Intensive cost-cutting, as well as the completion of major projects such as floating central processing facility for the Ichthys LNG project, resulted in the significant improvement in SHI’s earnings.
Japan's Tsuneishi Holdings Corporation announces plans to secure 50 ship orders this year, diversifying its offerings to include container ships and tankers.
South Korean shipbuilder STX Offshore & Shipbuilding has won orders to build products tankers, marking the shipbuilder’s first order in 17 months since going into receivership.
SanThis is the second order sangji has placed this year, the first being with Hyundai Mipo Dockyard in January.
The ships will be operated by the Gothia Tankers Alliance which has a series of product tankers already, as well as a further 15 coastal tankers ranging from 6,000 to 8,000 dwt.
South Korean shipbuilder DSME recorded a KRW261 billion (USD230 billion) net profit for the first quarter of 2017, recovering from a KRW3.4 billion net loss in the same period in 2016.
Hyundai Heavy Industries, the world’s largest shipbuilder today reported first quarter net profit of USD409 million, with operating profits buoyed by the business divisions, job cuts, and increased sales in the shipbuilding business.
Trans-Atlantic trade in petrochemical industry feedstock has been bolstered by the entry into service of a 38,000 m3-capacity liquefied ethylene gas carrier for the long-term transportation of ethane from the United States to the United Kingdom.
HHI, which includes subsidiaries Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard, said in a Korea Exchange filing that in the year to date the group has won firm orders for 39 vessels worth USD2.3 billion, a three-year high.
South Korean banks agree to extend refund guarantees for vessels DSME wins to ensure security of new orders under the new second bailout package.