New Shipbuilding News

[The following are exerpts and paraphrasing from testimony given by Matthew O. Paxton, President of the Shipbuilders Council of America (SCA), to Congress on the morning of February 26, 2025.]While maritime strength and shipbuilding historically have been a cornerstone of global power, shifting times and geopolitical pressures impact readiness and output. Today, as the world’s geopolitical landscape shifts, so too does the reality of the U.S. shipbuilding and ship repair industry. In testimony before the U.S. House Armed Services Committee, Matthew O.

Bibby Marine has signed a new shipbuilding contract with Spanish shipyard Armon to build its electric Commissioning Service Operation Vessel (eCSOV) for offshore wind industry.The eCSOV will feature a battery system complemented by dual-fuel methanol engines offering alternative green operating solutions.With the capability to operate solely on battery power for a typical full day of operations, the range of the vessel will allow for passage from field to port and return.Integrating…

Each year, as we prepare for the largest U.S. based maritime industry conference in New Orleans, we tend to look back on the state of the industry and initiatives that were announced from the conference that took place the year before. 2023 provided us with plenty to talk about. In September of 2023, while the International Maritime Organization (IMO) and the global shipbuilding industry were fixated on “emissions” and alternative fuels, U.S. Secretary of the Navy Carlos Del Toro held the opening meeting of the Government Shipbuilders Council.

Mitsui O.S.K. Lines (MOL) has announced plans to merge its three subsidiaries focused on maritime technology and engineering to form a professional technical hub focused on maritime industry and decarbonization.In an absorption merger move, MOL will unite MOL Marine & Engineering (MOLMEC), MOL Ocean Expert, and MOL Ship Tech, effective April 1, 2025, with MOLMEC as the surviving company.The new company, as a professional technical group, will offer services ranging from maritime and new shipbuilding consulting…

Austal USA on Tuesday held a groundbreaking ceremony to mark the official start of construction for its newest final assembly facility in Mobile, Ala.The infrastructure expansion, which will be to the south of Austal USA’s current waterfront facility, will include a new assembly building, waterfront improvements, and a new shiplift system. The project is scheduled to be complete and fully operational by summer of 2026.The construction of this new building and waterfront support area continues the expansion Austal USA began in March 2021 with the groundbreaking of the steel panel line.

Seaspan Corporation has taken delivery of Maersk Cleveland, the second of six new SAVER 15,500 TEU series vessels.The ship was delivered from China's Jiangnan Shipyard on November 15.Seaspan, a wholly owned subsidiary of Atlas Corp., announced contracts to build the six ships in March 2021 as part of a raft of new shipbuilding orders.Upon completion, each vessel will enter long-term charters with global liner customers.The series' first vessel, Maersk Charleston, was delivered earlier this year. The series' remaining ships are scheduled for delivery through mid-2024.

HII announced its Newport News Shipbuilding division has begun production at an additional campus in Norfolk, Va. to support the shipyard’s continued progress toward more effective and efficient shipbuilding.The Newport News Shipbuilding Norfolk Campus is located on land leased from Fairlead in the Lambert’s Point area, at a development known as Fairwinds Landing. NNS shipbuilders have worked at the site for several months constructing steel panels that will eventually make up units of Gerald R.

Global energy and commodity group, Mercuria, and Netherlands-based ÈTA Shipping have established a joint venture for the construction of six diesel-electric shortsea general cargo vessels with the option for another 10.The vessels will be built by Taizhou Sanfu Ship Engineering in China and will be owned by Mare Balticum BV, a subsidiary of Mercuria, with ÈTA Shipping acting as a minority shareholder. The maiden voyage of the first vessel is planned for the second quarter of 2025.ÈTA Shipping’s modular design of the ÈTA 6700 vessel involves an electric motor that powers the propeller.

Shipping companies are transforming rust buckets into gold mines in a modern-day alchemy that could fuel already rampant inflation for years to come.The disruption to world trade caused by pandemic lockdowns and a shortage of new cargo vessels has pushed freight rates for ageing containerships to record highs.Cashing in on the boom, shipping firms are locking in long-term leases lasting three to four years, which means consumers could carry on paying the price for the surge in costs until hundreds of new ships on order come into service.Take the Synergy Oakland…

The historic Belfast shipyard Harland & Wolff announced it has secured its first newbuild order since being bought out of administration in 2019.The shipyard, best known for having built the Titanic, is returning to action after being purchased by London-based InfraStrata. The yard said on Wednesday that it was awarded an initial contract worth approximately £8.5 million to build 11 barges for U.K.-based waste management and recycling company Cory, setting in motion the yard's…

British aerospace, defense and security company Babcock has launched a new shipbuilding approach enabling international customers to build and support the company’s Arrowhead 140 frigate (AH140) in-country. Launched at DSEI 2021, Arrowyard enables the construction of the AH140 hull, superstructure and components, final assembly and outfitting and also supports the development of sovereign in-service fleet support capability.Babcock will share its experience in preparing and investing in facilities…

Based in Shanghai, Krzysztof Kozdron – or “KK” as he’s known to many of his Chinese colleagues, clients and friends – is the Managing Director of Schulte Marine Concept (S.M.C.). As S.M.C. passes a milestone in ship construction project management, Kozdron shares his insights on shipbuilding and repair activities throughout Asia.Starting in 1973 to today, Schulte Marine Concept has managed 600 ship construction, repair & conversion projects, starting with its own vessels and evolving into a company today that manages the majority of its projects for third-party clients.

