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Mitsubishi Heavy will combat shipbuilding crisis through alliances

Suppliers:

Japanese shipbuilder Mitsubishi Heavy Industries will launch alliances talks with three of the country's other yards in an attempt to strengthen competitiveness in the global market. Overcapacity and zero orders are keeping the sector mired in crisis.


BY DANIEL LOGAN BERG-MUNCH
Published 30.08.16 at 14:53

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Most read Suppliers

Rolls-Royce injects billions in fresh capital into Norwegian marine business

ROLLS III.JPG Suppliers:

The engine behemoth has booked huge losses on its Norwegian subsidiaries, Rolls-Royce Marine in particular. The UK parent company has subsequently injected more than NOK 2 billion in fresh equity into its marine business in Norway, which is severely strained by the downturn in offshore, reports Finansavisen.

South Korean shipbuilders beat China in orders

Suppliers:

Shipyards in South Korea have surpassed China again in terms of receiving the most orders for new ships and platforms. The major South Korean yards have been in the doldrums in recent years, but 2017 has been positive so far.

Monjasa risks exclusion from bunker association

Suppliers:

Monjasa seemingly faces exclusion from the International Bunker Industry Association IBIA after the fraud conviction. "I expect that the board will discuss the situation soon," says Chairman Robin Meech to Finans and ShippingWatch.

Study: Problems with half of all ballast water systems

Suppliers:

Close to half of all ballast water management systems installed on vessels in the global fleet are not working or are deemed problematic, shows new study performed by classification bureau ABS.

Hempel: New antifouling can save up to 8 percent on fuel

Suppliers:

According to Hempel, the company's new antifouling can save as much as eight percent on carriers' fuel costs. If not, Hempel promises to pay to have the ships converted to their former antifouling.

MPA got clear warnings about Dennis Tan before OW collapse

Suppliers:

The Maritime and Port Authority of Sinagpore received repeated warnings about oil trader Dennis Tan in the years ahead of OW Bunker's collapse, documents reveal. His bunker company Tankoil was the perhaps biggest contributing factor behind the OW Bunker bankruptcy in 2014.

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CEO has leaned down J. Lauritzen for tough years

Mads Zacho 4.jpg Bulk:

CEO Mads P. Zacho has reduced expenses at J. Lauritzen in order to prepare the carrier for a protracted downturn on the dry bulk market. There is no need for more major cost cutting, he tells ShippingWatch.

Hafnia Tankers books deficit for Q2

Tanker:

Hafnia Tankers' bottom line went negative in the second quarter, as the market remains characterized by an oversupply of vessels and full oil deposits.

DFDS Executive VP: I've sometimes listened a bit too much

Carriers:

Is it possible to listen too much when collaborating? Yes, at times, says Executive VP Peder Gellert Pedersen of DFDS. For instance in the executive group. "I've been too attentive rather than forcing decisions through," he says in ShippingWatch's series on leadership.

Pacific Basin looking at new asset acquisition opportunities

Bulk:

Among the dry bulk carriers, Pacific Basin is one of the few players so confident in the market that it has performed a significant fleet expansion. And more could be underway. ShippingWatch has interviewed CEO Mats Berglund about where the optimism comes from.

Gothenburg port conflict could lead to bankruptcies

Ports:

The year-long conflict in the port of Gothenburg involving APM Terminals has proved expensive for Swedish industry. Swedish chamber of commerce projects that the conflict could trigger bankruptcies, according to newspaper Dagens Nyheter.

South Korean shipbuilders beat China in orders

Suppliers:

Shipyards in South Korea have surpassed China again in terms of receiving the most orders for new ships and platforms. The major South Korean yards have been in the doldrums in recent years, but 2017 has been positive so far.

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