News

Loss-making Croatian shipyard 3.Maj has signed a contract for two 51,800 dwt product tankers for $106 million. The state-owned builder will deliver the ships to owner Uljanik Plovidba, also of Croatia, in…

Croatia?s Atlantska Plovidba, the bulk and heavy lift shipping company, has altered several contracts to lower company expenditure during the economic downturn. The Zagreb-listed owner has cancelled two of four Panamax orders…

The Eletson Corporation enters a new market sector with the delivery of their first ever liquefied petroleum gas (LPG) carrier. Built at Hyundai Mipo Dockyards (HMD) in Korea, the ship marks a…

South Korean trading company Hyundai Corp. said its shipbuilding unit in China won a $120 million order to build 10 vessels for a Russian company. The dry cargo vessels, which will be…

Japanese shipbuilder Tsuneishi Heavy Industries (Cebu), Inc. will be spending P11 billion to expand its local facilities at its West Cebu Industrial Park in Balamban, Cebu. The expansion, which requires an additional…

The Maltese government's Privatisation Unit has received bids for all the 4 units of Malta Shipyards. The call for bids closed on Thursday and, in all, 23 companies had shown interest and…

China's State Council has approved a stimulus package for the country's shipbuilding industry in a bid to help the emerging sector weather the global economic downturn. The government will encourage financial institutions…

According to the BarentsObserver, the Russian government believes its powerful shipbuilding industry should concentrate on the construction of civil vessels and the establishment several new federal shipyards. Icebreakers and specialized vessels, offshore…

Mitsubishi Corp., Japan?s largest trading house, and Brazil?s state-controlled Petroleo Brasileiro SA will build a $830 million vessel to drill in deep seas for crude oil and natural gas. The vessel would…

The maritime research project on the significance of risk-based design and approval has been concluded after four years of intensive study. The multinational research project SAFEDOR (Design, Operation and Regulation for Safety)…

With new orders for China's shipbuilding industry estimated to be halved in 2009, experts are calling for the Chinese government to quickly pass the shipbuilding industry stimulus plan. China Association of National…

Specialist shipbuilding facilities in Europe are facing heightened risks as bigger players threaten to dominate and overwhelm them. Niche market shipyards that build offshore vessels and dredgers could face more competition as…

South Korea, the world?s top shipbuilding nation, must find measures to keep leading the global shipbuilding industry in the next decade, including developing high-value vessels, a domestic institute said. In a report…

A flurry of scrapping deals recently has seen a variety of tonnage heading to breakers in Bangladesh, India, Pakistan and China. Although scrap prices are dramatically lower than the peaks of 2008,…

The total capacity of containerships on order worldwide has declined to 6.1 million TEU, comprising 1,147 vessels, as of 1 February, 2009, according to figures compiled by AXS-Alphaliner News. Claimed as being…

Daewoo Shipbuilding & Marine Engineering (DSME) has plans to cut costs by 624.5 billion won this year to prepare against the global economic crisis and the slump in the overall shipbuilding industry.…

The DNV guidelines on lay-up of ships are now ready and available on the DNV website. The guidelines contain both requirements and recommendations for shipowners that are preparing for short or long…

According to the German Shipbuilders' Association (Verband für Schiffbau und Meerestechnik e.V.) the domestic shipbuilding industry signed newbuilding contracts for 46 vessels in 2008, it?s the lowest order intake since 2001, Lloyd?s…

The Panama Canal Authority has issued precise details on dimensions for the next era of Panamax ships. Proposals for the new locks will be received by 3 March and the canal authority…

The new Hyundai Heavy Industries? shipyard in Gunsan is starting operations this month. Located in the Jeolla Province in South Korea, the Gunsan shipyard recently held a keel laying ceremony for its…

Daewoo Shipbuilding & Marine Engineering Co said its fourth-quarter earnings increased more than five-fold due to construction of more expensive vessels. Net profit reached 293 billion won ($210 million) in the October-December…

South Korea retained its No.1 ranking in the global shipbuilding industry in terms of new orders, order backlogs and volume of vessels built in 2008. The nation's shipbuilders won a combined 17.5…