News

Poland's cabinet approved yesterday a rescue plan for its debt ridden shipyards but workers and opposition politicians said the proposal would trigger large job losses and harm support among Poles for the…

Southampton councillors have approved a plan to allow US yacht builder Palmer Johnson to begin manufacturing superyachts on the former VT shipyard in Woolston. Local officials say the Palmer Johnson facility would…

Wilson, Sons logistics company will invest $40 million in the expansion of its shipyard in Guaruj?, on the coast of S?o Paulo in Brazil. The initiative still depends on environmental authorizations. "The…

POSCO and three other South Korean companies submitted their formal bids yesterday for Daewoo Shipbuilding & Marine Engineering. Korea Development Bank (KDB) said it will pick a preferred bidder in October after…

Malaysian shipbuilder Coastal Contracts has secured an $86.5 million contract to supply six offshore support vessels (OSV). Coastal has won about 1.1 billion ringgit ($139 million) worth of vessel orders this year,…

South Korean yards won half of the world's shipbuilding orders in the first half of this year, strengthening the country's dominance in the industry the government said. The country's shipbuilding yards secured…

Maersk Tankers has signed an agreement with STX shipbuilding company in Korea for the delivery of four VLCCs in 2011-2012. "We are very pleased with this order. The vessels are an important…

Polish treasury minister Aleksander Grad announced last week that "To make the restructuring effective, it is necessary to provide additional public aid to the shipyards. Shipyards in Gdynia and Gdansk need z³.835…

Wärtsilä introduces two new low-speed marine diesel engines at the Wärtsilä Licensees Conference held this week in Lucerne, Switzerland. The engines are developed in co-operation with Mitsubishi Heavy Industries in Japan, taking…

BAE Systems India, subsidiary of the Britain-based global defence company BAE Systems, is planning a foray into shipbuilding besides expanding operations in India with more joint ventures and partnerships, a top company…

Shipbuilder and charterer, Sealink International Bhd in Malaysia has allocated RM50 million ($14.5 million) as capital expenditure to expand its shipyard at Kuala Baram in Miri. The company owns another shipyard located…

The Polish government on Thursday said investors interested in the privatisation of the country's ailing shipyards would present their plans in time for an EU deadline of 12 September.Following Polish promises to…

Industry has come out in support of emissions scrubbing technology in California, an industry poll has revealed. By a narrow margin, 55% of respondents to the poll on sustainableshipping.com said that "it…

Shipping analysts expect container lines to reduce vessels speeds still further as a way of cutting bunker consumption. "According to our analysis, a sailing speed of 21 knots is still far from…

Kongsberg Maritime in Norway has signed an agreement to acquire the UK-based sonar company GeoAcoustics Ltd for approximately NKr 42 million. The acquisition of the Great Yarmouth-based company will enhance Kongsberg Maritime's…

Hanjin Heavy Industries & Construction has won a $330 million order to build two oil tankers. The deal with Emarat Maritime LLC of the United Arab Emirates calls on the shipyard to…

The UK Defence-technology group QinetiQ has won a £150m contract from the Ministry of Defence (MoD) to provide testing and design services for ships, submarines, and other maritime equipment.The 15-year contract, called…

Vessels could be forced to reduce speeds to 10 knots if a new regulation by the National Oceanic and Atmospheric Administration (NOAA) in the USA gets given the go-ahead. The NOAA Fisheries…

Wärtsilä has acquired Navelec SAS, a French company specializing in marine navigation and communication systems, electrical marine services, and control and automation services. Navelec's main office is located in Le Havre, France,…