Exmar’s newbuilding floating liquefied natural gas (FLNG) facility Carribean FLNG is yet to secure its first job. The world’s first barge-based FLNG facility was delivered to Exmar by Chinese Wison Offshore and Marine in July this year. The vessel was set to work for Canada-based oil and gas company
On the heels of the two orders by containership majors CMA CGM and MSC for 22,000 TEU ships, the market fears there is a risk other carriers might follow suit further distorting demand-supply balance, which is already suffering from tonnage oversupply. To remind, Mediterranean Shipping Company has o
Vessel operating costs are expected to increase in both 2017 and 2018, according to the latest survey by international account and shipping consultant Moore Stephens. Repairs & maintenance and spares are the cost categories which are likely to increase most significantly in each of the two years. Th
Some 124 ships out of 227 ships broken in the third quarter of 2017 ended up on beaches in South Asia for dirty and dangerous breaking, the latest report from NGO Shipbreaking Platform shows. A total of 42 ships were sent for demolition to Turkey, 35 to China, and 26 were scrapped in the rest of [&h
Since the beginning of the second half of this year, shipowners have ramped up dry bulk ordering, bringing the newbuild count to 110 new ships in the last three months. The number has almost doubled when compared to 63 newbuilding orders from the first half of this year, according to the data from V
DP World will be splashing USD 405 million for the acquisition of Dubai’s ship repair business Drydocks World LLC (Drydocks) and Maritime World LLC, the 100% owner of Dubai Maritime City (DMC). The Dubai-based port operator said the purchases would be made by means of a capital injection of USD 225
Readers’ Picks of the Week (September 4 – 8, 2017)
Classification societies need to keep pace with the digitalization of the shipping industry in order to support the industry needs, according to the new Chairman of the International Association of Classification Societies (IACS), Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime. “Our industry is becom
National Shipping Company of Saudi Arabia (Bahri) has taken delivery of the very large crude carrier (VLCC) Rimthan, built by Hyundai Samho Heavy Industries (HSHI) in South Korea. The 300,000 dwt carrier joins the company’s 40-strong VLCC fleet. Built to the latest environmental and fuel-efficient t
The shipping industry may collectively need to spend around USD 100 billion in order to install the new ballast water treatment systems that will be required by law in order to become compliant with the Ballast Water Management (BWM) Convention that will enter into force on September 8, 2017. Esben
Hungry shipyards and shipping companies being eager to be top dog is a toxic cocktail which, combined with market optimism amid higher freight rates, is likely to distort the low ordering activity in the container shipping sector, according to shipowners’ association BIMCO. Container shipping majors
Over the past four months owners have been busy ordering new tankers, keeping the crude oil tanker fleet expansion on course for a six-year-high, measured in DWT, BIMCO said. However, the fleet growth percentage is down from last years’ 5.9%, to 4.7% for the full year of 2017. The order book include
The current order book for bulk carriers stands at 60.4 million DWT, which is the lowest in 13 years, based on the data from BIMCO shipowners’ association. Despite the market turmoil stemming from hectic activity in the sales and purchase market, the ordering activity remained subdued for some time.
Bahri Dry Bulk Company, a majority-owned subsidiary of the National Shipping Company of Saudi Arabia (Bahri), has inked contracts with South Korean shipbuilder Hyundai Heavy Industries (HHI) for the construction of four bulk carriers. Bahri said that the total price tag for the four newbuildings is
