CHINA Shipbuilding Industry Corp, one of the nation’s two state-run shipbuilding groups, plans to triple its turnover by 2015 when it expands its building capacity to meet rising global demand. The Beijing-based group said yesterday it expects to achieve a turnover of 150 billion yuan (US$18.75 bill
The new model, developed and constructed in the Avigliana shipyards, will be unveiled at the forthcoming Genoa International Boat Show 2006. The new 47′ is the latest stylistic development from Stefano Righini for the Azimut Fly Bridge range, with its characteristic superstructure windows, the skilf
Today Concordia Maritime took delivery of Stena Performance, the forth vessel in the P-MAX series of total eight vessels. The vessel is as previously announced chartered for five years to the American oil company Amerada Hess Corporation. Concordia Maritime is an international tanker shipping compan
Daewoo Shipbuilding & Marine Engineering Co., the world’s second-largest shipyard, said it has received a 509 billion won ($531 million) order to build container ships for a customer in Panama. The Seoul-based company will build an unspecified number of container ships and deliver them by April 30,
Gulf Drilling International (GDI), a 60:40 joint venture between Qatar Petroleum and Japan Drilling Company, has secured a $130mn syndicated term loan from QNB and Standard Chartered Bank. The purpose of the term loan is to finance the purchase of GDI
Frontline has as reported in the Company’s First quarter report ordered four VLCC new buildings at Jignan Shipyard in China for delivery 2009 and onwards. Two of these originally newbuilding contracts have in the second quarter been sold to third party including an element of profit. Frontline has s
Moller-Maersk A/S, the world’s biggest container shipping company, cut its outlook for 2006 profits yesterday in part due to falling freight rates, sending its shares sharply lower. Moller-Maersk said it expected net profit this year to fall 20 per cent from its 2005 result of 20.2 billion kroner (e
Damen Shipyards Singapore (the specialist builder of fast aluminium vessels of the Damen Shipyards Group) has been awarded a contract by the Singapore Government for ten high speed patrol vessels. Designated ‘Damen Stan Patrol 3507’ the vessels will be operated by the Singapore Police Coast Guard. T
The United States Navy awarded a team led by Lockheed Martin a $198 million contract to build a combat ship, officials said Tuesday. The project will be headquartered in Middle River. This will be the Navy’s third Littoral Combat Ship, the second built by Lockheed Martin (NYSE: LMT). “We are excited
Secretary Angelo T. Reyes has cancelled a shipping vessel
THE Safmarine Agulhas, which ran aground in East London late on Monday, is still stranded and rescue teams are focusing mainly on the protection of the marine environment. National Ports Authority spokesman Terry Taylor said yesterday the bulk carrier had 662 tons of heavy fuel on board and 88 tons
At a public hearing on Gulf LNG’s proposed Jackson County liquefied natural gas terminal Tuesday night, many of the comments focused on the safety of the project and the fate of almost 3 million cubic yards of dredge material the company will need to remove to build the terminal. Tim Broussard, coun
The Safmarine Agulhas, grounded off the East London harbour breakwater, is stable and not leaking, the National Port Authorities (NPA) said on Wednesday. “The weather was fairly favourable last night (Tuesday), she didn’t move at all last night. She’s still in good condition,” said the NPA’s East Lo
The drag race up the eastern seaboard continues apace, with the fleet mostly strung out in an east to west group. The weather is being driven by clockwise rotation around the North Atlantic high, and this should stay with the fleet for the next few days. The US Navy
