News

Hyundai Mipo Dockyard has clinched orders worth 302.3 billion won ($291.6 million) to build seven bulk carriers for a Middle Eastern shipping company. Delivery of the vessels is scheduled by May 2012.

Sealion Shipping Ltd in the UK has, on behalf of Toisa Ltd, placed an order with the ABG Shipyard in India for the construction of three new, large multi-purpose offshore support vessels.…

Thousands of ships plying the world?s oceans are effectively without nationality, enabling their owners to easily evade international laws and regulations says a new report from WWF, the conservation organisation and the…

Aker Yards and the Russian company FLC expects to complete the transaction in which FLC buys 70 % ownership in three yards in Ukraine and Germany in July 2008. The agreement was…

In a major diversification drive, Jindal Saw (JSL), part of the $10-billion OP Jindal Group in India plans to set up the country?s first shipbuilding and repair hub in Gujarat with an…

Hyundai Heavy Industries and two other South Korean shipyards said that they have received orders valued at a combined 2.4 trillion won ($2.32 billion) to build 17 ships. Hyundai won an order…

Daewoo Shipbuilding and Marine Engineering (DSME) has unveiled an energy-saving device that it says will help lower vessels? operational costs with improved speed and reduced fuel consumption. The ?Pre-swirl Stator? was first…

As Saudi Arabia announced a 200,000 barrel increase in oil production and consumers grapple with record pump prices and fuel shortages, the shipping industry consumes daily 4.37 million barrels of oil unnecessarily,…

Daewoo Shipbuilding & Marine Engineering Co. (DSME) said it will invest 46 billion won ($44 million) in a South Korean shipping venture to buy more oil tankers. The stake in DK Maritime…

Lauritzen Kosan has ordered six 3,700m3 pressurized gas carriers at Yangzhou Kejin Shipyard Co. Ltd. in China for delivery December 2009 through to December 2010. "The newbuilding order is a result of…

A.P. Moller ? Maersk in Denmark has signed an agreement with Hyundai Heavy Industries for the delivery of 18 container vessels in 2011 and 2012. The vessels will each have a capacity…

Kawasaki Kisen Kaisha, Ltd. ("K" Line) will become a strategic investor in FLEX LNG Ltd. (FLEX LNG), having agreed to take a 15% stake in FLEX LNG through participation in the private…

The Sevmorput shipyard in Murmansk has signed a contract with the Vyborg Shipyard, one of Gazprom?s main contractors in the Shtokman project, to assemble the two platforms which will be used in…

Chinese shipbuilding group JES International Holdings Ltd. has won shipbuilding orders worth a total of $247.5 million. The company said it secured an order from Croatia's Atlantska Plovidba to build four 79,800…

The order book of a once defunct firm will soon exceed R1 billion, thereby creating hundreds of new jobs, largely thanks to a relatively small injection of loan funding by the KwaZulu-Natal…

Rolls-Royce has opened a new office in St. Petersburg to further support activity within the growing Russian marine market. St. Petersburg has become the Russian shipbuilding capital, with 60% of the country?s…

China Ocean Shipping (Group) Co (COSCO) is mulling over a plan to reduce the service speed of all of its ships by 10%, in order to lower fuel consumption and reduce emissions.…

Daewoo Shipbuilding & Marine Engineering has received a 532.8-billion-won ($519 million) order to build four vessels. The deal with a European shipping company calls on Daewoo to deliver two oil tankers and…

Daehan Shipbuilding recently celebrated the christening of its first 170,500dwt vessel, at its shipyard located in Haenam, Korea. The vessel has been christened ?MYSTIC?.With a length of 289 metres and a 45…