General News

A.P. Moller ? Maersk in Denmark has signed an agreement with Hyundai Heavy Industries for the delivery of 18 container vessels in 2011 and 2012. The vessels will each have a capacity…

Shares in Aker Yards ASA jumped 15 % in opening trade, leading up a stronger overall market, after South Korea's STX Corporation announced that it is to launch a bid for the…

As Saudi Arabia announced a 200,000 barrel increase in oil production and consumers grapple with record pump prices and fuel shortages, the shipping industry consumes daily 4.37 million barrels of oil unnecessarily,…

Kawasaki Kisen Kaisha, Ltd. ("K" Line) will become a strategic investor in FLEX LNG Ltd. (FLEX LNG), having agreed to take a 15% stake in FLEX LNG through participation in the private…

STX Shipbuilding has cancelled a 220.7 billion won ($212 million) contract for two bulk carriers after the European customer failed to make the initial payment. The contract was signed in November last…

The Sevmorput shipyard in Murmansk has signed a contract with the Vyborg Shipyard, one of Gazprom?s main contractors in the Shtokman project, to assemble the two platforms which will be used in…

STX Norway AS, 66.7 % owned by STX Shipbuilding, increased its stake in Aker Yards ASA to 40.39 % and will make a mandatory bid for all the shares of the European…

The hull of a 150,000 dwt FSO vessel, the FSO-5, was launched recently at the Nam Trieu Shipbuilding Industrial Corporation, NASICO, a member of Vinashin, in the northern port city of Haiphong.…

Chinese shipbuilding group JES International Holdings Ltd. has won shipbuilding orders worth a total of $247.5 million. The company said it secured an order from Croatia's Atlantska Plovidba to build four 79,800…

The order book of a once defunct firm will soon exceed R1 billion, thereby creating hundreds of new jobs, largely thanks to a relatively small injection of loan funding by the KwaZulu-Natal…