Offshore Engineering Co Ltd News

The next generation ultra large liquefied carbon dioxide (LCO2) carrier for Hyundai Heavy Industries Group (HHI) and Hyundai Glovis has received an approval in principle (AIP) at Gastech from ABS and the Republic of the Marshall Islands (RMI) Maritime Administrator.The 74,000 m3 design builds on the 40,000 m3 “super gap” technology developed in 2021 by HHI, Hyundai Glovis, G-Marine Service, and Korea Shipbuilding & Offshore Engineering Co., Ltd. (KSOE).A total of nine cylindrical…

A next generation ultra large, liquefied carbon dioxide (LCO2) carrier being developed in a groundbreaking project between ABS, Hyundai Heavy Industries Group (HHI), and the Republic of the Marshall Islands (RMI) Maritime Administrator is said to be the world’s largest in terms of LCO2 capacity.The 74,000cm3 design builds on the 40,000cm3 “super gap” technology developed in 2021 by HHI, which includes Hyundai Glovis, G-Marine service, and Korea Shipbuilding & Offshore Engineering Co.…

Bureau Veritas (BV) has delivered an approval in principle (AIP) for BV’s ‘Cyber Managed Prepared’ notation to Hyundai Heavy Industries Co., Ltd. (HHI) and Korea Shipbuilding & Offshore Engineering Co., Ltd. (KSOE) for its vessel design.The maritime industry is growing ever more connected, with the majority of newbuild vessels today being built with integrated digital systems on board. While this increased digitalization enables ship owners and managers to collect data and exchange information with their vessels, it also leaves ships vulnerable to cyber risks, BV said.

Avenir LNG announced it has entered into a time charter party (TCP) with Shell for the newbuild 20,000-cubic-meter capacity liquefied natural gas (LNG) bunkering supply vessel Avenir Achievement.Avenir LNG, a joint venture between Stolt-Nielsen, Hoegh LNG and Golar LNG, said the time charter is expected to begin in the first quarter of 2023 and will run for a period of three years with an option to extend up to five years.Avenir Achievement is scheduled to be delivered from Chinese builder Nantong CIMC Sinopacific Offshore & Engineering Co. Ltd (CIMC SOE) in the second quarter of 2022.

Bureau Veritas (BV) has delivered an approval in principle (AIP) to Hyundai Heavy Industries Co., Ltd. (HHI) and Korea Shipbuilding & Offshore Engineering Co., Ltd. (KSOE) for its innovative design and development of an ammonia carrier with ammonia-fueled propulsion.Ammonia, which continues to gain interest as a marine fuel worldwide, is one of the main alternative fuel options currently considered by shipping for net zero operations, in line with the targets set up by the International…

The United States on Wednesday blacklisted 24 Chinese companies and targeted individuals it said were part of construction and military actions in the South China Sea, its first such sanctions move against Beijing over the disputed strategic waterway.The U.S. Commerce Department said the two dozen companies played a “role in helping the Chinese military construct and militarize the internationally condemned artificial islands in the South China Sea.”Separately, the State Department said it would impose visa restrictions on Chinese individuals “responsible for…

Shares in South Korean shipbuilders rallied more than 20% on Tuesday following $19 billion worth of deals to build vessels for Qatar Petroleum (QP).QP said on Monday it has signed agreements with South Korea's "Big 3" shipyards to secure more than 100 ships costing over 70 billion Qatari riyals ($18.65 billion), describing the deals as "the largest LNG shipbuilding in history."The agreements signed with Daewoo Shipbuilding & Marine Engineering Co Ltd, Hyundai Heavy Industries…

MAN Energy Solutions won a contract to supply individual MAN B&W ME-LGIP (Liquid Gas Injection Propane) dual-fuel engines to three 5,000-cubiic-meter-capacity liquefied petroleum gas (LPG) tankers currently under construction by CIMC Sinopacific Offshore & Engineering Co., Ltd. (CIMC-SOE) in Shanghai for German shipping company Hartmann Gas Carrier.Each newbuilding will receive a propulsion package featuring one 5S35ME-LGIP engine with an Alpha controllable pitch propeller, power take-off (PTO) and propulsion control system (PCS).

