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Industry Update |
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DSME sale could take place before year-end, says KDB source
The state-owned Korea Development Bank (KDB), the majority shareholder of South Korea's Daewoo Shipbuilding & Marine Engineering (DSME), is "watching the markets" before relaunching...
19-Mar-2010
TKMS completes sale of commercial marine construction business
ThyssenKrupp Marine Systems (TKMS) Blohm+Voss Nordseewerke has completed the sale of its commercial marine construction business at Emden in Germany to SIAG Schaaf Industrie. ...
10-Mar-2010
Austal USA and General Dynamics split for LCS bids
Austal USA and General Dynamics Bath Iron Works (BIW) have revoked their teaming agreement on the Littoral Combat Ship (LCS) programme, Australian-based Austal announced ...
05-Mar-2010
Vietnam remains committed to naval modernisation
The Vietnam government has reiterated its intention to continue the modernisation of its naval assets as it seeks to protect its marine resources and ...
03-Mar-2010
*Spanish Navy looks to F-35B to replace Harriers
The Spanish Navy is completing a risk-reduction and viability study of the Lockheed Martin F-35B Lightning II short take-off and vertical-landing (STOVL) combat aircraft...
19-Feb-2010
Austal figures hindered by sluggish sales
Australian shipbuilder Austal has posted sharp falls in both revenues and net income during the first half of Fiscal Year 2009-2010 on the back ...
19-Feb-2010
Sevmash seeks shipyard staff to complete submarine projects
Russia's Sevmash shipyard needs an additional 500 workers in order to tackle a backlog in submarine production orders, the company announced on 11 February. ...
16-Feb-2010
Australian DoD launches partnership bid to solve Collins-class availability issues
The Australian Department of Defence (DoD) is to establish a joint programme office in March in an attempt to resolve availability problems with the ...
12-Feb-2010
Daewoo posts 43% net profit rise in 2009
South Korean naval shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has announced strong increases in both revenues and profits in Fiscal Year 2009. In...
09-Feb-2010
Raytheon wins support contract for Type 45 navigation system
Raytheon has secured a EUR26 million (USD36 million) contract to support the integrated bridge and navigation system it provided for the UK Royal Navy's ...
02-Feb-2010
CSIC rides the waves to post 18.5% rise in profit
State-owned China Shipbuilding Industry Corporation (CSIC) increased both revenues and profits in Fiscal Year 2009 (FY09) despite an "unusually tough year", the group announced ...
26-Jan-2010
Shipbuilders STX and ADSB agree to share data and technology
South Korea's STX Offshore and Shipbuilding and UAE-based Abu Dhabi Ship Building (ADSB) have signed a memorandum of understanding (MoU) to develop the latter's ...
21-Jan-2010
India closing in on MiG-29 aircraft deal with Russia
The Indian Ministry of Defence (MoD) is believed to be close to finalising a contract with Russia to procure an additional 29 MiG-29 'Fulcrum-D' fighter...
19-Jan-2010
Pal set to sign Indonesian LST contract
Pal Indonesia is expecting to sign a contract to construct a small number of tank landing ships (LSTs) for the Indonesian Navy (TNI-AL) within ...
07-Jan-2010
Hanjin Heavy Industries confirms job cuts
South Korean naval shipbuilder Hanjin Heavy Industries (HHI) plans to reduce its workforce by at least 30 per cent due to a decline in ...
05-Jan-2010
Citigroup unit to advise on DSME sale
A Seoul-based unit of Citigroup has been selected to act as adviser for the sale of South Korean naval shipbuilder Daewoo Shipbuilding & Marine ...
04-Jan-2010
India approves transfer of Hindustan Shipyard to MoD
The Indian government has approved a plan to transfer state-owned commercial shipbuilder Hindustan Shipyard Limited (HSL) from the Ministry of Shipping, Road and Highways ...
29-Dec-2009
BAE Systems wins Seahawk support deal
A BAE Systems Australia-led team has secured a contract to support the Royal Australian Navy's S-70B-2 Seahawk helicopter fleet, the company announced on 17 ...
