After cancelling the order for four units from Samjin Shipyard earlier this year, dry cargo specialist Bocimar, a part of CMB Group, decided to cancel a further order for six units due to the bankruptcy of the yard, the Belgium-based company disclosed in their third quarter results report. The advan
Fincantieri has launched a super luxury cruise ship Le Lyrial, ordered by the French shipping line Ponant (Bridgepoint Group), at its shipyard in Ancona, Italy. The ship is to be delivered in spring 2015. The new ship, which will fly the French flag, is the fourth sister ship following “L’Austral”,
Deepwater drilling contractor Diamond Offshore Drilling, Inc. has revealed plans to retire and scrap six of its mid-water semisubmersible rigs. The plans are expected to result in a non-cash impairment charge in the third quarter of USD 109 million before tax, or USD 0.84 per share after tax, the co
South Korean shipbuilder Hyundai Heavy Industries (HHI) may be facing strike for the first time in two decades as unionized workers threat to stop production if the management doesn’t sort out wage and benefit issues. The talks between the two sides over pay increase broke off in September after fai
The United Arab Emirates-based superyacht manufacturer Gulf Craft is planning to invest USD 100 million over the next five years in a new shipyard for luxury yachts spanning over approximately 900,000 square feet within the Dubai Maritime City complex. Commenting on the announcement, Mohammed Hussei
The fourth and final 31,445GT Product Tanker Mutriba, built by Hyundai Mipo Dockyard Co., Ltd. (HMD) as part of a series of vessels being constructed for the Kuwait Oil Tanker Company S.A.K. (KOTC) was officially delivered to KOTC at a ceremony held in Kuwait on October 20, 2014. The Mutriba is the
Hyundai Heavy Industries Co., Ltd. (South Korea), has received an order for two newly built LNG tankers with an option for a third tanker from Hyproc, the marine transportation subsidiary of Algerian state-owned hydrocarbon company Sonatrach. The newly built LNG tankers will be of the 170,000 cubic
Helsinki-based Wärtsilä Corporation has a strong order intake in the third quarter of this year, according to its Interim report covering January-September 2014. Order intake increased 21% to EUR 1,309 million (1,086) in the third quarter, whereas net sales decreased 7% to EUR 1,117 million (1,199).
VT Halter Marine, Inc., a subsidiary of VT Systems, Inc., officially began construction on the first of two liquefied natural gas (LNG)-powered, combination container – Roll-On/Roll-Off (ConRo) ships for Crowley Maritime Corporation’s liner services group on Wednesday, October 22. VT Halter Marine a
China has secured top spot in construction of jack-up rigs by offering attractive financial packages to clients, data from UK-based research group Douglas-Westwood shows. The previous leader in the category, Singapore, was pushed to the second place with 33% share in global orderbook, 14 pct lower t
MOL Ferry has ordered two 200-metre-long, 14,000-gt eco ferries from Japan Marine United (JMU). Upon their delivery planned for 2017, the vessels will connect Japan’s islands of Honshu and Hokkaido through the Oarai-Tomakomai route. The vessels will be able to travel with speeds of up to 24 knots, a
BW Group organised a ship naming ceremony for the first two of ten medium range (MR) product tankers built by the SPP Shipyard in Korea. BW Egret and BW Falcon will join eight other MRs currently on water, and will trade in the spot market. On April 30, 2014, BW Group entered into an agreement to [&
The Lockheed Martin -led industry team launched the seventh Littoral Combat Ship (LCS), Detroit, into the Menominee River at the Marinette Marine Corporation (MMC) shipyard. Following christening and launch, Detroit will continue to undergo outfitting and testing before delivery to the Navy in 2015.
Keppel Corporation reported a net profit of S$414 million (USD 352.8 million) in the third quarter of 2014, down 9% year on year mainly due to lower profit contribution from its property division, the company said. In the first nine months of 2014, Keppel achieved a net profit of S$1,159 million, co
