News

According to market reports in the Italian financial press, Fincantieri has acquired the Grand Bahama Shipyard for about $100million. Finland?s Masa Yards was also in the running, but Fincantieri?s package was considered…

The South Korean steel manufacturer, Posco, will be increasing the price of its steel plates for shipbuilding by W 60,000 ($60) per ton. However, Posco explains that it will apply discount ratio…

Shipbuilders in South Korea are refraining from receiving new low-end orders as they have already secured a three-year backlog of orders. Industry sources claim Samsung did not bid for a recent order…

EXMAR, the Belgium shipping company, has signed a newbuilding contract for two very large LPG carriers at Daewoo Shipbuilding and Marine Engineering in South Korea. The newbuildings will have a capacity of…

Two major orders for a total of 12 engines have been placed with Chinese shipyards both calling for Mitsui-built K98-cm bore engines of MAN B&W Diesel design.The first project is at Hudong-Zhonghua…

The Saigon Shipbuilding and Maritime Industry Company (Saigon Shipmarin) is investing more than $17 million in their shipyard to enable the company to build ships of over 10,000 tonnes. Currently, the Ho…

BP Marine has opened its new, relocated bunkering operation in North Fremantle, following a multimillion dollar investment in its Western Australia facility.BP has decided to continue its 80-year marine bunkering history at…

South Korea claims that the World Trade Organization (WTO) decision calling on Seoul to end shipbuilding subsidies within three months represents a victory in its long-running shipbuilding dispute with the European Union.…

Daesun Shipbuilding in South Korea has won an order for two landing platform docks from Indonesian Navy. Total contract price is $58.7 million and both vessels will be delivered by August 2007.

Maple LNG Transport, a joint venture owned equally by MOL and Hiroshima Gas, has ordered a 19,100 cubic metre LNG carrier from Kawasaki Shipbuilding, and signed a 20 year charter contract with…

Aker Ostsee in Germany, a part of Aker Yards, has been awarded contracts to build two container vessels of the type Aker CS 2700 for Reederei F. Laeisz GmbH in Rostock (Germany).…

China Ocean Shipping (COSCO) and Anshan Iron and Steel Company (AISC) have become strategic partners to minimise the effects of iron ore price hikes. Under the joint venture agreement, COSCO will provide…

Korean shipbuilders will maintain their No. 1 position in the world until 2015 with a market share of over 40% in terms of completion volume, according to an announcement by Korea Shipbuilder?s…

Color Line AS and Aker Yards have signed a letter of intent (LOI) for the order of a second ship, a sister vessel to ?Color Fantasy?, the world's largest cruise ship with…

Lauritzen Kosan, the gas arm of Danish shipowner J. Lauritzen A/S, has signed a newbuilding contract for a series of four semi-pressurised gas carriers with ethylene capacity at INP Heavy Industries in…

Italian shipbuilder, Fincantieri, has delivered the 40,000 gt cruise ferry ?Sharden? to Tirrenia Navigazione. Built at Fincantieri?s shipyard in Castellammare di Stabia, this newbuilding completes the ferry company?s modernization programme. Measuring 214…

The decision on the winner of the Australian $6 billion contract for naval air warfare destroyers has been delayed by at least three weeks following demands made by the Defence Department for…

Hyundai Heavy Industries has won orders for container ships worth $1.1 billion from shipowners in Kuwait and Iran. United Arab Shipping Company in Kuwait ordered eight 6,800TEU vessels to be delivered by…

Navantia is the new name chosen for the former Spanish shipbuilder Izar and SEPI, the owners, will own the new company which will consist of the military naval yards of Cartegena, Fene,…

South Korea's three largest shipbuilders, Hyundai, Daewoo and Samsung, have clinched orders from a Qatari gas producer to build LNG carriers worth more than $10 billion. The three yards will be supplying…

Cido Shipping in Japan has ordered two more 2,824TEU container ships from Hyundai Mipo Dockyard at the total contract price of $102 million. Ship particulars are 222m length, 30m breadth and 16.8m…

Hanjin Heavy Industries aims to secure newbuilding contracts worth $2.7 billion and a turnover of $2.2 billion this year. The Busan-based shipbuilder targets operating profit of $70 million. The Korean shipbuilder said…

China National Offshore Oil Corporation (CNOOC) and ConocoPillips China signed a contract with Shanghai Waigaoqiao Shipbuilding for the construction of a 300,000DWT FPSO for service in China's Bohai Bay. Fu Chengyu, chairman…