South Korean shipbuilding giant Daewoo Shipbuilding & Marine Engineering (DSME) has seen a healthy order intake in the previous month, putting DSME’s 2014 secured orders value at approximately 5.8 billion USD.   DSME’s figures back the estimates that South Korean shipbuilding is entering the recovery mode after it lost its top spot to Chinese rivals.   According to Clarkson’s data cited by Yonhap, South Korean shipbuilders reclaimed their top position after five months as the...

China’s shipping firm E-Sunrise (Group) Co has ordered 10 jack-up platforms from Wuhan Marine Machinery Plant (WMMP), subsidiary of China Shipbuilding Industry Corporation (CSIC).   Construction on the first three jack-up platforms will start this year and the first unit will be delivered 18 months later. Thereafter, the remaining nine units will be delivered at a three-month interval each.   Financial details of the deal were not disclosed.   Guangzhou-headquartered E-Sun...

Nippon Yusen Kaisha (NYK) was the only of Japan’s “big three” shipping companies to report an increase in first quarter profits. NYK reported a net profit of JPY10.2bn ($99.83m) for the first quarter ended 30 June 2014 compared JPY8.57bn a year earlier. Revenues were also up at JPY582.4bn for the first quarter compared to JPY528.5bn in the same period in the previous year. Although profitability showed a slight improvement NYK was negative about the business environment for shipping. “Th...

Hyundai Heavy Industries (HHI), has developed a collision avoidance system, known as the Hyundai Intelligent Collision Avoidance Support System (HiCASS), the first of its kind in South Korea, to ensure safe and optimum navigation of the vessels. The system searches the optimum sea routes and prevents collisions by automatically detecting potential obstacles such as ships and reefs within 50 km. In addition, the enhanced accuracy of the system enables vessels to identify hazards based on the ...