The Mukesh Ambani-owned Reliance Group is set to make a splash in shipbuilding and dredging with two separate companies. Sources said the petroleum-to-retail giant is expected to invest around $1 billion each in two companies and has begun talks with international majors for a strategic tie-up for t
On the first day of the Cannes International Boat Show, the Azimut-Benetti Group’s traditional press conference was held to present the main data for the year just ended and the development plans for the coming years. In detail, the year closes with a production value in excess of € 800 million, whi
ANIMAL rights activists yesterday claimed responsibility for the sinking of a whaling ship in a Norwegian port last month. Police said they did not know how the Willassen Senior went down in Svolvaer, north Norway, on 31 August, but suggested it might have been due to an open valve in the machine ro
FIVE persons are feared dead following a mishap at the Tin-Can Island Port area when a merchant ship rammed into a small boat crushing it into bits. The vessel is owned by an indigenous shipping company while the owners of the boat and the identity of the victims are yet to be ascertained.
Atlas Copco announced today it has modernized and concentrated manufacturing at its two production sites in India, creating local centers of competence for compressor and construction and mining technology. The Group will also build a new plant for road construction equipment.
Authorities believe a giant blue whale found floating lifeless near Terminal Island may have been dragged into port unknowingly by a cargo ship. The 72-foot behemoth was discovered by the U.S. Coast Guard early Saturday in Long Beach harbor’s West Basin, near the SeaLaunch marine terminal.
GE Shipping has signed a contact to sell its 1986 built Aframax tanker ‘Jag Leher’. This Korean built ship of 107,592 dwt was acquired in November 2003. The ship is scheduled for delivery to buyers in Q3 FY 2007-08.
iPod integration has opened up in a new market – yachts. Three new Sunseeker motor yachts being launched at this month’s Southampton boat show feature iPod integration as standard.
The Chinese deep-water port at Yangshan, near Shanghai, provides ample evidence North America is about to be hit by a tsunami of containers from China. Yangshan is a reclaimed island the size of 470 soccer fields that lies in the East China Sea Port, offshore from Shanghai.
Samsung Heavy Industries has developed a new shipbuilding system, called the ‘tera-block’ method, that allows the company to assemble a vessel from just two large ship blocks. Comparing a ship with a house, ship blocks are the equivalent of bricks. As bricks are laid to build a house, ship blocks, w
Doha � Qatargas yesterday announced the naming of the Q-Flex LNG vessel ‘Tembek’ at a special ceremony held at Samsung Heavy Industries shipbuilding yard in Geoje Island, South Korea. The Tembek will be used to ship LNG produced by Qatargas 2’s Train 4 to customers in Europe. It is one of 14 ships t
D Datar, CFO, ABG Shipyard said that if the scheme is approved by the High Court, they will get more than 51% stake in Western India Shipyard. He, however, added that they will not be required to make an open offer for Western India Shipyard.
Kalmar, the business area providing container handling solutions within Cargotec, has received an order for a further 10 E-One rubber-tyred gantry (RTG) cranes from Saigon Newport Company (SNP) in Vietnam. The RTGs will be delivered during fall 2008 to SNP’s Tan Cang – Cai Mep International Containe
Hornbeck Offshore Services, Inc. (NYSE: HOS) announced today that the class action lawsuit previously filed against the Company and certain of its senior executives, relating to disclosures under the securities laws, has been voluntarily dismissed by the lead plaintiffs without any payment by the Co
