News

The German company Linde has formed a Global Alliance with Single Buoying Mooring Inc. (SBM) to develop and market FPSOs for the growing LNG industry, based on Linde's proprietary natural gas liquefaction…

Singapore- based Ezra Holdings Limited has awarded a contract worth approximately $108 million for the design and construction of a large 27,000bhp Multi-Functional Support Vessel (MFSV) to Karmsund Maritime Service AS in…

Indian shipbuilding companies APJ Bharti Shipyard and Essar have expressed interest in setting up two shipyards in West Bengal. Principal industry secretary Sabyasachi Sen told media that the representatives of the two…

Höegh LNG has entered into agreements with major contractors and formally started the engineering and design for its first LNG FPSO unit. "Our strategy is to develop Höegh LNG's business model from…

Samsung Heavy Industries has won a $1.2 billion contract to build two drillships for an unidentified company for delivery by March 2011.

The International Bunker Industry Association (IBIA) was told at its annual convention in Montreal that a new report estimates that it would cost $67billion over the next five years to implement a…

Plans by Korean shipbuilder STX to build its new shipyard in Dalian, northern China, is being challenged by the Chinese government's restraint on building large ships. STX began construction on the $1-billion…

The Greek shipping company Danaos has extended its shipbuilding contracts with China Shipbuilding Trading Company to include one more 8,530 TEU vessel, bringing the total number on order to five vessels. All…

Which rule affects my fleet? That is the central question for shipowners, managers and shipyards when it comes to international maritime regulations from IMO, ILO and IACS. The new "GL Rules Pilot"…

International classification society Bureau Veritas (BV) says that market demand will inevitably lead to the development of Compressed Natural Gas (CNG) carriers. Speaking at BV?s Gas Tanker Seminar, to be held in…

Daewoo Shipbuilding & Marine Engineering Co (DSME) received $740 million in orders to build a drill ship and an oil tanker. The vessels will be delivered by the end of 2010 to…

I.M. Skaugen ASA (IMSK) confirmed that a new 50/50 joint venture with GATX Corp. has been created. This new joint venture will assume the ownership of the first four 10,000 cbm sized…

Oil and gas drilling contractor GlobalSanteFe Corp. has ordered a new ultra-deepwater exploration and development drillship from Hyundai Heavy Industries. Shipyard costs for the drillship are expected to total about $740 million…

Oslo-based Awilco Offshore said it has received an option to build a fifth semi-submersible drilling rig at China's Yantai Raffles shipyard. "The option can be exercised until end December 2008, and would…

The Mukesh Ambani-owned Reliance Group in Mumbai, India, is set to make a splash in shipbuilding and dredging with two separate companies. Sources said the petroleum-to-retail giant is expected to invest around…

Mumbai-based Shipping Corp of India Ltd is in talks with foreign shipyards for a joint venture in India and plans to buy a stake in any of the two shipbuilding yards proposed…

Rickmers Maritime of Germany has signed an agreement to acquire another four 4,250 TEU container vessels. This is on top of its recently-announced acquisition of four 13,100 TEU vessels. Together, the new…

The Canadian shipping company Algoma Central Corp., which operates on the Great Lakes, says it has struck an agreement with the Jiangxi Jiangzhou Union Shipbuilding Co. Ltd. in Jiangxi, China, to build…

ABG Shipyard is likely to pick up a 40% stake in Western India Shipyard for $56 million. ABG bought the shares held by institutional investors ICICI, IDBI, Bank of India, State Bank…

The Pakistan government has said it is committed to making Pakistan a leading shipbuilding country of the region to take advantage of country?s ideal location and realising its true potential in this…

Hyundai Heavy Industries plans to spend 134.1 billion won ($143 million) on building another dry dock because of growing orders for container ships and other vessels.This will by Hyundai?s 10th dock, and…