General News

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…

The Pakistan government has decided to upgrade the basic infrastructure for construction of commercial cargo ships and warships, including F-22 P frigates, in Karachi. The government has allocated Rs 483.42 million for…

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…

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…

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.…

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,…