Damen Shipyards and leading heavy lift specialist BigLift Shipping have completed a major logistical feat. A single vessel has transported eleven Damen tugs from the shipbuilder’s yards in Vietnam and China to Europe. While such voyages usually require six months to plan and organise, this one had less than two months to prepare and ensure that each stage was executed on time. The ship used to transport the eleven Damen tugs was BigLift’s Happy Star, a 156-metre heavy lift vessel equipped with two heavy lift mast cranes of 1100 mt ...

Samsung Heavy Industries Co., South Korea’s second-largest shipbuilder, showcased new eco-friendly ships and digital vessel technology for net zero in Europe to expand its presence in the region’s carbon-neutral ship market. Samsung held a technology seminar on Wednesday in Athens to unveil new vessels such as a liquefied natural gas (LNG) tanker and a liquefied carbon dioxide (LCO2) carrier, as well as digital ship technology based on artificial intelligence. “The Athens roadshow allowed us to confirm customers’ interest and expectations for Samsung Heavy’s eco-friendly vessels and new digital technology,” said ...

The GTT Group announces the strong success of its first international employee shareholding plan, recording a participation rate of 87%. Launched on April 24th 2024 across seven[1] countries, the operation represents a capital increase of 40.041 shares, or 0,11% of the Group’s capital. Upon completion, employees and managers will hold approximately 0,85% of the capital of GTT. Philippe Berterottière, Chairman and CEO of GTT, stated: “We are proud of the great success of this first international employee shareholding plan, which demonstrates the commitment and confidence of our employees in GTT’s ...

In the face of an expected market downturn for ballast water management systems, DESMI has not only sustained its robust growth direction can also announce a record-breaking revenue for 2023, nearing 2 billion DKK. DESMI is pleased to report a landmark year in 2023. Despite experiencing an expected market contraction in the ballast water management system business, which in the recent years has accounted for a significant portion of our revenue, we have outperformed our expectations. The upcoming regulatory deadline for retrofit of ballast water management systems on certain marine ...

U.S. private equity firm Cerberus Capital Management said it has agreed to lease part of its Philippine shipyard in Subic Bay to HD Korea Shipbuilding and Offshore Engineering, which plans to build a facility there to manufacture offshore wind platforms. Cerberus said on Wednesday it has signed a multi-year agreement with HD KSOE 009540.KS to lease part of the 350-hectare shipyard Cerberus acquired in 2022 in Subic Bay, northeast of the capital Manila, which was home to a U.S. navy base until 1992. The shipyard was run by Hanjin Philippines ...

HD Korea Shipbuilding & Offshore Engineering Co. (KSOE), the parent of the world’s No. 1 shipbuilder, is accelerating its offshore wind power push by setting up its first overseas base camp for wind power business in the Philippines, the center of the Asia Pacific offshore wind market. HD KSOE announced on Wednesday that it signed a lease contract with US private equity firm Cerberus Capital Management to use plots and facilities at a large shipyard in Subic Bay, the so-called Subic Yard, to manufacture wind turbine foundations and expand its ...

Korea’s shipbuilding industry was overtaken by China’s shipbuilding industry in the global competitiveness rankings, according to a report. China overtook Korea in overall competitiveness in the shipbuilding industry in 2023, according to the report titled “Comprehensive Competitiveness of the Shipbuilding Value Chain and New Directions for Korea’s Maritime Strategy” released by the Korea Institute for Industrial Economics and Trade (KIET) on May 13. This marked the first time that China has beaten Korea in the shipbuilding sector since 2020 when the institute began to release related reports. According to the ...

An uptick in orders for eco-friendly ships is driving up newbuilding prices, igniting a bullish trend in South Korea’s shipbuilding sector. On May 13, Samsung Heavy Industries shares rose 1.52% to 10,040 won, hitting a yearly high of 11,200 won in early trading. HD Korea Shipbuilding & Offshore Engineering also surged 1.46% to 131,800 won, reaching a 52-week high of 133,800 won. Hanwha Ocean, HD Hyundai Heavy Industries, and Hyundai Mipo Dockyard are also witnessing robust activity, as are shipbuilding materials and parts firms like HSD Engine, Oriental Precision & ...

