China Shipbuilding Industry Corp (CSIC) has improved its first quarter financial results on the back of higher production and cost savings yielded from the merging of its subsidiary yards.

China State Shipbuilding Corporation (CSSC) has reported a loss for the first quarter ended 31 March 2017 due to the protracted downturn of the shipbuilding industry.

China’s Ministry of Industry and Information Technology (MIIT) has announced changes to the country’s white list shipyards with the removal of seven yards and the addition of six.

Singapore’s Sembcorp Marine has posted a 28.8% decrease in first quarter profit on the back of reduced revenue as the shipyard group operated in a challenging market environment.

China’s Yangzijiang Shipbuilding has posted a strong 50.7% year-on-year jump for its first quarter profit on the back of higher revenue arising from the delivery of 14 vessels.

The US shale production has been and will continue to be the “biggest disruptor” to activities for the offshore market, which is going through its “worst” period in history, according to Michael Chia, managing director of Keppel Offshore & Marine (Keppel O&M).

Embattled Hyundai Heavy Industries (HHI), presently undergoing a restructuring, has posted a profit for the first quarter of 2017, making it the fifth consecutive quarterly profit for the group.

Cosco Corporation (Singapore) Limited has changed its name to Cosco Shipping International (Singapore) Co effective 20 April to reflect the organisational reform of its parent firm, China Cosco Shipping Corporation Limited (Cosco Shipping).

The “very challenging conditions” of the offshore market has led to Keppel Offshore & Marine (Keppel O&M) posting a net loss for the first quarter ended 31 March 2017.

Daewoo Shipbuilding & Marine Engineering (DSME) has narrowly averted bankruptcy after bondholders and creditors agreed to a bailout scheme following a series of meetings positively concluded over the past two days.

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