The scaled up version of the Damen PSV 3300, PSV 5000 is sparking considerable interest from high profile orders after its launch last year. The latest to recognize the benefits of this slender design, is Atlantic Towing (USA) which has ordered four ice-strengthened PSV 5000 vessels to meet its de
Vard has acquired STX Canada Marine Inc., a North American-based marine engineering and design company, for approximately $10.5m. According to Vard, the acquisition was made in order to accelerate the company’s growth in North America, as well as to access STXM’s portfolio of icebreakers, offshore
Overcapacity in the shipping segment may be expanding to other market sectors as well, as oil majors start cancelling charter contracts for rigs. Namely, on Friday Statoil decided to suspend the contract with Saipem for the rig Scarabeo5 from the autumn of 2014, provisionally for the remainder of
BG Group and the investor of Queensland Curtis LNG Project have contracted Hudong-Zhonghua Shipbuilding Co., Ltd. to build four LNG carriers plus two options. With GTT No.96 E-2 membrane-type cargo tanks, these 174,000 m3 vessels are 290m in length, 46.95m in breath and 26.25m in depth (moulded).
The Royal Navy’s new aircraft carrier, HMS Queen Elizabeth, has been officially named by Her Majesty the Queen at a ceremony in Scotland. The ceremony, held at Rosyth dockyard near Edinburgh, marks the completion of the flagship which is the largest ship built for the Royal Navy: With a height of
BC Ferries has awarded Remontowa Shipbuilding S.A. of Gdansk, Poland contracts totaling $165m to build three new intermediate class vessels. The total project budget approved is of $237m, including financing and project management costs that would have been incurred regardless of where the vessels w
The number of ships sailing under the Danish flag has reached a new high, new data from the Danish Shipowners’ Association shows. The Danish merchant fleet has reached a new milestone. In the most recent fleet count on 1 July 2014 the fleet sailing under the Danish flag accounted for more than 15
Installation of the last sponson, P1, on the port side of the wreck of the cruise ship Costa Concordia was completed as planned yesterday afternoon. Now, ahead of authorization from the Monitoring Observatory, technicians can start to test all the systems for the final refloating of the Concordia.
The beginning of 2014 saw the global order-book continue the growth trend which started in 2013 after five successive years of decline, it was concluded during the annual general meeting of European Ships and Maritime Equipment Association (SEA Europe) held in Copenhagen, Denmark from 26-28 June.
Fincantieri has debuted on Mercato Telematico Azionario (MTA), the main market of Borsa Italiana. The company operates in the design and construction of complex ships with high technological capabilities, such as merchant and naval vessels, offshore and mega yachts. Fincantieri raised $479m at IPO,
Despite the overcapacity of ships on the market, which has been a hot topic recently, the newbuilding orders for ships don’t seem to be toning down. When speaking about bulk carriers, Pan Ocean has placed an order for two firm 207,000 DWT Newcastlemaxes at New Times, with both vessels due to deliv
The Board of Directors at Wisdom Marine Group has given the green light for the purchase of one 81,700 dwt bulk carrier, which should be priced at around $35 million. The vessel is to be built by Namura Shipbuilding Co., Ltd. This bulker is the fifth vessel built for Wisdom Marine Group at Namura, w
The American Bureau of Shipping (ABS) has entered into a joint development project (JDP) with South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) to develop the industry’s first LNG fueled drillship. The JDP will address challenges associated with storing and managing cryogenic LNG safel
Preparations for the construction of a 24,000 teu containership, which is 5,000 teu bigger than the current largest vessel, are gearing up and could start in 2016, as forecast by Ocean Shipping Consultants (OSC). These giants of the sea would feature 430m times 62m in size, although their draught wo
