While South Korean shipbuilders are continuing to struggle for survival as the recession in the global shipbuilding market drags on, they have clinched new orders to build nine ships in the first four months of the year. Yonhap, quoting industry data…
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced that Lakler S.A., 100% subsidiary of MOL has officially agreed to conclude a charter contract, with an eye toward reaching a final deal in June this year, with Gas Sayago…
Austal officials joined ship sponsor U.S. Senator Jeanne Shaheen and many distinguished guests in celebrating the christening of the nation’s 14th littoral combat ship (LCS), the future USS Manchester, here Saturday, May 7, 2016.Manchester (LCS 14) is the fifth LCS in Austal’s 11-ship…
State-backed shipbuilder CSBC Corporation, Taiwan has launched two domestically developed and constructed vessels in the southern Taiwan port city of Kaohsiung, reports Taiwan Today. YM Window and YM Width are 368 meters long, 51 meters wide and can carry 14…
Philly Shipyard ASA has provided key information relating to the cash dividend to be paid by PHLYDividend amount: USD 3.75 per shareDeclared currency: USD Last day including right: 12 May 2016Ex-date: 13 May 2016Record Date…
Newbuilding orders of tanker ships have seen a sharp reduction, but the slowing trend needs to be sustained for the longer-term health of the market, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry…
he first ever UK domestic dual-fuelled new build vessels will feature fully integrated Wärtsilä propulsion machinery packages. Wärtsilä will also supply extended engineering and site support services. The two ships, both 102 metre long ro-ro passenger ferries…
The demand for container shipping is really not going anywhere at the moment. Indicators for growth in the first months of 2016 point to limited overall demand and huge variations from trade to trade. In addition, all numbers are impacted by Chinese New Year…
Singapore-listed ship repair, marine engineering and dry bulk shipping company COSCO Corporation (Singapore) Limited has recorded a net loss of USD 11.7 million in the first quarter of 2016, compared to a net profit of USD 4.2 million in the corresponding quarter of 2015…
Scorpio Tankers Inc. announced it has received a commitment from NIBC Bank N.V. for a loan facility of up to $44 million.The loan facility, subject to customary conditions precedent and the execution of definitive documentation, will be…
Crowley Maritime Corporation christened the third of four new LNG-ready Jones Act product tankers at a May 5 ceremony at the Julia Street Cruise Terminal in New Orleans. The 600-foot-long, 50,000-dead-weight-ton (dwt), 330,000-barrel-capacity…
The Navy will christen its newest Independence-variant littoral combat ship, USS Manchester (LCS 14), during a 10 a.m. CST ceremony Saturday, May 7 in Mobile, Alabama.Manchester, designated LCS 14, honors the city of Manchester, New Hampshire…
The Government has signed contracts with Navantia S.A. to build Australia’s two replacement replenishment ships, avoiding a critical capability gap. Australia’s current supply ship HMAS Success will reach its end of life in 2021 and needs to be replaced as a matter of priority…
Louisiana shipbuilder Bollinger Shipyards announced it has secured a contract to build Phase II of the Sentinel Class Fast Response Cutters (FRC) for the United States Coast Guard (USCG).The FRC, the newest generation of USCG patrol cutters…
Another massive reduction in the Korean shipbuilding workforce may come as most shipyards are still struggling with falling orders and mounting losses, reports Yonhap quoting industry sources. Hyundai Heavy Industries plans for large layoffs…