Month: December 2008

Fuel testing agency Lintec Testing Services has warned that owners, operators and charterers should not be tempted as a result of financial pressures induced by the global credit crunch into using non-accredited…

Nippon Yusen K.K., Japan?s largest shipping line by sales, cut its fleet expansion plan by up to 60 vessels as slowing economic growth curbs demand for transporting steelmaking commodities including coal and…

China Ocean Shipping Group (COSCO), China?s largest shipping company, cancelled plans to purchase some 120 vessels in 2009, a source from the company said. According to the original plan, three-quarters were dry…

Ricardo UK Ltd, a global technology and engineering consultancy, has been awarded a 26-month gas engine contract by the world's largest marine diesel engine builder, Hyundai Heavy Industries (HHI). Ricardo and the…

Wärtsilä's long established presence in South Korea has been further strengthened with the inauguration of its new service centre and office in Eomgung, Busan. By opening these premises, Wärtsilä will be able…

Up to 50 of 190 newbuilding orders at German shipyards may be cancelled due to the financial crisis, according to German media reports. The German shipyard association VSM claims that 25 orders…

Larsen and Toubro Ltd (L&T), India's largest private sector engineering and construction firm, has deferred its entry into the commercial shipbuilding business and has also decided to scale back its investment for…

South Korea's Daewoo Engineering & Construction Co. said that it has finalized a $610 million deal to build a shipyard in north-eastern Qatar. Under the deal with state-run Qatar Petroleum Co., Daewoo…

Japan?s Mitsubishi Heavy Industries has postponed plans to return to cruise ship building. The announcement came as a major cruise liner operator, reported to be Carnival Corp, delayed orders on two vessels.…

Singapore-listed Cosco Corp said that a customer has scrapped orders for two of five bulk carriers because of unfavourable market conditions. The Chinese ship building and repair firm will also postpone delivery…