Shipbuilding has been part of South Korea’s economic miracle for almost 40 years. But shipbuilders are suffering a crisis of confidence today. It’s time for the country to decide whether it has a future in modern shipbuilding
Lower loss was due to the completion of problematic projects and lower material costs.
Singapore rig builder Sembcorp Marine (Sembmarine) said today that profit for 2Q16 fell 90.5% year-on-year to SGD10.74 million (USD8.01 million), amid weak demand for rigs that saw orders being cancelled or delayed.
Even if cash-strapped South Korean shipbuilder STX Offshore & Shipbuilding is to continue operating under court-led administration, it would still have to struggle through four more years of losses, an auditor’s assessment has concluded.
Penta-Ocean Construction, a Japanese specialist in port construction, tunnelling, and dredging, has ordered a work vessel from compatriot shipbuilder Japan Marine United (JMU).
Japan Bank for International Co-operation (JBIC) has announced that it has signed a project financing agreement for building a 178,000 m3 LNG carrier.
Hyundai Heavy Industries’ (HHI's) KRW3.5 trillion (USD3 billion) management plan is viable, according to an audit requested by the South Korean shipbuilder’s creditors.
South Korean shipbuilder Hyundai Mipo Dockyard has won an order for a ro-ro ferry from Weidong Ferry.
China’s Nantong Mingde Heavy Industries has lost a final arbitration claim against Algoma Central as the UK Arbitration Tribunal in London has ruled in favour of the Canadian bulker owner over a contract dispute involving a fourth and final shipbuilding contract.
Search and rescue operation under way following blast at Huaxin Shipbuilding in Jiangsu Province