Caterpillar Marine’s dealer in Turkey, Borusan, has signed a Letter of Intent (LOI) with Turkish shipbuilder Sanmar Shipyards for the supply of a range of propulsion units over the next three years. The LOI covers the supply of Cat propulsion…
Dorian LPG Ltd took delivery of five vessels under our ECO-design VLGC newbuilding program, the Continental, the Constitution, the Commodore, the Cresques and the Constellation. John Hadjipateras, Chairman, President and Chief Executive Officer…
China Shipping Group's CSCL has agreed a deal to bareboat charter up to 11 units of 21,000 teu containerships, of which five will be options exercisable after six months of charter for the first six ships, says local media reports. It has confirmed the 21…
U.S. shipbuilder Huntington Ingalls Industries (HII) announced today a number of changes across its leadership team.HII’s Board of Directors has elected Christopher D. Kastner to succeed Barbara A. Niland as the company’s chief financial officer and corporate vice president…
Press release - The Lincoln Electric Company, a subsidiary of Lincoln Electric Holdings Inc., announced it is investing approximately $30 million in a new Welding Technology Center on its Euclid, Ohio campus.The Center will focus on the…
Creditors of South Korea's Daewoo Shipbuilding and Marine Engineering Co. will pour 4.2 trillion won about (US$3.68 billion) into the ailing shipyard to help it get back on track, the main creditor bank said, according to South Korea's (Yonhap) News Agency…
CSSC Wärtsilä Engine (Shanghai) Co. Ltd (CWEC) celebrated the beginning of construction on its new 20,000 sq.m. factory with a groundbreaking ceremony on October 28 in Lingang, Shanghai. Following the groundbreaking ceremony, strategic cooperation…
American Cruise Lines, operator of the newest cruise ships in the United States, announced today that it has begun construction on a new coastal cruise ship, yet to be named. The news of this addition is the most recent in a series of…
$1 billion Memorandum of Understanding between the Eximbank of China and ING Bank for shipping finance On October 26, 2015 in the presence of President Xi Jinping and King Willem-Alexander of the Netherlands, ING Bank NV and The Export-Import…
Shipbuilders Council of America (SCA) has appointed Rear Admiral Jeff Brooks (Ret.) to Senior Defense Advisor. Brooks joined SCA in October and will focus on advocating, communicating and representing the ship repair industry to all stakeholders and to the U…
The annual Tripartite meeting between shipowners, shipbuilders and classification societies was held in Seoul, Republic of Korea on 16 and 17 October 2015. The meeting was attended by 100 high level representatives of the industry, including…
The builder of luxury yachts Grand Banks Yachts swung to a net profit of $1.2 million for the first quarter ended Sept 30 compared to a net loss of $1.3 million for the year-ago period. Following restructuring efforts after a major acquisition…
Hindustan Shipyard Limited (HSL) may sell its bulk carrier under construction at the yard to the Indian Navy, reports the Hindu. Goodearth Maritime Limited (GML) has failed to settle its dues for nearly a year after placing the order under Diamond Series of 53…
Daewoo Shipbuilding & Marine Engineering Co. (DSME) is expected to log an operating loss of over 5 trillion won (US$4.4 billion) this year, up by some 1 trillion won from previous forecasts, reports Yonhap. The outlook follows a recent audit by the state-run Korea Development Bank (KDB)…
Shipbuilding and dry bulk shipping company Cosco Corp (Singapore) expects to post a loss in the third quarter ended September 30, 2015 compared to a profit recorded in the same period a year earlier. The financial pain comes on the back of the offshore slump…