General News

The worldwide market of medium and high-speed four-stroke diesel engines is now as before distinguished by over-capacity and thus very competitive. Engine development is ? besides the typical requirements of higher power…

Daewoo Shipbuilding & Marine Engineering (DSME), the world's second-largest shipbuilder, said its profit fell 44% from a year earlier last month because of higher steel prices. Net income in July fell to…

Second-quarter profits at Aker Yards AS, Europe's biggest shipbuilder, plunged 78% as the company completed fewer cruise ships and vessels to serve the offshore oil and natural-gas industry. Net income fell to…

Russia's largest shipping company, state-owned Sovcomflot, wants the government to float 35 to 40% of its shares to raise up to $300 million. The company?s general director Dmitry Skarga said the company…

Austal Ships has teamed with Raytheon Australia to bid for the upcoming Australian Government tender to build two 25,000 tonne 200 metre long amphibious ships, which is due to be issued in…

A union representing Canadian shipyard workers claims BC Ferries has already decided to have new ships built by in Germany. The allegation was made by George MacPherson, president of the B.C. General…

Dutch offshore engineering and shipbuilding group IHC Caland has reported a half-year profit of $53.8m which is well ahead of the $34.2m made in 2003 that included losses at the van der…

Wärtsilä has sold the product rights of the high-speed Wärtsilä 200 and 220 product family to Dresser Inc. Waukesha business unit in the USA. Wärtsilä will continue to provide service for the…

Norwegian Maritime Equipment has for some time provided portable and fixed fire fighting units for external fire on vessels and offshore installations. Recently, however, it introduced its own brand, the Nor-FiFi. Visitors…

ThyssenKrupp AG said all shipyard sites would be kept as part of its merger with One Equity Partners (OEP) unit Howaldtswerke-Deutsche Werft AG (HDW), which is expected to be contractually sealed by…

Kawasaki Kisen Kaisha (K Line) has executed a shipbuilding contract with Kawasaki Shipbuilding Corporation for a 145,000m3 LNG carrier scheduled for delivery in 4th quarter of 2007. The company has also signed…

Posco in South Korea will be increasing production of thick steel plates from 3.3 million tonnes per year to 3.8 million tonnes by 2008 in order to provide sufficient steel supply to…

The shock announcement comes amid fears that BAE's yards at Scotstoun and Govan could be sold off as the result of a row with defence chiefs. The call was made as VIPs…

American Technology Corporation (ATC) has issued a report on recent developments regarding its growing LRAD business. LRAD is a breakthrough long-range hailing and warning, directed acoustic device designed to communicate with authority…

Indonesia's naval commander says piracy in the Malacca Straits has decreased as a result of three-nation patrols which began in the waterway last month. In his report, Vice Admiral Didik Herupurnomo said…

MMC Norilsk Nickel in Russia and Kvaerner Masa-Yards, part of Aker Yards, have signed a newbuilding contract for one 14.500DWT arctic container vessel for operation in the Northern sea route of Russia.…

Concordia Maritime signed an agreement to participate on a 50/50 basis in a consortium, which will own two Panamax product tankers built to Finnish/Swedish ice class 1A specifications and ordered by Concordia…

Lifeboat and davit specialist Schat-Harding has taken over the Chinese Beiyang Boatbuilding Company lifeboat manufacturing range and plant as part of a strategy to expand its market share in cargo ships built…

Aker Yards ASA reported an EBITA (Earnings Before Interest, Taxes and Depreciation) of NOK 148 million in the second quarter, which corresponds to an EBITA-margin of 4.5%. The margin so far this…

Hyundai Merchant Marine (HMM) has ordered three 4,700TEU container ships from Hyundai Heavy Industries at a total cost of $200million. Ship particulars are 294.1m long, 32.2m wide, a depth of 21.8m, speed…

MAN B&W Diesel has received an order to supply 4 x 20RK280 engines to Italian ship builder Fincantieri. The Italian company has secured a contract to build a 122 metre monohull fast…

A number of South Korean shipbuilders are currently holding discussions with ExxonMobil on a multi-billion dollar deal to build liquefied natural gas (LNG) carriers for the global energy giant. Exxon has been…