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Daewoo Heavy Wins $140M Greek Order

Daewoo Heavy Industries Co. Ltd. reportedly won a $140 million order from Greece's Kristen Navigation Inc. to build two very large crude oil carriers.

Maersk Orders 9 Tankers from Samsung Heavy Industries

Maersk Tankers, a unit of Danish conglomerate A.P. Moller-Maersk, has placed a $300 million order for nine medium-range tankers from Samsung Heavy Industries' Ningbo shipyard in China. The nine vessels, whose flag states have yet to be determined, will join the Maersk Tankers fleet during 2017 and 2018, it said on Friday. Reporting by Ole Mikkelsen

Fincantieri Half-year 2013 Growth Due to Vard Acquisition

Photo courtesy of Fincantieri

The Finacantieri Group reports being in a phase of strong growth thanks to the acquisition of Vard, & triples its first-half 2013 operating result compared to last year. In summary: • Operating result (EBIT) at euro 101 million • EBITDA at euro 137 million with a margin of 7.1% • Revenues at euro 1,934 million • Net cash of euro 183 million • Order portfolio at euro 10,889 million • New order intake of euro 1,843 million

Cargotec Receives Order for Cargo Cranes

 Cargotec receives EUR 25 million order for MacGregor cargo handling cranes from China.   Cargotec has confirmed a contract worth around EUR 25 million from a Chinese shipyard to deliver 104 MacGregor cargo handling cranes for 26 Bulk carriers. The cranes will be delivered during 2012 and 2013, majority in 2013. The order is booked in the third quarter of 2011. “The ordered cranes are MacGregor GLB cranes and they offer an efficient and reliable cargo handling solutions

HHI Set To Put Big Dent in Offshore Market

Hyundai Heavy Industries (HHI) is reportedly set to win up to $1.3 billion worth of orders for offshore projects by end-June, according to published reports. The roster of anticipated contracts includes a pending deal for an FPSO in West Africa, an order for a semi-submersible to be deployed in the Sakhalin project, and an order to set up a jack-up production platform in the Caspian Sea, Reuters reported. In 2001, Hyundai Heavy received in excess of $2 billion in offshore project orders

Hyundai Heavy to Build World’s Largest Containerships

hyundai heavy logo.jpg

Hyundai Heavy Industries (HHI) announced the Company won a $700 million order for five 18,400 TEU containerships from China Shipping Container Lines (Hong Kong) Co., Ltd. The world’s largest containerships will feature an electronically-controlled main engine and two EcoBallast seawater treatment system. The electronically-controlled main engine will maximize fuel efficiency, and reduce noise, vibrations, and carbon emissions by automatically controlling fuel consumption to suit

COSCO Win Jack-up Drill Rig Contract from Talland

COSCO Corp. secures US$170-million order from Talland Navigation Corp. Ltd. for a jack-up drilling rig. COSCO (Dalian) Shipyard Co. Ltd., a subsidiary of COSCO Shipyard Group Co. Ltd., has secured a US$170-million contract from Talland Navigation Limited Corporation, a subsidiary of Foresight Limited (London) to build a jack up rig based on the LeTourneau Super 116E Class design. The new rig will be built to ABS classification, with notation A1

KVH Q4 2009 Results

KVH Industries, Inc., (NASDAQ:KVHI) reported financial results for the fourth quarter ended December 31, 2009. Revenue for the fourth quarter of 2009 was $26.3 million, up 24% from the quarter ended December 31, 2008. Net income for the period was $1.8 million, or $0.13 per diluted share. During the same period last year the company reported net income of $0.3 million or $0.02 per diluted share. For the year ended December 31, 2009, revenue was $89.1 million, up 8% compared to $82

ABB Wins Third Ichthys FPSO Major Contract

ABB appointed main electrical contractor (MEC) for a new floating production, storage and offloading (FPSO) vessel at the Ichthys oil & gas field in the Timor Sea off Western Australia. The order is worth $30 million and was awarded by the engineering, procurement and construction (EPC) contractor for the FPSO, Daewoo Shipbuilding & Marine Engineering. This is the third major contract that ABB has been awarded for the Ichthys oil and gas project

ABB to Supply Key Equipment for Russian Icebreaker

Depicted: The new icebreaker vessel under construction for Russia’s state shipping company Rosmorport FSUE.

ABB wins $35 million order for next generation icebreaker in Russia’s Arctic. Integrated propulsion and electrical systems to maximize performance and energy efficiency of icebreaker expected to operate in 2 meters of ice at minus 35 degrees Celsius Zurich, Switzerland, October 1, 2012 – ABB, the leading power and automation technology group, recently won an order worth $35 million from the Baltic Shipyard Ltd

TRIYARDS Reports Strong 4QFY15

Courtesy TRIYARDS Holdings Limited

  TRIYARDS Holdings Limited (TRIYARDS or the Group) reported a strong finish for the financial year ended 31 August 2015 (FY15) with a 59% year-on-year jump in net attributable profit (PATMI) to US$8.4 million in the fourth quarter, driven mainly by liftboat construction.

