News

Nippon Yusen K.K., Japan?s largest shipping line by sales, cut its fleet expansion plan by up to 60 vessels as slowing economic growth curbs demand for transporting steelmaking commodities including coal and…

China Ocean Shipping Group (COSCO), China?s largest shipping company, cancelled plans to purchase some 120 vessels in 2009, a source from the company said. According to the original plan, three-quarters were dry…

Fuel testing agency Lintec Testing Services has warned that owners, operators and charterers should not be tempted as a result of financial pressures induced by the global credit crunch into using non-accredited…

Wärtsilä's long established presence in South Korea has been further strengthened with the inauguration of its new service centre and office in Eomgung, Busan. By opening these premises, Wärtsilä will be able…

Ricardo UK Ltd, a global technology and engineering consultancy, has been awarded a 26-month gas engine contract by the world's largest marine diesel engine builder, Hyundai Heavy Industries (HHI). Ricardo and the…

Up to 50 of 190 newbuilding orders at German shipyards may be cancelled due to the financial crisis, according to German media reports. The German shipyard association VSM claims that 25 orders…

Japan?s Mitsubishi Heavy Industries has postponed plans to return to cruise ship building. The announcement came as a major cruise liner operator, reported to be Carnival Corp, delayed orders on two vessels.…

South Korea's Daewoo Engineering & Construction Co. said that it has finalized a $610 million deal to build a shipyard in north-eastern Qatar. Under the deal with state-run Qatar Petroleum Co., Daewoo…

Larsen and Toubro Ltd (L&T), India's largest private sector engineering and construction firm, has deferred its entry into the commercial shipbuilding business and has also decided to scale back its investment for…

Gulf Fleet Management has selected ABS Nautical Systems, LLC fleet management software as the foundation for its future operations. Opting for a near sweep of the Nautical Systems? NS 5 software suite,…

U.S. Congress is currently drafting the 2009 economic stimulus package, and 'The Green Marine Highway Initiative' is in contention for inclusion, as it will create over 20,000 new jobs in shipbuilding, steel…

STX Europe has signed contracts for delivery of design and ship equipment for four platform supply vessels of STX Europe's own design PSV 09 CD. The total value of the contracts amounts…

In an unusual move IMO's maritime safety committee has instructed the UN agency's secretary-general, Efthimios Mitropoulos, to voice IMO?s concerns over EU plans to force class societies to recognise each other's certificates.…

Singapore-listed Cosco Corp said that a customer has scrapped orders for two of five bulk carriers because of unfavourable market conditions. The Chinese ship building and repair firm will also postpone delivery…

Maersk Line is to lay up eight 6,500 TEU vessels following the recently announced changes in its Asia - Europe, Asia - Central America, and Transpacific service networks. This resulted in surplus…

Carnival Corp. has sued Rolls-Royce for more than $100 million over allegations that Rolls-Royce marketed and sold defective propulsion systems for the Queen Mary 2.The system, known as the Mermaid pod propulsion…

Hanjin Heavy Industries is proceeding with its plan to build a $2 billion shipyard project in the southern Philippines, Trade Secretary Peter Favila said. "Company officials told me that they are proceeding…

The Norwegian shipping company Seatankers Management Co. Ltd (SMC), owned by shipping tycoon John Fredriksen, has cancelled an order for four chemical tankers placed with the Alcock Ashdown (Gujarat) Ltd, the shipbuilding…

Wärtsilä has introduced a new upgrade kit for slow steaming for RTA and RT-flex low-speed engines to enable shipowners and operators to make major savings in fuel costs while slow steaming their…

Aegean Marine Petroleum Network Inc. has taken delivery of the 'Paros', a 4,645 dwt double-hull bunkering tanker newbuild from Fujian Southeast Shipyard in China. The Paros will be deployed to the company's…