General News

As part of its expansion programme, United Arab Shipping Co. (UASC) has signed a contract with Hyundai for eight 6,500TEU container ships in a deal worth about $840 million. The first newbuilding…

Danish owner Stevn, part of the Nordane Group, has ordered two Z-drive multifunction ice class tugs from Irving Shipbuilding's East Isle Shipyards, Prince Edward Island, Canada. The order is worth $15.7 million…

China Merchant Group (CMG) has started the construction of a huge repair facility at Mahoudao, Shenzhen. The 63 hectare repair facility will be completed by 2006 at a cost of $278 million…

Unconfirmed reports claim that Bollinger Shipyards has a letter of intent to build four 30,000 dwt products tankers for the Houston-based Seacor Marine. If the deal goes ahead, Bollinger would presumably build…

The European Commission (EC) has approved, under the EC Treaty?s rules on state aid, French and Spanish schemes to provide innovation aid to shipbuilding worth respectively ?25 million per annum for six…

Korean shipbuilders, including the world?s largest yard Hyundai Heavy Industries, may increase ship prices to an all-time high to compensate for rising steel costs. London-based shipbroker Simpson, Spence & Young said that…

State-owned China Shipping?s dedicated oil transport arm is close to announcing a $290 million deal for four Suezmax crude tankers from Bohai Shipbuilding Heavy Industry according to a source at shipbroker Simpson…

Seabulk International and SEACOR Holdings announced they have signed a definitive merger agreement. The Boards of Directors of both companies have unanimously approved the transaction. After giving effect to the transaction, the…

Hanjin Heavy Industries in South Korea has installed a 3,000 tonne lift gantry crane built by IHI in Japan. This new crane is needed to cope with newbuilding demand of 10,000TEU container…

Wärtsilä Corporation and the BLRT Grupp of Estonia have agreed to set up a joint venture to service ships in the Baltic area. The new company will be named Oü Ciserv BLRT…