Woes Mount for ABG Shipyard
The Indian ministry of defence (MoD) has terminated the contracts with India's ABG Shipyard, which already was out of the race for $2.6-billion four Landing Platforms Docks (LPD). This comes as another serious setback to the Shipyard after it was listed as non-performing asset (NPA) accounts by the Reserve Bank of India (RBI) for fast resolution under the insolvency law. ABG Shipyard has failed the corporate debt restructuring (CDR) carried out by ICICI bank.
Hindustan Shipyard May Get $3.1bln Order
India's Hindustan Shipyard Limited (HSL) has received a proposal from United Shipbuilding Corporation of Russia for a strategic partnership, The Hindu reported. The report said that the Russian shipyard will be placing orders worth INR 200bln (USD 3.1bln) immediately. The move came up for discussion when Andhra Pradesh Economic Development Board CEO J. Krishna Kishore recently met HSL Chairman and Managing Director Rear Admiral L.V. Sarat Babu.
HMS Queen Elizabeth Sets Sail on Maiden Voyage
Britain's most advanced and biggest warship, 65,000-tonne aircraft carrier HMS Queen Elizabeth, set out on its maiden voyage on Monday from the Rosyth dockyard in eastern Scotland. The ship, which measures 280 metres and can move 500 miles a day, took 11 tugs to manoeuvre out into the River Forth and then must wait for low tide so as to pass under the Forth's famous bridges - weather and systems checks permitting.
Austal Wins USD 584.2 million US Navy Contract
Australian shipbuilder Austal has won a $584.2 million contract to build a 14th Littoral Combat Ship for the US Navy, Reuters reported. The contract includes associated LCS class services and related material and integrated data environment support, as well as options for the construction of additional LCS, class services and post-delivery availability support, the Pentagon said in a statement. Australian…
Ever Sigma Discharges 9 millionth TEU at Los Angeles Port
Evergreen Line’s Ever Sigma container ship discharged the 9 millionth TEU (twenty-foot equivalent unit) to pass through the Port of Los Angeles in the span of 12 months, setting a new annual record for the most container throughput of any port in the western hemisphere. "Nine million TEUs is a major milestone for Los Angeles, and it’s only fitting that Evergreen Line, a longstanding customer, discharged the box that set this new Western Hemisphere record…
Rotterdam Port Contracts Four PortXL Start-ups
The Port of Rotterdam Authority is entering into a partnership with four start-ups for the development of as many innovative projects. Along with six other starters, these companies took part in the port-related accelerator programme PortXL and presented their results during yesterday’s ‘Shakedown’. The ten selected start-ups made amazing progress in the three month long PortXL programme. In fact, nine of them saw their efforts rewarded with a contract with organisations such as Van Oord…