News

The German government will bring forward investments in ships to help its troubled shipyards to survive the current downturn. According to Minister of Transport Wolfgang Tiefensee, old state-owned vessels should be scrapped…

The first South Korea-built nuclear waste container carrier has been completed. Dae Sun Shipbuilding & Engineering in South Korea has delivered the country's first pure nuclear waste container carrier to Korea Radioactive…

A plunge in supertanker rates to their lowest in at least 11 years will likely spur owners to scrap ships and cancel orders for new ones, according to Bermuda-based tanker operator Frontline…

Sembcorp Marine announced that an important client to its wholly-owned subsidiary Jurong Shipyard has gone bust. Singapore-based Petroprod, a member of Norway's Larsen group which specialises in mobile production and field development…

Nippon Yusen K.K. (NYK), Japan?s largest shipping line, will slash fleet expansion plans by 10% as it scraps some ships and returns others to owners amid slumping demand for transporting cars and…

Abu Dhabi-based National Petroleum Construction Company (NPCC) has awarded Dutch design office Ulstein Sea of Solutions the basic design contract for their new large derrick pipelay vessel ?DLS-4200?. The new vessel will…

A new Chinese shipyard is attempting to win newbuilding contracts by selling ships at heavily discounted prices. Jiangsu-based People Heavy Industry (PHI) is ready to start ship construction in the summer at…

Industry sources say that yards in Japan, South Korea and China have been sounded out to design a new 250,000 DWT bulker specifically for the coal trades. One industry expert says the…

Construction on the $250 million Nosco-Vinalines ship repair plant kicked off in Yen Hung District, northern Quang Ninh Province. The new ship repair yard will cover a total land area of 100ha…

A key sector driving economic growth in South Australia is entering the stage where preparation transforms into visible action. The Techport Australia shipbuilding complex at Osborne on the Port River is ready…

Thousands of Polish shipyard workers will lose their jobs when the country?s state-owned yards are sold off. Under the government scheme, workers will be offered between $6,000 and $18,000, depending of the…

China's fledgling shipbuilding industry is set for more hard times as industry insiders have indicated that the global shipbuilding industry is unlikely to recover in the near future. New shipbuilding orders received…

The Chinese government may force state-owned shipping groups to buy more vessels as foreign carriers scrap orders, according to Steve Man, an HSBC Holdings Plc analyst in Hong Kong. That risks increasing…

Admiralty Shipyards OJSC, in St. Petersburg, and Sovcomflot OJSC plan to sign a contract for construction of a gas carrier with a capacity of 80,000 m3, according to Vladimir Aleksandrov, Director General…

Japanese shipbuilder Kanasashi Heavy Industries has ceased operation as it does not have the funds to procure ship parts and equipment for newbuildings. The medium-sized shipbuilder has so far been unable to…

Oslo-based Camillo Eitzen & CO ASA has reached an agreement with a Japanese shipyard for the cancellation of the six 2,500m3 gas carriers against a final and total settlement of $2.5 million.…

The Brazilian oil company Petrobras is scheduled to receive proposals next week for eight FPSO hulls, but Brazilian media report that just four of the 13 companies invited to vie for the…

The big three shipbuilders in South Korea are fiercely competing to win a massive LNG-FPSO order to be placed by Royal Dutch Shell. This mega project, said to cost some $4bn-plus, calls…

MacGREGOR, part of Cargotec Corp., has received an order for 28 hose handling and provision cranes from Korean shipyard Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME). "For many years now MacGREGOR…