Month: April 2009

The German government will bring forward investments in ships to help its troubled shipyards to survive the current downturn. According to Minister of Transport Wolfgang Tiefensee, old state-owned vessels should be scrapped…

The first South Korea-built nuclear waste container carrier has been completed. Dae Sun Shipbuilding & Engineering in South Korea has delivered the country's first pure nuclear waste container carrier to Korea Radioactive…

A plunge in supertanker rates to their lowest in at least 11 years will likely spur owners to scrap ships and cancel orders for new ones, according to Bermuda-based tanker operator Frontline…

Sembcorp Marine announced that an important client to its wholly-owned subsidiary Jurong Shipyard has gone bust. Singapore-based Petroprod, a member of Norway's Larsen group which specialises in mobile production and field development…

STX Europe has, through its wholly owned subsidiary STX Norway Offshore AS, signed contracts for building of three icebreaker tugs to JSC Circle Marine Invest. The subsidiary company, Caspian Offshore Construction in…

The Chennai-headquartered Tebma Shipyards Ltd in India is going slow on its capacity expansion programme though it is "not affected by economic slowdown". P.K. Balan, Chairman, Tebma, said that the company had…

South Korea's STX Group said its Chinese affiliates have secured 2.85 billion yuan ($417 million) in loans from Chinese lenders to fund the construction of its industrial complex there. STX Dalian Shipbuilding…

Abu Dhabi-based National Petroleum Construction Company (NPCC) has awarded Dutch design office Ulstein Sea of Solutions the basic design contract for their new large derrick pipelay vessel ?DLS-4200?. The new vessel will…

Nippon Yusen K.K. (NYK), Japan?s largest shipping line, will slash fleet expansion plans by 10% as it scraps some ships and returns others to owners amid slumping demand for transporting cars and…

Norilsk Nickel, Russia's largest mining company, is close to ordering two high-value icebreaking tankers and a large icebreaker at Germany's struggling Wadan Yards. The deal, worth an estimated EUR 350m ($461m), is…