Rolls-Royce Marine has offered all its around 1,650 employees in the group's Norwegian marine division a voluntary severance packages. This comes as part of the company's plans to cut some 800 employees from its global marine business.
Daewoo Shipbuilding & Marine Engineering is looking into its options to prepare for the maturation of massive debt in April, and the company is in talks with certain customers, the CEO tells Korean media. The yard faces close to USD 900 million in debt maturing this year.
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering has won its first order this year, reports Korea Herald. The order for two vessels hits a dry spot for the yard which is in the midst of dire financial woes.
According to a news media, South Korea's government could be on track to inject upwards of KRW 3 trillion into ailing Daewoo Shipbuilding & Marine Engineering, which published its results on Wednesday this week.
The employees at Daewoo Shipbuilding & Marine Engineering are prepared to discuss reduced wages in an effort to save the ailing shipyard. Employee union will now meet with management, reports Korea Herald. The yard could be facing huge state assistance.
The country's three biggest shipbuilders looks set to note an all-time high combined loss in the past year. If this holds, it will be the first time that all three yards book simultaneous deficits. And 2016 looks bleak.
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.
"The bottom line is still that this result is not satisfactory," says Rolf Habben Jansen, CEO of Hapag-Lloyd, which has just published its report for last year. 2017 also saw a tough start for the carrier.
Chilean-owned but Denmark-based Ultrabulk can, unlike many of its competitors, present yet another profit in its books for 2016. Speaking to ShippingWatch, CEO Per Lange describes 2017 as a year which showed several positive trends for dry bulk.
Several critical observers question US Secretary of Commerce Wilbur Ross' continued ownership of product tanker carrier Diamond S Shipping. The carrier's ties to China in particular are being criticized by ethics experts who point to possible conflicts of interest.
Things have not moved quite as fast in Asia as expected since Svitzer opened office in Singapore in early 2016. The strategy in the region will change when the new overall strategy for Svitzer is settled in the second quarter this year, Managing Director Alan Bradley tells ShippingWatch.