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Shipbuilding

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Parent of Vyborg shipyard decides on its voluntary liquidation

Tuesday, 17 Oct 2017

Oct 17 (Reuters) - VYBORG SHIPYARD ::SAYS ITS PARENT WESTERN SHIPBUILDING CENTER‍​ DECIDES ON VOLUNTARY LIQUIDATION.

Mitsubishi Heavy Industries to combine shipbuilding design, engineering workforces-Nikkei

Friday, 2 Jun 2017

June 2 (Reuters) - Nikkei::Mitsubishi Heavy Industries will consolidate shipbuilding design and engineering workforces as part of effort to revive its vessel business - Nikkei.Mitsubishi Heavy's center may also design vessels ordered for Imabari or Namura - Nikkei.Mitsubishi Heavy Industries engineers at various shipyards to be brought under new vessel, marine technology center in yokohama as of July 1 - Nikkei.Mitsubishi Heavy Industries' new vessel & marine technology center will also tie up with peers like imabari shipbuilding, namura shipbuilding - Nikkei ‍​.

JES International updates on proposed restructuring

Thursday, 13 Oct 2016

JES International Holdings Ltd : Since Jingjiang court public notice was released on 20 Sept, company has not been notified of any updates to proposed restructuring .New board not ruling out possibilities of any significant corporate action including very substantial acquisition or reverse take-over.

Keppel Corp records 48 pct decline in Q2 net profit

Thursday, 21 Jul 2016

Keppel Corporation Ltd : Second quarter and half yearly results . Q2 revenue s$1.63 billion versus s$2.56 billion a year ago . 2q 2016 net profit down 48% to s$205 million, compared to s$397 million for 2q 2015 . Directors are pleased to declare a tax exempt one-tier interim cash dividend of 8.0 cents per share . Sete Brasil has been working with a financial advisor on its restructuring plan and has filed for judicial recovery . While we wait for more clarity on Sete'S plans, we believe that provision of s$230 million made last year remains appropriate and adequate' . We have excluded Sete's projects from our net orderbook" . Says for HY, Keppel O&M reduced its direct staff strength in Singapore and overseas by 4,900 headcount, or around 16% of its staff . Says our cost-cutting and rightsizing efforts will continue . Says "given the oversupply in the rig market and falling day rates, we do not expect demand for drilling rigs to return soon" . In H2, received requests to defer delivery of three jackups for grupo r and one jackup for parden holdings to next year . "We can look into integrating our engineering resources across the different units in the division" . "If necessary, we may also mothball yards with low work volumes" . Says also exploring opportunities to build jones act vessels in the US .

Dongbang Ship Machinery to merge with Dongbang Shipyard

Friday, 1 Jul 2016

Dongbang Ship Machinery <099410.KQ> Co., Ltd.: Says it will merge with its unit, Dongbang Shipyard.Co.,Ltd. .Says expected merger effective date of Sept. 5 and registered date of Sept. 8.

Vard Holdings says agreed to terminate shipbuilding contract with Rem Offshore ASA

Monday, 27 Jun 2016

Vard Holdings Ltd : Says agreed in principle to terminate a shipbuilding contract with Rem Offshore ASA in return for a compensation . Says "company is currently evaluating the financial impact" . As part of compensation for termination, co shall receive shares equal to approximately 4% of total issued shares in REM post restructuring .

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