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…