The end of Chinese container specialist Zhejiang Ouhua Shipbuilding, which once was a star performer in China's shipbuilding industry.
Imabari won orders for 89 ships in the last fiscal year, including bulkers and large container ships.
Japan’s shipping major has sealed a three-year charter deal with US energy group Koch for a newly constructed VLCC.
The newbuildings have a total contract value of KRW123.8 billion (USD109.4 million), or USD27.4 million per unit, and delivery is set for March 2020.
Evangelos Marinakis’ Capital Group has booked four LNG carrier newbuildings with South Korea’s Hyundai Heavy Industries.
South Korean shipyards have called on steelmakers to keep the prices of shipbuilding steel plates at current levels amid declining orders and stiff competition with Chinese rivals.
In a restructuring plan submitted to Changwon District Court, Sungdong said another 500 jobs would be scrapped, after an earlier round of voluntary resignations and retirements saw 300 workers leave the business in May.
Tui said the two 161,000 gt prototype vessels, which are scheduled for delivery in 2024 and 2026, would be powered by liquefied natural gas, but gave no details of their other eco-friendly features.
The South Korean shipbuilder has said it will temporarily shut its offshore yard in August once the remaining offshore plant is completed.
Both companies said the establishment of the shipbuilding JV will help financially troubled Jiangzhou Union Shipbuilding to restore client’s faith and restructure its shipbuilding business.