Top Stories of the Week (Aug 26 – Aug 30, 2013)

Yang Ming Hires Seaspan’s Five Newbuild Containerships

Seaspan Corporation announced on Friday that it has, further to a previously announced binding letter of intent, signed long-term, fixed-rate time charter contracts with Yang Ming Marine Transport Corp. (“Yang Ming”) for five 14000 TEU class newbuilding containerships.

CMES Eyes 12 Handymax Bulk Carriers

Triggered by a desire to modernize its bulker fleet, the board of China Merchants Energy Shipping (CMES) gave a green light to the proposal of adding 12 handymax bulk carriers, the company revealed on Tuesday in its half year results.

STX Corporation Turns to Legal Action to Dismiss Bankruptcy Application!

STX Corporation revealed today in a filing to the Korea Exchange its intention to hire lawyers in order to dismiss a bankruptcy application, submitted by a private individual creditor, who claims to hold 132.6M won ($118,664) of STX bonds.

DSME Bags USD 422 Mln Shipbuilding Contract

Daewoo Shipbuilding & Marine Engineering Co Ltd announced today in its regulatory filing that the company has secured an order worth USD 422.3 million for the construction of three containerships.

Hyundai Heavy Wins USD 1.4 Bln Order

Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder, announced that it won a USD 1.4 billion order to build five 18,000 TEU class and five 14,000 TEU class containerships from the United Arab Shipping Company (UASC) on August 29.

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Shipbuilding Tribune Staff, August 25, 2013