General News

The Kuwaiti Oil Tanker Company (KOTC) finalized a contract with the Korean shipbuilder Hyundai Heavy Industries at a cost of $182 million to build three tankers for delivery in 2006, 2007 and…

NCL Corporation will be the first cruise line to bring passengers on North American cruises the ability to use their cell phones even when communications towers are oceans away. The company is…

Tankers sold for scrap at ship breaking yards fell 40% during the first seven months of the year as surging freight rates prompted owners to keep vessels in service, London-based shipbroker Simpson,…

Radix Marine, a US-based marine vessel development company specializing in port and homeland security and defense initiatives, signed a contract to build two prototype manned vessels with a marine technology company, Advanced…

Construction on a new 300,000dwt dry dock has started at the Yongyue Shipyard at their at Mashidao facility in China. The ship repairer and shipbuilder will complete this dock by the end…

An international labour standard designed to create a new biometric identity verification system for the world's 1.2 million seafarers has received sufficient ratifications to go into force on 9 February 2005, the…

Aker Kvaerner has signed a letter of intent to perform fabrication, outfitting and testing of seven barges for oil production in the giant Kashagan oilfield in the north Caspian Sea, offshore Kazakhstan.…

Iran hopes the first ship to be built for the Islamic Republic of Iran Shipping Lines (IRISL) at a local shipyard can be launched next year. Despite slow progress in the field…

Daewoo Shipbuilding Marine Engineering (DSME), the world's No.2 shipbuilder, announced that its second-quarter profit rose 12% as gains in sales of newbuildings were bolstered by currency hedges. Net income rose to $78…