Author: Importer

China's Guangzhou Shipyard International Co said it will call off a proposed $445 million acquisition of a shipyard from its state-owned parent as its shares have slumped in the global financial crisis.…

Gulf Energy Maritime (GEM), the Middle East's largest independent commercial product tanker operator, has taken delivery of the first ever Panamax built by Korean shipbuilder Hyundai Mipo Dockyard (HMD. The 75,000 DWT…

Riga Shipyard in Latvia has launched its third vessel this year. The fishing trawler "Helena Matte" was commissioned by a Danish company, which will fit out the vessel with electric, communications and…

Keppel Offshore & Marine Ltd (Keppel O&M), through Keppel Shipyard Limited (Keppel Shipyard) and Keppel FELS Brasil SA (Keppel FELS Brasil), has secured three contracts worth a total of about S$300 million.…

Nakilat and Netherlands-based Damen Group have signed a memorandum of understanding for establishing a Qatari majority joint venture, which will build a shipyard for construction of luxury yachts and ships for commercial…

South Korean builders have resumed their marketing activities for newbuildings, but Japanese yards are not dropping their wait-and-see stance. Shipyards in South Korea have been targeting order receipts in order to fill…

Belgium's Jan De Nul NV has reportedly cancelled three dredging vessels on order at South Korea's Asia Heavy Industries. The ships were scheduled to be delivered to the owner from August to…

Emerging South Korean shipyard C& Heavy Industries, which was seemingly pushed to the wall by its creditors, may yet have another lease of life. The shipyard had on Monday signed a memorandum…

GAC, the Kuwait-based provider of shipping, logistics, marine and related services, has launched GAC Ship Lay-up Solutions (GLUS), a new service package tailor-made to help owners/operators avoid non-profitable journeys, and reduce wear…

South Korean shipyards are asking state-run lenders to increase loans and extend financing for orders as a deeper-than-expected economic slump dries up their cash holdings, industry sources said. According to the sources,…