Transocean Profit Declines as Drilling Demand Wanes

Transocean Ltd., owner of the rig that exploded in the Gulf of Mexico in April, said profit fell for a seventh consecutive quarter, the longest streak of declines in at least a decade, amid faltering demand for drilling vessels.
Net income fell 48 percent to $368 million, or $1.15 a share, during the third quarter, from $710 million, or $2.19, a year earlier, the Vernier, Switzerland-based company said in a statement. Excluding costs stemming from the April disaster, taxes and debt retirement, per-share profit was 3 cents higher than the average estimate of 30 analysts surveyed by Bloomberg.
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Source: Bloomberg

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Pipavav Shipyard gets licence for warship production news

Pipavav Shipyard has received c, making it the first shipyard in the private sector to receive such a licence.
The department of industrial policy and promotion (DIPP) issued the licence after screening by the ministries of home and defence and other related agencies, Pipavav said in a release.
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Source: Domain-b

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STX Finland to lay off up to 350 at shipyards

TX Finland, the builder of the world's largest cruise liners, said Wednesday it will permanently lay off up to 350 workers as orders for new vessels have dwindled.
CEO Juha Heikinheimo said the redundancies, at two yards in southwestern Finland, will likely begin next year because of poor demand and a "need to improve competitiveness."
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Source: BusinessWeek

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Digital welding boosts shipbuilding

In a move to cut costs and raise productivity, Hyundai Heavy Industries is expected to become the first shipbuilder in the world to adopt digital welding processes in shipbuilding.

Korea’s leading shipbuilder said yesterday that the digital welding will gradually be applied starting next year.

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Source: Joong Ang Daily

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Which of two Royal Caribbean cruise ships is the world's biggest? Let the 'argument of the seas' begin

Is Royal Caribbean's one-year-old Oasis of the Seas still the world's largest cruise ship or has it been eclipsed by its new sister, Allure of the Seas?
Cruise ship fans already are hotly debating the topic and so too, apparently, are the officers and crew on board the vessels, according to a report Tuesday in Norway's largest newspaper, VG.
The two ships, which can carry nearly 6,300 passenger a piece, were designed to be pretty much identical. But in August, at a press event at the shipyard in Finland where Allure of the Seas was under construction, Royal Caribbean executives revealed to USA TODAY and other news outlets that shipyard measurements showed Allure was a few millimeters longer than Oasis.
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Source: USA Today

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Cosco Corporation's reports Q3 net profit of S$55.1m

SINGAPORE : Cosco Corporation's third-quarter net profit has more than doubled from a year earlier.
This was largely due to higher revenue contribution from shipbuilding and dry bulk charter rates.
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Source: Channel News Asia

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