The Competition and Consumer Commission of Singapore (CCCS) has expressed concern about the agreement of fusion notified from the South Korean shipbuilding groups Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering Co. (DSME).The authority antitrust of Singapore has raised competition concerns with the proposed acquisition by Korea Shipbuilding & Offshore Engineering Co., Ltd. (KSOE) of a majority interest in DSME and the intended integration of the businesses of KSOE and DSME.Earlier, on 12 September 2019, CCCS accepted an application from KSOE for a decision on whether the Proposed Transaction infringes section 54 of the Competition Act (Cap.

Engineering services firm McDermott International announced that its joint venture Qingdao McDermott Wuchuan Offshore Engineering Co. Ltd (QMW) in Qingdao, China, has been awarded a contract to provide three complex modules for the Arctic LNG 2 Project in the Yamal-Nenets Autonomous Region in Russia.McDermott defines a large contract as between $50 million and $250 million. The designation refers to McDermott’s share of the award via its joint venture."This award recognizes QMW's experience and excellent performance in the Arctic on an earlier Yamal LNG project. It is further evidence that QMW is a tier one module fabricator in the LNG market.

Bermuda registered Avenir LNG Limited announced that it has agreed with Keppel Singmarine to cancel the options to build its 3rd and 4th 7,500 cbm LNG carriers at Keppel Nantong.Avenir is scheduled to receive delivery of two 7,500 cbm LNGC’s, already on order, from Keppel Singmarine in December 2019 and March 2020.Avenir LNG Limited is a Bermuda registered company established for the purpose of developing the small scale global LNG market by sourcing, shipping, storing and distributing LNG to the end customer in areas of stranded demand.As reported two days ago, Avenir signed contracts with Nantong CIMC Sinopacific Offshore & Engineering Co. Ltd.

Chinese shipbuilder CIMC Sinopacific Offshore & Engineering Co. Ltd. (CIMC SOE) has completed the first two vessels in a series of five liquid ethylene gas (LEG) carrier newbuilds for a Chinese ship owner. The series includes two 17,000- and three 22,000-cubic-meter capacity LEG carriers, with the smaller two vessels named and one delivered during a ceremony on March 28. The delivery marks a significant occasion for the shipyard, which was reorganized in August 2017 after filing for bankruptcy in 2016.

CIMC Enric, an affiliate company of China International Marine Containers (CIMC), has announced that it has terminated the acquisitions of Sinopacific Offshore & Engineering (SOE), the offshore unit of Sinopacific Shipbuilding. CIMC Enric said the Board decided not to proceed with the proposed acquisition of the entire equity interest of SinoPacific Offshore & Engineering Co., Ltd. as certain conditions precedent have not been fulfilled or waived. Last year, CIMC  has struck a deal with Evergreen Holding and its subsidiaries to acquire Nantong SOE for at least CNY700 million (USD109 million) in cash and shares. In the meantime, the Board is considering various alternatives in protecting the rights and values of the Group's interests in the target company…

Zentech Incorporated of Houston, Texas, USA signed contracts with CSSC Huangpu Wenchong Shipbuilding Company Limited for the construction of (2) Z-210 Mobile Offshore Units. These contracts were finalized based on the Letter of Intent received by CSSC Huangpu Wenchong Shipyard on September 23,2015. The Z-210 is a self-propelled, self-elevating, DP-2 capable, ABS Class, high temperature (55 deg Celsius) rated 4-legged mobile offshore unit capable of operating in water depths of up to 280 feet. The wide array of unique and innovative features of the Z-210 has already captured the attention of operators and one of these units has already been secured by an undisclosed operator in Asia!

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.

