South Korea

DSME workers reach tentative deal to end strike

South Korean contract workers have tentatively agreed to end their strike at the country's No.3 shipbuilder in return for a much smaller wage hike than they had demanded, union officials and subcontractors said on Friday

Muggiano shipyard

Fincantieri, second corvette to Qatar delivered

Trieste - The delivery of the corvette “Damsah”, the second of the Al Zubarah-class of four vessels ordered to Fincantieri by the Qatari Ministry of Defence within the national naval acquisition program, took place today at the Muggiano (La Spezia) shipyard

After the Tecnavi operation

De Wave acquires FCR Finland

The Genoese group De Wave lands in Finland and announces the acquisition of FCR Finland. The company thus broadens its borders, focusing on the North European and Scandinavian shipbuilding market

Turnover towards 300 million in 2022 guidance

The Italian Sea Group doubled Ebidta in 2021

The Italian Sea Group (TISG), global operator in the luxury yachting industry with the brands Picchiotti, Admiral, Perini Navi, Tecnomar and NCA Refit, announces that the Board of Directors, during today’s meeting, has approved the preliminary consolidated results at December 31st 2021

Zero emissions of exhaust gasses

Brodosplit to build zero-emission passenger sailing ship

Split - Brodosplit shipyard symbolically marked the beginning of the consolidation and joining of sheets to produce sections of a zero-emission passenger ship with electric generator propulsion: "Electric sailing ship"

While it also flags ammonia FSRU concept

Mitsubishi to build liquefied CO2 carrier for CCUS

Japan’s Mitsubishi Shipbuilding is set to build a liquefied carbon dioxide (LCO2) carrier and is also studying an ammonia floating regasification and storage unit (FSRU) concept in a concerted bid to expand is energy transition portfolio

International controversies

KDB chief calls EU "selfish" for disapproval of HHI-DSME deal

Korea Development Bank (KDB) Chairman Lee Dong-gull criticized the European Union, Thursday, over its disapproval of Hyundai Heavy Industries’ (HHI) proposed acquisition of Daewoo Shipbuilding & Marine Engineering (DSME)

VesselsValue's report

704 vessels were sold for scrap in 2021

London - 2021 saw significant trends and changes in the shipping industry with record breaking container demand, surging steel prices, and the threat of returning lockdowns as new Covid-19 variants emerged. READ FULL REPORT

With Germany's Thyssenkrupp

Israel signs $3.4 bln submarines deal

Germany's Thyssenkrupp Marine Systems will build three advanced submarines for the Israeli Navy in a deal worth three billion euros ($3.4 billion), the Israeli Defense Ministry said on Thursday. The parties also signed an industrial strategic cooperation agreement that amounts to more than 850 million euros, the ministry said."


“Viking Neptune” floated out in Ancona

Ancona – “Viking Neptune ”, the newest ocean cruise ship which Fincantieri is building for the shipowner Viking, has been floated out at the shipyard in Ancona . The unit will be placed in the small cruise ship segment. As its sister ships, she is about 47,800 tons, 465 cabins with accommodation for 930 passengers

After EU veto

DSME in search for new owner as tie-up with Hyundai Heavy fails

Seoul - Daewoo Shipbuilding & Marine Engineering is in search of a new owner again after a merger plan with its larger rival Hyundai Heavy Industries failed due to an EU veto on monopoly concerns. The European Commission announced Thursday its prohibition for the merger

Value: $43 million

DIS inks first sustainability-linked loan

Rome - DIS, or d'Amico International Shipping, a marine transportation company, has signed a contract for its first sustainability-linked loan as part of the refinancing of all debt maturing in 2022. Specifically, the company’s subsidiary d’Amico Tankers signed a $43 million five-year term loan facility with ABN Amro Bank to refinance the bank loans maturing in 2022 on "MT Cielo di Ulsan", "MT Cielo di Hanoi" and "MT Cielo di Gaeta"

New record

Big Three Korean shipbuilders win largest orders in eight years

Seoul - South Korea's three major shipbuilders in 2021 have received their largest amount of orders in eight years, surpassing their targets by 45%, according to the industry sources on Dec. 31. The Big Three bagged a combined $45.9 billion worth of orders this year

Amid expansion plans

Qatar orders six LNG ships from Korean shipyards

Doha - QatarEnergy has ordered six LNG ships from two South Korean shipyards, the first batch under a 2020 agreement, as the Gulf state seeks to meet requirements for its North Field expansion plans


Daewoo Shipbuilding develops carbon dioxide storage technology

Seoul - Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday it has developed a technology to store carbon dioxide captured in ship engine emissions. The technology developed in cooperation with a local ship part supplier will help ships to reduce their carbon dioxide emissions


"Renovation of shipping fleet a necessity for Iranian maritime trade"

Tehran - The Secretary of the Iranian Merchant Mariners Syndicate (IMMS) Saman Rezaei has said buying new ships and the renovation of the country’s existing maritime fleet is an important necessity for developing the maritime trade. “Older ships have higher depreciation and maintenance costs and lower safety” the portal of the Ports and Maritime Organization (PMO) quoted Rezaei as saying.


Chittagong gets marine technology institute for first time

Chittagong - The Institute of Marine Technology (IMT) is going to be established in Chittagong for the first time here to develop skilled manpower for the shipbuilding industry. All are set to construct IMT on the bank of Karnafuli River, adjacent to Kalpalok residential area at Bakalia police station in the city. Land acquisition has already been completed in this regard

To be completed and get ready for the open sea

"Leonardo da Vinci" reaches Norway to be completed

Tulcea - After being towed from Vard’s shipyard in Tulcea, Romania, across the Black sea, the Mediterranean Sea, then along the ocean shores of Portugal, Spain and France up to Scandinavia, Prysmian Group’s cutting-edge cable-laying vessel reached Brattvåg, Norway


China a big buyer of new French wheat crop, traders say

Some sources estimated the volume at 500,000 to 600,000 tonnes, or up to around 10 large panamax vessels, mainly for August. Others pegged total sales higher, at around 1 million tonnes, suggesting France could load up to about 15 panamaxes this summer

Fincantieri Group

Vard delivers "Coral Geographer"

Trieste - Fincantieri subsidiary Vard, one of the major global shipbuilders of specialized vessels, has delivered the second expedition cruise vessel, “Coral Geographer” to the Australian company Coral Expeditions. “Coral Geographer” has been specially tailored for personalized expedition cruises to remote and exotic destinations in Asia and Oceania