Shipbuilder VARD said Friday it had secured a new contract to design and build one stern trawler for Nergård Havfiske, the fishing arm of the Nergård group in Norway. The contract value is in excess of NOK 500 million (~$57,35 million)."The…
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Bumi Armada Winds Up Dormant Subsidiaries
Bumi Armada, a Malaysian offshore service firm and FPSO provider, has decided to wind up its two dormant subsidiaries.The company said that its subsidiaries Offshore Marine Ventures Sdn Bhd and Bumi Armada Ship Management Sdn Bhd, had approved…
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SMS Group investment pays off with “Record Breaking” 2021
As COVID continues to create business hurdles globally, the SMS Group, based within the Port of Southampton in the UK, announced that it has recorded its busiest year in company history. Traditionally a ship repairer, SMS Group invested in a team of in...
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EU Blocks Korean Shipbuilding Merger
Hyundai Heavy Industries' proposed takeover of rival Daewoo Shipbuilding & Marine Engineering Co Ltd to create the world's biggest shipbuilder was hit with an EU veto on Thursday on concerns that the deal would hurt competition.Hyundai, one of the larg...
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China 2021 Iron Ore Imports Retreat from Record on Steel Curbs
China's iron ore imports dropped in 2021, down 4.3% from the previous year's record annual high, as steel production curbs imposed to combat pollution dented demand and pulled prices of the key steelmaking material off historical highs.The world's…
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Is Baltic Sea Special Area for Passenger Ships Really Special?
The persistent eutrophication (being too rich in nutrients) of the Baltic Sea prompted the IMO’s Baltic Member States to tackle shipping’s
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Course Correction for DDG 1000, Navy Will Replace Main Battery for Guided Missile Destroyer
The U.S. Navy’s controversial USS Zumwalt (DDG 1000) class of guided missile destroyers raises the legitimate question of whether a ship is too transformational, or not transformational enough.While the Navy Fact File states that DDG 1000 is…
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Singapore Remains World’s Top Maritime Hub
Singapore has held onto its spot atop the list of the world's best maritime cities, according to a recent report from classification society DNV and Menon Economics.The 2022 edition of the Leading Maritime Cities (LMC) report launched Thursday…
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McLean Contracting Company Acquires Shugart Manufacturing
Maryland-headquartered heavy civil and marine contractor McLean Contracting Company announced it has acquired South Carolina-based Shugart Manufacturing, designer and builder of sectional barges, barge propulsion units and accessories, screeds…
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Dutch Windship Company Opens Funding Round
EcoClipper, a shipping company which has developed a wind-driven, emission-free cargo ship, has started to raise capital in cooperation with blockchain partner Bondex, to fit out a sustainable fleet.Founded in 2018, EcoClipper plans to launch…
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