Sarawak's oldest yard, Brooke Dockyard and Engineering Works Corp, fresh from major Petronas contracts, is building on the momentum and has tripled its fabrication capacity for oil and gas offshore modules with the development of a second fabrication yard.
Shipowner Torm has inked a deal to buy four fuel efficient MR resale tankers from China’s CSSC Offshore & Marine Engineering Co (Comec), with deliveries expected in 2019.
Engineering and fabrication shipyard Triyards Holdings has made a $53.38m allowance for impairment charges for the nine months ended 31 May for its financial year 2017, due to reassessment of certain assets value and its exposure to its bankrupt ultimate holding company Ezra Holdings.
Embattled Malaysian offshore vessels builder Nam Cheong has decided to temporarily cease repayment on all borrowings as the company is reviewing its options to restructure its businesses and operations.
China’s Cosco (Nantong) Shipyard and KS Drilling have agreed to further delay the delivery of a jack-up drilling rig in view of the protracted market slump.
Sembcorp Marine’s Jurong Shipyard and North Atlantic Drilling Ltd (NADL) have agreed to further delay the delivery of a semi-submersible drilling rig by another six months to 6 January 2018 from 6 July 2017.
Hyundai Heavy Industries (HHI) has signed a memorandum of understanding (MOU) with Saudi Aramco and Dussur (Saudi Arabian Industrial Investments Company) to establishe a joint venture for marine engine and onshore power generation engine businesses.