S. Korea: Shipbuilding Industry Urged to keep up Restructuring Efforts

South Korea’s top financial regulator on Thursday called on shipbuilders to keep up their restructuring efforts, saying that the recent recovery in orders may be short-lived amid a trade spat between Washington and Beijing. Choi Jong-ku, chairman of the Financial Services Commission (FSC), made the remarks at a meeting to assess the situation of the
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The prestigious SHIPPINGInsight Award for 2018 was presented today to CMA CGM Group and Shone Automation for an artificial intelligence pilot program for bridge operations at the 7th Fleet Optimization & Innovation Conference in Stamford, Connecticut. The award is presented annually to honor a shipping company and its technology partners for the successful implementation of
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We4Sea, a maritime technology start-up, focussed on increasing the fuel efficiency and lower the emissions of seagoing ships, is now officially certified by Verifavia for both IMO-DCS as EU-MRV emission monitoring. We4Sea developed a world’s first non-Capex fuel monitoring solution, to optimize the performance ánd reduce fuel consumption and emissions of seagoing ships. We4Sea collects
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Tidewater Inc. and GulfMark Offshore, Inc. announced the filing of the joint definitive proxy statement and prospectus with the U.S. Securities and Exchange Commission (the “SEC”) regarding the pending business combination pursuant to which Tidewater has agreed to acquire all of GulfMark’s outstanding shares in a stock for stock exchange. Both companies’ Boards of Directors
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There were a total of 113 ships broken in the third quarter of 2018. Of these, 79 ships were sold to the beaches of South Asia for dirty and dangerous breaking. Between July and September, three workers have lost their lives when breaking ships in Alang, India. So far this year, Platform sources have recorded
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The international shipping industry may be still reeling from the major economic downturn a decade ago, but prospects will look better starting next year, according to a maritime school official. Dr. Neopol Salvador, director of the School of Graduate Studies at the Asian Institute of Maritime Studies (AIMS), said the shipping market was still suffering
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The state owned Cochin Shipyard will soon take up the Operation and Maintenance of the Marine dry dock at Port Blair besides assisting the Island administration in setting up a ship repair ecosystem. It will also help in augmentation of the Marine dockyard and skill development and training schemes of Andaman and Nicobar islands. The
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CSSC Leasing, a division of China State Shipbuilding Corporation (CSSC), has reportedly exercised an option for two more baby-cape newbuildings at CSSC’s Huangpu Wenchong Shipbuilding, Clarksons Platou Shipbroking said in a report. The ships are to be chartered out to Geneva-based freight trader Cargill, under a deal announced in June, 2018, when four ships were ordered. The
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SINGAPORE: Mr. Nicolas Sartinim – CEO, APL in a recent statement has announced the launched of the new website. In a statement on 15th Oct 2018, he said, “I am pleased to announce the official launch of the new APL.com and APL eBusiness – today! The mobile-friendly APL.com is integrated with APL eBusiness, offering a
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PARSIPPANY: INTTRA, the largest neutral network, software and information provider at the center of the ocean industry, today announced that Wan Hai Lines, Taiwan’s premier shipping company, has joined its network. This addition means INTTRA is now working with the top 12 carriers. Wan Hai continues the global expansion of INTTRA’s network. The addition of
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