The Government of Canada announced it has made amendments to the invitation to qualify (ITQ) for a third National Shipbuilding Strategy shipyard, correcting an inconsistency in the vessel dimensions that shipyards’ must be capable of building and launching.
South Korea’s top three shipyards, Hyundai Heavy Industries Group, Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co., have received an overall US$12.1 billion won worth of orders, during the first eight months of 2019. This marks a 21.3% reduction from the previous year.
With the steel cutting ceremony at Meyer Werft, work has started on the next cruise ship for AIDA Cruises. Like the AIDAnova that was delivered at the end of 2018, this ship will be equipped with an environmentally friendly LNG propulsion system.
SHIPLYS (Ship life cycle software solutions) is a three-year project that began in September 2016. The project is in response to needs of SME naval architects, shipbuilders and ship-owners, who need to improve their capability to reduce the time and costs of design and production.
Norwegian shipbuilder Meyer Werft announced the imminent launch of Norwegian Cruise Line’s newest cruise ship, expected in the morning hours of 17 August 2019. Once Norwegian Encore has left the dock, it will berth at the shipyard’s out-fitting pier to be fitted with its funnel cladding.
Ireland’s historic shipyard Harland and Wolff, which is known for building Titanic, is about to go into bankruptcy, ending a shipbuilding tradition of centuries in Belfast. The Irish shipbuilder, which dates back to 1861, filed for insolvency at the High Court in Belfast.
The two major mergers of South Korean Hyundai Heavy Industries Co. and DSME, and Chinese shipyards China Shipbuilding Industry Corp. and China State Shipbuilding Corp., are expected to control nearly half of the global shipbuilding market, forging a new reality for the global shipping industry.
Chatsworth, US-based investment banking firm, is collaborating with Onex Elefsis Shipyards on investment of about USD 400 million in financially-distressed Elefsina Shipyards. The agreement for the partnership was decided on July 9, between the two companies. Now, Chatsworth Securities became the stakeholder of the shipyard and is also the exclusive investment bank for the company’s capital needs.
America’s Congressman, John Garamendi and Senator Roger Wicker are reintroducing the ‘Energizing American Shipbuilding Act’, aiming to recapitalise the US’s strategic domestic building and maritime industries. This would be achieved by increasing the percentages of LNG and crude oil exports that will be transported on US-built, flagged, and crewed vessels.
Several mergers between Chinese shipbuilders are putting South Korean mid-size companies, which are already struggling, into risk. Because of these mergers, are medium-sized Korean shipyards worry that they could lose deals to construct oil tankers to Chinese companies, like it happened for bulk carriers.
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