McDermott International, Inc. announced today that one of its joint venture companies, Qingdao McDermott Wuchuan Offshore Engineering Co. Ltd. (“QMW”), recently completed a fast-track compression process module fabrication subcontract for Jord Oil & Gas Systems B.V. (“JOGS”). JOGS is the prime contractor for the process modules for the jack-up compression platform which will connect to the PEMEX Akal G-1 platform offshore Mexico. The scope of work, awarded in the first quarter 2014, included construction-engineering, procurement of bulk materials, fabrication, pre-commissioning and transportation of three process modules, related skids and a flare boom.

EBITDA of $37 million is reflecting stable earnings both from chemical tankers and tank terminals in the third quarter. For the chemical tankers business, activity over the summer and through the third quarter held steady and was in line with the second quarter on both contract nominations and spot activity. In September Odfjell signed shipbuilding contracts with Nantong Sinopacific Offshore & Engineering Co., Ltd for the construction of four LPG/Ethylene carriers of 17,000 cbm. This newbuilding order is an important step in our strategy to grow and become a significant operator in the gas market. Our shareholding in tank terminals business contributed an EBITDA of $7 million in third quarter, the same as in previous quarter.

Odfjell signed shipbuilding contracts with Nantong Sinopacific Offshore & Engineering Co., Ltd for construction of four LPG/Ethylene gas carriers of 17,000 cbm. During the last years this shipyard has delivered several gas carriers, and is regarded to have one of the very few construction facilities in China able to meet Odfjell's quality standards for building of such ships. Deliveries are scheduled between October 2015 and May 2016. The contract price in total is in the region of $180 million (USD). Odfjell has also secured various options for delivery of up to four additional gas carriers. Today Odfjell is operating two LPG/Ethylene carriers of 9,000 cbm.

After Mazagon Dock Ltd, two more defence ministry-controlled shipyards are looking for private partners to build warships to meet rising demand from the Indian Navy and the Coast Guard, according to a report on www.LiveMint.com. Hindustan Shipyard Ltd and Garden Reach Shipbuilders and Engineers Ltd reportedly have received expressions of interest from 8-10 private shipyards in response to tenders floated last month. While separately inviting expressions of interest for joint venture partnerships last month, the two shipbuilders said in similarly worded advertisements on their websites that they were “looking at a joint collaborative strategy to meet the challenging timelines in order to liquidate the existing order book as well as expected orders from the Indian Navy and Coast Guard…

Hamworthy Oil & Gas Systems has continued the major advance in China’s broadening gas carrier construction sector by securing more contracts for delivery of complete cargo handling systems to two liquid ethylene gas (LEG) carriers to be built at Sinopacific Offshore & Engineering Co. Ltd (SOE) in Nantong. The 12,000m3 capacity, 139m long semi-pressurised and refrigerated LEG carriers, will be incorporated in the ongoing project for the construction of six ships ordered by Luxembourg-based Jaccar Holdings/Eitzen Ethylene Carriers.

McDermott International Inc said that a subsidiary of group company J Ray McDermott has set up a joint venture with a unit of state-owned China Shipbuilding Industry Corp. The joint venture - Qingdao McDermott Wuchuan Offshore Engineering Co Ltd - plans to establish a facility in Qingdao, in eastern China's Shandong province. The new company plans to focus on the construction of floating production, storage and off-loading (FPSO) vessels, US-listed McDermott said in a statement.FPSOs are used in the offshore oil and gas industry. The vessels take oil and gas from platforms, and process and store them until they can be offloaded onto tankers or into pipelines. (Source: www.tradingmarkets.com)

Jiangsu Yangzijiang Offshore Engineering Co. Ltd. signs contract for the rig with Creon associate company Explorer 1. The directors of Creon the resources infrastructure investment company, announce that Jiangsu Yangzijiang Offshore Engineering Co. Ltd. has entered into a contract valued at US$170-million with Explorer I Limited to construct and deliver a Le Tourneau Super 116E Class design self-elevating mobile offshore jack up drilling rig. Delivery of the Rig is anticipated in the second quarter of 2015. It will be built to ABS Classifications and capable of drilling to 30,000 feet in sea depths of up to 350 feet. The rig will be fully equipped with state of the art drilling equipment and will have accommodation for 120 people.