News

Daewoo Shipbuilding & Marine Engineering Co (DSME) received $740 million in orders to build a drill ship and an oil tanker. The vessels will be delivered by the end of 2010 to…

I.M. Skaugen ASA (IMSK) confirmed that a new 50/50 joint venture with GATX Corp. has been created. This new joint venture will assume the ownership of the first four 10,000 cbm sized…

Oil and gas drilling contractor GlobalSanteFe Corp. has ordered a new ultra-deepwater exploration and development drillship from Hyundai Heavy Industries. Shipyard costs for the drillship are expected to total about $740 million…

Oslo-based Awilco Offshore said it has received an option to build a fifth semi-submersible drilling rig at China's Yantai Raffles shipyard. "The option can be exercised until end December 2008, and would…

The Mukesh Ambani-owned Reliance Group in Mumbai, India, is set to make a splash in shipbuilding and dredging with two separate companies. Sources said the petroleum-to-retail giant is expected to invest around…

Mumbai-based Shipping Corp of India Ltd is in talks with foreign shipyards for a joint venture in India and plans to buy a stake in any of the two shipbuilding yards proposed…

Rickmers Maritime of Germany has signed an agreement to acquire another four 4,250 TEU container vessels. This is on top of its recently-announced acquisition of four 13,100 TEU vessels. Together, the new…

The Canadian shipping company Algoma Central Corp., which operates on the Great Lakes, says it has struck an agreement with the Jiangxi Jiangzhou Union Shipbuilding Co. Ltd. in Jiangxi, China, to build…

ABG Shipyard is likely to pick up a 40% stake in Western India Shipyard for $56 million. ABG bought the shares held by institutional investors ICICI, IDBI, Bank of India, State Bank…

The Pakistan government has said it is committed to making Pakistan a leading shipbuilding country of the region to take advantage of country?s ideal location and realising its true potential in this…

Hyundai Heavy Industries plans to spend 134.1 billion won ($143 million) on building another dry dock because of growing orders for container ships and other vessels.This will by Hyundai?s 10th dock, and…

Wärtsilä Corporation has decided to manufacture controllable pitch propellers (CPP) in India to create an important and sizeable production capacity increase for the CPP business. The new activity will incur an investment…

Evergreen Group, parent of Taiwan's biggest shipping line, may invest in a Chinese shipbuilder to accelerate delivery of new vessels. The company "is looking for opportunities overseas" and "China is one of…

Samsung Heavy Industries has won a $1.3 billion order to build five container ships and one offshore oil-processing vessel for a European client. The latest deal brings its total orders this year…

ISD seeks ownership of Polish shipyardISD Polska, whose majority owner is the Ukrainian Donbas, has placed a binding offer to purchase newly offered shares of the Gdansk Shipyard (SG) for 400 million…

Last year, the State Council of the People's Republic of China set specific targets that would see the shipbuilding industry reach an output of 17 million dwt and a capacity of 23…

The European Commission believes Poland's Gdansk shipyard merits a 'sustainable and viable future', spokesman Jonathan Todd said as competition commissioner Neelie Kroes met with worker representatives from the site. The commission has…

Integrated oil logistics provider Titan Petrochemicals Group Limited (Titan) has reached a definitive agreement to acquire a 100% interest in Titan Quanzhou Shipyard from its majority shareholder for a total consideration of…