China’s Wuchang Shipbuilding Industry Group has won an order to build up to four 7,200 dwt stainless steel chemical tankers for chemicals trading group Sinochem.
It has been 10 years since the onset of the 2008 global financial crisis, which also marked the start of a prolonged downturn for China’s once bustling and sprawling shipbuilding sector. Ren Yuanlin, executive chairman of Yangzijiang Shipbuilding, foresees that the outlook for Chinese yards will continue to be tough.
WinGD (Winterthur Gas & Diesel Ltd) is setting up an engineering centre in Shanghai, China together with a subsidiary of CSSC (China State Shipbuilding Corporation Limited) to increase its technical capacities by 20%.
The Philippines' Maritime Industry Authority (Marina) has strengthened its collaboration with the Japan International Cooperation Agency (JICA) to boost the shipbuilding and ship repair industry in the country, according to local media reports.
Beleaguered ASL Marine has updated shareholders that its bank creditors have continued to lend their support despite the breach of one covenant, and sought to allay an insolvency concern raised in an auditor’s report.
The South Korean shipbuilding sector and related businesses have slashed workforces by about one-fifth in the first half compared to the end of last year, according to data from Korea Offshore & Shipbuilding Association cited by Yonhap.