Shipbuilding Archives — City Business News

March 29, 2024 No Responses

Firm Begins Construction Of 295-Meter LNG Carrier

Chinese shipbuilder, Hudong-Zhonghua Shipbuilding has started the construction of what is said to be the first single-class large LNG carrier of China Classification Society (CCS). The steel-cutting ceremony for the 174,000 m3 LNG carrier H1909A of PetroChina International was held...

April 11, 2023 No Responses

Daewoo Bags Another LNG Carrier Deal

South Korean shipbuilding major, Daewoo Shipbuilding & Marine Engineering (DSME) has secured a construction order for an LNG carrier from an unidentified shipowner from Oceania. The order is worth KRW 339.6 billion ($ 257 million), according to DSME’s st...

September 28, 2022 No Responses

Daewoo Shipbuilding Seals $1.4b Conditional Takeover Deal

South Korean shipbuilding major, Daewoo Shipbuilding & Marine Engineering (DSME) has entered into a tentative deal with compatriot conglomerate, Hanwha Group on the acquisition of a 49.3 percent stake and management rights in return for $1.4 billion. ...

August 29, 2022 No Responses

Shipbuilding Firm Unveils Smart Sail Design

Chinese shipbuilder, Jiangnan Shipbuilding has launched an in-house design of a smart sail, a wind-assisted propulsion system. Named the Jiangnan Smart Sail, the technology behind the system is based on a high-performance computing platform that evaluates...

July 8, 2022 No Responses

KSOE Bags $2.2b Order For 10 LNG Carriers

South Korean shipbuilding group Korea Shipbuilding & Offshore Engineering (KSOE) has received two orders for the construction of a total of ten liquefied natural gas (LNG) carriers. The orders have a combined value of KRW 2.87 trillion (about $2...

June 5, 2021 No Responses

US Bans Investment In China’s Shipbuilders

The Biden administration has banned U.S. investments in Chinese companies allegedly linked to China’s military, expanding hard-line policies introduced by the previous administration. The executive order bans American citizens from investing in some of...

March 23, 2021 No Responses

Daewoo Shipbuilding Shuts Down Production Amid COVID-19 Outbreak

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has stopped production at its facilities in Okpo, Geoje amid an outbreak of Covid-19 infections among workers. Close to 70 workers have tested positive for coronavirus at the ya...

January 22, 2019 No Responses

Firm Gets $86.6m Refund On Four Cancelled Shipbuilding Deals

Canadian shipping company, Algoma Central Corporation has received full refund of instalment payments for the now-cancelled shipbuilding contracts with Croatia’s Uljanik and 3. Maj Shipyard. The company entered into five shipbuilding contracts with 3. M...