY17 Growth Targets

Image: Cochin Shipyard Ltd

 Cochin Shipyard Limited (CSL) has entered into a Memorandum of Understanding (MoU)  with the government of India for the ongoing fiscal under which targets agreed are in line with aggressive growth plans of the public sector firm.   "CSL has signed a MoU with the Government of India for the financial year 2016-17," Ministry of Shipping said in a statement.   The Memorandum of Understanding was signed by Shri Rajive Kumar


Aker Finnyards: Negotiations with Employee Reps Concluded

Since the beginning of 2005 Finland's three largest shipyards in Helsinki, Rauma and Turku have been working as one company, the new Aker Finnyards. As a part of the restructuring, negotiations were started on November 9 with the employee representatives to improve the productivity of the yards. The formal negotiations have now been concluded, and the number of employees that will be affected will be approximately 315.


New Leadership at Fugro

Fugro GeoServices announced several recent promotions within the company, including two key management appointments: Ted Hampton, president and Adam Jackson, senior vice president. Mr. Hampton is a licensed geologist and former vice president of the company. He replaces longtime leader Mr. Tom Hamilton, who will retire this spring after nearly 30 years with Fugro. Together, Mr. Hamilton and Mr. Hampton led the formation of Fugro GeoServices in 1999 to provide oil and gas clients in the Gulf


Korea Yards to Build Scorpio LPG Tankships

Image courtesy of Scorpio Tankers

Scorpio Tankers signs agreements with two S. Korea shipyards to construct a minimum of 5 & up to 10 LPG tankships, Scorpio's first venture into this specialised market. Emanuele Lauro, chief executive officer and chairman of the board, commented, "We are excited about our entry into LPG which we have long considered an extension of the product market. With common customers, shipbuilders, and trade lanes, and offsetting seasonal swings


Kudos for Norsafe from Australian Navy

Courtesy Norsafe

Norsafe Receives High Praise from Australian Navy Norsafe, global leader in marine life-saving equipment, has received a glowing recommendation from the Australian Navy for the quality of its lifeboat servicing on one of the Navy’s replenishment vessels HMAS Sirius. The work on the HMAS Sirius involved lifeboat overhaul and upgrade plus Non-destructive testing (NDT) inspection and overhaul of the winches and davits.


Port of Brunswick Wins Honda Import Deal

Photo courtesy of Honda

The Georgia Ports Authority has won new import business from Honda. The 2015 Honda Fit, built at the carmaker’s new plant in Celaya, Mexico, is moving into the U.S. through the Port of Brunswick. International Auto Processing (IAP) will handle the cars upon arrival.   “Highlighting the truly global nature of auto manufacturing, a Japanese company building cars in Mexico has chosen Georgia’s deepwater ports as a vital gateway to the U.S


Greencarrier Freight Services Achieves ISO Standards

Georg Skivik Moltu (Photo courtesy: Greencarrier Freight Services)

Greencarrier Freight Services’ business has strengthened its position in the energy and project forwarding markets by achieving management (ISO 9001) and environmental (ISO 14001) certification for its Energy & Project Business Unit. “As a new and relatively small company in the oil and gas and project logistics industries, we have to produce a level of quality, personal service and knowledge that exceeds what the competition is doing,” said Georg Skivik Moltu


Hong Kong Eyes Shipping Boost from China's New Silk Road, Iran

File photo: Maersk Line

Hong Kong's crucial shipping trade is hoping China's overseas infrastructure plan and closer business ties with Iran will enable the city to tackle the downturn in the seaborne sector and tougher competition, officials said.   The global container sector, which transports everything from bananas to iPhones, as well as the dry bulk shipping market hauling commodities including iron ore and coal, is struggling with a glut of ships


KOGAS to Support Korean Shipyards

Deagu Head Office. Photo: Korea Gas Corp.

 In a bid to help South Korean local shipyard weather their worst-ever slump, the State-run Korea Gas Corp. (KOGAS), the world's largest LNG importer, will soon place shipbuilding and maintenance orders with them, says a report by Yonhap.  


Is DSME Facing Delisting?