Japanese shipping company NYK Line and shipbuilder Japan Marine United Corporation (JMU) say they plan to introduce a new shipbuilding contract that guarantees propulsion performance in actual sea conditions, factoring in heavy sea states encountered by vessels at sea.Typically, shipbuilding contracts guarantee ship speed based on horsepower in calm sea conditions, without waves. Mutual confirmation then occurs during sea trials before the ship is delivered.However, as any mariner can attest…

Government of India has approved New Shipbuilding Financial Assistance policy for Indian shipyards for shipbuilding contracts up to 2026  to promote shipbuilding in Indian shipyards.Financial assistance is being granted to Indian Shipyards equal to 20% of the lower of “Contract Price” or the “Fair Price” or actual payments received of each vessel built by them for a period of at least 10 years commencing 2016-17. This rate of 20% will be reduced by 3% every three years.Minister of State for Shipping Mansukh Mandaviya informed that only those vessels, which are constructed and delivered within a period of three years from the date of Contract…

South Korean Samsung Heavy Industries (SHI) reported its third-quarter net loss of 583.2 billion won (US$ 503.8 million), compared with a KRW80.30 billion loss in the same quarter a year earlier, staying in the red compared with a year ago.The loss widened sharply in the wake of a cancelled shipbuilding deal. Mitsui Ocean Development & Engineering Co. (MODEC) was recently selected as the floating production, storage and offloading (FPSO) unit supplier for the Barossa Project in Australia. The FPSO part of the project alone is estimated at US$1.5 billion.Earnings were also hurt as Transocean Ltd. (RIG) said in September a pair of its…

South Korean shipbuilder Samsung Heavy Industries (SHI) has announced that it has signed a contract to assist Russian shipyard Zvezda Shipbuilding Complex with the construction of icebreaker LNG carriers for the Arctic LNG 2 project.According to a statement, SHI is selected by Zvezda Shipyard as the partner for the construction of Arctic LNG carriers in Russia thanks to SHI's expertise and technological prowess.The two sides have also confirmed the establishment of a joint venture for cooperation on shuttle tankers where SHI has the highest market share, making it one step closer to the Russian market."A large-scale project for developing…

The marine coatings market demand by 2024 will rise exponentially driven by rapid surge in trade activities worldwide has led to increase demand from the shipbuilding sector.APAC marine coatings market valuation to hit $12Billion by 2024. According to International Marine Organization (IMO), over 90% of global trades are conducted via ships.Meanwhile, the International Transport Forum (ITF) Outlook 2019 estimates that the global freight volumes are likely to increase by 11% by 2050 owing to rapid growth in e-commerce activities.Asia Pacific marine coatings market is expected to witness commendable growth on account of presence of leading shipbuilding industries as well as increasing freight demands from e-commerce giants.China Shipbuilding Industry Corporation…

The Marine Lubricants Market, which was USD 6.14 Billion in 2018, is expected to grow CAGR of 1.9% to reach USD 7.15 Billion by 2026.According to a new report by Reports and Data the key factors driving the market are the increase in world trade, new shipbuilding abilities and dry-docking activities which tend to stimulate the market globally.The predominance of yacht and cruise ships for leisure time is also adding to the growth of the market, it said.The improvement in the shipping industries is growing very swiftly across the world that propels the growth of the marine lubricants market. Sea-borne navigation is an essential source…

Veecraft Marine, a wholly-owned subsidiary of Paramount Maritime Holdings and African-based global aerospace and technology company Paramount Group,  opened its new premises at a ceremony held in Cape Town. Veecraft Marine has manufactured more than 60  maritime platform solutions in various classes since its inception in 2002, totaling more than $130 million of contracts. Leveraging its specialization in the construction of 20 to 30 meter vessels, the company has secured an order book valued at more than $13.5 million.

Prime Minister Justin Trudeau on Wednesday said Canada would spend an estimated C$15.7 billion ($11.7 billion) to renew its coast guard fleet and that it would partner with a new shipyard to complete the project.Two Arctic icebreakers will be among a total of 18 new ships ordered, Trudeau told reporters in Vancouver. They will be built by Irving Shipbuilding in Halifax on the east coast, while 16 multi-purpose vessels will be built by Vancouver Shipyards on the west coast."Our…

Their Majesties King Willem-Alexander and Queen Máxima of the Netherlands called at MV WERFTEN’s Rostock facility in the course of their working visit to Mecklenburg-Vorpommern. They were accompanied by the Dutch Infrastructure Minister Cora van Nieuwenhuizen and the Minister-President of Mecklenburg-Vorpommern Manuela Schwesig. The Dutch royal couple’s working visit serves to cultivate and further intensify relations between the two countries.Hundreds of shipyard employees lined up to give the royal visitors a warm welcome on their arrival at the shipyard.

Chinese shipbuilders Chinese shipbuilders took the top spot worldwide in terms of new orders in the first quarter of the year 2019.A report in Yonhap quoted data compiled by industry tracker Clarkson Research Institute that said the local shipyards garnered new orders totaling 2.58 million compensated gross tons (CGTs), or 35 vessels.South Korean shipbuilders came in second worldwide in terms of new orders in the first quarter of the year, said the report.Korean shipyards won new orders totaling 1.62 million compensated gross tons (CGTs) in the January-March period, equating to 35 ships.Italian firms came in third with 780,000 CGTs, or 10 ships.In the first quarter…

As of 31 December 2018, the two-containership order for Matson is approximately 95% complete. On 31 October 2018, Philly Shipyard delivered the first vessel (Hull 029) in the two-containership order for Matson. Philly Shipyard continued to idle certain operations and impose layoffs due to the lack of new orders after the Matson project.Key Financial Data:Fourth quarter and full year 2018 operating revenues and other income of USD 19.4 million and USD 129.2 million, respectively…