Huisman Unveils Jones Act Offshore Wind Feeder Solution
The Netherlands-based crane and heavy machinery manufacturer Huisman has introduced a motion compensated platform engineered for the transfer of wind turbine components from a feeder vessel offshore.The platform, which actively counterbalances the effects of vessel motions to provide a stable deck area, can be used aboard a feeder vessel for transporting components in U.S. waters since the use of internationally flagged wind turbine Installation vessels (WTIV) is restricted under the Jones Act.
China Arbitration Court Orders Korea's STX to Pay Debt
Troubled South Korea shipbuilder STX Heavy Industries Co. issued a guarantee on a loan defaulted on by its Chinese heavy machinery manufacturer, STX Dalian Heavy Industries Co., from China's Bank of Communications and has been ordered to repay the loan, reports Yonhap. Unlisted STX Dalian Heavy Industries is a wholly owned subsidiary of STX Heavy Industries and has been ordered to repay the 60.9 billion won (US$56.8 million) loan by the China International Economic and Trade Arbitration Commission after the Chinese unit failed to service the principle and interest.
IHI Cuts 1,200 Jobs
Ishikawajima-Harima Heavy Industries Co. Ltd. (IHI) will cut its work force by 1,200 from the current 13,200 by the end of March 2001. A spokesman said the company plans reduce its 560 administrative staff by 30 percent, including those in finance and general affairs. The comprehensive heavy machinery manufacturer will focus on aerospace, environment protection equipment, logistics and other areas that have large potential for growth, he said.
IHI Cuts 1,200 Jobs
Ishikawajima-Harima Heavy Industries Co. Ltd. (IHI) will cut its work force by 1,200 from the current 13,200 by the end of March 2001. A spokesman said the company plans reduce its 560 administrative staff by 30 percent, including those in finance and general affairs. The comprehensive heavy machinery manufacturer will focus on aerospace, environment protection equipment, logistics and other areas which have large potential for growth, he said. In August, IHI lowered its group net forecast for 1999/2000 to a loss of seven billion yen from a profit of five billion yen. The downward revision was due mainly to losses from its plant engineering business overseas as well as the yen's strengthening.
