Author: Importer

COSCO Corporation (Singapore) reports that its 51%-owned subsidiary, COSCO Shipyard Group, has secured a contract from Sevan Drilling Pte Ltd, a subsidiary of Oslo-Sevan Marine ASA, to build a Sevan drilling unit,…

Cebu's shipbuilding industry has attracted two Singaporean firms which are planning to invest about $400 million in the fast-growing industry, a Maritime Industry Authority (Marina) official said.Marina Administrator Vicente Suazo said he…

The Chairman of state-owned National Iranian Tanker Company (NITC), a subsidiary of the National Iranian Oil Company, said that the company is planning to buy seven VLCCs to its current fleet of…

Samsung Heavy Industries has won an order for two 90,000 cbm LNG carriers from a European shipowner. Total contract price is $426 million and delivery is scheduled by May 2011.

Shares in Europe's largest shipbuilder, Aker Yards ASA, plunged nearly 12% on key owner Aker ASA's announcement that it was selling its entire 40.1% stake.Aker Yards was created in 2004 as a…

BAE Systems and VT Group have provisionally agreed the ownership structure of their shipbuilding joint venture and are believed to have asked Sir John Parker, the chairman of National Grid Transco, to…

The increase in global ship construction and the increasing demand for large ships encouraged Metin and Nevzat Kalkavan to invest $120 million in the Sedef Shipyard. They have started work on producing…

In what may be the biggest vessel acquisition plan by an Indian shipping company, state-owned Shipping Corporation of India (SCI) will invest around $3 billion over the next four years to acquire…

Hyundai Mipo Dockyard has won an order for five roros at the price of W 407.9 billion from a European ship owner. They will be delivered by April 2011.

The Finland-based AC drives manufacturer Vacon strengthened its global presence by opening a subsidiary in Australia. With the head office in Melbourne, and sales offices in Perth and Brisbane, Vacon Pacific will…