Nam Cheong inks DNV deal to class 10 vessels Miri-based Nam Cheong Dockyard is moving up the value chain and starting to have more non-Malaysian offshore companies as clients as it increases its proficiency through gaining wider accreditation from class societies such as Det Norske Veritas (DNV).
Singamas sees sales, margins dipping Singamas Container Holdings, the world's No 2 maker of shipping boxes, warned that sales and gross margins may dip in the second half because of a weakening global economy.
Maersk sees firm new ship prices in next 12-18 months Prices of new sea vessels may stay 'firm' for the next 12 to 18 months because raw materials for shipbuilding, including steel, are expensive to procure while demand remains strong, a ship broker said.
Boustead Heavy outsources hull contract worth RM62m
Spain picks new law firm in Prestige case SPAIN drops Holland & Knight in favour of Squire, Sanders & Dempsey to continue its $1bn lawsuit against American Bureau of Shipping.
Law firms court Spain for $1bn Prestige lawsuit against ABS
Slack demand wipes out 50% of BDI value THE Baltic Dry Index has lost more than 50% of its value in just under four months, falling to 5,874 today.
Grimaldi inks loan to fund motorways of sea ambitions €81m loan from the European Investment Bank aimed at expanding its presence on the motorways of the sea.
Hurricane Ike threat intensifies HURRICANE Ike has strengthened into an "extremely dangerous" Category 4 cyclone, with Miami potentially in its path next week
Guilty plea in $6Bn bribery case A TEXAS engineer has pleaded guilty to bribing Nigerian officials who were instrumental in awarding $6Bn in LNG facility construction contracts
Court ruling coming on port trucks plan A U.S. District Court judge will hear arguments for temporary restraining order blocking trucks plan on Sept. 8.
Egypt ship seized Reports indicate Somali pirates have hijacked another vessel and are taking it to Eyl.
Hanna charging North Carolina ports are expected to close early Friday as a Tropical Storm heads for the US East Coast.
Another blow A second analyst issues a wide bulker stock downgrade as Baltic Dry Index is expected to fall further.
System 'strained' Infrastructure improvements are needed to keep pace with capacity needs in US maritime transport system, new strategy says.
Surprising drop Container traffic from China to the US sliced by 21% in June as consumers stop spending, figures show.
Fleet makeover Holland America Line adds $200m to its upgrade program as five ships head to dry-docks for expansion.
Brazil inks fund Lower house of congress sends to the president a bill that would create a $584m shipbuilding guarantee fund.
Falken leaves nest Svein Hoel-led Troms Offshore sells 2001-built PSV to Mexican owner in $30m plus move.
A&B NYSE-bound Hawaii-based Matson Navigation parent is taking its stock listing from Times Square to Wall Street.
Mississippi open In the wake of Hurricane Gustav, the entire river is open to vessel traffic, with some draft restrictions. Other gulf waterways reopen.
Ospraie sells out? New York hedge fund said to be selling out of Stolt-Nielsen following closure for flagship fund.
Polish pact Polish treasury minister Grad outlines plan to fight EU aid repayment crisis: give shipyards more state cash.
Bubbling up Trouble brewing as Japanese World War II tanker begins releasing oil in Micronesian lagoon sixty years on.
Hyproc gets gas Hyproc, shipping arm of Algeria's Sonatrach, signs up for a pair of LPG units at HHI.
PYI buys Chinese ports player lining up investment in Yangtze operator Yichang Port Group to take 51% stake.
Gamble backfires Viking misses major pay day as waiting game for Transocean Rather backfires, brokers say.
More for Axel Norwegian shipowner strengthens his hold on Camillo Eitzen by taking additional $3m slice.
Dry to thrive Hellenic Carriers CEO Fotini Karamanlis bullish on prospects for dry-bulk shipping.
FSL to tap US? Singapore-listed shipping trust may hit nascent OTCQX after filing registration with SEC.
Kystlink cuts Norwegian ferry player shaking up route network to compete more effectively with Color Line.
Asian stocks stung Cosco, Mitsui OSK and CSDC among the big name fallers as shipping shares falter in Singapore, Hong Kong and Tokyo.
Russian transfer North-Western Shipping takes over management of 37 of sister owner Volgaflot's ships and tugs.
Cadet conundrum Indian owners facing fines if domestic trainees do not make up 15% of crews, as part of tonnage tax regime.
Emarat double Expanding Dubai owner back at Hanjin's Philippines yard for more tankers, this time two VLCCs.
Jumper saved Man who leapt from BC Ferries vessel in Canada plucked from water by passing boat.
Finnish shipping policy blow to the Swedish-flagged fleet The new Finnish shipping policy proposal that includes a revised tonnage tax system has been welcomed by Finland's shipowners, and if the policy is adopted, this could have serious consequenses for the Swedish-flagged fleet. "The proposal looks very attarctive ...
Color Line sells Prinsesse Ragnhild Color Line sells the ferry M/S Prinsesse Ragnhild, built in 1981, for EUR 23 million to the American shipping company Celebration Cruise Holdings. The ship will be delivered before October 1. With this agreement, Color Line has sold six ...
Tanker near damage in the Åland Sea The Maltaregistered chemical tanker Havi Trader was minutes from land, when a military serviceman supervising the traffic in the area noticed that the vessel deviated from its ordinary course. After repeated calls the martime surveillance at the Muskö military base ...
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