China Shipping (Group) Ltd, the country’s second largest sea transport operator, will buy 39 ships this year at a cost of 8 billion yuan (966 million US dollars) to meet surging demand, China Daily reported. The company’s plan is part of its strategy to be running one of the world’s largest three fl
South Korea on Tuesday claimed victory in a long-running shipbuilding dispute with the European Union, after the World Trade Organisation largely rejected Brussels’ complaint that Seoul was illegally subsidising the industry.
Great Eastern Shipping Company Ltd has on Wednesday announced that the company has taken delivery of its new building Suezmax tanker (Ice Class 1 B notation), named ‘Jag Lok’. The double hull vessel of about 159,000 dwt is built at Hyundai Samho Heavy Industries, S. Korea. The vessel was contracted
A READING-based BG Group manager has steered a new course after signing on to go all the way in the Global Challenge Yacht Race. Mark Setrem, a business relationship manager for the company based at Thames Valley Park, jumped at the chance to be part of the crew on BG Spirit. Globalchallenge2004.com
The U.S. Army Corps of Engineers has temporarily paused dredging in the Wicomico River for fish spawning. The Corps began the federally-funded $700,000 project in January.Monte Franklin, spokesman for the Corps’ Baltimore District office, said there has been no dredging in the upper part of the rive
One new cutter suction dredger (CSD) specifically designed to operate in shallow water is scheduled to arrive in Doha during March 2005. QDC additionally plans to modify its largest CSD, the ‘Al Mahaar’, to enable both deep and shallow water operations. When completed, QDC will own the largest capac
GULFPORT – Edison Chouest Offshore, an offshore vessel service company, hopes within two weeks to exercise an option to buy the old Halter Marine property. Bill Hessell, interim director of the Harrison County Development Commission, said Monday that the company plans to open a subsidiary operation,
Caspi Cruises announced today that it had obtained an exclusive franchise to market the Dream Princess cruise ship. The company said that the ship would be the largest and most luxurious cruise ship ever to operate in Israel.
Aker Finnyards has signed a letter of intent with Royal Caribbean Cruises Ltd. for the construction of a third in a series of cruise ships to be built at the company’s Turku shipyard. The value of the order will be about EUR 580 million.
Maximus, the new 100ft supermaxi from New Zealand officially entered Antigua Sailing Week 2005 on February 28 and will be shipped from New Zealand to Antigua on 18 March. With Maximus’ attendance, the first Round Island Race race for the Yachting World Trophy looks set to be a fast one.
A new player is set to join the America’s Cup fray for 2007. A Chinese investor has launched a pioneering $64 million bid for the Auld Mug. China Team is joining forces with the former French America’s Cup team Le Defi to take part in the 2007 event.
Peninsular & Oriental Steam Navigation Co, the UK’s largest ferry and port operator, posted a second-half loss because of costs to close ferry routes. The shares fell after the company said the disruption to ferry schedules at Calais, France following a bridge collapse, may hurt profit this year.
Operating at 93 per cent of its maximum capacity and unable to handle the today’s ultra-large container ships, the Panama Canal must be expanded, said industry executives who gathered recently in Panama City.
The World Trade Organisation on Monday gave South Korea three months to halt certain shipbuilding subsidies following a complaint by the European Union against the world’s leading shipbuilding nation. The WTO’s disputes settlement panel said it had decided to “uphold the EU’s claim that Korea has pr
