Daewoo Shipbuilding & Marine Engineering (DSME) has been awarded a contract worth approximately KRW470bn ($420m) by South Korean company Hyundai Merchant Marine (HMM) for the construction of five 300,000dwt very large crude carriers (VLCC).

The construction of the vessels is set to be financed under the Korean Government’s KRW2.6tr ($2.28bn) New Shipbuilding Programme.

Delivery of the ships is expected to commence in the first half of 2019.

The contract also includes an option for construction of five additional VLCC vessels.

Mitsubishi Heavy Industries Mechatronics Systems (MHI-MS) has agreed to provide licensing to China's Jiangsu Masada Heavy Industries for the production and sale of hose-handling and slim deck cranes for container ships.

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The agreement is expected to allow Jiangsu Masada Heavy Industries to expand its product portfolio in China.

"Mitsubishi Heavy Industries Mechatronics Systems (MHI-MS) has agreed to provide licensing to China's Jiangsu Masada Heavy Industries for the production and sale of hose-handling and slim deck cranes."

MHI will license the manufacture and sale of three series of hose-handling cranes featuring hoisting loads of 10t, 15t and 20t respectively, which are mainly suitable for use on medium-range (MR) tankers and larger vessels.

Jiangsu Masada Heavy Industries will produce and sell slim deck cranes for container ships as part of the arrangement, including the 45t series.

Wärtsilä has received a contract  to provide re-liquefaction plants for three new liquefied natural gas (LNG) carriers that are currently under construction at Samsung Heavy Industries' (SHI) and Hyundai Heavy Industries' (HHI) fabrication yards.

The re-liquefaction plants will feature a capacity of 1.5t/h-2.5t/h and are expected to include Wärtsilä's new energy-efficient mixed refrigerant (MR) technology.

Delivery of the contracted equipment is slated to begin in February 2018.