The largest-ever made-in-Vietnam bulk carrier was recently launched by Nam Trieu Shipbuilding Company Limited in the northern port city of Hai Phong. The 65,000 DWT Truong Minh Dream 01 was built by Vietnamese engineers and workers under the supervision by Japanese NK Registration. The 199.99-metre-long ship was designed by the Vietnam Shipbuilding Engineering Company (Visec) and Bluetech Finland Ltd – a specialist in cargo ship design. According to Nguyen Van Chi, Director of Dong Bac Shipping Industry JSC, the operator of the vessel, it belongs to the most modern class ...

Korean shipbuilders, which have been fiercely competing with Chinese shipbuilders on the global stage, reported sluggish shipbuilding in the first quarter of 2024 compared to 2023. The growing proportion of less-skilled foreign workers on Korean shipbuilding sites is said to be the main factor. Major Korean shipbuilders are faced with the tough task of boosting labor efficiency while preventing safety accidents that fall under the Serious Accidents Punishment Act. According to Clarkson Research, a U.K.-based shipbuilding and shipping market analyst, Korean shipbuilders delivered 2.48 million CGT of newbuildings in the ...

Maersk, the world’s second-largest shipping company, has reportedly postponed an order for 15 methanol-powered container ships from a Chinese shipbuilder. The delay is reportedly due to Maersk’s objections to design drawings submitted by the Chinese shipbuilder. Experts say that this means that South Korean technology has proved once again to be better than Chinese technology in high-value vessels. According to shipbuilding and shipping magazine TradeWinds on May 9, Danish shipping company Maersk recently informed Huangpu Wenchong Shipbuilding, a subsidiary of China Shipbuilding and Shipping Corporation (CSSC), that it would postpone ...

Fairplay Towage Group, one of Europe’s leading towage providers, has placed an order with Damen Shipyards for the delivery of two further tugboats, one of which is of the ASD Tug 2813 design, the other one being a tug fitted with azimuth stern drives and a bollard pull of 60 tonnes. The latter acquisition will be fitted with an aft winch for offshore towage. The ASD Tug 2813 boasts an impressive bollard pull in excess of 80 tonnes for harbour assistance. Both vessels will be fitted with external FiFi capabilities ...

The Korean shipbuilding industry’s order share plunged amid a strong showing by rival China in April. According to Clarkson Research, a U.K.-based shipbuilding and shipping market analyst, Korea’s ship order intake in April ranked second globally with 670,000 CGT (13 ships). The figure represented only 14 percent of the global ship orders (4.71 million CGT) and was a significant drop from the country’s share of shipbuilding orders (38 percent) in March. China, on the other hand, took the top spot with 3.58 million CGT (91 ships) in April, representing a ...

One of the world’s most advanced heavy lift ships was delivered in Shanghai on Wednesday and is scheduled to launch its maiden voyage to Tianjin on Thursday, according to official sources. The ship, named “UHL Fable”, is a 13,500 deadweight tons (DTW) heavy-lift multi-purpose vessel built by Hudong-Zhonghua Shipbuilding (Group) Co Ltd, a subsidiary of China State Shipbuilding Corp, the local news portal eastday.com reported. With a length of 149.99 meters and a width of 25.6 meters, the ship meets various emission requirements and can flexibly load equipment of various ...

China State Shipbuilding Corp., the world’s largest shipbuilder, responded to the United States’ probe into China’s shipbuilding industry, saying its operation is normal and has scheduled production for the next four years. The state-owned shipbuilder, known by its initials CSSC, received 353 new ship orders in the first quarter, a 10.9% increase from the same period last year, the company said Tuesday while replying to investors’ questions about the investigation at the Shanghai Stock Exchange’s investor interactive platform. Source: Caixin Global