The Volkswagen (VW) Group has sold a 51% stake in marine engineering giant, Everllence, to Boston-based private equity group, Bain Capital. The leveraged buyout generates proceeds of about EUR 7.4bn for the vehicle manufacturing company.

The…

The 2014-built container ship, Seaspan Yangtze, is the first of five dual-fuel retrofits for Hapag-Lloyd and PrimeServ’s 30th alternative fuel project. The refit was carried out at Cosco Shipping Heavy Industry (Shanghai).

The 10,100-TEU vessel,…

The Korea Coast Guard (KCG) has selected mtu engines from the Rolls-Royce subsidiary for two major patrol boat projects over the next 15 years. The German engine firm will supply engines for both the new 50-ton and 500-ton patrol boat projects.

The…

Australian mining giant, Fortescue, and Bocimar, CMB.TECH’s bulk carrier subsidiary, have signed an agreement for the charter of up to 12 ‘ammonia capable’ Newcastlemax bulk carriers.

Up to three of the dual-fuel ammonia vessels are likely to enter…

UK Docks Marine Services has received planning permission for a new boat maintenance shed at Victoria Quay in Gosport, as part of its ongoing expansion of the Weevil Lane site within the former Royal Clarence Yard. The new facility will add around…

Dutch shipbuilder Damen Shipyards Group has signed a framework agreement with Kazakhstan’s Mangystau Region to develop a new shipyard in the Kazakh sector of the Caspian Sea, in a project valued at approximately EUR 100 million. The agreement was…

A study by the Rand Corporation has called into question the US Navy’s capacity for shiprepair in the event of a conflict with China, determining that US shipyards lack sufficient capacity to maintain or regenerate the existing fleet in such a…

Phoenix International has completed an emergency underwater hull repair project in Pascagoula, Mississippi, following damage sustained when the vessel grounded.

The company mobilised a team of commercial divers in early April to assess the vessel…