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
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 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
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
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.
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
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.
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
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
Daewoo Shipbuilding and Marine Engineering (DSME) has succeeded in producing the nation’s first integrated combat system, which serves as the brain of attack submarines. The integrated combat system detects, tracks and identify targets and help accurately evaluate tactical and
Horizon Shipbuilding, Inc. of Bayou La Batre, Alabama has delivered the M/V A.B. York, a 120’ towboat, to its longtime customer Florida Marine Transporters (FMT).This is the nineteenth vessel delivered to FMT by Horizon and the ninth 120’ towboat.
Daewoo Shipbuilding & Marine Engineering Co. (DSME) plans to spin off its IT business unit next year in an effort to streamline its business structure, reports Yonhap. The unit, provisionally named DSME Information System, will be started on Jan. 1, the company said
With familiar faces, new partnerships and Houston office, Damen widens its North American profile with a flurry of new work orders. With a flourish and a flurry of new business, Damen’s new U.S.-based office officially opened in Houston, Texas on July 1, 2016
Creditors of Daewoo Shipbuilding & Marine Engineering (DSME) are set to announce a debt-for-equity swap and other measures, worth 3 trillion won (US$2.62 billion), reports Yonhap. Korea Development Bank (KDB), a main creditor of DSME
The Belgian dredging, environmental and marine engineering group DEME Group and Chinese COSCO Shipping have officially embarked on a joint journey to develop offshore wind energy in China, under an umbrella agreement signed on 31 October
As part of its Coastal Community Development Program under Sagarmala, the Ministry of Shipping has sanctioned Rupees 10 Crore ($1.5 mln) as part of the first instalment to the Gujarat Maritime Board for capacity building and safety training of 20
As in many sectors of economic activity, provision of just the right amount of capacity is a tricky business, and the shipbuilding industry is no exception, says Clarksons Research. As a result, in stronger markets the ‘lead time’ between ordering and delivery extends
By Erik Matzen and Nikolaj Skydsgaard Swedish utility Vattenfall has won a tender to build Denmark's biggest offshore wind farm, but still faces the potential cancellation of a separate wind project in the country, the Danish energy ministry said on Wednesday.
Designer and builder of specialized vessels Vard Holdings Limited announced its financial results for the third quarter ended September 30, 2016 (3Q 2016) and nine months ended September 30, 2016 (9M 2016). VARD said its diversification strategy is continuing to yield promising
Struggling Daewoo Shipbuilding & Marine Engineering Co Ltd's will receive an injection of 2.8 trillion won ($2.4 billion) from two state-run creditor banks to save it from being delisted, one of the lenders said. Daewoo's main creditor, Korea Development Bank (KDB)
STX Offshore & Shipbuilding has got the green light to carry on operations. A Seoul court today approved its rehabilitation plan, saving the yard, once the world’s fourth largest, from liquidation, reports Yonhap. STX Shipbuilding, once South Korea's No
In the last month, we have seen the Baltic Dry Index (BDI) recover to the same level it was 12 months ago (see circles in fig.1). Vessel values have started to firm, but not at the same rate and are still at historically low levels.
Rederij Doeksen has contracted Damen Shiprepair Harlingen to carry out the conversion of its 47.15-meter-long freight catamaran, Noord-Nederland. The conversion work will provide Rederij Doeksen with increased capacity to manage seasonal fluctuations in freight demands.
Newbuilding prices have fallen fairly consistently since the end of 2014, and this trend has continued in recent months, says Clarksons Research. Cutting newbuild prices can be an effective way for yards to stimulate new orders, but this is not always the case.