Croatia mulls LNG-FSRU option [Offshore]
Croatia's state-owned gas pipeline operator Plinacro plans to install a floating liquefied natural gas terminal as a temporary replacement for a much bigger but delayed LNG project. "We are now waiting for a formal approval from the government to...
2010-10-19 08:14:40
MHI new engine testing at Kobe [Equipment]
Mitsubishi Heavy Industries, Ltd. (MHI) will install testing equipment for two-stroke, low-speed marine diesel engines at the company's Kobe Shipyard & Machinery Works in Hyogo, Japan. Installation is slated for completion in the spring of 2012. ...
2010-10-19 08:10:14
New shipbuilding zone coming [Shipbuilding]
Bangladesh will establish a special shipbuilding zone to promote the export-oriented shipbuilding sector with the aim of earning $5 billion a year from exports by 2015, said officials. The Export Promotion Bureau (EPB), which is leading the plan, is ...
2010-10-19 08:06:47
Capesizes rise on recovering iron ore demand [Shipping]
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk shipowners, especially those who have invested in the capesize market, as rates improved together with an increase of ir...
2010-10-19 08:04:47
ABG acquires WIS [Shipbuilding]
India's ABG Shipyard has completed its long-running takeover of the country's biggest shiprepairer. It has sealed its acquisition of another 40.57% stake in Western India Shipyard (WIS). The yard bought 119.55m shares from ICICI Bank in off-m...
2010-10-19 08:02:09
Boustead wins state order [General]
Malaysia's Boustead Heavy Industries saw its shares gain in value after landing a patrol vessel contract. The shipbuilder's subsidiary, Boustead Naval Shipyard, will build six combat ships for the government. This sent the stock up 2.4% to MY...
2010-10-19 07:59:33
Wartsila sheds more employees [General]
Finnish ship engine giant Wartsila is continuing its reorganisation with more job cuts in support functions. The company wants a global approach to support and information management services to avoid overlaps. This will result in about 400 jobs ...
2010-10-19 07:56:33
BKM expands into shipowning [General]
Asian engineering and shipyard group Beng Kuang Marine (BKM) is looking to add "shipowner" to its résumé. The Singapore-listed outfit says it preparing to expand and diversify its shipping activities, according to exchange filings. ...
2010-10-19 07:54:13
Tanker: Bleaker from day to day [Shipping]
Tanker rates will not only fail to rally in the fourth quarter they will also remain under the cosh in 2011, Oppenheimer warns. An onslaught of newbuildings and a cut in floating storage contracts has lead analyst Scott Burk to cut back his forec...
2010-10-19 07:50:28
Sembcorp signs for $1bn new rigs [Offshore]
Sembcorp Marine's Jurong Shipyard has inked a newbuilding contract with Norwegian deep-water drilling company Seadrill to build up to six jack-up offshore drilling rigs potentially worth $1bn. The deal comprises firm orders for two turnkey jack-up...
2010-10-19 07:47:34
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