China COSCO Orders 11 New Boxships

China COSCO has ordered 11 container ships from four Chinese shipbuilders in a $1.51 billion order that will propel the country's largest shipping line into the big league of giant vessel owners. The ships, which will have the capacity to carry up to 19,000 20-foot containers (TEU)

Mainstay Marine Looks Ahead Following Rebrand

Stewart Graves, Managing Director of Mainstay Marine Solutions outside the companys build hall on Pembroke Dock (Photo: Mainstay Marine Solutions)

South Wales maritime engineering company Mustang Marine has rebranded as Mainstay Marine Solutions.   The Pembroke Dock based workboat, marine energy device and waterside infrastructure specialist has adopted a new name and corporate image following its first year under new ownership.

Rolls-Royce Bags £12 mi Order from Myklebusthaug Management


  Rolls-Royce has won a £12 million order to provide design, integrated power and propulsion systems and equipment for a highly advanced multipurpose service vessel for the Norwegian ship owner Myklebusthaug Management to be built at the Beşiktaş Shipyard in Turkey.

Samsung Heavy to Tankers for Gazprom

South Korean shipbuilder Samsung Heavy Industries plans to build three Arctic tankers for Russian oil company Gazprom Neft, which has been targeted by Western sanctions, sources familiar with the deal said. The sanctions imposed on Moscow over its role in the crisis in Ukraine have complicated

Rolls-Royce Secures Island Offshore Contract

VARD shipyard in Brevik

Rolls-Royce has won a $11.3 million order to provide design, integrated power and propulsion systems and equipment for an offshore service vessel for Norwegian ship owner Island Offshore. The offshore service vessel will be built at VARD shipyard in Brevik

GPE Secures MARS Tanker Power Contract

Jake Moir

Gresham Power Electronics (GPE), the Salisbury-based defence and commercial power conversion specialist, has secured a £1.18 million order to supply uninterruptible power supply (UPS) systems to be fitted to Military Afloat Reach and Sustainability (MARS) tankers currently being built by

Boskalis Post Record H1 2014 Profits

Boskalis dredger: Image courtesy of the owners

Despite what it describes as 'challenging market conditions' Royal Boskalis Westminster N.V. posted record profits in the first half year ended 30, June 2014. Highlights first half 2014 -  Revenue exceeds EUR 1.5 billion -  EBITDA: EUR 466 million

South Korean Shipyard to Build Two More LPG Carriers

Gas Carrier Foredeck: File photo

Leading South Korean shipbuilder Hyundai Mipo Dockyard Co., has won a US$102-million order from a Singaporean company to build two LPG carriers, according to Yonhap News Agency. Hyundai Mipo, a subsidiary of Hyundai Heavy Industries Co., said it will start building the vessels from March 2016

Samsung Wins $410 mln LNG Order

Samsung Heavy Industries Co said on Friday it won a 419.5 billion won ($410 million) order to build two liquefied natural gas carriers for an unidentified European client. The South Korean firm plans to deliver the vessels by end-August 2017, it said in a filing to the stock exchange

China's Dalian Shipyard to Build Deepwater Jack-Up

A LeTourneau jack-up: File photo

COSCO Corporation inform that its subsidiary Dalian Shipyard has been contracted to build a jack-up rig based on the LeTourneau Super 116E Class design. The US$184-million order has been placed by Derwent Ocean Limited S.A, part of Foresight Group.

OSC Plans Fleet Expansion through 2018

Photo: OSC

State-owned Oman Shipping Company SAOC (OSC) is projecting to expand its current fleet of 43 ships to 50 by 2018, the Oman Daily Observer reported. According to the report, the expansion is in line with a ramp-up in hydrocarbon, petrochemical and industrial investment throughout Oman.

Boskalis Posts Record Net Profit in 2013

Image courtesy of Boskalis

Royal Boskalis Westminster N.V. (Boskalis) reports an increased revenue of EUR 3.5 billion in 2013 (2012: EUR 3.1 billion). Net profit rose sharply to EUR 366 million (2012: EUR 249 million), partly due to a number of extraordinary items amounting to EUR 97 million post tax

STX Offshore Wins $388M Order for 8 Tankers

Reuters - South Korea's STX Offshore & Shipbuilding Co Ltd said on Monday it won a 413.8-billion won ($387.63 million) order to build eight tankers from from Navig8 Product Tankers Inc. The South Korean shipbuilder said in a statement the contract includes an option for four more tankers

Cavotec Wins Largest MoorMaster Order to Date


Cavotec has been awarded a €10 million order for MoorMaster automated mooring units at a container port to be disclosed later in a joint press release with the customer. It is the largest single order to date for the technology, and further underlines the growing demand for Cavotec's

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