Despite industry gloom about the offshore market, orders for production floaters continue to flow. Over the past few weeks a speculatively-ordered FLNG found use off Africa, negotiations began to convert a third LNG carrier to an FLNG, an FSRU…
Ulstein Group said it achieved a “good result” for 2014, with an operating turnover of NOK 2.7 billion compared to 2013’s NOK 2.3 billion. Meanwhile, the group’s operating profit of NOK 184.1 million comes in under the NOK 317.8 million operating profit for 2013…
Financially troubled Chinese shipbuilder Sainty Marine has announced Bank of China and China Exim Bank have frozen its bank accounts. Shenzhen-listed Sainty Marine has also announced that it has reached an agreement with Dutch ship investment firm…
Offshore shipbuilder Vard Holdings reported a net loss of $40mln in the first quarter, on back of unrealized foreign exchange losses from a 15-year USD-denominated yard construction loan in Brazil. Net foreign exchange losses in the quarter amounted to $37mln…
Norwegian company Siem Offshore has sold the platform supply vessel (PSV) “Siem Sasha”. It has delayed delivery of four of the nine platform support vessel (PSV) newbuildings it has under construction in Poland. The Oslo-listed company…
Singapore shipbuilding group ASL Marine has posted a sharp drop in net profit for its third quarter as revenues from its shipbuilding, shiprepair and chartering segments fell across the board. Net profit for the three months to March 31 plummeted 65…
SSI announced it will host the Autodesk Bulgaria Shipbuilding Seminar for shipbuilders, naval architects and marine engineers to learn about the challenges facing the shipbuilding industry in Bulgaria and find out how Autodesk's Extended Digital Prototyping solutions…
Damaged Ship, the conference organized by The Royal Institution of Naval Architects every two years in their headquarters in London, shows the major processes made over the last years around damaged stability in vessels and artifacts. This time…
The Shipbuilders Council of America (SCA), the national trade association representing the U.S. shipbuilding and repair industry, has announced that Tom Godfrey, President and CEO of Colonna’s Shipyard in Norfolk, Virginia, has been appointed as Chairman of the Board of Directors…
FSV Group, the Norwegian operator of specialised vehicles for maritime operations, has taken delivery of a customised 41-metre Damen barge which will provide a range of services to the Norwegian aquaculture industry. This sector is currently…
ClassNK has released the amendments to its Rules and Guidance for the Survey and Construction of Steel Ships on 8 May 2015.ClassNK continuously reviews, updates, and amends its technical rules and guidance as part of its ongoing efforts to improve the safety of life and property at sea…
Barzan, the first in a series of six 18,800 TEU container vessels ordered by UASC, was recently named at Hyundai Samho Heavy Industries (HSHI) in Mokpo, South Korea. The vessel is the first to receive classification society DNV GL’s new GAS READY notation…
The Turkish shipyard SEDEF has signed a contract with the Turkey's procurement agency, the Undersecretariat for Defense Industries (SSM) for the design and construction of Landing Platform Dock (LPD) for the Turkish Navy. The 231-meter landing platform dock that is capable of carrying 1…
The naming and launch ceremony of the 5,500m³ trailing suction hopper dredger (TSHD) ILEMBE took place on Saturday, May 9, 2015 at Royal IHC’s shipyard in Kinderdijk, The Netherlands. The dredger is being built for Transnet National Ports Authority (TNPA)…
Goldman Sachs can't see an end to the dry cargo downturn until at least 2020 on a glut of vessels and stalling cargo growth, says a report in Bloomberg. Overcapacity and low fuel prices are bound to keep low dry bulk shipping freight rates for the rest of the decade or even longer…