Ship Repair Market to Reach $40Bn by 2026
Global ship repair and maintenance services market is expected to grow from USD 18.89 Billion in 2018 to USD 39.93 Billion by 2026 at a CAGR of 7.04% during the forecast period from 2019-2026.According to report published by Fior Markets, the key contributing factors for the market growth are increase in the demand for new ships and activities, shortening of supply chains in ship repair and maintenance services, increased seaborne trade against the backdrop of recent economic boom…
APAC Marine Coatings Market to Hit $12Bln in 2024
The marine coatings market demand by 2024 will rise exponentially driven by rapid surge in trade activities worldwide has led to increase demand from the shipbuilding sector.APAC marine coatings market valuation to hit $12Billion by 2024. According to International Marine Organization (IMO), over 90% of global trades are conducted via ships.Meanwhile, the International Transport Forum (ITF) Outlook 2019 estimates that the global freight volumes are likely to increase by 11% by…
MODEC Unveils New FPSO Designs
Japanese floating production specialist MODEC has developed a pair of next generation new build hull designs for floating production, storage and offloading (FPSO) vessels developed in partnership with Mitsui E&S Shipbuilding, targeting greater production and storage capacity.As a result of increases in required crude oil and gas production capacities, FPSO topsides have become bigger and heavier, which has led to insufficient deck space area and insufficient crude oil storage capacity on on converted very large crude carriers (VLCC), MODEC said.
Troubled Pula Shipyard Placed into Bankruptcy
Croatia's ailing shipyard in the northern Adriatic city of Pula was placed into bankruptcy by a commercial court on Monday after an almost year-long effort to keep it afloat.The shipyard belongs to Uljanik, Croatia's largest shipbuilding group, which also owns another troubled dock in the northern Adriatic city of Rijeka. A decision on the shipyard in Rijeka is scheduled for June 5.The Pula shipyard has an outstanding debt of 164.8 million kuna ($25 million). Local media reported that it has 1…
Chinese Shipbuilder Mulls Croatia Yard Investment
A delegation from a leading Chinese shipbuilding company has arrived in Croatia for talks about a possible investment in the country's largest shipbuilder Uljanik, which is struggling to avoid bankruptcy.Officials from the China Shipbuilding Industry Corporation (CSIC) met Croatia's Prime Minister Andrej Plenkovic and his economic team on Monday and will visit Uljanik's docks in the northern Adriatic later this week."After the visit to the docks we will give full and serious consideration to this matter," CSIC's Chief Executive Hu Wenming told reporters. He said the delegation included lawyers and investment bankers to advise on any investment.Uljanik…
First LP-SCR System Successfully Completed in M/V Southern Pearl
The first commercial Low Pressure SCR system (LP-SCR)system from Japan Engine Corporation (J-ENG) has entered service onboard a major Singaporean container lines, PDL International’s 600TEU container vessel, M/V Southern Pearl.The system has supplied to a 6UEC33LSE-C2 engine, manufactured by J-ENG’s Chinese licensee, China Shipbuilding Industry Corporation Diesel Engine Co., Ltd. (CSE) and the vessel was built by Taizhou Kouan Shipbuilding Co., Ltd.Since J-ENG’s SCR system is compactly designed…
Upgraded Wärtsilä 20 Engine Attracts Multiple Orders
Wärtsilä has received a series of notable orders for the upgraded version of its Wärtsilä 20 engine.A total of 33 engines have been ordered for merchant auxiliary power application in three major shipbuilding projects. The orders, which were booked in June, have been contracted with Wärtsilä Qiyao Diesel Company Ltd (WQDC), the joint venture company of Wärtsilä and Shanghai Marine Diesel Engine Research Institute (SMDERI).The engines will be installed in 11 new vessels being built in shipyards owned by China Shipbuilding Industry Corporation (CSIC).
