Executive Briefings

Two Asian Shipyards To Close, More Could Follow

Singapore-based offshore services company Vallianz has closed its repair and maintenance shipyard in Singapore, and the move will soon be followed by another closure in the region when Hyundai Heavy Industries closes its Gunsan yard.

Vallianz says it will consolidate its yard operations in Batam, Indonesia, citing slower market conditions for its streamlining initiative which includes the closure of non-core business units so that it can focus on vessel chartering. Other closures include the group's third party crew management and travel services.

The Batam marine base will continue to service the group’s fleet and support its chartering activities, particularly in the Middle East.

South Korean Suffering Continues

Media reports indicate that Hyundai Heavy Industries will cease operations at its Gunsan Shipyard in March, a move first touted last year.

The Gunsan yard is a relatively new operation that started up nearly 10 years ago. Its 650 employees have been offered voluntary redundancy. Workers that choose to stay will be transferred to the company’s Ulsan shipyard.

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Vallianz says it will consolidate its yard operations in Batam, Indonesia, citing slower market conditions for its streamlining initiative which includes the closure of non-core business units so that it can focus on vessel chartering. Other closures include the group's third party crew management and travel services.

The Batam marine base will continue to service the group’s fleet and support its chartering activities, particularly in the Middle East.

South Korean Suffering Continues

Media reports indicate that Hyundai Heavy Industries will cease operations at its Gunsan Shipyard in March, a move first touted last year.

The Gunsan yard is a relatively new operation that started up nearly 10 years ago. Its 650 employees have been offered voluntary redundancy. Workers that choose to stay will be transferred to the company’s Ulsan shipyard.

Read Full Article