Offshore shipbuilder and designer Vard Holdings has warned of ‘inherent risks’ in its offshore projects as the company continues with its efforts to diversify its product portfolio in view of protracted weakness in the offshore market.
China State Shipbuilding Corp (CSSC) shared that it has received approximately RMB117.59m ($17.71m) in government subsidies over the first six months of this year.
China’s ailing shipbuilding sector has seen a near one-third year-on-year decline in newbuilding orders over the first half of this year, leaving work-hungry Chinese yards still struggling to stay afloat in the troubled sector.
Ailing South Korean shipbuilders going through a rough patch of debt restructuring are slowly getting back on their feet, as they recorded a rise in new orders in the first half of the year and are expecting more new contracts for the second half, reports said.
Chinese shipyards Shanghai Waigaoqiao Shipbuilding & Offshore Co and China Shipbuilding Trading (Shanghai) Co have made counterclaims against Singapore’s Pacific Radiance over a shipbuilding contract involving two PSVs.
Japan’s Mitsui OSK Lines (MOL) has ordered four LNG carriers at China’s Hudong-Zhonghua Shipbuilding on the back of a long term charter contract for the Yamal project developed by Russia’s Gazprom.
China’s Shanghai Waigaoqiao Shipbuilding (SWS) has won an order to build two 180,000 dwt bulk carriers for Foremost Group, a New York-based shipping, trading and finance enterprise, reports said.