Scottish minister Nicola Sturgeon have named Ferguson shipyard as the preferred bidder for a £97 million contract for the biggest new ferries on the Clyde since 2001 in a deal that could secure more than 150 jobs. The move will provide…
Singapore’s ASL Marine Holdings Ltd said that its wholly-owned subsidiary, ASL Shipyard Pte Ltd has clinched shipbuilding contracts worth approximately SGD140m ($100m) for the construction of a series of tugs and barges. ASL said the vessels…
Indian Minister for Shipping, Road Transport and Highways, Nitin Gadkari, has said that the Ministry has prepared a scheme to offer subsidy to the shipbuilding industry, says Press Information Bureau of the government. The proposal has been sent to the Cabinet Ministry for approval…
GC Rieber Shipping has more than doubled its net profit for the second quarter and recorded a year-on-year increase in profit on more vessels in operations and currency gains. However it has warned of a continued focus on shorter contracts in the future…
There are strong indications that the current economic crisis faced by Greece may truncate a vessel acquisition deal worth over $250 million with some Nigerian ship owners, reports BizWatchNigeria. Recently, some ship owners Association…
The global economic recovery was slower than expected and the overcapacity problem in the shipping industry remained serious, in the first half of 2015, says COSCO International Holdings. This drove stable business volume to the Company’s business segments which serve for operating vessels…
The Singapore Shipping Association (SSA) has unveiled a slew of plans to boost the prospects of its members amid tough global industry conditions, reports The Straits Times. The key initiatives include building up the finance capability…
Dashing hopes of a quick recovery from the global trade recession earlier this year, world shipping has fallen into a deep slump over the late summer, says a report in the Telegraph. Commodity turmoil could blow the shipping industry off course…
Jiangsu Hantong Ship Heavy Industry Co.,Ltd. (HT) has signed 4+2 115,000DWT Aframax Oil Tankers contract with Cardiff Marine. The Chinese shipbuilder said the tankers will be designed by Shanghai Merchant Ship Design & Research Institute (SDARI)…
State-run Shipping Corporation of India (SCI) Ltd has reported more than three times rise in net profit for the quarter ended 30 June on account of higher earnings from running oil tankers and lower bunker (ship fuel) prices. Its June-quarter net profit is 1…
South Korea's No. 2 shipbuilder Daewoo Shipbuilding & Marine Engineering Co., will push for restructuring moves, including asset sales and a reduction in the number of executives, as it reels from massive losses, reports Yonhap. The shipyard…
Kinder Morgan, Inc. is expanding its growing fleet of Jones Act product tankers having signed a definitive agreement valued at an all-in price of $568 million with Philly Tankers LLC to take assignment of contracts for the construction of four…
The Great Eastern Shipping Company Ltd. (G E Shipping) signed a contract to sell, a new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt). The vessel is being built at Tsuneishi Heavy Industries (Cebu) Inc., Philippines and will be delivered to the company in August/September 2015…
An article in WSJ highlighted the Greek shipping industry, which it says has 'emerged largely unscathed' from the nation's recent financial troubles. The reports say that shipping companies in Greece are buying vessels from cash-strapped competitors and German banks…
Two shipyards under Cosco Shipyard Group have pushed back the delivery dates for two converted high-end floating accommodation unit (FAU) at the customer’s request. Cosco (Nantong) Shipyard, a subsidiary of Cosco’s 51% owned subsidiary…
