Latest News – Page 796
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SCI to place orders for ten ships
Shipping Corporation of India (SCI) said it will place orders for 10 ships in this financial year. Last year, the company had postponed the purchase of eight new vessels owing to global economic slowdown.SCI had laid out a capital expenditure plan of $4 billion to purchase 79 vessels in the ...
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CSBC to sue Zim
Officials of Taiwan's leading shipbuilder, the state-run CSBC Corp., said recently that, despite a last-minute decision by the Israeli shipping company ZIM to cancel an order for six container ships worth $220.4 million, CSBC's order books are full until 2012.CSBC said that the preliminary income losses from the cancelled order ...
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Order for largest ever Austal cat
Austal will build its largest catamaran to date following an order from Denmark?s Nordic Ferry Services for the design and construction of a 113m high speed vehicle-passenger ferry. This order, which was reported by the Motor Ship on 11 March, is for a high-speed ropax ferry designed to carry 1,400 ...
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Shipbuilders restructuring unavoidable
Shipbuilding slump such as new order drought and existing order cancellations could last as much as 10 years, according to a South Korean analyst. Especially, small and midsize shipbuilders could face closure and urgently need restructuring such as selling facilities or changing business.Yang Jong-seo, a senior analyst at a foreign ...
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Shipbuilder eyeing icebreaker contract
Fincantieri Marine Group, which operates Marinette Marine Corp. and Bay Shipbuilding Co. in the USA, is closely watching federal legislation introduced last week seeking construction of a new Great Lakes icebreaker. "We were absolutely thrilled to see the legislation come in, and we're following it with great interest," said Bob ...
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Chittagong discouraging shipbuilding
Chittagong Port Authority (CPA) has said it would allow shipbuilding yards in the upstream of the Karnaphuli river. But shipbuilders say CPA's policy would 'stunt' the growth of the emerging industry. CPA chairman RU Ahmed said the Authority has drafted a policy to pave the way for establishing ship building ...
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Shipyards facing cash reserve problems
After almost six months during which almost no new building orders have been placed, shipyards around the world and especially in the two biggest shipbuilding nations of South Korea and China are facing acute problems. Besides their urgent need for cash, they are faced with the additional pressure by many ...
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Noble Denton joins GL Group
The merger of Noble Denton and Germanischer Lloyd forms a fully integrated technical assurance and consulting company to serve the worldwide energy industries. The new entity will provide assurance, inspection, and consulting as well as project management on a worldwide scale. It will focus its worldwide services along the entire ...
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Fincantieri battling to stay afloat
Fincantieri is holding last-ditch talks with Italy's three main metalworking unions in the hope of agreeing a deal on a new labour contract. Talks have been going on for months, with the company eager to tie improved rewards closely to improved productivity and the unions resisting to various degrees.Fincantieri executives ...
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Daewoo delivered 14,000TEU.
Daewoo Shipbuilding & Marine Engineering (DSME) of South Korea recently held a naming ceremony for the world's largest 14,000 TEU containership. The ship, named ?MSC DANIT', has a length of 365.5m, width of 51.2m and depth of 29.9m with a service speed of 25 knots.Unlike existing boxships, the newbuilding has ...
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RD Group to expand shipyard
A Philippine ship builder is investing P250 million for a new facility in Maasim to take advantage of growing transportation demand in the region. Gensan Shipyard and Marine Works, Inc., a subsidiary of the RD Group of Companies, is building twin slipways with a combined capacity of 10,000 gross tons, ...
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Clipper escapes large order program
The Danish shipping company Clipper Group, which had a construction program of 60 new ships, says it will not have to take a large proportion of the ships which would have been hard to make profitable with the current cargo rates. "We have probably only 13 to 15 new constructions ...
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Spanish yard disputes cancellation
Following the earlier announcements that Arrow Seismic Invest II Ltd, a subsidiary of Petroleum Geo-Services ASA (PGS), had terminated the shipbuilding contract with the Spanish shipbuilder Factorias Vulcano, the Norwegian offshore company has received a formal notice of "commencement of arbitration" from the yard which disputes PGS's right to terminate ...
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MOL halts iron-ore carrier orders
Mitsui O.S.K. Lines (MOL), the world's largest operator of iron-ore vessels, halted new orders for the ships as demand for steel drops. The company is scrapping up to seven iron-ore carriers and may not renew long-term charter contracts, Masafumi Yasuoka, a senior executive officer at the shipping line, said in ...
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Guangzhou Shipyard drops acquisition
China's Guangzhou Shipyard International Co said it will call off a proposed $445 million acquisition of a shipyard from its state-owned parent as its shares have slumped in the global financial crisis. The company's board also approved dropping a planned rights issue, it said in a statement. Guangzhou Shipyard, controlled ...
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GEM takes delivery of Panamax
Gulf Energy Maritime (GEM), the Middle East's largest independent commercial product tanker operator, has taken delivery of the first ever Panamax built by Korean shipbuilder Hyundai Mipo Dockyard (HMD. The 75,000 DWT product oil carrier, Gulf Castle, is also the first of four new Panamax vessels scheduled for delivery this ...
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Riga Shipyard launches fishing trawler
Riga Shipyard in Latvia has launched its third vessel this year. The fishing trawler "Helena Matte" was commissioned by a Danish company, which will fit out the vessel with electric, communications and control equipment, after it has been towed to its destination in Denmark. Project director at the Riga Shipyard ...
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Keppel awarded three projects
Keppel Offshore & Marine Ltd (Keppel O&M), through Keppel Shipyard Limited (Keppel Shipyard) and Keppel FELS Brasil SA (Keppel FELS Brasil), has secured three contracts worth a total of about S$300 million. The first two projects, secured by Keppel Shipyard from repeat customers, are for the construction of a derrick ...
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Nakilat Damen JV
Nakilat and Netherlands-based Damen Group have signed a memorandum of understanding for establishing a Qatari majority joint venture, which will build a shipyard for construction of luxury yachts and ships for commercial and military use up to 100m in length.The Ras Laffan shipyard is expected to begin operation in 2010 ...
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Korea resumes while Japan is quiet
South Korean builders have resumed their marketing activities for newbuildings, but Japanese yards are not dropping their wait-and-see stance. Shipyards in South Korea have been targeting order receipts in order to fill their empty slipways for ships deliverable in 2011 that were left empty after they accepted some requests to ...
