BW Maritime and Samsung Heavy Industries signed a ship-building contract on Friday for BW’s first Liquefied Natural Gas Floating Storage Regasification Unit (LNG-FSRU). When delivered in 2015, this vessel and floating terminal will be able to receive and convert LNG into its gaseous form for offloading via pipelines, to gas facilities on-shore.
Bermuda-based Golar LNG, a competitor of BW Maritime, reported strong demand for FSRUs last year noting over two dozen new projects were currently being developed, particularly in the Middle East. Golar currently has two FRSU’s on order, due for delivery in 2013 and 2014 respectively. In addition, Golar has 11 LNG carriers under construction, all due to be delivered in the next two years.
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(Bloomberg) — The biggest labor union at South Africa’s state-owned port and rail company are starting final talks with a third-party arbitrator to resolve a wage dispute and stave off...
Russia has announced a RUB 500bn ($6bn) plan to revitalize domestic shipbuilding. The National Strategy for the Development of the Shipbuilding Industry outlines an extensive program to add 1,637 merchant vessels to its fleet by 2036.
Italian shipbuilding giant Fincantieri S.p.A. reported unprecedented growth in the first quarter of 2025, with EBITDA surging 54% to €154 million and total backlog reaching a record €57.6 billion. The...
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