YANGSAN MACHINERY

ABS, Keppel's KOMtech Collaborate on Joint Development Projects #AmericanBureauofShipping(ABS)

Keppel Offshore & Marine is collaborating with ABS

Offshore classification services provider American Bureau of Shipping (ABS) announced Monday that the company is pursuing multiple major joint development projects (JDP) with Singapore’s Keppel Offshore & Marine Technology Centre (KOMtech) covering areas such as special purpose rigs, data analytics, and subsea technology.

“This collaboration…

McDermott wins $454m contract for Pemex’s Abkatun-A2 platform in Mexico #Ayatsilfacilities. #Cantarell #EPCI

McDermott International has secured a $454m contract to provide engineering, procurement, construction and installation (EPCI) for Pemex’s Abkatun-A2 platform, which will be installed in Mexico’s Bay of Campeche in 124ft of water.

Under the contract, McDermott will provide a vertically integrated EPCI solution to build and commission the platform, as well as associated structures.

The Abkatun-A2…

RasGas inks LNG sales & purchase deal with EDF #EDFgroup #liquefiednaturalgas #LNGmarkets

Doha: RasGas Company Limited (RasGas) announced yesterday  that Ras Laffan Liquefied Natural Gas Company Limited (3) (RL 3) has entered into a new liquefied natural gas sales and purchase agreement (SPA) with French energy company, EDF SA (EDF).

The agreement was signed by RasGasChief Executive Officer Hamad Mubarak Al Muhannadi and Marc Benayoun, EDF group senior executive, vice president of Gas…

DSME obtains refund guarantee #AngelicoussisShippingGroup #DaewooShipbuilding&MarineEngineering(DSME)

Daewoo Shipbuilding & Marine Engineering (DSME) obtained a refund guarantee (RG) from the state-run Korea Development Bank (KDB) for an order it won from a Greek shipping firm, the company said Monday.

The cash-strapped shipbuilder said it received a down payment amounting to 10 percent of the contract price from Angelicoussis Shipping Group on June 24 after securing an RG from KDB a…

DSME in further woes due to delayed payment, may go bankrupt in Sept #Angola’sstare-runoilcompanySonangol

Daewoo Shipbuilding & Marine Engineering Co. (DSME) could declare bankrupt if it fails to raise 1 trillion won ($871 million) over the next three months to run operations and pay maturing papers due to disruption in orders of two drill ships that had been planned to be delivered and paid by next month.

The financially-strapped shipbuilder had been anticipating payment from Angola’s stare-run oil…

New Leviathan plan submitted #andRatioOilExploration #AvnerOil #DelekDrilling

Leviathan map, from Noble

Partners on the massive Israeli Leviathan gas field have submitted a new plan for the field to the country’s authorities which will decrease its cost by some US$1 billion, increase production capacity by 5 Bcm, and bring the project onstream in Q4 2019.

The new plan would see Leviathan produce about 21 Bcm annually, and cost $5-6 billion. The initial plan was estimated…

GTT, Endel Team-up to Roll-out Membrane Containment Systems #Endelcompany1 #GTT #GTTmembranesystem. #LNG

21 June 2016. GTT and the Endel company1 reaffirmed their collaboration in the area of LNG as a marine fuel, following the recent signature of a Technical Assistance and License Agreement (TALA) for the construction of GTT membrane containment systems. In the framework of this agreement, Endel created a mock-up of a Mark III type GTT membrane system.

This partnership reinforces GTT’s and Endel’s…

Innovative ABB technology reduces emissions, increases efficiency of battery charging, reduces safety risk on HH Ferries route between Helsingør and Helsingborg

ABB will supply the complete power and propulsion systems for two HH Ferries Group vessels to become the world´s largest emission-free electric ferries. The modernizations utilize turnkey ABB solutions including batteries, an energy…

Korean Shipyards' Average Wage Grows over 100%, Dwarfing Japan's 5% #averagewageofJapaneseshipbuilders

Over the past 15 years, the average wage of Japanese shipbuilders grew 5 percent, while that of Korean shipyards more than doubled.

