Sembcorp Marine’s wholly-owned PPL Shipyard has terminated three contracts with Integradora de Servicios Petroleros Oro Negro, SAPI de CV and its subsidiary Oro Negro Vastus for three jack-up rigs.

Bankrupt Yangzhou Dayang Shipbuilding, a subsidiary of Sinopacific Shipbuilding Group, has held its first creditors’ meeting on Saturday, more than two months after the yard went under receivership.

A former head of discipline inspection group at China Shipbuilding Industry Corp (CSIC) will be charged with corruption following an investigation that started in November last year.

New York-based shipping, trading and finance enterprise Foremost Group has approached China’s Shanghai Waigaoqiao Shipbuilding (SWS) to build two additional 180,000 dwt bulk carriers, adding on to an earlier order placed in June this year.

Taiwan’s Wisdom Marine has aborted a plan to build two new 115,000-dwt aframax tankers at Japan Marine United Corporation.

Samsung Heavy Industries (SHI) has developed an in-house LNG regasification system for LNG-FSRU, claiming that the system is able to minimise corrosion from sea water and reap higher energy effciency.

Japan’s Tsuneshi Shipbuilding announced on Tuesday that it has established a representative office in Shanghai, China in a move to strengthen working relationships with Chinese shipowners.

Chinese yards have recorded 15.85m dwt in new order tonnage for the January to August 2017 period, representing a 11.3% year-on-year drop as shipowners’ appetite for newbuildings remained lacklustre amid the oversupply of ships.

Malaysia’s Nam Cheong is proceeding to dispose of its corporate office property in Singapore so as to pay off an outstanding amount for the mortgage, in light of the company’s ongoing discussions on a proposed debt restructuring.

Yangzijiang Shipbuilding has disposed of its entire stake in a warehousing subsidiary in China so as to streamline the structure of the group and to control the overall administrative expenses.

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