News

International shipbroker and consultant Galbraith's Ltd says that demand for Suezmax tankers is expected to grow strongly in the next five years in line with large-scale expansion of crude oil exports in…

Plans for two Clyde-built Type 45 destroyers could be scrapped by the UK?s Ministry of Defence as part of a long-term £12bn budget cut demanded by the Treasury ahead of next year's…

The Davie Industries shipyard in Lévis, Quebec in Canada, has avoided liquidation and finally found a buyer. Teco Management of Norway will invest $13 million to buy the facility, while the Quebec…

Wärtsilä has signed an agreement to acquire the entire business of the Swedish company Stockholms Fartygsreparationer AB. The agreement is worth 7.5 million Swedish krona (EUR 0.8 million). Stockholms Fartygsreparationer handles all…

BAE Systems and VT Group have resumed talks to combine their shipbuilding operations according to news paper reports. The assets that are expected to be merged include BAE's yards at Barrow-in-Furness, Scotstoun…

Western Australian shipbuilder Austal plans to increase significantly the capacity of its US manufacturing plant as the company ramps up its operation to meet forecast demand from the US defence sector. Austal…

The Polish classification society Polski Rejestr Statków (PRS) has been granted European Community limited recognition, following the publication of European Commission (EC) Decision 2006/660/EC on 29 September 2006. Limited recognition applies to…

Bohai Shipbuilding in China clinched order for four product carriers from Nanjing Oil Tankers. The order consists of two 46,000DWT and two 49,000DWT product carriers and deliveries are scheduled between from June…

The departmental council of Morbihan (Brittany, France) has confirmed the option to build a second Ropax vessel at Aker Yards, Lorient, a shipyard located in Lanester, Morbihan. It is a sister ship…

Keppel Offshore & Marine Limited (Keppel O&M) has secured contracts worth a total of $132 million to carry out the conversion of two floating production storage and offloading (FPSO) facilities and the…

Two shipyards of international standards are being planned in India and, when completed, they will have the capability to build vessels in excess of 300,000 dwt. At a cost of $656 million…

Daewoo Shipbuilding has announced its ?2011 Medium Term Strategy? which aims to earn $15.6 billion in turnover by 2011. To achieve the goal, DSME will build 75 commercial ships from shipyards in…

The Gdansk shipyard in Poland wants to acquire part of the assets of its former owner to compensate its debts. This, however, may deter potential investors for Stocznia Gdynia shipyard. The first…

With oil exploration and production on the increase, Indian shipbuilder ABG Shipyard is planning to foray into offshore jack-up rig manufacturing. The company is setting up a facility for the production of…

The state-owned Shipping Corporation of India (SCI) will seal a deal later this month to r acquire six ships at an estimated total cost of over $1 billion. Sources close to development…

China State Shipbuilding Corporation (CSSC) and the government of the Fengxian District of the Municipality of Shanghai have signed an outline agreement to establish the country?s largest yacht building facility, in the…

Japanese multimodal shipping company Mitsui O.S.K. Lines has planned major investment in Vietnam?s port and shipping industry with the focus on major services such as port logistics, shipping, marine human resource training…

Intertanko, the association of independent tanker owners and operators ofoil and chemical tankers, is planning to propose that the world's shippingindustry switch from residual fuel to distillate fuel to further reduceseaborne air…