Photo: DSME Co.,Ltd

 South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME),  faced with risks of being delisted from the stock market due to capital erosion, is seeking measures for survival, says a report in Korea Times.   DSME has fallen into the state of complete capital impairment


Samsung Heavy Industries to Raise $985 mln via Rights Issue

South Korean shipbuilder Samsung Heavy Industries Co Ltd said on Friday its board of directors have approved a plan to raise about 1.1 trillion won ($985.22 million) via a rights issue. Samsung Heavy, part of the Samsung Group conglomerate


Austal JV Wins First Ferry Contract

Image: Austal Limited

Aulong Shipbuilding, a joint venture company formed by Austal Limited and Guandong Jianglong Shipbuilding of Zhuhai, China, has won the first ferry contract to build a 42 metre high speed aluminium ferry for Chinese mainland operator Blue Sea Jet.


Damen Bags Jack-up Pontoon Contract

Contract signing Clive Frost and Pascal Slingerland Photo Damen

Damen Shipyards Sharjah (DSS) in the United Arab Emirates has won a contract to build a shallow draught, self-propelled Jack-up Pontoon 3526 for the UAE-based contractor Aqua Diving Services Ltd. Once delivered, it will be used primarily to deliver offshore support services


SpeedCast Acquires WINS Limited

Satellite communications and network service provider SpeedCast International Limited announced its acquisition of WINS Limited, a Europe-based provider of broadband satellite communications and IT solutions for the maritime sector.  


Prosecutors Summon DSME CFO

File Image: DSME

 The Seoul Central District Prosecutors’ Office summoned  the chief financial officer (CFO) of Daewoo Shipbuilding & Marine Engineering Co. (DSME ) today (Friday) over his alleged involvement in the financially troubled company’s accounting fraud.  


Is Hanjin Shipping Going Into Court Receivership?

Image: Hanjin Shipping

 According to a latest report in Korea Times, South Korea's biggest container carrier Hanjin Shipping's efforts to settle the rescheduling deadlines for financing ships and reducing charter fees before the end of July has not yet be resolved.  


DSME to Build Two VLCCs for BW Group

Photo: Daewoo Shipbuilding & Marine Engineering

 South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has received a 200 billion won (US$179.2 million) order to build two oil tankers for Singapore-based oil and gas transporter BW Group.   According to Yonhap


No Clues on Hanjin's Financial Health

Photo: Hanjin Shipping Co.

 Cash-strapped Hanjin Shipping Co. sources say that the negotiations with tonnage providers for lower rates are undergoing, but wouldn't say much else.   According to Korea Herald, the country's No.1 shipping line has come under growing pressure from its creditors to secure more money


Samil PwC Okays Hyundai's Management Improvement Plan

Photo: Hyundai Heavy Industries

 Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement plan is good enough for HHI to make operating profits and secure liquidity even in the worst case scenario.  


Hyundai Bags NZ Defence Order

3D Image of Logistics Support Vessel HHI to Build Under New Zealand Defence Force’s MSC Project. Photo: Hyundai Heavy Industries

 Hyundai Heavy Industries (HHI), the world’s largest shipbuilder, has won an order to build a 23,000 ton class logistics support vessel for New Zealand Defence Force’s Maritime Sustainment Capability (MSC) project.   


Creditors May Give Breathing Room for Hanjin Shipping

Photo: Hanjin Shipping

 State-run Korea Development Bank and other creditors are expected to extend their conditional debt rescheduling program for Hanjin Shipping Co. to stay afloat, reports Korea Herald.   This move will give the struggling shipping company enough time to cover liquidity shortage on its own


ENSTA Bretagne wins SAUC-Europe ‘16 at CMRE

ENSTA Bretagne Team  Photo CMRE

Team ENSTA Bretagne from France won the 11th edition SAUC-E competition, the Student Autonomous Underwater Vehicle Challenge - Europe.  The 2nd prize went to the Tom Kyle team, from the University of Applied Sciences of Kiel (Germany). The UNIFI team with the robot Marta from the University


Ex-CEO of Daewoo Shipbuilding Grilled

Photo: Daewoo Shipbuilding & Marine Engineering

 Daewoo Shipbuilding & Marine Engineering (DSME) is being rocked by estimated trillions of won (billions of U.S. dollars) of accounting fraud amid the ongoing restructuring process for Daewoo as well as other two shipbuilders, says a report in Xinhua.  






 
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