Asia to Spend Over $108b for Maritime Security

Tuesday, May 15, 2007
According to CNA, Asian countries are expected to spend about $108b beefing up their navies over the next ten years, placing the region ahead of the United States and Britain. But industry watchers at the 6th International Maritime Defence Exhibition and Conference (IMDEX Asia 2007) said rather than leading to an arms race, the increase in spending will be an overall boost to regional maritime security.

Naval industries are set to benefit from the buying spree. Analysts at IMDEX Asia agreed the naval build-up would do much for regional maritime security. Frigates, like the ones recently purchased by the Singapore Navy, account for a quarter of the purchases, and will help Asian countries plug the existing gap in capability shortfalls. Analysts said even with countries like China, India and Japan leading the buying spree, a regional arms race is unlikely. Source: CNA

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Barge Master Launches Fit-for-Purpose Gangway

Press release - Barge Master has announced the official launch of a motion compensated gangway after building a track record in motion compensated lifting. ‘The

Norway's Offshore Shipping Sector Faces Bleak Year

Norwegian companies that provide supply ships and drilling rigs to the global oil industry face a bleak year ahead as contracts disappear and financing options

Maersk Venturer to Drill for Total

Maersk Drilling has been awarded a contract for the drillship Maersk Venturer with oil major Total. The contract covers one exploration well (estimated duration

Maritime Security

GOST Debuts New Technology at Workboat

GOST (Global Ocean Security Technologies), celebrating its 10th year as a world leader in marine security, tracking, monitoring and video surveillance systems,

South China Sea Hearing in Court

The Philippines has sought to debunk China's claims to disputed islands in the South China Sea, court officials said Monday (November 30) as an international tribunal wrapped up a five-day hearing,

Trucks Carrying Turkish Exports Blocked at Russian Border

Around 1,250 trucks carrying Turkish exports have been blocked from entering Russia and are stranded at border posts awaiting clearance, a senior shipping industry

Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Salvage Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0936 sec (11 req/sec)