South & Central Asia
CSSC, Wärtsilä Form E&A Joint Venture
China’s shipbuilding conglomerate China State Shipbuilding Corporation (CSSC) and Finnish engineering company Wärtsilä have signed a deal to form a joint venture company which will focus on the growing Chinese electrical & automation (E&A) market in the segment of high-tech ship applications. The ne
United Ocean Disposes of Panamax Bulker
Japanese shipping company United Ocean Group has reached an agreement to sell its Panamax bulk carrier United Prestige for a price of USD 21.2 million, according to VesselsValue. The 81,900 dwt bulker, which has a market value of USD 20.4 million, was purchased by Greece-based shipowner Alassia News
Amec Foster Wheeler scores Shell deal
British multinational consultancy and engineering company Amec Foster Wheeler said it has won a five-year deal with a unit of the Hague-based LNG giant Shell. Under the enterprise framework agreement, Amec Foster Wheeler will provide services for Shell Global Solutions International’s downstream pro
Golar LNG, CSDC Sign Sale, Leaseback Deal
Owner and operator of LNG carriers Golar LNG has entered into a sale and leaseback agreement for the 2014-built Golar Crystal with Hong Kong-based Cosco Shipping Development Co (CSDC). Under the deal, the CSDC is paying USD 187 million for the 160,000 m3 liquefied natural gas carrier, which will be
CSDC, Golar LNG agree sale and leaseback of Golar Crystal
China’s COSCO Shipping Development signed a 10-year sale and leaseback arrangement with the liquefied natural gas shipper Golar LNG.
Video: 2nd Mega Block of World Dream Floated Out
The video above shows the float-out of the second mega block of World Dream, a cruise ship being built for Asian cruise line Dream Cruises at Meyer Werft shipyard in Papenburg, Germany, on March 3. World Dream, which is the second cruise ship being built for Genting Hong Kong’s Dream Cruises at the
DryShips Opts to Buy Second VLGC
Greek owner of drybulk carriers DryShips Inc. has exercised its second option to acquire a very large gas carrier (VLGC) for a price of USD 83.5 million. The VLGC will be employed on a fixed rate time charter with five years firm duration to an undisclosed oil major. The charterer has options to ext
Metropolitan Manila Development Authority Launches Estero Blitz
The Metropolitan Manila Development Authority (MMDA) has officially launched its yearly flood mitigation activity aimed at declogging and cleaning up the waterways such as creeks and esteros in the metropolis in preparation for the coming rainy season. Hundreds of MMDA personnel from the agency’s Fl
China launches ultra-deepwater semi-sub rig Bluewhale I
CIMC Raffles’ Yantai shipyard held a naming and delivery ceremony for the Bluewhale I ultra-deepwater semi-submersible drilling rig last month in China. The Chinese company said on February 13 that, as the first turnkey project in Chinese offshore ultra deepwater field, the Bluewhale I rig would be
HHI Linked to LNG Carrier Order
South Korean shipbuilder Hyundai Heavy Industries (HHI) has received an order to construct a liquefied natural gas (LNG) carrier, the country’s news site Yonhap News Agency reports. Although the terms of the deal have not been revealed, the contract for the construction of the 180,000 cbm vessel is
DW: Vessel contractors preparing to bounce back as market shows signs of balance
The announcement on the 28th February of Emas Chiyoda’s bankruptcy is the latest in a long line of vessel contractors to fall victim to the downturn since January 2015, according to Douglas-Westwood’s latest DW Monday report. Multiple companies such as Cal Dive, Ceona, Cecon, Hercules Offshore, Hark
Report: Cosco to close down three offshore shipyards?
Chinese shipbuilder Cosco Shipping Heavy Industry is reportedly closing down three shipyards as part of its efforts to cut overcapacity. According to a Saturday report by China Daily, China’s English-language newspaper, the company is planning to shut down three of its five shipyards, which are able