China's slower growth and economic transition will pose significant risks for the already struggling shipping sector, rating agency Fitch said. The shipping sector is already faces overcapacity, weak freight rates and stretched financials…
South Korea’s second-largest shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) hit a hurdle in its efforts to get capital injection after the Export-Import Bank of Korea (Korea Exim Bank) delayed necessary funding for its shipbuilding project…
The Investment Coordinating Board (BKPM) is looking to book millions of dollars of investment realization in the shipbuilding industry by the year-end as domestic demand is expected to skyrocket following the government’s instruction to prioritize the utilization of locally produced vessels…
China’s Shanhaiguan Shipbuilding Industry has booked an order to build up to six feeder containerships for Dalian Port Wantong Logistics and Dalian Jifa Ship Management. The newbuilding contract will see the affiliate yard of China Shipbuilding Industry Corporation (CSIC) construct two 1…
Sinotrans Shipping, one of China’s largest shipping companies, is in negotiations to take part in a joint venture to commission the building of five Arctic LNG carriers, says the company's stock market announcement. The company said in…
BAE Systems Ship Repair Norfolk has announced plans for layoffs - 650 people will be layed off effective November 20, 2015, says company sources. This represents 43 percent reduction in workforce. The company attributed to a decrease in Navy repair work…
China’s COSCO Guangdong Shipyard today launched Greyman Express, the sixth newbuilding livestock carrier to be constructed for Dutch company Vroon at this yard. Four newbuilding livestock carriers have already been delivered to Vroon and have entered service…
The dredging and maritime management company Jan de Nul Group signed the acquisition of the offshore facility vessel Vidar, which previously worked for the German company Hochtief. The facility vessel Vidar, which is less than two years old…
New ship orders at Chinese yards have fallen 68.3 percent to the end of August as tough conditions prevailed in the global shipping market, Global Times reported quoting data from the China Association of the National Shipbuilding Industry (CANSI)…
Seaspan Corporation has lined-up a $1bn worth of export credit facilities with the Export-Import Bank of China (CEXIM). Seaspan has signed a Framework Cooperation Agreement with the Export-Import Bank of China (CEXIM) for a total of up to $1 billion in export credit facilities…
Sanmar Shipyard Tuzla has built M/T Svitzer Amstel (Boğaçay XII) will join Svitzer’s fleet at the Port of Amsterdam, The Netherlands. The vessel measures 24.4m x 11.25m with a 60 tonne bollard pull derived from a pair of 3512 C Caterpillar engines…
Ten new medium range product tankers will join the fleet of state-owned Oman Shipping Company (OSC) in the next one year, taking the total strength of the fleet to 53 from 43 now, reports Times of Oman. According to the chief executive officer of Oman Shipping Company Tarik Mohammed Al Junaidi…
China is offering to build submarines for Egypt that are cheaper than vessels on offer from Germany, sources told Reuters, as Beijing looks to enhance weapons exports over a normal patron bottom in Asia. According to sources, Beijing has…
Singapore Technologies Marine Ltd (ST Marine) delivered the second Patrol Vessel RNOV Shinas to the Royal Navy of Oman (RNO). The Company also held the Naming Ceremony for the third PV RNOV Sadh built for the Navy. The Guest-of-Honour was the Commander of the Royal Navy of Oman…
With China’s COSCO confirming its $1.5-billion order of 11 new 19,000 TEU ships for delivery in 2018, the “arms race” for Ultra Large Container Vessels (ULCV) of over 18,000 TEU continues but carriers are having to be more creative when deciding where to deploy smaller deliveries…
