The recent actions of the Indian government, to limit domestic shipbuilding activities to Indian yards, and also to favour the state-run Cochin Shipyard in awarding contracts for small craft and passenger vessels, have resulted in substantial heartburn in both a Sri Lankan shipyard and a small Indian yard located Goa.
China’s two largest state-owned shipbuilding groups China Shipbuilding Industry Corporation (CSIC) and China State Shipbuilding Corporation (CSSC) have confirmed a plan to merge, according to the separate exchange filings released by several listed units of the two companies.
Chinese shipbuilding giant, China Shipbuilding Industry Corporation (CSIC), signed several marine project contracts, totalling in RMB14.3bn ($2.08bn), consisting of newbuilding orders, ship leasing contracts, ship finance agreements and equipment orders.
Tsuneishi Shipbuilding has received its first order from a Japanese owner for its larger design 42,000 dwt log and bulk carrier.
Saudi Aramco and its affiliates have signed multiple agreements with major South Korean companies, including Hyundai Heavy Industries (HHI), on new business opportunities to expand international operations.
China Ocean Industry Group disposing of a 60% equity interest in Nantong Huakai Heavy Industry Company at a price of RMB20m ($2.88m).
Inmarsat and Hyundai have signed an agreement whereby the shipbuilder’s subsidiary, Hyundai Global Service, will use dedicated bandwidth from Inmarsat to offer shipowners and managers a digital care package for new ship deliveries.
Wang Junmin, former chairman and general manager of Chinese shipbuilding company Sainty Marine, and Cao Chunhua, former deputy general manager of the company, were sentenced to prison.
China’s Central Commission for Discipline Inspection has launched an investigation on Li Dong, head of China’s Ministry of Industry and Information Technology (MIIT) over his involvement of illegal activities.