By Jeannette Neumann (Bloomberg) -- Spanish shipbuilder Navantia is stepping up its bet on offshore wind energy, a venture that stands to benefit from the European Union’s fiscal response to the pandemic. The landmark 750 billion-euro ($890 billion) pandemic-recovery aid will encourage Spain to invest more in clean energy. That could galvanize the company’s recent pivot into … [Read more...]
Global Ship Orders May Take Decade to Mend as Crisis Builds
By Krystal Chia and Annie Lee There’s hardly anyone buying new ships, with orders plunging to a 20-year low due to a potent combination of uncertainty over environmental regulations, the economic fallout from the coronavirus pandemic and a lack of financing. “The IMO has brought in significant, ambitious and important targets around emissions,” said Clarksons Research’s … [Read more...]
$19 Billion LNG Ship Order a Boon for South Korean Shipbuilders
SEOUL, June 2 (Reuters) - South Korea's ailing shipbuilders have been thrown a lifeline in an increasingly tough market with a $19 billion order from Qatar Petroleum (QP) for liquefied natural gas (LNG) ships, analysts said on Tuesday. Qatar's state-run LNG producer signed agreements with South Korea's "Big 3" shipyards on Monday to secure more than 100 ships through 2027, … [Read more...]
Qatar Launches Largest LNG Shipbuilding Program in History at Korean Yards
State-owned Qatar Petroleum has entered into shipbuilding agreements with South Korea’s “Big 3” shipyards for the construction of up to 100 LNG carriers valued at more than US$19 billion. The deal is beleived to be the largest LNG shipbuilding program in history. Under the agreement, Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries (HHI) and … [Read more...]
Japan Takes Second Complaint to WTO Over South Korean Shipbuilding
A worker near a ship which is currently under construction at Hyundai Heavy Industries' Shipyard in Ulsan, South Korea, May 13, 2015. REUTERS/Kim Hong-Ji/File Photo BRUSSELS, Feb 10 (Reuters) - Japan launched a second complaint at the World Trade Organization on Monday over support South Korea gives its shipbuilding industry, intensifying a wider dispute between the two … [Read more...]