Month: November 2009

The Industrial and Commercial Bank of China (ICBC), the world's biggest bank by market value and deposits, has taken delivery of the first two ships in a 14-ship order that are part…

As fuel oil prices continue to climb, carriers are increasingly applying extra slow steaming on their long haul services. With fuel prices at levels above $400/ton since October, extra slow steaming is…

STX Finland Oy and the South African Department of Environmental Affairs have signed a contract for the construction of a Polar supply and research vessel. The ship, valued at a cost of…

Daewoo Shipbuilding & Marine Engineering in Korea said it has made a profit in the third quarter on increased sales of high-end products and a stable local currency. Net income reached 191.2…

The first of class Astute nuclear powered attack submarine left BAE Systems? shipyard at Barrow-in-Furness for the first stage of sea trials designed to prove its capability as the most formidable vessel…

MAN Diesel recently celebrated the official opening of its newest service centre in Seattle, Washington, USA to further expand its PrimeServ network in North America. The newly renovated, 1,800 m2 workshop and…

The Italian classification society RINA has published new guidelines to help shipowners identify and secure safe and cost-effective locations to lay up their ships during the current economic downturn. The guidelines cover…

Vinashin recently said the group was facing a financial crunch as 15% of its contracts were cancelled due to the financial crisis. The group didn?t give any details on the value of…

STX Offshore & Shipbuilding in Korea has signed a single contract for the construction of eight 400,000 DWT very large ore carriers (VLOC). The contract is valued at about $879.8 million. Delivery…

ABS was named Best Classification Society during the recent Lloyd?s List Middle East & Indian Subcontinent Awards held in Dubai. The award ceremony is one of six regional events hosted by the…