News

South Korea?s POSCO is considering a rise in steel prices, easing fears that rising raw material costs will hit its earnings, and lifting its shares to a four-week high. The company, the…

Hyundai Heavy Industries (HHI) has won a $300 million order from Korea Lines to build two VLCCs for delivery by the end of 2010. The South Korean shipbuilder is set to start…

FBMA Marine Inc. (FBMA), the Aboitiz-owned shipbuilder based in Cebu, Philippines has signed a new building contract with Wightlink, Portsmouth UK. The order is to design and build two new 41m medium…

Singapore-listed shipyard Cosco Corp has begun quoting new sales contracts in Chinese yuan to reduce the impact of any further decline in the U.S. dollar, the company's president said recently. "We have…

The European Commission (EC) has reiterated its support for shipping emissions to be addressed globally at the International Maritime Organization (IMO), as long as it meets agreed deadlines. The message was delivered…

The US Navy is moving forward with construction of a new type of smaller, speedy warship after upending the program by canceling contracts last year, officials said.The Navy's formal requests for proposals…

Finland could become a part owner in shipyards to ensure that shipbuilding remains in the country according to a recent statement form prime minister Matti Vanhanen. He said the country has a…

The Gdansk shipyard in Poland may avoid the requirement to pay back PLN 750m of public subsidy. ISD Polska, a subsidy of Ukrainian Donbas, and the owner of Stocznia Gdansk shipyard, is…

Daewoo Shipbuilding & Marine Engineering (DSME) may increase newbuilding prices this year to pass on higher steel-plate costs to customers. "The increase will be a small one," chief executive officer Nam Sang…

The Arab Ship Building and Repair Yard (ASRY) in Bahrain, has announced the formation of a new operating company to be called ASRY Offshore Services, (AOS). ASRY has, over recent years, seen…

Seadrill took delivery of the deep water drilling rigs ?West Phoenix? and ?West Sirius? from the Samsung Shipyard in South Korea and Jurong Shipyard in Singapore, respectively. ?West Sirius? was delivered within…

Kongsberg Maritime in Norway has acquired the Draper, Utah based technology enterprise Global Sim for approximately NOK 100 million. Global Sim delivers products and services in the field of crane simulation for…

Seatruck Ferries, part of the Danish Clipper Group, has received delivery of the first of four newbuildings ordered from the Spanish shipbuilder Astilleros de Huelva. Named Clipper Point, she will be followed…

Hyundai Heavy Industries has developed a new groundbreaking technology that makes it possible to launch a completed ship while continuing shipbuilding work at the same dock. With traditional methods, a vessel that…

Shipping should not be a ?scapegoat? for damage to the world environment, says the head of the IMO, Efthimios Mitropoulos. The IMO Secretary-General speaking in London at the opening of the IMO?s…

Mitsubishi Heavy Industries (MHI)of Japan is making an important investment in Southeast Asia. It will build a ship repair yard as a joint venture with Mitsui OSK Lines, Japanese trading company Marubeni…

Reinforcing India?s growing stature as a shipbuilding nation, the country?s biggest engineering firm Larsen and Toubro Ltd (L&T) has won a contract valued at about $240 million (Rs962.4 crore) to build four…

The French company Nexans, one of the leading players in the cable industry, has signed a three-year contract worth $13.4 million to supply 3,146 km of its special marine cables to be…