News

Wärtsilä has signed a contract to design and supervise the construction of a modern oceanographic research vessel for the marine wing of the Geological Survey of India (GSI). The order was received…

According to Arlie G. Sterling, president of shipping consulting firm Marsoft, "South Korea and China will determine the destiny of global shipping industry. Newbuildings to be delivered from the two countries and…

Lloyd?s Register?s Hellenic Advisory Committee (HAC) met recently to support and further develop safety and sustainability in the shipping industry. Chairman, Capt. Panagiotis Tsakos summed up the proceedings: "This has been another…

COSCO Shipyard Group of China recently completed the 'Adam Asnyk', its first 30,000 DWT heavy lift vessel, at COSCO Shipyard Dalian.The newbuilding, ordered by Chipolbrok, was originally due for completion in March…

The Russian shipping group Sovcomflot OJSC plans to order two Suezmax-type tankers at United Shipbuilding Corporation OJSC for TNK-BP petroleum products shipping. It is planned to build marine and river vessels for…

Amid the severe ship ordering downturn state-run Bank of China has started to lend to foreign owners with orders in China for the first time. The bank has extended a $149m credit…

The optimum speed for container ships is much lower than the current 25 or 26 knots achieved by the big vessels according to Germanischer Lloyd's head Hermann Klein. Dr Klein suggests that,…

Samsung Heavy Industries' vice-president Park Jung-heum said at a recent strategy seminar, "We will secure a cruiseship newbuilding order within next three years and deliver it around 2015. We will make inroads…

The Industrial and Commercial Bank of China (ICBC), the world's biggest bank by market value and deposits, has taken delivery of the first two ships in a 14-ship order that are part…

Japanese export ship orders declined for the 13th consecutive month in October on a year-on-year basis, tumbling 37.3% to 358,300 gt, according to figures released by the Japan Ship Exporters' Association.But the…

Sembcorp Marine has awarded the turnkey construction contract for Phase I of the New Yard Development project to Zhen Hua (S) Engineering Pte Ltd for a total contract value of S$443.25 million.The…

Norwegian shipowner I.M. Skaugen Group (IMSK) named the first ship in its new series of Multigas carriers in a ceremony at the Skaugen joint venture company with Shenghui Gas & Chemical Systems'…

Offshore Patrol Vessels (OPVs) being built by the UK shipbuilder BAE Systems for the government of Trinidad and Tobago will this week take a step closer to completion. Employees at the Portsmouth…

Daewoo Shipbuilding & Marine Engineering in Korea said it has made a profit in the third quarter on increased sales of high-end products and a stable local currency. Net income reached 191.2…

As fuel oil prices continue to climb, carriers are increasingly applying extra slow steaming on their long haul services. With fuel prices at levels above $400/ton since October, extra slow steaming is…

STX Finland Oy and the South African Department of Environmental Affairs have signed a contract for the construction of a Polar supply and research vessel. The ship, valued at a cost of…

The first of class Astute nuclear powered attack submarine left BAE Systems? shipyard at Barrow-in-Furness for the first stage of sea trials designed to prove its capability as the most formidable vessel…

MAN Diesel recently celebrated the official opening of its newest service centre in Seattle, Washington, USA to further expand its PrimeServ network in North America. The newly renovated, 1,800 m2 workshop and…

The Italian classification society RINA has published new guidelines to help shipowners identify and secure safe and cost-effective locations to lay up their ships during the current economic downturn. The guidelines cover…

ABS was named Best Classification Society during the recent Lloyd?s List Middle East & Indian Subcontinent Awards held in Dubai. The award ceremony is one of six regional events hosted by the…

A major international tanker operator has given detailed information on the steps it is taking in response to the shipping industry?s quest to lower greenhouse gas emissions from vessels.Iran?s NITC currently has…