News

Daewoo Shipbuilding & Marine Engineering (DSME) plans to spend 163.2bn won ($164m) to expand its facility for the production of vessel parts. The investment will be made by March 2010 at its…

China State Shipbuilding Co. (CSSC) said its first-quarter profit more than doubled after rising demand led to higher prices for vessels. The Shanghai-based company said that net income climbed to 984 million…

Austal has successfully launched its landmark 127 metre Littoral Combat Ship ?Independence? (LCS 2) in what proved a momentous occasion for the company as it celebrates its 20th year.Since its keel laying…

The international shipbuilding group Aker Yards ASA could help build a huge shipyard worth $1 billion in north-western Russia. A year ago, Moscow announced plans to build a large shipyard for manufacturing…

The first of two 47.5 metre passenger catamaran ferries for the Macau-based New World First Ferry (NWFF) has been launched at Austal Tasmania, marking a historic milestone for the growing shipyard.With new…

Frontline has entered into a contract with Zhoushan Jinhaiwan Shipyard in China for delivery of four 320,000 dwt VLCC newbuildings. The vessels will be delivered from June 2011 until December 2011. Frontline…

One or more of Croatia's five ailing shipyards might have to close as part of European Union membership preparations, Economy Minister Damir Polancec admitted for the first time. He said that one…

In a move that will add to its offshore vessel building expertise and give it an edge over competition, ABG Shipyard, India?s largest private sector shipyard, is looking at building sub-sea vessels,…

Greek dry-bulk carrier DryShips Inc has exercised its option to acquire two ultra deep water drill ships with expected delivered cost of about $800 million per unit. The drill ships are to…

Yantai Raffles Shipyard Limited (YRS) , the largest builder of semi-submersible drilling rigs in China, has reached a new milestone with the christening of the world?s first fixed dual-beam gantry crane with…

Shipbuilding industry in Bangladesh gets a huge boost as two of the country's biggest conglomerates announced their entry into the booming sector. Meghna Group, the commodity to power conglomerate, and Rangs, the…

Russia's Krasnoye Sormovo shipyard based in Nizhny Novgorod on the Volga River (MNP Group) has received an order for three 5,600 DWT tankers from the Panamanian shipping company Argo Shipping International. The…

Taiwan's Evergreen Marine chairman Arnold Wang has confirmed that his company has pulled out of a joint venture with the Chinese government to build a shipyard at Quanzhou in Fujian province. The…

The investigation into the loss of the 4,419 TEU container ship ?MSC Napoli?, which suffered a catastrophic fracture in her hull on 18 January 2007 and had to be beached in Branscombe…

Petroleos de Venezuela SA (PDVSA), the state energy company, took over the government-owned shipbuilder Diques y Astilleros Nacionales CA as part of a plan for Venezuela to build its own oil tankers…

Golden Ocean Group Limited (GOGL) has declared the options to purchase two Kamsarmax vessels at Zhoushan Jinhaiwan Shipyard (Jinhaiwan) in China. The 80,000 DWT vessels will be delivered during 2011 and are…

Aker Yards recently delivered a 34,000 gt fast passenger-car ferry named 'Viking XPRS' for Viking Line at a cost of EUR 130 million. The Turku yard built the steel sections which were…

The state-run Korea Development Bank (KDB) said that Goldman Sachs was chosen to manage the sale of Daewoo Shipbuilding & Marine Engineering, the world's third-largest shipbuilder. The KDB and state-run Korea Asset…

The keel of a big cruise ferry was laid in Aker Yards, Rauma on 22 April, 2008. The vessel, built under working name ?Cruise 5?will be delivered to Tallink in spring 2009.The…

Following the recent completion of Australia?s 14-vessel Armidale class patrol boat fleet, Austal has won a contract to build six 30 metre aluminium fast patrol craft for the Government of the Republic…

Executives from leading shipping companies, class societies and shipyards are alarmed by falling construction standards in the rush to meet a record demand for new ships. "We have to do something now…

Sea Trucks' new pipelay/hook-up vessel ?Jascon 25? is undergoing final construction at Kim Heng Marine's shipyard in Singapore. The yard is contracted to build the deck of the pipelayer, while the hull…

Singapore-based Ezra Holdings has taken delivery of an 18,000 bhp anchor handling tug supply (AHTS) vessel ?Lewek Trogon? from Drydocks World Singapore. The newbuild AHTS is equipped with Rolls Royce engines and…