The Philippine Government is offering tax benefits and duty free importation of capital equipment for investors in its shipbuilding sector, which is one of its preferred industry branches under the Investment Priorities Plan (IPP). As a result, the Philippine department of trade and industry (DTI) has identified nine Japanese shipbuilders as potential source of funding [...]
Algoma Central Corporation, the owner of Canada’s largest domestic fleet of vessels operating on the Great Lakes – St. Lawrence Waterway, is planning to invest $500 million in order to renew its aging fleet. New vessels will feature easier gliding through water and directing more water to the propeller, slippery coatings and rust resistance in [...]
The $8 billion program will not only inject billions into the local economy, but it will create an average of 4000 jobs over the next 8-years. In addition, the Federal Government has plans for a further 17 vessels which should fall under the non-combat package. Although planning will begin immediately, construction on the new vessels [...]
![India to Invest USD 60 Billion in Fleet Modernization]()
Modernization of national navy conducted by Indian defense ministry will cost defense budget INR 3 trillion ($60.1 bln) in the nearest few years, reports TNN. This sum will be spent for procurement of surface ships, submarines, deck-based fighters, and coast-based patrol aircraft. In particular, the mentioned sum includes repair and upgrade of Russian aircraft-carrying [...]
![Russian Government to Invest Around USD 300 Million in Sevmash and Zvezdochka Shipyards]()
In 2012-2014 Russian government plans to bring RUR 9.8 bln in authorized capital of JSC United Shipbuilding Corporation. Substantial part of this sum will be appropriated to increase capital stocks of Severodvinsk shipyards Sevmash and Zvezdochka. As was said in the draft federal law “On Federal Budget 2012 and planning period of 2013-2014″ released on [...]
![Hyundai Shows Interest to Invest in Shipbuilding Sector in Sri Lanka]()
South Korean firms like Hyundai and LG are interested in exploring investements in shipbuilding and electronics in Sri Lanka, the island’s Read more Source: lankabusinessonline, September 15, 2011; Image:hhi
![U.S. Navy Continues to Invest in Its Destroyer and Cruiser Fleets]()
The U.S. Navy continues to invest in its destroyer and cruiser fleets, awarding $265.4 million in contracts and contract modifications … By Michael Fabey (aviationweek) Source: aviationweek, August 10, 2011;
![Singapore to Invest in Shipbuilding and Port Infrastructure in Ukraine]()
Ukraine considers the development of its relations with Singapore as a priority direction in its foreign policy in the Asia-Pacific region… (kyivpost) Source: kyivpost, July 27, 2011;
![India: ABG Shipyard to Invest USD 300 Million into Owning and Operating Ships]()
Indian shipbuilder ABG Shipyard is planning to invest up to $300m to venture into owning and operating ships, the company’s senior official said. ABG Shipyard has started taking orders to build ships from its own ship operating affiliates, and established four dedicated companies – three in Singapore and one in Norway – in the past [...]
![Brussels: ECC Plans to Invest USD 15 Billion in Acquisition of 23 New Cruise Ships]()
The European cruise industry was commended at the European Cruise Council’s (ECC) fifth annual conference by Siim Kallas , EU Vice-President and Transport Commissioner, as a key driver in Europe’s economic recovery with high safety and environmental standards. In his address to the conference, Mr Kallas said: “The European cruise industry sets an example for [...]
