Canadian Shipyard Gets Government Finance for Naval Ship Construction

CBC News – Nova Scotia
Sunday, April 01, 2012

Irving gets $304 million assistance for next-generation naval ship construction from Nova Scotia authority

Irving Shipbuilding Inc. is getting $304 million from the Nova Scotia government to help prepare for the construction of the Royal Canadian Navy's next fleet of vessels, according to a CBC news report.

The government's assistance package, includes a forgivable loan worth up to $260 million and a repayable loan of $44 million for human resources, technological and industrial development.

The company said it needed provincial support to be the winning bidder for the federal $25-billion shipbuilding contract to build 21 combat vessels.

The contract is expected to maintain a steady flow of work at the Halifax Shipyard over the next 20 to 30 years.

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

Shipbuilding

KR Overhauls Hull Structure Software

IACS member classification society the Korean Register (KR) informs it has overhauled its SeaTrust-HullScan software package, a ship design support solution that analyzes and appraises a vessel’s.

Wärtsilä Propulsion for New Fishing Vessel

A new fishing vessel being built by Simek AS in Norway on behalf of the U.K. operator Antares (Whalsay) Fishing Company Ltd, will feature an integrated Wärtsilä

Dry Bulk Market Crisis: Opportunity or Threat?

The shipping industry is experiencing the biggest dry bulk market recession since the 1980s, as uncertain global economic outlook and increased imbalance between

Navy

As First Victims Mourned, Italian Navy Searches On

Italy held a funeral service on Tuesday for 13 migrants who died in the worst shipwreck in the Mediterranean in recent history, while the navy continued its search for other victims of the disaster.

Migrant Sailboat Sinks in Aegean, 17 Missing

A sailboat carrying migrants sank in in the Aegean sea between Turkey and Greece on Tuesday and at least 17 people were missing, Greek authorities said. Greece's

Russian Submarines in Alaska?

Russia is expected to finish the construction of a submarine base on the Kamchatka Peninsula by the end of October.   "Upgrades to the Russian Navy’s ballistic

Finance

Greece Port Operations Update

An update on Greece’s port operations and local conditions was issued today by maritime services provider Inchcape Shipping Services (ISS).   According to ISS,

Container Shipping Lucky to Break Even in 2015

A toxic mixture of overcapacity, weak demand and aggressive commercial pricing is threatening liner shipping industry profitability for the rest of 2015, according

Dry Bulk Market Crisis: Opportunity or Threat?

The shipping industry is experiencing the biggest dry bulk market recession since the 1980s, as uncertain global economic outlook and increased imbalance between

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar 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: 0.1389 sec (7 req/sec)