General News

Hanjin Heavy Industries secured an order for four 3,100TEU container ships from a European ship owner. Total contract price is $248 million and will be delivered by May 2009.

Larsen & Toubro (L&T), India's largest construction and engineering firm, aims to invest more than $111 million to build a second shipyard and grab a share of the global demand for vessels,…

To meet the strong level of market demand and to support the company's growth target, Wärtsilä is investing in higher efficiency and capacity for engine assembly and testing. This means an aggregate…

The Qatar tanker company, Q Ship, took delivery of ?Mesaieed?, which is the fifth unit in a series of six 105,000 dwt Aframax tankers under construction at Hyundai Shipyard, Korea. This vessel…

Hyundai Heavy Industries delivered a 9,100TEU container ship to Peter Dole. Named as MSC Madeleine, she is 348.5m long, 42.8m wide and has a depth of 27.2m. The Hyundai built MAN B&W…

Greek shipping companies want to set up fast ferry services between Qatar and neighbouring countries including India, Pakistan and Iran, according to local reports. Ferries would carry trucks and cars as well…

Wärtsilä Automation Norway, a member of the Wärtsilä group and Emerson Process Management have decided to form a total electrical and instrumentation system alliance for FPSO vessels. This alliance will deliver high-performance…

In line with its Horizon 2010 strategic plan, the French towage and salvage company Les Abeilles, a Bourbon subsidiary, is expanding its harbour tug fleet by ordering 12 tugs consisting of a…

Larsen & Toubro Ltd (L&T), India's largest engineering and construction conglomerate with additional interests in electricals, has forayed into the shipbuilding business by securing a $98 million contract from the Netherlands-based Zadeko…

Korea Line in South Korea placed an order for two 49,900DWT product carriers with unknown shipbuilder for delivery during first half of 2008 at a cost of approximately $90 million.

The employees of Gdansk shipyard have submitted an offer to buy the company. The second potential buyer is the consortium of state-owned entities comprising of Energa power distributor and the Agency for…

The lead British agency investigating the March 2006 ?Star Princess? blaze has urged cruise lines to take "immediate action" to prevent catastrophic fires from starting on balconies of cruse ships. The Marine…

Eimskip, subsidiary of Avion Group, has entered into shipbuilding contracts for the construction of two highly sophisticated reefer vessels for a total purchase price of approximately NOK 260 million. The investment is…

BAE Systems in the UK is believed to be preparing to walk away from a £700m bid for engineering group Babcock. BAE's interest in the company was fading because of the soaring…

With the global shipbuilding sector experiencing an unprecedented boom, the Central government in India has decided to build two world-class shipbuilding yards, one on the west coast and the other on the…

Samsung Heavy Industries in South Korea has clinched an order from Ferncliff Drilling AS in Norway for the world?s largest drill ship costing $550 million. The 300,000DWT drill ship is 228m long…

Woodside Petroleum Ltd., Australia's second-largest oil and gas producer, plans to order as many as 18 LNG tankers to supply gas to markets including the USA. Woodside, 34% owned by Royal Dutch…

Aker Yards ASA reported an EBITDA of NOK 357 million for the first quarter of 2006, an increase of 125% compared with the first quarter of 2005. The order intake in the…

Donbas, a Ukrainian steel producer, is considering investing in the Polish shipyard of Stocznia Gdynia (SG). Their proposition is expected next week and SG needs $96 million in capital. Donbas has long…

One of the world?s largest and strongest classification and certification company, Bureau Veritas, grew strongly again during 2005. In its tenth consecutive year of growth, BV increased turnover to Euro 1,647m (US$…

Five major European naval shipbuilders have formed a club to promote synergies in materials procurement as part of broader efforts to reduce costs. The companies, BAE Systems, DCN, Fincantieri, Navantia and VT…

Shipbuilding contracts secured by Korean shipyards in the first quarter accounted for more than half of the entire orders received worldwide. According to London-based ship broker Clarkson, Korean shipbuilders won more than…