General News

Singapore-based Hallin Marine Subsea International has backed out of a contract after the shipyard was unable to secure refund guarantees. Shipbuilder Marco Polo Marine in Batam confirmed that the $51 million contract…

Petroleum Geo-Services ASA and its subsidiary Arrow Seismic Invest II Ltd. have exercised their right to cancel a high-capacity seismic newbuilding under construction at the Factorias Vulcano shipyard in Spain. Hull number…

Bahamas Ferries recently took delivery of a 41m by 12m catamaran, the Bo Hengy II, from Aluminium Marine of Queensland. Built to a design by Oceanic Yacht Design, also of Queensland, the…

South Korean and Chinese efforts to restructure their respective shipbuilding sectors are backward looking and inadequate , according to Shipbuilders' Association of Japan executive director Nobutaka Nambu. Nambu said that he would…

Samsung Heavy Industries vice-chairman Kim Jing-wan recently said, "We may receive new orders from Russia next month." He said in an interview with local press, "From the second half considerable amount of…

With shipbreaking very much back in vogue in the current tough freight rate environment, owners choice of breaking yards may well be severely curtailed. Environmentalists are hailing a Bangladesh High Court decision…

Researchers at London?s Clarkson shipbroking agency said that newbuilding prices plummeted again in January and would continue to fall. The price of newbuild ships fell by 6.1% in January. In the price…

The Shinhan Bank in South Korea, in charge of managing the financial affairs of Nok Bong Shipbuilding, has threatened the yard with liquidation. Shinhan recommended the liquidation to Evaland Shipping, the Greek…

Although Monaco-based cruiseship company Silversea is keen on exercising its option for a second 36,000GT vessel, it is seeking a substantial price cut from Italian shipbuilder Fincantieri. Chief Executive Amerigo Perasso said…

The world fleet of dry bulk and general cargo vessels is expected to continue growing through 2012, in spite of weak freight rates and general overcapacity of tonnage, as new ships on…

Philippine cabinet members are confident that South Korea's Hanjin Heavy Industries and Construction Co will continue a $2bn shipyard project in Mindanao. The Korean firm started site development last year but pulled…

The naming ceremony was held for the two largest car carriers built in China to date. The pair, ordered by Norway?s car carrier specialist Dyvi and built at Samjin Shipbuilding Industry (SSI)…

China Shipping Development and Sinotrans Shipping could be encouraged by Beijing to take on some of the vessels cancelled by foreign owners to support Chinese shipyards. Macquarie Research analyst Jon Windham estimated…

Cunard Line revealed the first details of its 90,400gt newbuild Queen Elizabeth from Fincantieri?s Monfalcone yard, due to enter service in October 2010. The vessel will be the second largest Cunarder built…

Last month, Weichai Power, a diesel engine company, said it would spend about $3.8 million to acquire the products, technology and brand of France?s Moteurs Baudouin, which designs and manufactures marine propulsion…

German shipbuilders face order cancellations worth as much as 936 million Euros ($1.2 billion) this year as the industry reels from overcapacity, the Economy Ministry said. Shipyards in ports from Emden in…

Japanese export ship orders tumbled on a year-on-year basis for the fifth consecutive month in February as demand for new vessels flagged amid the deepening global economic slump. Japan received orders for…

Creditors of C&Heavy Industries Co in South Korea announced that they have terminated the troubled shipbuilder?s debt workout program. The move came after a Malaysian fund that showed interest in taking over…

Korean shipbuilders are diversifying and introducing new advanced shipbuilding technologies to continue growing in a hostile business environment. Samsung Heavy Industries recently completed construction of the world?s largest semi-submersible offshore oil rig,…

Qingshan shipyard of China Changjiang Shipbuilding Industry in Wuhan officially delivered its first 57,000 dwt bulk carrier which will be exported to Greece this month. It is the largest ship built in…