Month: October 2006

PetroVietNam Technical Services Company signed a $110 million contract with Vinashin for a new floating storage offshore (FSO) vessel. This will be the first FSO to be built in Vietnam and is…

STX Shipbuilding in South Korea delivered a new product tanker to Sovcomflot JS?. Named ?SKF Neva?, this is the first product tanker of the series and the 46,520 tonne vessel is 183…

Plans for two Clyde-built Type 45 destroyers could be scrapped by the UK?s Ministry of Defence as part of a long-term £12bn budget cut demanded by the Treasury ahead of next year's…

The Davie Industries shipyard in Lévis, Quebec in Canada, has avoided liquidation and finally found a buyer. Teco Management of Norway will invest $13 million to buy the facility, while the Quebec…

International shipbroker and consultant Galbraith's Ltd says that demand for Suezmax tankers is expected to grow strongly in the next five years in line with large-scale expansion of crude oil exports in…

BAE Systems and VT Group have resumed talks to combine their shipbuilding operations according to news paper reports. The assets that are expected to be merged include BAE's yards at Barrow-in-Furness, Scotstoun…

Western Australian shipbuilder Austal plans to increase significantly the capacity of its US manufacturing plant as the company ramps up its operation to meet forecast demand from the US defence sector. Austal…

Wärtsilä has signed an agreement to acquire the entire business of the Swedish company Stockholms Fartygsreparationer AB. The agreement is worth 7.5 million Swedish krona (EUR 0.8 million). Stockholms Fartygsreparationer handles all…

The Sarawak-based shipping company Swee Joo Bhd may acquire more than five vessels over the next 15 months in anticipation of growth in the palm oil industry in East Malaysia and an…