Latest News – Page 894
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Japan and Korean yards win new orders
Tsuneishi Corporation in Japan has won a contract for four 82,100DWT bulk carriers from Andriaki costing $40 million each. They will be delivered during 2010. Shinwa Kaiun Kaisha in Japan ordered a 19,000DWT chemical tanker from Fukuoka Shipbuilding in Japan with delivery of March 2009. 21C Shipbuilding in South ...
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Trinity buys Pipavav stake
Trinity Capital has bought a 10.43% stake in Pipavav Shipyard Ltd, promoted by Nikhil Gandhi-backed Sea King Infrastructure, for $23.5 million. Existing investors in Pipavav Shipyard include financial institutions such as IL&FS and Exim Bank, which have a majority 51% stake in the company. "The acquisition is the second investment ...
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DDG 1000 destroyer project progresses
The US Navy has awarded Northrop Grumman Corporation a $268 million contract for continuation of detail design efforts on the Zumwalt-class destroyer, DDG 1000. "This award reinforces the Navy's confidence in our ability to execute the program to cost and on schedule," said Brian Cuccias, Northrop Grumman vice president of ...
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Risks and rewards in Arctic region
Maritime operations supporting the Arctic region?s oil, gas and mineral reserves are poised for vast growth but the potential for high returns is matched by a unique set of risks for a shipping sector still in its infancy. Bankers, insurers and conservationists will be among those sounding a warning note ...
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ISU focuses on ultra-large wreck removals
The salvage problems surrounding ultra-large vessels will provide the focus for the International Salvage Union?s (ISU) fourth Associate Members? Day meeting in London on 7 March. The meeting will be attended by representatives of a high proportion of the ISU?s 43 Associate Members and 53 full Members. The conference programme ...
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CSSC becomes number three
The China State Shipbuilding Corporation (CSSC) became the world's third largest shipbuilding conglomerate last year, behind Korea's Hyundai Heavy Industries and Japan's Imabari Shipbuilding Company. CCSC, which ranked fifth in the world in 2005, finished manufacturing 103 new ships for civil use, about 6.02 million deadweight tonnes in total, ...
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Jaya to deliver AHTS
The first Anchor Handling Tug Supply (AHTS) vessel, Sea Cheetah, from Jaya Shipyard in Singapore is expected to be delivered on 8 February which was the original delivery date. Deep Sea Supply has entered into a 3-4 months time charter with Acergy. The value of the charter is approximately $6.5m, ...
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Korea?s domestic investment dwindling
The amount of overseas investment by Korean businesses last year more than doubled over that of previous year but at the expense of domestic investment. To make the matter worse, foreign investment in Korea is at a standstill. According to the Ministry of Finance and Economy, overseas investment by Korean ...
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BAE bids for DML
BAE Systems, the UK?s biggest defence contractor, is poised to win control of the Devonport dockyard, home to Britain's nuclear submarine fleet, after Babcock International appeared to draw back from making an offer. KBR, the US defence firm that controls Devonport, admitted publicly that it had received enquiries about its ...
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Triton heading down under
Gardline Australia Pty Ltd, a subsidiary of Gardline Group in Great Yarmouth, UK, has signed a one-year contract for ?Triton? to augment the customs patrol boat fleet as the Australian Government strengthens its enforcement activities against illegal foreign fishing vessels.The Australians selected the ?Triton? on the basis of her "range, ...
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Wärtsilä wins first FPP order from Vietnam
Wärtsilä has won a contract from Vinashin Shipbuilding Industry Corporation in Vietnam to supply fixed pitch propellers (FPP) for a series of five bulk carriers under construction for UK-based shipowner Graig Group. The contract signed in November, marks Wärtsilä's first FPP contract from a Vietnamese shipyard. "Wärtsilä has previously ...
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AMC needs floating dock
Australia?s Industry and Enterprise Minister Francis Logan called for tenders for the construction of a floating dock at the Australian Marine Complex in Henderson. Logan said the floating dock was part of the $174 million AMC expansion announced by Premier Alan Carpenter last year. "The AMC is gaining an international ...
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ISD strengthens grip on Gdansk
Ukrainian industrialists continue to snap up production assets in neighbouring Central Europe, quietly establishing a sizable foothold in the EU. A Polish shipyard is the latest target of a leading Donetsk-based financial-industrial group that already owns two steel mills in Eastern Europe.The Industrial Union of Donbass, also known as ISD ...
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APT builds third Europe river cruise ship
Australian Pacific Touring (APT) has announced the building of a third European River Cruise Ship. The new 150 passenger ?Amacello?, expected to be ready for 2008, will be a sister ship to the ?Amadagio?, launched in 2006, and the ?Amalegro? which will be launched in March this year.Construction of the ...
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Daewoo Mangalia books box quintet
Daewoo Shipbuilding and Marine Engineering has won a $500 million order to build five 4,710 TEU containerships for Germany's Hamburg Sud. The ships will have a length of 309 m, beam of 40 m and a depth of 24.2 m with a 22.7 knot service speed.The vessels will be built ...
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Mega Hopper ordered in Spain
Dredging and Maritime Management S.A., member of the Jan De Nul Group, has ordered a new 223 metre mega hopper with a capacity of 46,000 m3. The order has been placed with Construcciones Navales del Norte, and the vessel will be built in the "La Naval" Shipyard in Sestao. It ...
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Target orders ten Panamax bulkers
Target Marine in Greece has placed an order for four plus six 81,000DWT bulk carriers with C& Heavy Industries in South Korea at the price of $ 400 million. They will be delivered from late 2008 to mid 2010. Ship particulars are 229m in length, 32.2m in breadth and 20.1m ...
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EU project designs oil recovery vessel
Oil Sea Harvester, an EU funded project, is developing an innovative ship design for tackling oil spills in rough seas. The decision to design such a ship was made in the aftermath of two major European oil tanker disasters. On 12 December 1999 the oil tanker ?Erika? broke in two ...
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Namura wins caper
Namura Shipbuilding in Japan clinched a 228,000DWT bulk carrier from MOL. Scheduled for delivery in early 2009, the Cape size bulker will have a length of 319.6m, a breadth of 54m and a draught of 18.1m.
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Wärtsilä Hyundai in joint venture
Wärtsilä and Hyundai Heavy Industries Co. Ltd (HHI) signed an agreement to set up a 50/50 owned joint venture in Korea to manufacture dual-fuel engines for LNG carriers. The total investment in the company will be EUR 58 million, Wärtsilä's share being EUR 29 million. The name of the company ...