22-Dec-2009
DCNS dusts off three-year-old growth strategy
DCNS announced on 8 December that it is aiming to grow sales by between 50 and 100 per cent over the coming 10 years through...
10-Dec-2009
NGV Tech seeks two-thirds stake in TKS
Malaysian shipbuilder NGV Tech is close to finalising its bid to acquire a 66 per cent stake in South Korean shipbuilder TKS, an executive...
07-Dec-2009
Pal Indonesia waits for corvette contract
State-owned shipbuilder Pal Indonesia expects to sign a contract shortly to begin co-development of a 2,400-ton corvette for the Indonesian Navy (TNI-AL), an official...
27-Nov-2009
China Shipbuilding to launch IPO in December
The China Shipbuilding Industry Corporation (CSIC) will launch an initial public offering (IPO) in early December, the company announced on 26 November. Although previous...
27-Nov-2009
Change at the top for Australia's ASC
Australia's state-owned ASC has appointed Stephen Ludlam, the president of Rolls-Royce Submarines, as managing director and chief executive officer, the company announced on 23 ...
23-Nov-2009
Lockheed Martin and Acacia team for SEA 1000 combat system bid
Lockheed Martin Australia and Acacia Research have signed a teaming agreement to bid for the combat system integrator role for the Royal Australian Navy's ...
12-Nov-2009
DCNS looks to expand business in Asia
DCNS has described the setting up of local partnerships as a key element of its business strategy for expanding its presence in Asia, a ...
04-Nov-2009
Rolls-Royce delivers fin stabilisers for UK's aircraft carrier
Rolls-Royce has delivered its Neptune stabilising fins to BVT Surface Fleet's shipyard in Govan for installation in the hull section of the UK Royal ...
27-Oct-2009
Atlas Elektronik establishes new subsidiary in South Korea
Naval systems manufacturer Atlas Elektronik has established a new subsidiary in Yangsan City, South Korea, the company announced on 23 October. The new entity,...
27-Oct-2009
Abu Dhabi MAR and ThyssenKrupp plan naval construction JV
German shipbuilder ThyssenKrupp Marine Systems (TKMS) has signed a memorandum of understanding with United Arab Emirates-based Abu Dhabi MAR Group. The partnership will establish...
23-Oct-2009
VT Group to sell 45% of BVT Surface Fleet
Shareholders of VT Group have approved the disposal of the company's 45 per cent shareholding BVT Surface Fleet Limited, thus clearing one of the ...
19-Oct-2009
Raytheon wins Canadian frigate navigation radar contract
The Canadian Navy's Halifax-class frigates are to be fitted with Raytheon NSC X-band and S-band navigation radar systems under a USD7 million contract awarded ...
13-Oct-2009
BVT to rebrand following VT exit
BAE Systems is to rebrand BVT Surface Fleet as BAE Systems Surface Ships following VT Group's imminent divestment from the shipbuilding and support joint ...
06-Oct-2009
Atlas Elektronik and QinetiQ complete underwater systems trade
Defence technology company QinetiQ completed the GBP23.5 million (USD37.5 million) sale of its Winfrith-based underwater systems business to Atlas Elektronik UK on 1 October ...
02-Oct-2009
Thailand expresses interest in South Korean Type 209 submarines
An increase in acquisitions of submarines by Southeast Asian countries is prompting Thailand to step up a gear in its bid to procure its ...
25-Sep-2009
VT's exit from BVT Surface Fleet marks end of an era
VT Group has signed a legally binding contract with BAE Systems to sell the former's stake in BVT Surface Fleet Limited, ending VT Group's 136-year...
25-Sep-2009
Atlas Elektronik to provide combat system for Korea's new submarines
Atlas Elektronik has been awarded its largest ever single order from Howaldtswerke-Deutsche Werft (HDW) to provide the ISUS 90-61 combat system for the Republic ...
15-Sep-2009
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