Höegh LNG is lining up a series of four FSRU newbuildings at Samsung Heavy Industries (SHI).
Despite the current hard times, Chinese yards are looking ahead to the future and are focussing on building up their brands to be prepared to take advantage of any upswing that comes.
Australia’s Fortescue Meals Group has secured a financing agreement worth $473m from China Development Bank Financial Leasing Co (CDB Leasing) for the construction of eight VLOCs.
Italian shipbuilder Fincantieri is looking to take Singapore-listed offshore vessel building arm Vard private.
With newbuilding orders down roughly 75% this year the chief of the world’s largest classification society Remi Eriksen says they are preparing for an upturn in the shipping industry in 2019.
There is no doubt the pace of ordering new ships has slowed in recent years, but Greek shipowners continue to expand and upgrade their fleets ordering new ships and moving re-sale opportunities buying ships off the newbuilding berth.
How on earth can any part of the maritime industry afford major investment at a time when a reasonable return in most sectors seems so very elusive? Ships are cheap, shipyards are desperate for any sort of order and sacking their workers by the hundred, as the building berths empty out.
Offshore shipbuilder Vard Holdings is continuing its moves into the aquaculture business acquiring equipment supplier Storvik Aqua.
Sarawak-based offshore services vessel provider Sealink International's four-year dispute with Boustead Heavy Industries Corp unit Boustead Penang Shipyard (BPS) over a shipbuilding contract has been settled and the former is accepting a payment of $1.5m.