  According to industry sources on June 22, the annual wage of Korea’s seven major shipyards averaged at 74.15 million won in 2015, up 106 percent from 35.98 million won in 2000. When the shipbuilding market enjoyed a boom time from 2000 to 2010, the average wage…

Hanjin Shipping Received Warning from Financial Authorities, Creditors #HanjinShipping #HyundaiMerchantMarine

Hanjin Shipping is currently to be reluctant to agree to Hyundai Merchant Marine’s joining the THE Alliance.

With Hanjin Shipping being reluctant to agree to Hyundai Merchant Marine’s joining the THE Alliance these days, the South Korean financial authorities and creditors are looking to give a warning to Hanjin Shipping.

At present, Hyundai Merchant Marine is trying to obtain a membership in the…

BW Offshore Gets Breathing Space #BWOffshore #FloatingProductionStorageandOffloading(FPSO) #long-termfinancialplatform

Global operator of floating production storage and offloading (FPSO) units BW Offshore Limited has received an approval for its long-term financial platform as it aims to secure future liquidity.

The company has now received the required consents from all of its lending banks to implement the earlier announced financing plan which would contribute with more than USD 500 million in improved…

There are warning signs ahead for Daewoo Shipbuilding & Marine Engineering Co. (DSME) as the delivery of offshore plants worth 1 trillion won (US$866.93 million) is delayed due to the owner’s financing problems.

Daewoo Shipbuilding & Marine Engineering is suffering from the delivery delay of offshore plants worth 1 trillion won (US$866.93 million) due to the owner’s financing problems.

According…

Korean ‘Big Three’ Shipbuilders to Go On Strikes, Followed by STX #DaewooShipbuilding&MarineEngineering

Conflicts between the managements and labor unions of the ‘Big Three’ shipbuilders are on the rise while those of mid-size shipbuilders are in a harmony mood.

Conflicts between the managements and labor unions of the Korean ‘Big Three’ shipbuildersare on the rise. The local shipbuilders so called “Big Three” — Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy…

Korean Shipbuilders Working on Int’l Offshore Plant Design, Process Standards #BureauofShipping #Chevron

The top three South Korean shipbuilders are going to come up with a standard offshore plant design & processing model by working together with global energy companies.

Daewoo Shipbuilding & Marine Engineering’s Songa Project, which was completed in March this year, has resulted in a loss of no less than one trillion won. The design of the four offshore plants pertaining to the project was changed…

GE to provide maintenance services on Russian drilling rigs #CIMCRaffles #Gazflot’ssemisubmersibledrillingrigs

CIMC Raffles has awarded GE’s Marine Solutions a service contract to provide the first dry-dock services on two of Gazflot’s semisubmersible drilling rigs, Northern Lights and Polar Star.

During the dry-docking, the company will test its scope of supply and will replace and upgrade parts where necessary.

GE technologies onboard the rigs include dynamic positioning, automation, drilling drives, MV…

Will Hyundai Merchant Marine be Able to Obtain a Place in THE Alliance?

Hyundai Merchant Marine needs an approval from Hanjin Shipping to get the membership for the Alliance.

On June 15, Hyundai Merchant Marinepresident Lee Baek-hoon met with K Line president and CEO Eizo Murakami in Tokyo to discuss the former’s joining the THE Alliance. At the meeting, K Line mentioned that it would approve of Hyundai Merchant Marine’s membership in the THE Alliance sooner or later.

Korea’s SK Gas initiates energy trading via LPG tank in Singapore #DongbuPowerDangjinCorp. #GoseongGreenPower

South Korea’s major gas company SK Gas has embarked on energy trading business through liquefied petroleum gas (LPG) tank terminal it jointly set up in Jurong Island in Singapore with the world’s leading gas terminal operator Koninklijke Vopak NV based in the Netherlands.

The company announced on Wednesday that it held a ceremony marking the completion of LPG gas storage tank that can store…