News

Chinese shipbuilder Cosco has recorded a 28% rise in full-year earnings to $133 million. The earnings were buoyed by strong contributions from its ship repair and marine engineering operations. Meanwhile, revenue jumped…

Total, the French oil giant, is to construct a large billion-dollar floating production, storage and off loading vessel for its Usan field in the deep offshore region off Nigeria. The Usan field…

The Hull Lifecycle Programme (HLP), a new software service tool designed to ensure long lives and technical safety for vessels, was introduced by Germanischer Lloyd (GL) at the GL Exchange Forum. The…

A £2.3 million International Marine Design Centre is expected to open in Newcastle, UK, next month after regional development agency One Northeast agreed to back a project. It is hoped the centre…

Garware Offshore Services in Mumbai, India, has signed a Memorandum of Understanding (MOU) with the Norwegian shipbuilder Havyard Leirvik AS for exclusive representation for the marketing and sale of ships built by…

Aker Philadelphia Shipyard has delivered the lead-ship in a16-ship series of product tankers. The 185 metre MT46 Veteran Class ?Overseas Houston? now becomes the first ship leased to subsidiaries of Overseas Shipholding…

BP PLC has reported more problems with its new fleet of 185,000 DWT oil tankers after a scramble to repair cracked rudders and faulty anchors. One of the bollards used to secure…

According to London-based Clarkson, shipowners ordered new vessels worth a record $105.5 billion in 2006. The trend has been spurred by tanker owners keen to upgrade their fleets ahead of IMO single-hull…

Copenhagen-based A.P. Moller-Maersk A/S has ordered four PCTCs (pure car and truck carriers) from China's Xiamen Shipbuilding Industry. The Danish shipowner has an option for delivery of another four ships of the…

Singapore-based Pan-United Marine has booked a record full-year profit of $36.7 million thanks to a healthy newbuilding order book and higher valued ship repair and conversion jobs. For the three months to…

Penglai in China clinched two 5,800 dwt chemical tankers from Wisby Tankers for delivery during 2008. Ship price per unit is $15 million. Tsuji Heavy Industries secured two 29,000 dwt bulk carriers…

The US-based Edison Chouest Offshore (ECO) plans to build several new anchor handling towing supply vessels (AHTS), as well as more than a dozen new generation 280-ft. platform supply vessels (PSV) in…

Aker American Shipping ASA and Overseas Shipholding Group, Inc. have signed an agreement in principle whereby Aker American Shipping subsidiary, Aker Philadelphia Shipyard, will construct up to six additional Veteran Class MT-46…

Recently, Fuel Cell Boat BV, a consortium of Dutch companies, came to an agreement to develop and build the world?s first commercially operated hydrogen powered boat. This vessel will be used in…

The Chinese-Polish Joint Stock Shipping Co, (Chipolbrok), has signed a contract to build six more crane-equipped vessels. The move comes as the company expands its fleet to capitalize on the rising demand…

The US Coast Guard (USCG) has authorized DNV to carry out plan reviews and inspections on its behalf of all types of offshore units which are operating on the Outer Continental Shelf…

CSSC-MES Diesel Co., Ltd., a joint venture company to manufacture marine diesel engines of CSSC in China and MES in Japan has won an order for three 8K98MC main diesel engines. These…

The joint venture agreement named "CCS & DNV Technology Institute" was signed this week by China Classification Society (CCS) and DNV. The institute which is to be established in Shanghai aims to…

Hanjin Shipping has put into service the 6,500 TEU ?Hanjin Tianjin? and ?Hanjin Xiamen?, its latest containership newbuildings, on its Asia-Europe trade. These 27 knot high-speed newbuildings are the fourth and fifth…

Residential Cruise Line (RCL) has signed a Memorandum of Understanding (M.O.U.) with Aker Yards to build the world's largest and most luxurious residential cruise ship, the ?Magellan?.Designed by the Norwegian firm of…

The newly formed company Marine Subsea Inc. has signed a contract with Ulstein Verft AS to build a well intervention ship of the type ULSTEIN SX121 from Ulstein Design AS. This is…

Taiwan took another step to distance itself from China by removing or toning down 'China' from the names of two state enterprises. The Economics Ministry ordered the Chinese Petroleum Corp (CPC) to…

Construction work on the $20 million Arab Shipbuilding and Repair Yard Co. (Asry) slipway project was recently started. The contract for the project, to be completed by February 2008, was awarded to…