STX OSV wins PSV [Offshore]
STX OSV, subsidiary of Korea's STX Offshore & Shipbuilding, is said to have won a newbuilding contract to build one PSV ((Platform Supply Vessel) from one of the global shipowners. The hull of the unit will be built at the Rumania-based shipyard ...
2011-02-15 09:30:31
Abu Dhabi Ship Building profits drop [Finance]
Abu Dhabi Ship Building (ADSB), the country's naval and commercial vessels supplier, reported a 20.7 per cent drop in full-year net profits to Dh90.6 million. The marine vessels contractor generated Dh1.13 billion in revenues, only slightly less t...
2011-02-15 08:21:44
6,000-7,000TEU's to benefit [Equipment]
Containerships of 6,000-7,000 teu stand to benefit the most from the expanded Panama Canal. They will be in greatest demand because larger ships will remain subject to limitations on the eastern seaboard of the US, claims a new study by DVB Bank. ...
2011-02-15 08:14:31
Indian shipbuilding grows 30% annually [Shipbuilding]
Despite recessionary conditions, traffic handled at major ports in India grew an average of 5.7 percent in the year 2009-10, over the year 2008-09, stated a study by the Export-Import Bank of India (Exim Bank). The study concluded that the shipbu...
2011-02-15 08:05:08
Korea needs big repair yard [Shipbuilding]
Many are paying attention if a large-scale ship repair yard will be established in Busan new port. According to shipbuilding and shipping industry sources, Korea Shipowners' Association (Koshipa) has recently suggested some measurements for the e...
2011-02-15 07:41:48
Daewoo creates fortress-ship [Equipment]
Korea's Daewoo Shipbuilding & Marine Engineering has developed a fortress-style ship, which is safe from being kidnapped by pirates. Daewoo has succeeded in producing DASP (DSME Anti-Pirate System) and applied for a patent over some of its technol...
2011-02-15 07:35:18
Yantar upgrade to cost RUB 17bn [Shipbuilding]
Russian government allocated 17bn roubles ($581m) for the project of reconstruction and re-equipment of JSC Baltic Shipyard Yantar in the period of 2011-2018. The funds will be spent in line with the target program 'Development of the military-in...
2011-02-15 07:24:24
Tanker prices plummet [Shipping]
Recent tanker S&P transactions have underscored the dramatic slump in values across the board over the last three months, with the most severe falls seen for 15-year-old very large crude carriers, down 20% . Ten-year-old panamax tankers of 70,000 ...
2011-02-15 07:16:36
Hercules acquires rigs from Seahawk [Offshore]
US drilling contractor Hercules Offshore has beefed up its fleet of jack-up drilling rigs following the acquisition of assets controlled by bankrupt owner Seahawk Drilling. Nasdaq-listed Hercules says it snapped up 20 units in exchange for 22.3 m...
2011-02-15 07:08:12
ABB powers cruise duo [Equipment]
Swiss's ABB has secured a contract to equip two cruiseships on order at Germany's Meyer Werft. ABB says the deal, valued at more than $50m, is tied to power and propulsion systems for a pair of 4,000-passenger newbuildings ordered by US owner Norw...
2011-02-15 07:04:19
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