20,000 TEU Cosco Shipping Gemini Delivered
The 20,000 TEU containership Cosco Shipping Gemini was officially named and delivered. The vessel was built by the Chinese shipyard Dalian Shipbuilding Industry (DSIC) for Chinese owner Cosco Shipping Lines. Chief Financial Officer of Cosco Shipping, Sun Yueyin, attended the naming ceremony. She named the vessel and cut the ribbon. President and Deputy Party Secretary of China Shipbuilding Industry Corporation (CSIC), Sun Bo; Party Secretary of Cosco Shipping Lines, Qian Weizhong…
Wärtsilä Signs on Shuttle Tanker Development Project
Wärtsilä has signed a joint industry project cooperation (JIP) undertaking with Dalian Shipbuilding Industry Company (DSIC), a part of the China Shipbuilding Industry Corporation. The objective of the JIP is to develop a preliminary production level design for a 127,000 dwt shuttle tanker that may be built by DSIC with DNV-GL classification. The agreement was signed in October 2017. The demand for shuttle tankers is forecasted to increase, and this joint project is intended to generate a high level design concept with a dynamic positioning (DP) system that can be offered to potential owners.
The Switch Partners with Shipbuilder CSIC
Drive train technology specialist The Switch has become one of the first foreign companies to sign a partnership agreement with Chinese shipbuilding conglomerate China Shipbuilding Industry Corporation (CSIC). On Monday, September 11, The Switch entered into a strategic partnership agreement with CSIC/711, which operates under the direct jurisdiction of CSIC as the sole R&D institute of marine diesel engines in China. A leading state-owned enterprise, CSIC is one of China’s largest shipbuilding and ship repair groups.
CSSC to Restructure
The primary contractor for China's naval force China State Shipbuilding Corp (CSSC) is preparing a major asset reorganization involving its two subsidiaries, reported China Daily. The companies have halted stock trading on the Shanghai Stock Exchange The announcement said that whether the reforms take place would be decided in the next 10 trading days. CSSC Holdings Ltd and CSSC Offshore and Marine Engineering Co Ltd both acted upon the notices from their parent company about the potential asset reform by suspending their stock trading. The CSSC group is the parent of three listed companies.
China Launches World's Largest Bulk Carrier
China launched world's largest bulk carrier 'Ore Tianjin' in the port city Qingdao, east China's Shandong Province, reported China Daily. The mammoth ore ship, built by the Wuhan subordinate of China Shipbuilding Industry Corporation (CSIC), can carry 400,000 metric ton deadweight (DWT). It will go into service for ore transportation between China and Brazil upon delivery, which is expected in April 2018. At 362 meters long, 65 meters wide and 30.4 meters deep, and a deck equivalent to three soccer fields, it's 25 meters longer than the world's largest aircraft carrier USS Gerald R. Ford.
GNH to Expand Oerations in Northern UAE
Gulf Navigation Holding (GNH) announces the initiation of studies for large expansion of its operations in the northern region of the United Arab Emirates consisting of a set of comprehensive maritime activities, (the GNH Northern Project), including ship building, ship repair and offshore platforms, equipment and services, logistics, marine specialized operations and global mobile ship repair and services including a float and during voyage. The eastern coast of the United Arab Emirates is considered one of the most important trade route in the world and berthing areas and it is the world’s second leader in the supply and ship refueling/ bunkering, per studies at least over 200 work boats are employed for offshore support and supply in the eastern coast.
Chinese Shipyard DSIC Acquires FORAN
The SENER engineering and technology Group has signed a contract with the Chinese shipyard Dalian Shipbuilding Industry Co. Ltd. (DSIC) for the implementation of the shipbuilding CAD/CAM System FORAN, developed by SENER. DSIC is operated under the China Shipbuilding Industry Corporation (CSIC), which is a public company that has been listed on the stock market. The license contract has been signed between SENER, DSIC and SENER´s partner in China, United Force Corporation. The scope of the contract includes the installation of permanent licenses of the FORAN System in different disciplines including hull forms and naval architecture, hull structure, machinery and outfitting, electrical design and drafting.
