News

The Korean shipbuilders Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries (SHI) have received order to build a total of nine LNG carriers. DSME will build five of the gas…

Hyundai Heavy Industries (HHI) benefited from the global boom in shipbuilding by managing almost to quadruple its profits in 2006. Profits reached a record 712.8 billion won ($761 million) in 2006, up…

The 50,800 DWT container vessels ?Bahia? and ?Bahia Blanca? built for Hamburg Sud have been christened at the yard of Daewoo Shipbuilding & Marine Engineering (DSME) in Okpo, Korea. The two new…

Awilco Offshore (AWO) has, through its fully owned subsidiary OffRig Drilling, exercised an option with Yantai Raffles Shipyard in China to build the company?s third semi submersible drilling rig, to be named…

Wärtsilä has signed an agreement to acquire the Swedish company Senitec AB in Varberg. The company is privately-owned and specializes in environmental technology products for separating waste such as oily water and…

Bharati Shipyard in Mumbai, India, has signed a $130.5 million contract with Clipper Group (Management) Ltd. of the Bahamas to build six 20,000 dwt geared bulk carriers. These newbuildings will be of…

Aqua-Terra, one of the three Singapore-listed oil services firms headed by Indonesian tycoon Kris Wiluan, said it would supply equipment and manage projects worth over $44 million for the Chinese oil major's…

Deltamarin, the Finnish naval architecture and marine engineering group, and V.Ships Leisure, the provider of third party ship management and related services to the passenger shipping industry, have formed a joint venture…

Following considerable demand from shipyards across Asia, classification society DNV is preparing a sample Coating Technical File (CTF) as a guideline for shipbuilders to follow in the wake of the IMO-stipulated New…

Cosco Shipyard Group in China has signed an LOI with Marine Accurate Well ASA in Norway to build a GM4000 semi-submersible for well intervention services valued at $200 million. The contract signing…

Mitsubishi Heavy Industries in Japan (MHI) has agreed to form a business alliance in low-speed diesel engines for marine use with Diesel United (DU), a subsidiary of Ishikawajima-Harima Heavy Industries (IHI). In…

Transpetro, the transportation arm of Brazilian oil giant Petrobras, has signed an agreement with the Atl?ntico Sul consortium for building 10 new Suezmax oil tankers. This is the first order in the…

Tsuneishi Corporation in Japan has won a contract for four 82,100DWT bulk carriers from Andriaki costing $40 million each. They will be delivered during 2010. Shinwa Kaiun Kaisha in Japan ordered a…

Trinity Capital has bought a 10.43% stake in Pipavav Shipyard Ltd, promoted by Nikhil Gandhi-backed Sea King Infrastructure, for $23.5 million. Existing investors in Pipavav Shipyard include financial institutions such as IL&FS…

The US Navy has awarded Northrop Grumman Corporation a $268 million contract for continuation of detail design efforts on the Zumwalt-class destroyer, DDG 1000. "This award reinforces the Navy's confidence in our…

Maritime operations supporting the Arctic region?s oil, gas and mineral reserves are poised for vast growth but the potential for high returns is matched by a unique set of risks for a…

The salvage problems surrounding ultra-large vessels will provide the focus for the International Salvage Union?s (ISU) fourth Associate Members? Day meeting in London on 7 March. The meeting will be attended by…

The China State Shipbuilding Corporation (CSSC) became the world's third largest shipbuilding conglomerate last year, behind Korea's Hyundai Heavy Industries and Japan's Imabari Shipbuilding Company. CCSC, which ranked fifth in the world…

The first Anchor Handling Tug Supply (AHTS) vessel, Sea Cheetah, from Jaya Shipyard in Singapore is expected to be delivered on 8 February which was the original delivery date. Deep Sea Supply…

The amount of overseas investment by Korean businesses last year more than doubled over that of previous year but at the expense of domestic investment. To make the matter worse, foreign investment…

BAE Systems, the UK?s biggest defence contractor, is poised to win control of the Devonport dockyard, home to Britain's nuclear submarine fleet, after Babcock International appeared to draw back from making an…

Gardline Australia Pty Ltd, a subsidiary of Gardline Group in Great Yarmouth, UK, has signed a one-year contract for ?Triton? to augment the customs patrol boat fleet as the Australian Government strengthens…

Wärtsilä has won a contract from Vinashin Shipbuilding Industry Corporation in Vietnam to supply fixed pitch propellers (FPP) for a series of five bulk carriers under construction for UK-based shipowner Graig Group.…