Genting Hong Kong, a unit of Malaysia's gaming giant Genting, is building 10 cruise ships worth 3.5 billion euros ($4 billion) in anticipation of higher demand from the Chinese market. Genting has signed an order for 10 ships with the Lloyd Werft Group…
The world's largest cruise ship, Harmony of the Seas – which cost US$1 billion to build over 32 months – has been finished and was delivered to owner Royal Caribbean International. The immense floating town has 18 decks and will be able to carry 6…
Shipbuilder ASL Marine has secured a total S$156 million worth of contracts from its shipbuilding, shiprepair & conversion, shipchartering and dredging engineering divisions. The contracts secured are mainly from repeat customers in the region as well as in the Middle East…
Presenting its financial results for the first quarter ended 31 March 2016 today Vard Holdings Limited announced a net profit of NOK 43 million for the period, as compared to a loss of NOK 226 million a year back. Over the past quarter,…
Cash-strapped South Korean shipbuilder Hanjin Heavy Industries & Construction (HHIC) has signed a memorandum of understanding (MOU) with its creditors to receive a KRW 120bn ($103m) cash injection, and will sell off property and businesses worth KRW 2tr ($1…
Eastern Shipbuilding Group, Inc. launched the Escort Tug OCEANUS for Suderman & Young Towing Company on April 26, 2016. This series of Robert Allan, LTD. (RAL) designed Z-Tech 2400 Class Terminal & Escort Tugs is currently under construction at Eastern’s Nelson Street facility…
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…
