Latest News – Page 840
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Cosco cancels rig order
Cosco Singapore shipyard has canceled a $202 million order to build a semi-submersible oil rig hull because Red Flag A.S. of Norway didn?t pay a deposit for the construction to proceed. This raised concern that more clients may be facing higher borrowing costs amid the U.S. subprime mortgage crisis. Cosco ...
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POSCO raises steel prices again
South Korea's steel manufacturer, Posco, will raise steel prices by up to 20.7% in a move widely expected in markets to help it pass on soaring prices of raw materials. The price rise, its second this year following a February increase, comes after Posco agreed to a 65% rise in ...
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Dolphin Offshore gets nod for shipyard project
India?s offshore service provider Dolphin Offshore Ltd moved a step closer towards the take off platform for its proposed Rs 400-crore greenfield shipyard project in Gujarat, with the company having received the Letter of Intent by the Gujarat Maritime Board for setting up the project at Jafrabad. The company has ...
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SECAs becoming ECAs
The revision of MARPOL Annex VI and the NOx Technical Code (Annex VI) means there is now a sell-by date on the term Sulphur Emission Control Area (SECA) at the IMO. In the revised Annex VI text approved by the IMO's Marine Environment Protection Committee (MEPC) last week, SECA has ...
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Chinese yards bag more orders
A good week so far for Chinese shipbuilders with brokers reporting several major contracts. Cosco?s shipyard in Nantong has received more orders for Suezmax tankers from European owners. Greece?s Thenamaris has reportedly ordered two option two 156,000 dwt tankers from the yard for delivery in 2009, while Turkish owner Geden ...
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Nobiskrug gets new owner
As part of its active portfolio management activities, ThyssenKrupp Technologies is selling the Rendsburg/ Germany-based shipyard Nobiskrug GmbH. Nobiskrug, a subsidiary of ThyssenKrupp Marine Systems, has 400 employees and generated sales of 81 million Euros in fiscal 2006/2007. The buyer, Guernsey based Eagle River Capital Ltd., is part of a ...
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STX Pan Ocean to order boxship
STX Pan Ocean Co., South Korea's top bulk carrier, has plans to spend 288 billion won ($295 million) to add two container ships to its fleet by 2012. Earlier this year, the shipping company said it plans to spend $810 million in 2008 on 13 new vessels in order to ...
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R-R designs polar research vessel
Rolls-Royce has been selected to design a research vessel to carry out significant environmental research at both the North and South Poles. The vessel will be outfitted to cover a wide range of marine research operations, such as monitoring fishing stocks, meteorological studies, sea floor sampling and mapping. The NVC ...
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China delivers first LNG carrier and largest container ship
Shanghai-based Hudong-Zhonghua Shipyard delivered the 147,000 m3 LNG carrier Dapeng Sun to China LNG Shipping (International) Ltd for service between Australia?s North West Shelf and China?s first LNG receiving terminal in Guangdong Province. It is the first of a five ship series that are being dual classed by ABS and ...
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BulYard gets order for two cargo vessels
BulYard Shipbuilding Industry will fulfill a 60 million euro order for two cargo vessels placed by its majority owner Industrial Holding Bulgaria (IHB). The financing will be provided by IHB subsidiary KLVK. The first of the two 56,000 DWT vessels is scheduled for delivery in May 2010 with the second ...
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JFE and IHI to form Japan's biggest shipbuilder
JFE Holdings Inc. and IHI Corp. will start talks to combine shipbuilding operations to create Japan's biggest shipyard, challenging South Korean and Chinese rivals. The Tokyo-based companies will discuss details including the merger ratio at a later date, according to a joint statement to the city's stock exchange today. IHI ...
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UK shipyards must diversify or sink
Vic Emery, managing director of BAE Surface Fleet Solutions, in his evidence to the Scottish affairs committee, expects that after contracts for the two promised aircraft carriers are completed, the Royal Navy order book will be equivalent to one 5,000-tonne vessel a year, and that the industry is set to ...
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Backing for Antarctic ship review
Recognising campaigners' fears that the Antarctic waters were at risk from the rising number of ships in the area, the IMO has invited member nations to submit proposals to limit shipping's impact on this unique environment. Environmentalists said the sinking of the cruise ship ?Explorer? in 2007 was a wake-up ...
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Daewoo workers vote to strike
Shipyard workers at Daewoo Shipbuilding & Marine Engineering have voted to strike against a planned stake sale this year. The union said that about 93% of the 6,503 workers voted in favor of a strike, adding that the timing and extent of the strike will depend on the progress of ...
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STX wins VLCC deal
South Korea's STX Shipbuilding has won an order for two VLCCs from STX Pan Ocean worth about $300 million. The order is part of the $810m fleet enlargement programme.
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Strategic Marine bags first tug order
Australian shipbuilder Strategic Marine (SM) has broken new ground by winning a contract to build a 23.9 metre new generation compact tug, the first tugboat signing in the company?s history.The vessel, which has a 60 tonne bollard pull, has been ordered by the Port of Napier, another breakthrough since this ...
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STX?s China shipyard starts operations
South Korea's STX Group said a $1 billion shipbuilding complex in China has started operating and will deliver its first complete vessel by the end of this year. The Dalian shipbuilding facility will carry out the whole shipbuilding process from steel cutting and engine assembling to block manufacturing.The group has ...
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Incat delivers second Japanese cat
The Tasmanian shipbuilder Incat has delivered the second high speed Wave Piercing Catamaran to Japanese owner Higashi Nihon Ferry. The Natchan World will join her sister Natchan Rera, completed by Incat last August, in service across Japan?s Tsugaru Strait between the islands of Honshu and Hokkaido.At nearly 11,000 gt and ...
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MARPOL Annex VI revision passed at IMO meeting
The revision of MARPOL Annex VI and the NOx Technical Code (Annex VI) is on track for formal adoption in October 2008 and is likely to enter into force in March 2010. A unanimous proposal, hammered out by the IMO working group which met in London last week, was passed ...
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China delivers first LNG carrier
China's first domestic built LNG carrier successfully completed its sea trials and was recently handed over to China LNG Shipping Holdings Co, a joint venture of China National Offshore Oil Corp. (CNOOC), COSCO and China Merchants Group (CMG). The 147,210 m3 membrane type LNG carrier will be using boil off ...
