Acquiring ships from financially troubled shipping companies will remain one of the mainstay jobs handled by South Korean finance house Korea Asset Management Corporation (KAMCO) next year, reports Korea Times. The company has bought 33…
South Korean shipbuilders' new orders in November fell to the lowest level in six years amid woes over their growing losses, Yonhap reports. Meanwhile, Chinese rivals scooped up a large slice of contracts, according to the data compiled by global researcher Clarkson Research Services…
The Economou family's TMS Cardiff Gas Ltd. has exercised options on its contracts with Hyundai Heavy Industries of Korea for the construction of an additional two 78,700 cbm LPG carriers. Both vessels are scheduled for delivery in Q4 2017…
Rig-builder Sembcorp Marine (SembMarine) is currently embroiled in a dispute with Marco Polo Marine over a US$214.3 million rig construction contract that Marco Polo wants terminated. In a statement on Monday, Macro Polo reiterated its…
DNV GL presented Dalian Shipbuilding Industry Co. Ltd (DSIC) with an Approval in Principle (AiP) certificate for their new DSJ-500 jack-up design for drilling in depths of up to 500 feet. Tor E. Svensen, DNV GL Group Executive Vice President…
Two new marine geological research vessels under construction in China will feature a broad scope of Wärtsilä engines and propulsion equipment. Wärtsilä has maintained a leading position in China for supplying propulsion solutions to research vessels…
Horizon Shipbuilding, Inc. of Bayou La Batre, Ala., has been presented with the 2015 “Innovator of the Year” award by the Mobile Alabama Chamber of Commerce for Horizon was recognized for its GORDHEAD collaboration software aiming to revolutionize…
The twice yearly meeting of BIMCO’s Documentary Committee took place in Hamburg on 19 November. In his first meeting as Chairperson of the Committee, Belgium’s Francis Sarre presided over the adoption of several new contracts and clauses and…
Taiwanese shipping company Evergreen is ordering ten 2,800 TEU container ships from Japanese shipbuilder Imabari Shipbuilding Co.,Ltd and compatriot CSBC Corporation. The deal between the companies is to buy 10 new 2800 TEU container vessels…
Official announcements related to naval shipbuilding give the appearance of a Russian Navy that is undergoing a rapid revival. However, the reality is that many projects have faced lengthy delays and cost overruns, says a report in Center for International Maritime Security…
New semisubmersible floating platform will be used to transport special material decommissioned by the Russian Navy Itarus, the new semisubmersible floating platform built to transport Russia’s nuclear materials, was launched at a ceremony on November 19 at Fincantieri’s shipyard in Muggiano…
United Arab Emirates leading shipyard Grandweld has delivered a dive maintenance and support vessel TAWAM1 to Abu Dhabi National Oil Company (ADNOC). Grandweld took the newbuild project from conception to completion, designing and building…
Classification society ClassNK has released draft amendments to its rules and guidance for container carriers, with the aim of implementing more comprehensive rules for increased ship safety. The amendments were approved by the ClassNK Technical Committee in Tokyo on November 19…
Huntington Ingalls Industries (HII) announced today that its Newport News Shipbuilding division has opened a new facility that provides workspace for the crews of Virginia-class submarine (VCS) pre-commissioning units (PCUs) while their submarines are under construction…
The last commercial shipyard on the Clyde, Scotland, has secured grant to help safeguard 125 jobs and create a further 100. Ferguson shipyard has been awarded a £1m grant to refurbish its Port Glasgow premises and help fund new jobs. Ferguson…
