News

CMA CGM may soon need to pay a heavy price for the aggressive expansion program it has undertaken as it seeks to reduce its estimated $5.6Bn debt burden. The French company announced…

Japan's Namura Shipbuilding has completed its first VLCC, the 'Atlantic Pioneer', and delivered it to Mitsui OSK Lines (MOL). With this delivery, Namura has achieved its long-cherished ambition to enter the VLCC…

Hyundai Mipo Dockyard is said to have received an order for the construction of two 1,000-teu containerships from a Greek shipowner. No price or delivery dates have been announced. The South Korean…

Bulgarian owner Navibulgar has cancelled a contract for a handysize bulker at the domestic Varna shipyard. Industrial Holding Bulgaria (IHB), which controls Varna through its Bulyard subsidiary, said the deal for hull…

Italian state-owned shipbuilder Fincantieri, which is already struggling with declining workloads, faces another setback with industry sources suggesting Oceania will not exercise an option for a third cruiseship. Two years ago, Oceania…

Industry sources claim that South Korean top shipbuilders have not given the Israeli shipping company Zim approval to delay boxship deliveries by two to five years.They say both Hyundai Heavy Industries and…

Tanker market is expected to see further oversupply of Suezmaxes in the years ahead according to a report from Frankfurt-based DVB banking group.The surplus of Suezmaxes is reportedly projected to exceed 100…

Sembcorp Marine's subsidiary Jurong Shipyard has delivered a second ultra-deepwater semi-submersible rig, the Ocean Valor (previously PetroRig II), on schedule to Diamond Offshore Drilling Limited. Diamond Offshore Drilling Limited acquired from PetroRig…

COSCO International Ship Trading Co., Ltd. has agreed with COSCO (Zhoushan) Shipyard on the cancellation of their contracts for two 5,000-unit pure car and truck carriers (PCTCs).The PCTCs are the third and…

The International Chamber of Shipping (ICS), based in London, has reaffirmed its commitment to developing a consensus among shipowner organisations over emissions reduction schemes, despite growing criticism. In a recent press release,…

The 2nd German Society for Maritime Technology (STG) International Conference on "Ship Efficiency" in Hamburg left more than 200 participants wondering whether the current proposal to implement an Energy Efficiency Design Index…

Operators of offshore support vessels are facing another difficult year in 2010, although there should be some recovery over this year's market. This claim was made by Christian Loken, senior vice-president of…

The Swiss naval architect firm of Fintry Marine Design has placed its first order for a CarboCAT MPV23, an offshore wind farm service catamaran, with Kockums? Karlskrona Yard in Sweden. The Fintry…

An Automated Voyage Risk Assessment tool (AVRA), which provides users with a ship and voyage specific preview of security threats that may be encountered throughout a proposed voyage has been made available…

ABS and Lloyd?s Register have agreed to use common software for the assessment of scantlings of bulk carriers and oil tankers designed to comply with the new IACS Common Structural Rules (CSR).…

Parlevliet & Van der Plas B.V., one of the largest European fishing companies, is taking a pioneering step with the purchase of the first ever towing kite wind propulsion system for operation…

There were only three bids at the international tender for the six state-owned shipyards that closed on Wednesday at the Croatian Privatization Fund (HFP).The government is selling two of the shipyards at…

The Chief Deputy of the Shipbuilding and Repair Yard of Rosmorport, Vladimir Shtrambrant, has said that the Russian Government plans to open a tender to build a series of 25MW icebreaker which…

ThyssenKrupp Marine Systems recently gave the go-ahead for the partial sale of the civil shipbuilding operations of Nordseewerke to steel construction company SIAG Schaaf Industrie AG. The deal foresees the creation of…

The IACS Unified Regulation L5 (IACS UR L5) clearly stipulates that stability software installed onboard shall cover all stability requirements applicable to the ship, thus including also damage stability. The requirements of…