In its latest analysis of the marine coatings sector, UK-headquartered market analyst Frost & Sullivan’s has shown that increased development and adoption of more environmentally sustainable and durable antifouling coatings using higher priced chemistries is a fast-growing trend in the marine sector.
Pirates attacked a South Korean-flagged cargo ship in the South China Sea early on Monday, stealing thousands of dollars in cash and even the sailors' shoes, South Korean authorities said.Two people sustained minor injuries when seven pirates boarded the CK Bluebell and made off with $13,000 and belongings including mobile phones, clothes and shoes from the 22-strong crew
South Korean shipbuilding conglomerate Hyundai Heavy Industries (HHI) Group has officially started the process to earn approval from anti-trust regulators for its proposed takeover of Daewoo Shipbuilding and Marine Engineering Co. (DSME).HHI has submitted a request for the formal approval from the South Korea’s Fair Trade Commission (FTC), as well as from antitrust authorities in Japan, China
China's two largest shipbuilders are planning to merge, their listed arms said in separate exchange filings on Monday, the latest to join a wave of mergers among state-owned enterprises as the government overhauls the sector.The move by China Shipbuilding Industry Corp (CSIC) and China State Shipbuilding Corp Ltd (CSSC)
Vitol, the world's largest independent oil trader, has started building a small oil refinery at its storage terminal in Malaysia that will provide low-sulfur fuel for ships, a senior company official said on Monday.The project consists of a crude distillation unit that can process 30
Wight Shipyard Co. (WSC) debuts a hybrid patrol vessel designed to reduce both fuel costs and engine maintenance.“This ground-breaking project aims to set new standards in high speed, fuel economy and light weight vessels in the sector. Building greener vessels has been an integral focus for some time now so moving into hybrid options is the obvious next step forward,” said Peter Morton, CEO
Hong Kong-based Orient Overseas International Ltd. (OOIL) said that it will sell Long Beach Container Terminal (LBCT) to a consortium led by Australia’s Macquarie Group for $1.78 billion.OOIL, which is majority-owned by Cosco Shipping Holdings, was the terminal operator under a lease agreement with the port.
Japanese public multinational corporation Kawasaki Heavy Industries (KHI) has completed the construction of a new dock in northeast China, as the company streamlines costs amid competition from South Korean rivals.According to a press note from the manufacturer of ship and offshore structure
Mitsubishi Shipbuilding held a christening ceremony on February 21 for the next-generation LNG (liquefied natural gas) carrier currently under construction for Mitsui & Co., Ltd.The new ship, named Marvel Crane, is a design that significantly improves both LNG carrying capacity and fuel performance due to the adoption of efficient hull structure and hybrid propulsion system.
Resulting entity would control about 20 pct of global market; Daewoo shares rally 22 pct; Hyundai Heavy shares fall.Hyundai Heavy Industries, the world's biggest shipbuilding group, has announced a share swap deal worth 2.1 trillion won ($1.98 billion) to take over second-ranked Daewoo and create a global heavyweight controlling over 20 percent of the market.
Chinese shipbuilding conglomerate China State Shipbuilding Corporation (CSSC) has signed contracts for 36 newbuildngs worth a total contracts value of over RMB10bn (USD1.48bln).According to the state media Xinhua, the vessels will be built at a number of different yards under the CSSC umbrella and CSSC (Hong Kong) Shipping Company, will provide financing service to all 36 newbuildings.
Beluga Ace: New Design Car Carrier with Six Liftable DecksBeluga Ace, the first vessel of next-generation FLEXIE series car carrier built by the Minaminippon Shipbuilding Co., Ltd., was delivered to Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) in March 2018. The space onboard was rearchitected using the design concept.