Report: IHI, JFE to Merge Shipbuilding Units

Monday, January 30, 2012
Reuters is reporting that JFE Holdings Inc and IHI Corp will merge their shipbuilding units in a bid to remain competitive as demand for vessels contracts and Chinese rivals undercut operations hobbled by a strong yen. JFE Holdings and IHI said they aim to finalize an agreement by August, with operations to begin next year.

People & Company News

MN100: Viega LLC

The Company: Viega was founded in Germany in 1899. By 1901, the company began to manufacture home plumbing products, growing and expanding internationally. In 1999,

Abu Dhabi Ship Building Commissions First Floating Dock

Abu Dhabi Ship Building PJSC (ADSB) has commissioned its first floating drydock located in Mina Zayed as the company looks to expand its commercial service offering.

MN100: Glosten

The Company: Glosten is an employee-owned full-service consulting firm of naval architects, marine engineers, electrical engineers, and ocean engineers. Founded in 1958,

Shipbuilding

Abu Dhabi Ship Building Commissions First Floating Dock

Abu Dhabi Ship Building PJSC (ADSB) has commissioned its first floating drydock located in Mina Zayed as the company looks to expand its commercial service offering.

NAT Names 2 New Tankers in South Korea

wo new tankers, Nordic Star and Nordic Space, were named August 24 for owner Nordic American Tankers Limited (NAT).   NAT founder and chairman Herbjørn Hansson was present at the naming ceremony,

Japanese Yards Mull Shipbuilding Alliance

Four major Japanese shipbuilders are in discussions to form an alliance in hopes of riding out the industry slump.   Mitsubishi Heavy Industries, Ltd. (MHI) announced

Finance

OSV firm Farstad Continues Restructuring Talks

Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. 1   Notable disclosures: * CEO says is talking

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

China Cosco Sinks into Red

Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half,

 
 
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