The Board of Investments (BOI) approved recently a P259 Mln ship repair facility of Philippine company Nautilus Shipyard Repair Inc. The facility will be located at the Navotas Fishery Port Complex in Navotas City. The facility, which will start its operations in June 2013, will have the capacity of 96 vessels every year. When operational, [...]
Chinese steelmaker Taiyuan Iron and Steel (Taiyuan Steel or TISCO) has won approval from China Classification Society for its forged steel round shipbuilding bar after an inspection by CCS officials. Few weeks ago, after the field test and evaluation by experts from China Classification Society (CCS), the carbon steel section and alloy structural steel forged round product [...]
Shell Global Solutions has listed the LIQUIDYNE pump shaft seal as best practice for use with its cooling water pumps worldwide. The LIQUIDYNE is also now included in Shell’s TAMAP (Technically Accepted Manufacturers and Products) list. IHC Lagersmit, part of IHC Merwede, specialises in sealing solutions for rotating shafts on ships, pumps, tidal turbines and [...]
Leading international classification society Bureau Veritas has given approval in principle for the basic design of a 14,000 teu containership to be powered by LNG. The design was developed in a joint industry project between Korea’s Daewoo Shipbuilding & Marine Engineering, liner major CMA-CGM and Bureau Veritas. Jean-Francois Segretain, deputy technical director, Bureau Veritas, says: [...]
![South Korea: DNB Approves Debt Facility to Hyundai Merchant Marine for Five New Container Vessels]()
Hyundai Merchant Marine closed on a $500 million debt facility on Tuesday from a syndicate of financial institutions led by DNB Bank. In order to fund the construction of five ultra-large container vessels being built at Daewoo Shipbuilding & Marine Engineering and planned to be delivered throughout 2014, HMM will utilize the loan from the [...]
Damen Services, part of Damen Shipyards Group, announces that its Damen Asset Management Operating System (DAMOS) has been independently approved by classification society Bureau Veritas. DAMOS is a unique vessel maintenance management system that allows customers to maximise uptime and optimise cost of ownership. DAMOS is part of the Damen Services Lifecycle Support System and [...]
The European Bank for Reconstruction and Development (EBRD) has approved a $155 million credit to Rosmorport, the Bank said. The loan is granted for modernization of Rosmorport’s fleet of environmental service fleet; procurement of oil boom laying workboats, skimmers, vessels for collection of shipboard wastes and dredgers, and other equipment. Categorised B in accordance with [...]
![Finland: EIB Approves USD 206 Million Loan to Wartsila for Company’s R&D Activities]()
The European Investment Bank (EIB) has granted a EUR 150 million loan to Wärtsilä to finance the company’s research, development and innovation activities in several European countries. Wärtsilä will invest the funds during 2011-2012 in research activities aimed at further developing the company’s engine technology for both marine and power plant applications. The contract for [...]
![USA: MARAD Approves Title XI Guarantee to VMS for Construction of Three 330.000 Barrel ATBs]()
The Maritime Administration has approved a $346,129,000 Title XI guarantee to Vessel Management Services, Inc., a wholly-owned subsidiary of Crowley Holdings, Inc., for the construction of three 330,000 barrel double hull tug/barge units. VT Halter Marine, Inc. in Gulfport, Mississippi is constructing the barges and Dakota Creek Industries in Anacortes, Washington has been retained to [...]
![CDB Approves Strategic Credit of USD 5.5 Billion for Rongsheng Heavy Industries Group]()
China Rongsheng Heavy Industries Group Holdings Limited, a large heavy industries group in China, has been granted a strategic credit of RMB35 billion by China Development Bank (“CDB”). Both parties signed a strategic collaboration agreement in Hefei today. On top of the RMB30 billion worth of strategic cooperation initiated this August, the agreement represents a [...]
