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Guangzhou Shipyard International (GSI) is planning a restructuring of the major assets of the company, a move made amid the height of a global shipbuilding slump.

Chinese yard Fujian Crown Ocean Shipbuilding Industry bagged an order to build six offshore support vessels (OSVs) scheduled for delivery at the start of 2014.

Damen has commenced work on an order for 14 terminal tugs by Kuwait Oil Company.

Chinese shipbuilder JES International plunged into the red in the first quarter as revenues tumbled.

Singapore-based Jaya Holdings achieved a slim increase in third quarter profit due mainly to higher average daily charter income from its offshore vessels.

Vard Holdings, designer and builder of offshore support vessels (OSV), posted a considerable drop in net profit in the first quarter due to lower margins.

South Korean shipbuilders have taken the lion’s share of product tanker newbuilding orders over the last 16 months.

Vard, designer and builder of offshore vessels, has penned a letter of intent to construct one platform supply vessel (PSV) for Simon Møkster Shipping.

Singapore-headquartered Otto Marine has managed to scrap a profit and reversed its net loss position in the first quarter ended 31 March 2013, amid ongoing legal headaches and yard under-utilisation.

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