Shipyards
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Western India Shipyard to be liquidated
India’s ICICI Bank has initiated insolvency proceeding against Western India Shipyard, a subsidiary ship repair yard of ABG Shipyard. Western…
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Yangfan workers votes against restructuring plan
The workers’ union of bankrupt Yangfan Shipbuilding held a vote on the restructuring plans for the shipyard yesterday, voting against…
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Palumbo looks to help out Uljanik
Croatian shipyard Uljanik has received a letter of intent from Italian shipyard group Palumbo Group to participate in the process…
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Boxship orders predicted to increase in 2018
Container shipping’s delicate supply/demand equilibrium is set to come under renewed pressure this year as a raft of new orders…
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A forgettable year is our best hope
By all accounts, 2017 was a forgettable year for shipping – which it may be the best characterisation the industry…
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Cape Shipping orders boxship quartet at Huangpu Wenchong
Greek owner Cape Shipping has signed shipbuilding contracts with CSSC-affiliated Huangpu Wenchong Shipbuilding for the construction of two 2,700 teu…
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US court papers show Keppel dished out punitive measures to 17 employees for Brazil bribery
Singapore-based Keppel Offshore & Marine has disciplined 17 employees with punishments including dismissals, demotions and big financial penalties, according to…
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Keppel’s bribe case settlement followed plea deal by former company lawyer, US court papers show
Last week’s $422m court settlement by Singapore-based Keppel Offshore and Marine with the US Department of Justice (DOJ) followed a…
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Chemical tanker order cancelled at Triyards
Singapore offshore shipbuilder Triyards Holdings has not enjoyed the fruits of a diversification drive, with subsidiary Saigon Offshore Fabrication and…
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Chinese firm to acquire STX Corporation
AFC Korea, a unit of Chinese private equity fund AFC, has been selected by The Korea Development Bank (KDB) as…
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Qingdao Yangfan Shipbuilding snubs restructuring plan
Bankrupt Qingdao Yangfan Shipbuilding has filed an application with a court in Qingdao, requesting to change the bankruptcy administrator of…
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Kawasaki Heavy Industries terminates Island Offshore contract
Japanese shipbuilder Kawasaki Heavy Industries (KHI) has terminated a shipbuilding contract with Island Offshore for the construction of well intervention…
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Hyundai Heavy Industries raising $1.2bn
South Korean shipbuilding group Hyundai Heavy Industries (HHI) has announced a plan to raise about $1.2bn via a share issue…
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Qingdao Yangfan restructuring plan proposed
Jianlong Group, the controlling shareholder of bankrupt Qingdao Yangfan Shipbuilding, has proposed a restructuring plan to rescue the yard. Under…
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Sembcorp Marine sells West Rigel rig
Sembcorp Marine subsidiary Jurong Shipyard has signed an agreement to sell semi-submersible rig to an undisclosed buyer for $500m. The…
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Keppel agrees to pay $422m to settle US bribe charges related to Petrobras scandal
The US Department of Justice (DOJ) announced on Friday that Singapore-based shipbuilder Keppel Offshore & Marine and its US subsidiary…
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Foremost Group adds newcastlemax pair at Waigaoqiao
New York-based bulker owner Foremost Group has signed shipbuilding contracts with CSSC-affiliated Shanghai Waigaoqiao Shipbuilding for the construction of two…
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Marco Polo Marine gets approval for Indonesian yard debt restructuring
Singapore’s Marco Polo Marine has received court approval for a debt restructuring of its Indonesian yard PT Marcopolo Shipyard. PT…
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Qingdao Beihai becomes the go-to yard for boxship jumboisation
Chinese state run Qingdao Beihai Shipbuilding Heavy Industry (BSIC) is rapidly building up a new revenue base as the go-to…
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H&C Marine Engineering takes over two liftboat newbuildings at Dajin Heavy
Shanghai Bestway Marine & Energy Technology has announced that its affiliate shipyard Jiangsu Dajin Heavy Industries has entered into a…
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