General News

COSCO has signed an agreement with the Jiangsu Qidong municipal government to expand its rig-building capacity. The new yard will be located at the entrance of the Yangtze River and will cover…

British company BAE Systems has struck a $775 million takeover deal with one of Australia's biggest defence firms, Tenix Defence. The deal, which would make BAE the largest supplier to the Australian…

Hyundai Heavy Industries (HHI) announced that it will construct its No.2 shipyard in Kunsan city, Chollabuk-do. The new shipyard will be equipped with a newbuilding dock and an outfitting basin at a…

Cosco Corp (Singapore) said its 51% owned unit Cosco Shipyard Group will build a new yard in China that will focus on rigs and other oil and gas-related vessels. Work on the…

Hyundai Heavy Industries will spend 407.2 billion won ($435.6 million) building docks and other facilities at its Kunsan shipyard, southwest of Seoul, South Korea. The investment would be made by January, 2010…

Singapore-based ASL Marine Holdings Ltd. which owns shipyards in Singapore, Batam(Indonesia) and Guangdong (China), secured new shipbuilding contracts worth S$96 million ($67 million) for the construction of seven vessels. The seven vessels…

Lloyd?s Register North America, Inc., U.S. Bancorp, and Resurgence Software have collaborated to create the patent pending Voyager Maritime Payment Solution, a seamless, secure, and quality-assured method of acquiring and financing fuels.…

A strategic alliance between Rolls-Royce and UCT Coatings Inc. is bringing new technology to the marine market and is about to start work on a $7m U.S. Navy research contract. The contract,…

Siem Offshore Inc. in Norway has signed contracts for two large and environmentally friendly anchor handling vessels (AHTS) with Norwegian shipbuilding group Kleven Maritime. Kleven Verft in Ulsteinvik, Norway, in cooperation with…

Japanese heavy machinery maker IHI Corp. and steelmaker JFE Holdings Inc. are engaged in talks to merge their shipbuilding operations to create the world's sixth largest shipbuilder. JFE, the world's third-biggest steelmaker,…

The first application of the SkySails towing kite propulsion system on a cargo vessel has been undertaken by Beluga Shipping GmbH. The multi-purpose heavy lift vessel was recently christened ?Beluga SkySails? and…

A Yarmouth shipbuilding yard recently launched a 19 metre trawler. The vessel, the ?Amethyst?, slid down the slipway at Richards Dry Dock & Engineering (RDDE) in Great Yarmouth, England, and will soon…

Damen Shipyards Group has purchased 49% of the shares of Albwardy Marine Engineering (AME), Dubai, UAE. AME is active in ship repair, shipbuilding, repair of offshore units and diving activities and has…

With the Tamil Nadu cabinet clearing the project, Larsen and Toubro Ltd (L&T) will move ahead to set up a Rs3,000 crore new shipyard-cum-port project at Kattupalli in Thiruvallur district of Tamil…

Mumbai-based Bharati Shipyard is all set to construct a greenfield modern shipyard at Usgaon near the Dabhol port in Maharashtra's Ratnagiri district. The new yard would have the capacity to build vessels…

Korean shipbuilder Hanjin Heavy Industries and Construction Co. has signed a deal to build a $2 billion shipbuilding complex with the Phividec Industrial Authority, the state-run agency tasked to develop industrial sites.…

Hyproc Shipping Co., Algeria's state- owned shipping company, plans to buy enough tankers to carry half the nation's crude-oil production, Oil Minister Chakib Khelil said. Algeria, Africa's fourth-largest oil producer, owns one…

Another shipping line is looking at reducing sailing speeds as a way of cutting bunker consumption. Koji Miyahara, President of the Japanese NYK Group, has called for a ?rationalization? of Group policy.…

Hyundai Mipo Dockyard has received an order valued at 433 billion won ($464 million) from an Asian shipping company to build 10 chemical product tankers. The vessels will be delivered by April…

Italy's deputy transport minister Cesare De Piccoli said the idea of a merger of Aker Yards ASA with Italy's state-owned shipbuilder Fincantieri SpA is gaining industry and political support. Aker Yards management…