News

Swiss power and automation technology group ABB is opening an engineering center in Singapore to carry out engineering of FPSO and FSO projects for the offshore oil and gas industry.ABB's capabilities for…

Jinan Steel Group in China has recently signed strategic cooperation agreements with seven key shipbuilders in Shandong, to consolidate their production-demand chain of shipbuilding steel plates to the mutual benefit of all…

Indications that things weren't quite shipshape at bulk commodity carrier Dryships surfaced last week when the company stunned the market with news that it was suspending its dividend and cancelling several new…

Wartsila is reportedly facing losing up to ?800m of its existing orderbook due to potential cancellations. With a current ship power orderbook of ?4.5bn ($5.8bn), this represents almost 18% of its engine…

It is reported that China's shipbuilding industry's revitalization plan has been drafted following the release of support plan for auto industry and is to submit to the State Council for approval. One…

Germanischer Lloyd's (GL) Maritime and Corporate Services received the ISO 9001:2008 certification. It was awarded by the German certification body DQS (registrar in independent third party management system certification) after a thorough…

According to a recent poll of Lloyd?s List readers, some 70% of those polled have serious concerns that shipping industry safety standards will be hit by the global economic crisis. "Marine insurers…

A weaker global demand for energy has forced cancellations that are hitting the world?s profitable oil rig industry. Production is now slowing and exploration budgets have been cut back in recent weeks…

In South Korea, the scale of restructuring is evident, though analysts say that the 'first round' of restructuring had not been dramatic. They say that a large scale second phase would begin…

STX Europe?s Turku Shipyard in Finland will lay off 1,060 workers due to its meagre order books. STX Europe has commenced talks with unions regarding redundancies which will affect workers in the…

Davie Yards? most significant client, Cecon, has informed the Canadian shipbuilder that it has received a notice of cancellation of its $200 million credit facility from DNB NOR Bank. Cecon has told…

A recent study highlights problems linked to converting crops into biofuels. Taking up valuable land and growing edible crops for biofuels poses a dilemma as to whether it is ethical to produce…

A new mega container ship from South Korea's Daewoo shipyard will soon be named the ?MSC Danit?. The new 14,000 TEU vessel will be delivered only weeks after the 14,000 TEU ?MSC…

Goldenport Holdings Inc., the Greek international shipping company that owns and operates a fleet of container and dry bulk vessels has reached an agreement with COSCO (Zhoushan) Shipyard in China to reschedule…

The American Bureau of Shipping (ABS) has adopted new structural requirements for the evaluation of FPSO units. The criteria are contained in a revised version of the ABS Guide for Building and…

The large Danish shipping companies will not consider abandoning their agreements to take delivery of newly built ships ordered when freight rates and ship prices where high. But both Norden and Torm…

Nordic Ferry Services will deploy one of the world?s largest high-speed ferry on its service between Ystad in Sweden and Ronne on the island of Bornholm when the new invitation to tender…

Zim Integrated Shipping Services is holding discussions with South Korean shipyards to delay the delivery of new containerships by a year. The Israeli company is scheduled to receive nine boxships this year.…

A recent analyst report from Drewry Shipping said orders for at least 30 new tankers have been cancelled since last August. However, shipping companies in the Middle East insist they will not…

Car-passenger ferry 'Armorique' has been delivered from STX Europe's Helsinki yard in Finland to the French operator Brittany Ferries. The vessel is worth approximately 110 million euro and has given some 700…

Clipper Panorama, the second of Seatruck Ferries? eight newbuildings, enters service on the Irish Sea service linking Warrenpoint with Heysham on Sunday, January 25.This new roro freight ferry will join sistership Clipper…

The number of containerships laid up is growing very fast according to French maritime consultant AXS-Alphaliner. It projects that the volume of containerships on standby will jump to the equivalent of 750,000…

Vale, the Brazilian mining giant, signed a contract with three national shipyards for the construction of 15 new tugs, 32 barges and two pushers. With the order, Vale will be investing $171.1…