The fresh overcapacity fears in Asia-North Europe trade, sparked by the rumored new orders for Ultra Large Container Vessels (ULCV) of 22,000 TEU, seem to be unfounded. Namely, according to Alphaliner’s estimates, the newbuildings of 14,000-22,000 TEU that are to be introduced will only increase Asi
Silversea Cruises has entrusted Italian shipbuilder Fincantieri for the construction of a new ultra-luxury cruise ship, due to join the shipowner’s fleet in 2020. The shipbuilding contract is worth about EUR 310 million (USD 372.6 million). The new unit, tentatively named Silver Moon, will be a sist
Readers’ Picks of the Week (September 4 – 8, 2017)
Russia and Korea are working to bolster their maritime ties, especially as they eye the benefits of shipping through the Northern Sea Route. As Russia strives to build up its own shipbuilding capacity, it turned to Korea for the construction of its gas carrying ships. A Korean company has received a
Italian shipbuilder Fincantieri held the steel cutting of the new ship for Princess Cruises, brand of Carnival Corporation, at its shipyard in Monfalcone on September 8. The new cruise ship will be the fourth edition of the class for Princess Cruises, following Royal, Regal and Majestic, delivered i
South Korean shipbuilding major Samsung Heavy Industries (SHI) has signed a term sheet with Russian counterpart Zvezda Shipbuilding Complex for the establishment of a joint venture (JV) aimed at managing construction projects of Arctic shuttle tankers. The joint venture will provide technical suppor
Russian oil major Rosneft plans to order reinforced ice-class shuttle tankers from the Zvezda Shipbuilding Complex currently under development. Namely, Rosneft, Rosnefteflot and Zvezda Shipbuilding Complex signed today an agreement of intent that envisages placing orders with Zvezda Shipbuilding for
Norwegian builder of ferries and offshore support vessels has obtained an investment worth NOK 300 million (USD 38.8 million), the shipbuilder said. The cash injection comes from a group of investors comprising the compatriot cruise, ferry and cargo operator Hurtigruten and its owners, Petter A. Sto
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
Finnish technology group Wärtsilä has been hired to supply the cargo handling system and cargo tanks for a new 3000 cubic metre capacity LNG bunker barge. The vessel will be owned by LNG Shipping, a consortium between Belgium based Victrol and CFT Corporation based in France. The barge is being buil
Miami-based cruise company Carnival Corporation has held a keel-laying ceremony of the first ship of its new liquefied natural gas (LNG) generation, AIDAnova, which will be delivered by Meyer Werft Papenburg in fall 2018. The 180,000 gross ton AIDAnova, which will be the 13th member in AIDA’s fleet,
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
Finnish shipbuilder Meyer Turku is more than doubling its investments to EUR 185 million (USD 220.6 million) from the previously planned EUR 75 million. The new investments include a new plate cutting line, a new profile cutting line and a new panel line to the steel halls of the shipyard. These new
Dutch shipbuilder Royal IHC has signed a letter of intent (LOI) with Subsea 7 S.A. for the construction of a new reel-lay vessel and associated pipe lay equipment. The construction cost is expected to be below USD 300 million, Subsea 7 said, adding that the ship is scheduled for an early 2020 delive