SENER Celebrates 50 Years of FORAN
The SENER Group division in Shanghai held a 50th anniversary celebration of FORAN system where it also presented its new version V80. More than 100 attendees from 40 companies including shipyards, design offices, classification societies, universities and partners attended the event. The event received endorsement from Embassy of Spain and CDTI (Spain’s Centre for the Development of Industrial Technology) with participation of representatives. The Economic and Commercial Consul from Economic and Commercial office in Shanghai of Embassy of Spain…
China Shipping 21,000 teu Order for SWS
China Shipping Group's CSCL has agreed a deal to bareboat charter up to 11 units of 21,000 teu containerships, of which five will be options exercisable after six months of charter for the first six ships, says local media reports. It has confirmed the 21,000 teu containerships to be built at Shanghai Waigaoqiao Shipbuilding (SWS). The ships will be chartered from China Shipping Nauticgreen Holdings, subsidiary of China Shipping (Group) Company. “The charter hire is determined…
Shanhaiguan Books Order for Six Containerships
China’s Shanhaiguan Shipbuilding Industry has booked an order to build up to six feeder containerships for Dalian Port Wantong Logistics and Dalian Jifa Ship Management. The newbuilding contract will see the affiliate yard of China Shipbuilding Industry Corporation (CSIC) construct two 1,100 teu boxships, plus an option to build four more similar vessels. The container vessels are expected to be deployed in domestic waters and along the Yangtze River. The 20,000 dwt newbuildings will be 152 meters long, 25 meters wide, with a draft of 9 meters.
China COSCO Orders 11 New Boxships
China COSCO has ordered 11 container ships from four Chinese shipbuilders in a $1.51 billion order that will propel the country's largest shipping line into the big league of giant vessel owners. The ships, which will have the capacity to carry up to 19,000 20-foot containers (TEU), will be delivered by the shipyards in 2018, COSCO said in a stock exchange statement late on Wednesday. Such huge box ships are in hot demand as shipping lines try to lower costs, particularly on Asia-Europe trade routes, amid a persistent slump in the global shipping market. COSCO's order follows Hong Kong's Orient Overseas International Ltd's $997.55 million order for six 21…
Evac's Total Waste Management for Atlantic Mercy
The global cleantech company Evac has been chosen to supply its total waste management system to the world’s largest civilian hospital ship, the Atlantic Mercy. Owned and operated by the nonprofit Mercy Ships, the ship will provide medical care in the poorest parts of Africa. The vessel is now being constructed by the China Shipbuilding Industry Corporation at the Tianjin Xingang Shipyard. The contract to supply the vessel was signed in May 2015 for delivery in 2016. Konstantin Tchetchine…
China Probes Executives of CSIC, COSCO
China Shipbuilding Industry Corporation (CSIC) and China Ocean Shipping Company (Cosco) are being probed in China’s national anti-corruption scheme, according to a report in the Reuters. The Central Commission for Discipline Inspection (CCDI) has not named any company executives as targets for individual inspection. CCDI is the highest internal-control institution of the Communist Party of China (CPC). The watchdog did not name any executives as targets for individual inspection in its statement…
China Adds 9 Shipyards to Favored 'White List'
China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market. In September, it published a list of 51 yards which it later cut to 50. These yards, which it says are judged to comply with requirements such as ship emissions, are expected to get favourable policy support, such as bank credit and export tax rebates. The nine include subsidiaries of state-backed firms China State Shipbuilding Corporation…
China Names 9 Shipyards for 'Favorable' Treatment
China has added nine shipyards to its "white list" of firms deemed worth of favourable policy support, as it attempts to tackle overcapacity that has weighed on the global shipping market. In September, it published a list of 51 yards which it later cut to 50. These yards, which it says are judged to comply with requirements such as ship emissions, are expected to get favourable policy support, such as bank credit and export tax rebates. The nine include subsidiaries of state-backed firms China State Shipbuilding Corporation, China Shipbuilding Industry Corporation, China Ocean Shipping (Group) Company and Aviation Industry Corporation of China , according to the list put up on the Ministry of Industry and Information Technology's website on Wednesday.
China Lists 51 Shipyard 'White List'
China has released its first "white list" of 51 shipyards that it deems worthy of favourable policy support, as the world's largest shipbuilder strives to tackle over-capacity that has slammed the global shipping market. The government said last year that shipbuilders that complied with its requirements in areas like ship emissions would be put on a white list for favourable policy support, such as export tax rebates and bank credit. The list published on the Ministry of Industry…