News

The total capacity of containerships on order worldwide has declined to 6.1 million TEU, comprising 1,147 vessels, as of 1 February, 2009, according to figures compiled by AXS-Alphaliner News. Claimed as being…

Daewoo Shipbuilding & Marine Engineering (DSME) has plans to cut costs by 624.5 billion won this year to prepare against the global economic crisis and the slump in the overall shipbuilding industry.…

The DNV guidelines on lay-up of ships are now ready and available on the DNV website. The guidelines contain both requirements and recommendations for shipowners that are preparing for short or long…

According to the German Shipbuilders' Association (Verband für Schiffbau und Meerestechnik e.V.) the domestic shipbuilding industry signed newbuilding contracts for 46 vessels in 2008, it?s the lowest order intake since 2001, Lloyd?s…

The Panama Canal Authority has issued precise details on dimensions for the next era of Panamax ships. Proposals for the new locks will be received by 3 March and the canal authority…

The new Hyundai Heavy Industries? shipyard in Gunsan is starting operations this month. Located in the Jeolla Province in South Korea, the Gunsan shipyard recently held a keel laying ceremony for its…

Daewoo Shipbuilding & Marine Engineering Co said its fourth-quarter earnings increased more than five-fold due to construction of more expensive vessels. Net profit reached 293 billion won ($210 million) in the October-December…

South Korea retained its No.1 ranking in the global shipbuilding industry in terms of new orders, order backlogs and volume of vessels built in 2008. The nation's shipbuilders won a combined 17.5…

Swiss power and automation technology group ABB is opening an engineering center in Singapore to carry out engineering of FPSO and FSO projects for the offshore oil and gas industry.ABB's capabilities for…

Jinan Steel Group in China has recently signed strategic cooperation agreements with seven key shipbuilders in Shandong, to consolidate their production-demand chain of shipbuilding steel plates to the mutual benefit of all…

Indications that things weren't quite shipshape at bulk commodity carrier Dryships surfaced last week when the company stunned the market with news that it was suspending its dividend and cancelling several new…

Wartsila is reportedly facing losing up to ?800m of its existing orderbook due to potential cancellations. With a current ship power orderbook of ?4.5bn ($5.8bn), this represents almost 18% of its engine…

It is reported that China's shipbuilding industry's revitalization plan has been drafted following the release of support plan for auto industry and is to submit to the State Council for approval. One…

Germanischer Lloyd's (GL) Maritime and Corporate Services received the ISO 9001:2008 certification. It was awarded by the German certification body DQS (registrar in independent third party management system certification) after a thorough…

According to a recent poll of Lloyd?s List readers, some 70% of those polled have serious concerns that shipping industry safety standards will be hit by the global economic crisis. "Marine insurers…

A weaker global demand for energy has forced cancellations that are hitting the world?s profitable oil rig industry. Production is now slowing and exploration budgets have been cut back in recent weeks…

In South Korea, the scale of restructuring is evident, though analysts say that the 'first round' of restructuring had not been dramatic. They say that a large scale second phase would begin…

STX Europe?s Turku Shipyard in Finland will lay off 1,060 workers due to its meagre order books. STX Europe has commenced talks with unions regarding redundancies which will affect workers in the…

Davie Yards? most significant client, Cecon, has informed the Canadian shipbuilder that it has received a notice of cancellation of its $200 million credit facility from DNB NOR Bank. Cecon has told…

A recent study highlights problems linked to converting crops into biofuels. Taking up valuable land and growing edible crops for biofuels poses a dilemma as to whether it is ethical to produce…