New pressure for Davie Yards to come out of bankruptcy

Bankrupt Quebec shipbuilder Davie Yards has gotten another order from the Québec Superior Court extending the stay of proceedings against it under Canada's Companies' Creditors Arrangement Act ("CCAA") until March 10, 2011. [Read More] Source: Marine ...

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Vattenfall engages record vessel for offshore installation

Vattenfall’s German offshore project DanTysk has signed a contract on a vessel for the transportation and installation of 80 wind turbines. The installation vessel, Pacific Orca, is being built by Samsung Heavy Industries in South Korea to be delivered in 2012. [Read...

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Somali pirates hijack U.S. yacht

Somali pirates hijacked a yacht with four Americans on board Friday afternoon in the Indian Ocean, officials said. Omar Jamal, first secretary at the Somali mission, identified the yacht as the S/V Quest. [Read More] Source: ms...

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Egypt to let Iranian warships through Suez Canal

Egypt has agreed to allow two Iranian warships to cross through the Suez Canal in a move that puts the country's new military regime in a prickly position with its Israeli neighbor. [Read More] Source: ...

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Boxship Godafoss aground, pollution threatens Sweden's west coast

Oil leaking from a vessel which ran aground off Norway on Thursday evening is threatening the Kosterhavet national park off the west coast of Sweden. [Read More] Source: Sea N...

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China Ship export records $40.3bn in 2010

China ship exports hit a record of $40.3bn in 2010, increase 42.07% year on year. The ship imports hit $1.68bn, decrease 32.39% against a year ealier, according to the statistics from Customs. [Read More] Source: Seatrade A...

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Container Rate Index Dips for First Time in Year

Spot rates on a key trans-Pacific container route fell 2.4 percent last week from a year earlier – the first year-to-year drop since January 2010, Drewry Shipping Consultants reported. [Read More] Source: Maritime ...

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Marine insurers welcome new ICS position on arming ships

The International Union of Marine Insurance has welcomed the announcement by the International Chamber of Shipping that it is now taking a more neutral position on the use of private armed security personnel on board ships to protect them from pirates. [Read More] Source: Marine ...

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Dry Bulk Fleet expansion accelerates

The expansion of the dry bulk fleet in January was at an annual rate above 100 Mdwt for the year. There remains a scheduled 127 Mdwt still to be delivered but of course slippage and scrappings will intervene to reduce the net total. Nonetheless the scrapping of five Capes in [Read More] Source: Investor...

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Daewoo wins $2b Maersk order to build 10 container vessels

Daewoo Shipbuilding and Marine Engineering has won a $2 billion (Dh7.34 billion) order from AP Moeller-Maersk to build 10 of the world's biggest type of container ships, a source said yesterday, prompting a jump in the Korean firm's shares. [Read More] Source:...

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Liebherr extends its range of heavy lift offshore cranes

The heavy lift offshore crane, type CAL 64000 - 1500 Litronic®, specially developed by Liebherr for the company BELUGA HOCHTIEF Offshore, is to be installed from 2012 on the Innovation, a special jack-up vessel being built to quicken the assembly of offshore wind...

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China Shipbuilding Plans 17.5B Yuan Private Placement

China Shipbuilding Industry (601989) plans to raise 17.46 billion yuan through a private placement of 2.52 billion shares to seven designated investors at 6.93 yuan per share, reports 163.com, citing a company filing. [Read More] Source: China ...

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Vinashin Plans Business Review After Debt Payment Miss

Vietnam Shipbuilding Industry Group, the state-run company known as Vinashin, plans to present a KPMG LLP report on its business to creditors by mid-year after it missed a payment on a dollar-denominated bank loan. [Read More]Source: Bloomb...

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Statoil Drills Duster at Snohvit Field, Barents Sea-Norway

Statoil Petroleum AS, operator of production licence 488, has completed the drilling of wildcat well 7119/12-4. The well was drilled about 145 kilometres northwest of Hammerfest and about 40 kilometres south of the 7120/8-1 Askeladd gas deposit, which is part...

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MIO to Supply Three Vessels for Cape Lambert Port Expansion(Australia)

Miclyn Express Offshore Limited’s (“MIO”) Australian Joint Venture, Samson Express Offshore (“Samson”), has secured a contract for three vessels with John Holland Pty Ltd in relation to port expansion at Cape Lambert in the Pilbara region of Western Australia....

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