Latest News – Page 829
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Shipping wasting million of barrels of oil every day
As Saudi Arabia announced a 200,000 barrel increase in oil production and consumers grapple with record pump prices and fuel shortages, the shipping industry consumes daily 4.37 million barrels of oil unnecessarily, new research has revealed. The figures, from leading maritime technology company DK Group and backed by United Nations-commissioned ...
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Daewoo to invest million in shipping venture
Daewoo Shipbuilding & Marine Engineering Co. (DSME) said it will invest 46 billion won ($44 million) in a South Korean shipping venture to buy more oil tankers. The stake in DK Maritime SA, the venture with Korea Line Corp., will remain at 50 %. Korea Line, South Korea's second-biggest operator ...
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Lauritzen Kosan signs contract for six newbuildings
Lauritzen Kosan has ordered six 3,700m3 pressurized gas carriers at Yangzhou Kejin Shipyard Co. Ltd. in China for delivery December 2009 through to December 2010. "The newbuilding order is a result of a very constructive cooperation between Lauritzen Kosan, Shanghai, and Changjiang Ship Design Institute, a Chinese engineering and design ...
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Maersk places bulk order for boxships
A.P. Moller ? Maersk in Denmark has signed an agreement with Hyundai Heavy Industries for the delivery of 18 container vessels in 2011 and 2012. The vessels will each have a capacity of 4,500 TEU and are designed to meet the highest demands for safe and economic transportation of goods ...
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?K? Line to become Strategic Investor in FLEX LNG
Kawasaki Kisen Kaisha, Ltd. ("K" Line) will become a strategic investor in FLEX LNG Ltd. (FLEX LNG), having agreed to take a 15% stake in FLEX LNG through participation in the private placement of ordinary shares. As part of the strategic investment the two companies have entered into a Memorandum ...
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STX cancels newbuilding order
STX Shipbuilding has cancelled a 220.7 billion won ($212 million) contract for two bulk carriers after the European customer failed to make the initial payment. The contract was signed in November last year for four 181,000 dwt bulk carriers due for delivery by June 2010. The shipyard is in talks ...
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Shtokman contract for Murmansk shipyard
The Sevmorput shipyard in Murmansk has signed a contract with the Vyborg Shipyard, one of Gazprom?s main contractors in the Shtokman project, to assemble the two platforms which will be used in the Shtokman projectThe shipyard will join together the semisubmersible platform hull currently under construction in Vyborg, Russia, with ...
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STX holds 40.4 % of Aker Yards
STX Norway AS, 66.7 % owned by STX Shipbuilding, increased its stake in Aker Yards ASA to 40.39 % and will make a mandatory bid for all the shares of the European shipyard, according to a statement filed to the Oslo stock exchange today.
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Vietnam launches its biggest FSO vessel
The hull of a 150,000 dwt FSO vessel, the FSO-5, was launched recently at the Nam Trieu Shipbuilding Industrial Corporation, NASICO, a member of Vinashin, in the northern port city of Haiphong. This is the biggest vessel of its kind ever built in Vietnam and was ordered by the PetroVietnam ...
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JES wins more orders
Chinese shipbuilding group JES International Holdings Ltd. has won shipbuilding orders worth a total of $247.5 million. The company said it secured an order from Croatia's Atlantska Plovidba to build four 79,800 dwt Panamax bulk carriers for $45 million each, and an order from Indonesia's PT Pertamina to build an ...
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SAS on course for recovery
The order book of a once defunct firm will soon exceed R1 billion, thereby creating hundreds of new jobs, largely thanks to a relatively small injection of loan funding by the KwaZulu-Natal Growth Fund. Since the R24 million loan was made two-and-a-half years ago, the once moribund Southern African Shipyards ...
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STX poised for Aker takeover
South Korea's STX Shipbuilding made a surprise $110 million bid to buy up to 7.92 % of the shares in Norwegian shipbuilder Aker Yards which would raise its stake to 47.15 % of the group. Already the biggest Aker Yards shareholder with a 39.23 % stake, STX offered to buy ...
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R-R opens St. Petersburg office
Rolls-Royce has opened a new office in St. Petersburg to further support activity within the growing Russian marine market. St. Petersburg has become the Russian shipbuilding capital, with 60% of the country?s shipyards and marine design, research & development and education facilities located there. Russia holds six per cent of ...
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Cosco to slow down
China Ocean Shipping (Group) Co (COSCO) is mulling over a plan to reduce the service speed of all of its ships by 10%, in order to lower fuel consumption and reduce emissions. At the start of the year, the state-owned company launched a pilot scheme cutting the speed of its ...
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Daewoo secures order for four newbuilds
Daewoo Shipbuilding & Marine Engineering has received a 532.8-billion-won ($519 million) order to build four vessels. The deal with a European shipping company calls on Daewoo to deliver two oil tankers and two bulk carriers by December 2011.
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Daehan Shipbuilding christens first newbuilding
Daehan Shipbuilding recently celebrated the christening of its first 170,500dwt vessel, at its shipyard located in Haenam, Korea. The vessel has been christened ?MYSTIC?.With a length of 289 metres and a 45 metre beam, she is the first in the series of eight Capesize bulk carrier ordered from the Norwegian ...
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Japan orders newbuilds from Bangladesh
Highspeed Shipbuilding & Engineering Co (HSEC), a Bangladesh shipbuilder, has won a $50 million order from Japan to build ten small ships. This is further evidence of the country's booming shipbuilding industry and is the first time the country has won a Japanese contract. The buyer is Japan based Tokyo ...
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IMO approves Krystallon technology
A newly-approved emissions control system, designed to fit onboard ocean-going ships, could prevent thousands of premature deaths by significantly reducing some of the most deadly pollutants affecting regions along North American coastlines. Approval of the system, known as seawater scrubbing, by the IMO has opened the way for the first ...
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Tuzla shipyard shut down for a month
The ?stanbul Directorate of the Labour and Social Security Ministry has ordered the temporary closure of one of the shipyards in the Tuzla area, where 98 workers have died in work-related incidents in the past seven years.Inspectors from the directorate yesterday announced that the Nur ?stanbul Shipyard in Tuzla would ...
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Malta to privatize shipyards
Malta is to start the process to privatize the island nation's shipyards, amid plans for a reduction in the workforce, Maltese Prime Minister Lawrence Gonzi announced yesterday. Several companies, especially from northern Europe, had expressed interest in buying into the state-controlled Malta Shipyards and the government will be issuing an ...
