South Korean shipbuilding company Hyundai Samho Heavy Industries and Russia-based Zvezda Shipbuilding have formed a new joint venture (JV) known as Zvezda-Hyundai in Russia.

The new JV will be owned by Hyundai Samho and Zvezda Shipbuilding at a proportion of 49% and 51% respectively.

Hyundai will provide support in the fields of ship design, marketing, personnel and training under the arrangement.

DNV GL has joined hands with Hong Kong-based China Merchants Industry Holding (CMIH) to advance the development of the shipbuilding industry.

The two companies will focus on optimising construction processes and quality control, principally on the gas carrier, offshore and special vessel sectors, and developing vessels according to industry norms.

The collaboration will also work on classification and regulatory issues, along with research, development and training.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Norwegian ferry company Torghatten Nord has placed an order with Rolls-Royce for the supply of 15 gas engines for its new liquefied natural gas (LNG) fuelled vessels.

"Trafigura Group has placed an order worth more than $1.35bn via its Asian financial partner for up to 32 new crude oil and product tankers."

The vessels were designed by Multi Maritime and will be operated between Bergen and Stord from January 2019.

Rolls-Royce's C26:33L9AGs engines will feature nine cylinders, delivering a power of 2,430kW.

The engines have been built in accordance with the International Maritime Organisation’s (IMO) Tier 3 requirements and include built-in exhaust treating systems.

Global commodity trading company Trafigura Group has placed an order worth more than $1.35bn via its Asian financial partner for up to 32 new crude oil and product tankers. 

The deal includes a firm order for 22 crude oil and product tankers with options for ten additional vessels, including Medium Range (MR) tankers, LR2s and Suezmax tankers.

Trafigura will lease the new-builds from its partner, with an option to purchase at a later date if required.

Hyundai Heavy Industries (HHI) Group and China-based New Times Shipbuilding are constructing the vessels, with delivery scheduled to begin by the end of next year and continue through 2019.