Tag: shipbuilding

Digitalization will be an important aspect to reduce shipbuilding and repair costs, the US Navy said. In fact, the Navy will try to leverage this in order to build a larger fleet. Digital modeling can also decrease time in design process by enabling engineers to test capabilities in few days rather than needing weeks or months.

Hyundai Heavy Industries, South Korea's largest shipbuilder, will suspend work at its offshore facilities shipyard in August, amid lack of orders, according to an official announcement by the company's President and CEO, Kang Hwan-goo. The offshore yard will not operate until orders come back.

South Korean shipbuilder DSME announced that it has launched the world’s first LNG carriers using a full re-liquefaction system that completely re-liquefies the evaporative gas generated from LNG carriers. The company also delivered the world’s first LNG cargo ship with partial liquefaction system in 2016.

The Liberian Registry agreed with the China Classification Society for a framework co-operation Memorandum of Understanding. According to the agreement, the Liberian Registry will help shipyards and shipowners improve their innovative strategies. The MoU will focus on innovation and technology.

South Korean government will financially support shipbuilders that face problems due to the industry's downturn. Namely, South Korea will extend financial guarantees for suppliers of shipbuilders and roll over their debts, Choi Jong-ku, chairman of the Financial Services Commission informed.

The US  Government Accountability Office published the report "Navy Shipbuilding: Past Performance Provides Valuable Lessons for Future Investments." In the report it says that navy shipbuilding has been damaged the last decade by programs running over-budget and underperforming.

South Korean DSME, one of the largest shipbuilders in the world by orders, could achieve US$9.1 billion in sales this year, according to the company’s CEO. DSME is currently making efforts to secure orders for offshore facilities for the rest of the year, which if realized, could help the company exceed the target.

South Korean Shipping company Hyundai Merchant Marine has selected three compatriot shipbuilders for the construction of its twenty eco-friendly mega container ships, under the company's ‘Capacity of 1 Million TEU’ strategy, and the Korean government’s ‘5 Year Plan for Rebuilding Korean Shipping’ plan.

The South Korean government will designate five key shipbuilding centres on the country’s south coast as “industry crisis” zones eligible for economic support, according to the finance minister, Kim Dong-yeon. These areas are home to shipbuilding companies that have struggled with high unemployment in recent years.

Irving Shipbuilding, Canada’s National Shipbuilder, has awarded an $8.9 million contract to ABCO Industries Limited to design and build a 12 metre landing craft for the Royal Canadian Navy’s Harry DeWolf-class Arctic and Offshore Patrol Ships. The first AOPS, the future HMCS Harry DeWolf, will be launched in fall 2018.