General News

The Helsinki-based Nordic and Baltic cruise operator Viking Line has placed a $78 million order for a new passenger ship with Spanish shipyard Astilleros de Sevilla SA.The vessel, which is due for…

Cosco Shipyard Group in China has signed an LOI with Marine Accurate Well ASA in Norway to build a GM4000 semi-submersible for well intervention services valued at $200 million. The contract signing…

Thales and the French state-owned shipyard DCN have reached a long-awaited tie-up agreement in which Thales will take a 25% stake in DCN as DCN takes over most of Thales' naval activities.…

Hudong Heavy Machinery in China plans to raise RMB 12 billion ($1.54 billion) from a share placement that it will use to fund its purchase of shipyards and to invest in new…

Mitsubishi Heavy Industries in Japan (MHI) has agreed to form a business alliance in low-speed diesel engines for marine use with Diesel United (DU), a subsidiary of Ishikawajima-Harima Heavy Industries (IHI). In…

Transpetro, the transportation arm of Brazilian oil giant Petrobras, has signed an agreement with the Atl?ntico Sul consortium for building 10 new Suezmax oil tankers. This is the first order in the…

Tsuneishi Corporation in Japan has won a contract for four 82,100DWT bulk carriers from Andriaki costing $40 million each. They will be delivered during 2010. Shinwa Kaiun Kaisha in Japan ordered a…

Trinity Capital has bought a 10.43% stake in Pipavav Shipyard Ltd, promoted by Nikhil Gandhi-backed Sea King Infrastructure, for $23.5 million. Existing investors in Pipavav Shipyard include financial institutions such as IL&FS…

The salvage problems surrounding ultra-large vessels will provide the focus for the International Salvage Union?s (ISU) fourth Associate Members? Day meeting in London on 7 March. The meeting will be attended by…

The China State Shipbuilding Corporation (CSSC) became the world's third largest shipbuilding conglomerate last year, behind Korea's Hyundai Heavy Industries and Japan's Imabari Shipbuilding Company. CCSC, which ranked fifth in the world…