Tag: shipyards

A joint venture comprising UAE-based oil rig builder Lampell, oil company Saudi Aramco, the National Shipping Company of Saudi Arabia, and South Korean shipbuilder Hyundai Heavy Industries Co. Ltd., has begun construction works at Saudi Arabia’s new maritime yard, at the Ras Al Khair site, on Friday.

Fincantiery announced that it completed a share purchase agreement for the acquisition of 50% of the share capital of STX France from the French State, represented by the Agence des Participations de l'Etat. The agreement between the two companies is subject to the closing of the transaction between the French State and STX Europe and to customary conditions.

The European Commission decided that the Croatian plans to grant Uljanik shipyard a State guarantee for a €96 million loan, adhere to the EU State aid rules. The measure will enable the company to meet urgent liquidity needs while preparing a restructuring plan.

The European Commission approved aid rules for Polish support to SMEs in the shipbuilding sector. This measure aims to encourage new investment and benefit regional development. The Commission has also opened an investigation into a Polish tax scheme for shipyards.

Mitsui O.S.K. Lines announced that MOL acquired 100% of the issued shares of Azalea Maritime B.V. on December 21st, 2017. Azalea Maritime B.V. changed its name to "MOL Maritime Europe B.V." on January 1st, 2018.

South Korean shipyards, including HHI, SHI, and DSME, have set higher order goals for 2018, in line with expectations for an overall improvement in the shipbuilding sector. The country's shipbuilding industry is hit by a decrease in new orders in the last years, as a result from global economic downturn.

Ending the recent diplomatic dispute, France and Italy have reached an agreement on Wednesday over STX France, giving control of the French shipyard to the Italian shipbuilder Fincantieri, under shared ownership and strict conditions.

South Korea's largest shipbuilder Hyundai Heavy Industries has agreed with workers to establish a rotational paid leave scheme, amid decreasing rate in ship orders and industry downturn. 

Five people died and one was injured, after a fire erupted in ASL Marine Holdings Ltd. shipyard in Batam, Indonesia, on 7 September 2017, according to the company's announcement. The incident occurred on board a tanker that was being repaired at one of the yard's dry docks.

Under its Small Shipyard Grant Program, the US MARAD awarded USD 9.8 million to 18 US small shipyards, aiming to support industrial modernizations that will increase productivity and allow more effective competence in the global marketplace.