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. Cascade General has leased the facility from Portland Port Authority since 1995, when it became the sole shiprepairing company in the port. Since then Frank Foti, Chairman of Cascade General, and future head of the new operation, has been looking to complete the buy-out. Cascade General currently has an annual turnover of some $100 million and wins virtually half of all commercial contracts that are placed with U.S. West Coast shiprepair yards. There are three main markets in which the yard operates — passenger vessels (the many cruise vessels now operating on the Alaskan service), tankers (the many large tankers operating between Alaskan terminals and US refineries) and U.S. Navy and auxiliary market. Last year the yard carried out a complicated conversion project involving a Drillship for Global Marine
Scheldepoort Repair & Conversion Yard won a Royal Netherlands Navy contract to modernize and upgrade the propeller shaft lines and generator sets of four Air Defenxe and Command Frigates. Part of the Damen Shipyards Group, Scheldepoort is based in Vlissingen in the south of the Netherlands, and specialises in maintenance, modifications, repairs and refits. Peter Sterkenburg, Sales Manager at Scheldepoort, comments: “After an extensive negotiation period
Aker Yards ASA said it won an order from DOF ASA for a diving support vessel (DSV), and a contract from DOFCON ASA and Technip for a second DSV. For DOF, Aker Yards will build a DSV based on Aker Yards' Aker DSV06 design, while the other DSV will be to the Aker OSCV-06L DSV design. Source: Forbes
Mark Newbold, who qualified for the finals after winning the western region’s Entrepreneur of the Year Award in the products category, established Strategic Marine in 2001 with the goal of launching a global shipbuilding company. His company now employs around 1,800 staff at its shipyards in , , and , and has signed more than 120 orders worth over US$230 million in the past year alone. “It is personally gratifying to win this award,” said Mr Newbold.
While South Korean shipbuilders continue to enjoy another good year, representatives from three of the world’s largest yards reportedly are angling to focus on securing more ‘strategic’ orders to keep momentum, according to a report in the Korea Times. Korean yards are facing increasing pressure from Chinese shipbuilders, and to maintain its world lead the strategy includes a focus on these strategic orders
Masa-Yards, a unit that Kvaerner has put up for sale, could cooperate in building vessels with the Polish Gdynia shipyard, a group official said. Gdynia shipyard had planned to bid for Masa-Yards, but a consortium formed by Kvaerner won the support of the Finnish government to keep the group's two yards in Helsinki and Turku in Finnish hands. Kvaerner officials said that through cooperation and lower labor costs in Poland, Masa-Yards could gain a competitive edge on other Western shipbuilders
Aker Yards Lifecycle Services and Birka Line have signed a contract for the refurbishment of the spa area on board the Birka Paradise. The contract is worth approximately $2.7m. The refurbishment is scheduled for completion in January 2008. The scope of work onboard the cruise ship Birka Paradise includes the extension and refurbishment of the spa area (treatment rooms, saunas, showers and other spa facilities). This is the fourth spa refurbishment contract won by Aker Yards in the last
The South Korean shipyard STX Offshore & Shipbuilding is apparently close to a bankruptcy if not yard soon find new vendors who are willing to pump huge sums into the yard. Otherwise, there is the prospect of a collapse in the first half of the 2016th. STX Shipbuilding CEO Lee Byung-Mo recently sent a message to its employees, saying, “If we operate our company the way it is without special countermeasures
Nordic Yards receives Top 100 award from the Vienna University of Economics and Business at a Berlin ceremony. At a ceremony for the Top 100 companies at the Axel Springer Passage centre in Berlin, journalist and TV host Ranga Yogeshwar presented Nordic Yards’ managing director Vitaly Yusufov with the Top 100 prize for innovation. Nordic Yards is one of the companies whose innovative ideas are driving forward the shift to renewable energy
Korea's DSME Okpo shipyard wins its first order for a Malaysian LNG – FPSO facility DSME says it has won its first order for an LNG-FPSO from Pretroliam Nasional Berhad, Malaysia`s state-operated oil company. The design of this project is a joint effort between DSME and Technip, a France based offshore plant design company. The LNG-FPSO will be 300m long, 60m wide, and have the capacity to store up to a maximum 180,000㎥ LNG with an annual handling capacity of 1.2 million tons.
Global ship demolition activity rose by 16 percent in the first nine months of 2016 in comparison to the same period of 2015, showcasing shipping industry action to counter the imbalance between supply and demand in the market, according to BIMCO.
South Korean shipyard Hyundai Heavy Industries emerged from the third quarter with a black bottom line, although with a smaller profit than in the previous quarter, thanks in part to reduced costs and improvement in its non-shipbuilding business.
Damen delivers stock CSD450 dredger within three working days On Monday, September 19, a Damen CSD450 started winning sand at the Frisian motorway project contractor Van der Lee is working on, just days after the sales contract was signed the previous Thursday
The Award, for the ‘Best Scoping or Operation of a Site Investigation’ was presented to Tony Parker, Director of Engineering at Shoreham Port and George Flower, Technical Director at Arcadis at a prestigious awards ceremony in London last week.
Astican & Astander: pair of privately owned Spanish yards continue to invest in facilities and equipment Astander and Astican are the two busiest privately owned shipyards in Spain carrying out heavy repairs and special conversion projects with a boutique style attitude towards
Marine transportation provider and the United States’ largest operator of OSVs, Edison Chouest Offshore (ECO), has teamed up with Damen to build 13 heavy duty mooring assistance and escort tugs. The vessels will be built in the U.S. using ECO’s network of five shipyards with support
Shipping conglomerate A.P. Moller-Maersk said on Monday it was striving to improve workers' rights at shipbreaking yards it uses in India after criticisms of hazardous conditions. The Danish company also expressed regret that a ship it sold this year, the "North Sea Producer"
South Korea's state-run banks are expected to raise more than 3 trillion won (US$2.64 billion) to prevent Daewoo Shipbuilding and Marine Engineering (DSME) from being delisted, reports Korea Herald. Korea Development Bank and the Export-Import Bank of Korea are planning to raise
The largest shipyard in the Caribbean and Central America, Grand Bahama Shipyard (GBSL), has reopened for business after sustaining minor damages from Hurricane Matthew. Hurricane Matthew passed through Grand Bahama Island October 6
The first batches of oil from the giant Kashagan oil field in Kazakhstan were shipped for export on Friday via two pipelines, the Central Asian nation's Energy Ministry said. Energy majors developing the field have shipped 7,700 tonnes of oil through the private CPC pipeline and 18
Developers of a new shipyard in Saudi Arabia say the facility will be the largest maritime yard in the world providing a range of services, including large shipbuilding, large ship repair, offshore rigs fabrication and offshore support vessel repair.
Semco Maritime, a global provider of communications solutions, telecoms systems integration services and collaborative applications to the offshore oil and gas industry, has won a multi-million dollar contract to deliver communications systems and infrastructure for the production platforms at the
ASRY has successfully brought one of the European tanker market’s biggest tanker fleet owners back to the yard. Euronav, the Greece-base owner, operator and manager of a fleet of 53 modern large tankers, chose ASRY for the recent repair of ‘Cap Diamant’, a Suezmax tanker
China’s two biggest state-owned shipping companies plan to merge 11 shipbuilding yards into a single entity in one of the industry’s biggest consolidation moves yet, reports Wall Street Journal. China’s two biggest state-owned shipping companies plan to merge 11
Clarksons Research takes a look at Asian shipping finance that has increased in prominence globally with finance from the traditional lending base more difficult for many to access since the global financial crisis. Within this wider trend