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Shipbuilding & Shipyards

Damen has commenced work on an order for 14 terminal tugs by Kuwait Oil Company.
Classification society DNV's net profit for 2012 was NOK719m ($122m), 1.5% down from NOK730m in 2011 despite a 27% rise in operating revenues from NOK10.1bn in 2011 to NOK12.8bn in…
Chinese shipbuilder JES International plunged into the red in the first quarter as revenues tumbled.
Singapore-based Jaya Holdings achieved a slim increase in third quarter profit due mainly to higher average daily charter income from its offshore vessels.
Vard Holdings, designer and builder of offshore support vessels (OSV), posted a considerable drop in net profit in the first quarter due to lower margins.
South Korean shipbuilders have taken the lion’s share of product tanker newbuilding orders over the last 16 months.
Vard, designer and builder of offshore vessels, has penned a letter of intent to construct one platform supply vessel (PSV) for Simon Møkster Shipping.
Singapore-headquartered Otto Marine has managed to scrap a profit and reversed its net loss position in the first quarter ended 31 March 2013, amid ongoing legal headaches and yard under-utilisation.
Malaysian shipyard operator Nam Cheong has sold five build-to-stock offshore vessels for a total of $110m to two different, undisclosed, Asian customers.
Cosco Corporation (Singapore) has signed a contract worth $23m to build a floatover launch barge for a Malaysian shipowner.
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