Singapore’s offshore services firm Vallianz Holdings has ceased operations at its shipyard in Singapore since end-2016 as part of efforts to streamline business operations amidst the severe industry downturn.
Bankrupt Sinopacific Offshore & Engineering (SOE) has announced that it is looking for investors to help restructure the company.
Plans for a $4.3bn mega-shipyard in Saudi Arabia by Hyundai Heavy Industries (HHI), Saudi Aramco, Bahri and Lamprell have moved a step closer to construction with an inauguration ceremony.
China’s Sinopacific Offshore & Engineering (SOE) has held its first creditors’ meeting after the company embarked on a debt restructuring phase about two weeks ago, reports said.
An explosion at a Pakistani shipbreaking yard that claimed the lives of more than two dozen workers is believed to have been caused by sizable amounts of smuggled oil that caught fire, local reports said.