News

Martin Lorenz, tanker division chartering manager for Torm, said long range tankers had been slowed from 16.5 knots to 14.5 knots which has reduced fuel consumption from 55 tonnes to 40 tonnes…

Samsung has won a 1.58 trillion won ($1.5 billion) order from Kuwait's United Arab Shipping Co. (UASC) for nine large container vessels, the biggest order for both companies. The first of the…

Rickmers-Linie, the Hamburg-based specialist in the global transportation of breakbulk, heavylift and project cargo, has increased from ten to 14 the number of multi-purpose heavylift newbuildings for its expanding liner service network.…

Italy's minister for economic development Claudio Scajola aims to list state-owned shipyard Fincantieri SpA "if possible by the fall", according to a report in Sunday's La Stampa that quoted the minister. The…

The Polish government has met an EU deadline for plans on restructuring three shipyards, the treasury minister said on Friday. The shipyards at Gdansk, Gdynia and Szczecin received state subsidies after Poland…

Australian fast-vessel builder Austal Ships Pty Ltd. has prolonged its long-standing technical and commercial partnership with classification society Germanischer Lloyd (GL). Austal shipyard entrusts GL exclusively with the newbuilding classification of all…

A 50.4% stake in DSME is due to be put up for sale later this year and Doosan Group?s expected bid for a controlling stake in South Korea?s Daewoo Shipbuilding and Marine…

Japanese shipping company NYK Line has pledged to invest millions of dollars in cutting its overall emissions even as it plans a substantial fleet expansion. According to the company's corporate social responsibility…

The maritime industry needs to be proactive, not reactive, to issues facing it and shouldsee new challenges as opportunities and not as threats, according to Dimitrios Theologitis, head of unit, Maritime Transport…

Jurong Shipyard, a wholly-owned subsidiary of Sembcorp Marine, has secured a contract from the Norwegian drilling and production contractor Larsen Oil & Gas to build a deepwater semi-submersible drilling rig at a…

The European Commission has refused to extend the deadline for the privatisation and restructuring plan for three Polish shipyards. EC Spokesman Jonathan Todd confirmed that today marks the deadline for Poland to…

Enel SpA is in talks with Norway's Hoegh LNG to jointly develop a floating liquefied natural gas (LNG) ship, a Hoegh spokesman said. "I can confirm Enel is one of the parties…

Hyundai Mipo Dockyard has clinched orders worth 302.3 billion won ($291.6 million) to build seven bulk carriers for a Middle Eastern shipping company. Delivery of the vessels is scheduled by May 2012.

Sealion Shipping Ltd in the UK has, on behalf of Toisa Ltd, placed an order with the ABG Shipyard in India for the construction of three new, large multi-purpose offshore support vessels.…

Thousands of ships plying the world?s oceans are effectively without nationality, enabling their owners to easily evade international laws and regulations says a new report from WWF, the conservation organisation and the…

Aker Yards and the Russian company FLC expects to complete the transaction in which FLC buys 70 % ownership in three yards in Ukraine and Germany in July 2008. The agreement was…

In a major diversification drive, Jindal Saw (JSL), part of the $10-billion OP Jindal Group in India plans to set up the country?s first shipbuilding and repair hub in Gujarat with an…

Hyundai Heavy Industries and two other South Korean shipyards said that they have received orders valued at a combined 2.4 trillion won ($2.32 billion) to build 17 ships. Hyundai won an order…

Daewoo Shipbuilding and Marine Engineering (DSME) has unveiled an energy-saving device that it says will help lower vessels? operational costs with improved speed and reduced fuel consumption. The ?Pre-swirl Stator? was first…

As Saudi Arabia announced a 200,000 barrel increase in oil production and consumers grapple with record pump prices and fuel shortages, the shipping industry consumes daily 4.37 million barrels of oil unnecessarily,…

Daewoo Shipbuilding & Marine Engineering Co. (DSME) said it will invest 46 billion won ($44 million) in a South Korean shipping venture to buy more oil tankers. The stake in DK Maritime…

Lauritzen Kosan has ordered six 3,700m3 pressurized gas carriers at Yangzhou Kejin Shipyard Co. Ltd. in China for delivery December 2009 through to December 2010. "The newbuilding order is a result of…

A.P. Moller ? Maersk in Denmark has signed an agreement with Hyundai Heavy Industries for the delivery of 18 container vessels in 2011 and 2012. The vessels will each have a capacity…