Author: Importer

Asian shipbuilders face an abrupt downturn in demand that could result in some yards going bankrupt as ship owners cancel or postpone orders, according to bankers and analysts. The problems could be…

Six Bangladeshi business groups will invest over Tk 500 crore($73 million) in a year to establish shipbuilding facilities across the country, sensing high export potential of the industry. The business houses with…

State-run Shipping Corp. of India Ltd (SCI) has asked for bids to buy four VLCCs, which currently cost $160 million each, to meet rising demand for crude in India. SCI currently owns…

South Korea's GS Group has withdrawn its bid to buy a controlling stake in Daewoo Shipbuilding & Marine Engineering together with POSCO, a media official at the conglomerate said. It had earlier…

Hyundai Heavy Industries has submitted a final bid for local rival Daewoo Shipbuilding & Marine Engineering according to a Hyundai Heavy source. The source, who has direct knowledge of the matter, declined…

Seadrill took delivery of the deep water drilling rig 'West Hercules' from the DSME shipyard in South Korea. West Hercules is a sixth generation, high specification, deepwater, state of the art semi-submersible…

POSCO and GS Group, rival South Korean bidders for Daewoo Shipbuilding, said yesterday they would team up in the race to buy the world's No. 3 shipbuilder. POSCO, the world's fourth-largest steelmaker,…

A preferred bidder for Daewoo Shipbuilding & Marine Engineering Co. is likely to be announced later this month, industry sources said. State-run Korea Development Bank (KDB) and a state-run asset manager are…

The USA has become the 53rd state to ratify Annex VI of the International Convention for the Prevention of Pollution from Ships (MARPOL), with the deposition of an instrument of ratification with…

Vroon Offshore Services of The Netherlands (VOS) today took delivery of another newbuilding, field support vessel VOS Prospector. The vessel was built by the Zamakona Shipyard in Spain.The newbuilding, designed for standby…

Kittiwake and BP announced yesterday that agreement has been reached and completed for Kittiwake Developments Ltd to purchase BP's majority shareholding in Krystallon Ltd effective immediately.In 2006 BP and Kittiwake formed Krystallon,…

A federal court in Virginia has handed the Shipbuilders Council of America its second victory this year in cases it brought against the US Coast Guard for allowing major work on Jones…

The Brazilian government has pledged R$10bn ($4.5bn) of soft-funding to support the country?s resurgent shipbuilding sector. The government?s chief of staff, Dilma Rousseff, said the funds would guarantee not only the construction…

Austal USA?s 127 metre trimaran Littoral Combat Ship, LCS 2 Independence, has been christened during an official ceremony held at its Mobile, Alabama shipyard.The General Dynamics LCS Team - within which Austal…

Multi-purpose ro-ro operator Sea-Cargo AS in Norway has placed an order for four cargo ferries powered by LNG rather than bunker fuel. They are believed to be the first of their kind.In…

Marco Polo Marine Ltd in Singapore has, via its wholly-owned subsidiary Bina Marine Pte Ltd, secured a S$74.5 million contract to build an 80m DP2 subsea operations vessel for Hallin Marine Subsea…

ExxonMobil has entered into an agreement with Pratt & Whitney Rocketdyne to develop next-generation technology to convert coal, coke or biomass to synthesis gas (i.e., CO and hydrogen), which could facilitate the…

The government in India is planning to revive the subsidy scheme in shipbuilding, discontinued since August 2007. "A cabinet note on the extension of subsidy for the shipbuilding industry will be circulated…

Orders for new container ships have dried up as vessel charter rates and ocean freight rates tumble and volume growth slows on key liner trade routes. Enquiries to shipbuilders about new tonnage…