Latest News – Page 1025
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Sovcomflot lobbies for IPO
Russia's largest shipping company, state-owned Sovcomflot, wants the government to float 35 to 40% of its shares to raise up to $300 million. The company?s general director Dmitry Skarga said the company preferred American depositary receipts as a way for listing the company's stock abroad, which would help the oil ...
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Austal venture chases $2bn naval contact
Austal Ships has teamed with Raytheon Australia to bid for the upcoming Australian Government tender to build two 25,000 tonne 200 metre long amphibious ships, which is due to be issued in early 2005."By combining Austal?s impressive track record of on time, on budget shipbuilding with Raytheon's expertise in electronic ...
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BC Ferries rejects union claim
A union representing Canadian shipyard workers claims BC Ferries has already decided to have new ships built by in Germany. The allegation was made by George MacPherson, president of the B.C. General Shipyard Workers Federation who claims Hahn is taking orders from the provincial Liberal government to build new superferries ...
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IHC Caland yard sale
Dutch offshore engineering and shipbuilding group IHC Caland has reported a half-year profit of $53.8m which is well ahead of the $34.2m made in 2003 that included losses at the van der Giessen-de Noord yard. The company reports new orders in the six months to June 30 of a total ...
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Wärtsilä sells off high-speed engine rights
Wärtsilä has sold the product rights of the high-speed Wärtsilä 200 and 220 product family to Dresser Inc. Waukesha business unit in the USA. Wärtsilä will continue to provide service for the engine base as before and this transaction does not include transfer of personnel. Wärtsilä is also negotiating the ...
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Fire Prevention at SMM
Norwegian Maritime Equipment has for some time provided portable and fixed fire fighting units for external fire on vessels and offshore installations. Recently, however, it introduced its own brand, the Nor-FiFi. Visitors to Norwegian Maritime Equipment?s booth SMM will be able to find out more about the units, which can ...
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ThyssenKrupp, HDW to hold on to all shipyards
ThyssenKrupp AG said all shipyard sites would be kept as part of its merger with One Equity Partners (OEP) unit Howaldtswerke-Deutsche Werft AG (HDW), which is expected to be contractually sealed by the end of September, and finally completed by the end of December.'Under the new structure all existing locations ...
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TEN orders versatile Aframax
Tsakos Energy Navigation (TEN) has ordered one Aframax double-hulled tanker, with a carrying capacity of 105,000 dwt. The vessel, featuring a new design that will provide customers with new options for moving cargoes in the Aframax class, will be built by Sumitomo in Japan, and is scheduled for delivery in ...
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K Line inks agreement for new LNG carrier
Kawasaki Kisen Kaisha (K Line) has executed a shipbuilding contract with Kawasaki Shipbuilding Corporation for a 145,000m3 LNG carrier scheduled for delivery in 4th quarter of 2007. The company has also signed a time charter agreement for a period up to 10 years with the Swiss company J&S Cheniere S.A.. ...
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Posco to up thick steel plate production
Posco in South Korea will be increasing production of thick steel plates from 3.3 million tonnes per year to 3.8 million tonnes by 2008 in order to provide sufficient steel supply to Korean shipbuilders which have faced difficulties in securing steel plates. In addition, it will install and operate another ...
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BAE refuses to give long-term commitment
The shock announcement comes amid fears that BAE's yards at Scotstoun and Govan could be sold off as the result of a row with defence chiefs. The call was made as VIPs gathered at Govan for a steel cutting ceremony to mark the beginning of construction of a Type 45 ...
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ATC says LRAD business growing.
American Technology Corporation (ATC) has issued a report on recent developments regarding its growing LRAD business. LRAD is a breakthrough long-range hailing and warning, directed acoustic device designed to communicate with authority and exceptionally high intelligibility. From either a static or mobile location, LRAD can transmit a verbal challenge with ...
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Piracy being reduced in Malacca Straits
Indonesia's naval commander says piracy in the Malacca Straits has decreased as a result of three-nation patrols which began in the waterway last month. In his report, Vice Admiral Didik Herupurnomo said the attacks are down from an average of nine a month to four. The joint patrols involve the ...
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KMY to build DAS Arctic boxship
MMC Norilsk Nickel in Russia and Kvaerner Masa-Yards, part of Aker Yards, have signed a newbuilding contract for one 14.500DWT arctic container vessel for operation in the Northern sea route of Russia. "Norilsk Nickel is in the process of improving its transportation logistics to secure on-time and cost efficient transportation ...
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Schat-Harding expands into Asian market
Lifeboat and davit specialist Schat-Harding has taken over the Chinese Beiyang Boatbuilding Company lifeboat manufacturing range and plant as part of a strategy to expand its market share in cargo ships built in Asian yards. The lifeboat factory, at Qingdao, currently produces a range of five models and 100 boats ...
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MES achieves record
Mitsui Engineering and Shipbuilding (MES) in Japan reports that its accumulated diesel engine production has reached 45 million bhp (33 million kW) and is the first engine manufacturer in the world to achieve this output. The engine marking this occasion is a MAN B&W 7S50MC Mark6, which will be installed ...
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Aker's EBITA on course
Aker Yards ASA reported an EBITA (Earnings Before Interest, Taxes and Depreciation) of NOK 148 million in the second quarter, which corresponds to an EBITA-margin of 4.5%. The margin so far this year is 5.2% and operations are developing according to plan, and the guidance for this year is maintained. ...
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HMM orders Panamax boxship trio
Hyundai Merchant Marine (HMM) has ordered three 4,700TEU container ships from Hyundai Heavy Industries at a total cost of $200million. Ship particulars are 294.1m long, 32.2m wide, a depth of 21.8m, speed of 25.2 knots and deliveries scheduled for April to September 2007.
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MAN B&W to power Gotland fast ferry
MAN B&W Diesel has received an order to supply 4 x 20RK280 engines to Italian ship builder Fincantieri. The Italian company has secured a contract to build a 122 metre monohull fast ferry at its Riva Trigoso facility east of Genoa. The vessel has been ordered by the largest Swedish ...
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Finnish/Swedish consortium orders Panamax pair
Concordia Maritime signed an agreement to participate on a 50/50 basis in a consortium, which will own two Panamax product tankers built to Finnish/Swedish ice class 1A specifications and ordered by Concordia Maritime.A 10-year time-charter agreement has been signed with the Finnish energy group Fortum. The vessels, which will be ...
