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.
Swedish ferry company Stena Line has held a steel cutting ceremony for the first of four RoPax vessels ordered in China. The steel cutting was held at the AVIC Weihai Shipyard on August 25, 2017. The vessels have a planned delivery timetable during 2019 and 2020 with Stena having an option to order
Wes Amelie, the world’s first containership retrofitted with a liquefied natural gas (LNG) engine was launched on August 23, 2017. Since May 2017, the 1,000 TEU feeder, owned by Wessels Reederei based in Harem/Ems, has undergone an LNG engine conversion at the German Dry Docks in Bremerhaven. Wes Am
Dutch shipbuilder Ferus Smit has launched Symphony Spirit, the fifth in a series of six vessels that will be delivered to compatriot company Symphony Shipping. The launching of the general cargo vessel took place on August 25 in Leer, Germany. The 10,500 dwt Symphony Spirit has a hold volume of 429,
Switzerland-based cruise line MSC Cruises and Italian shipbuilder Fincantieri have celebrated the float out of MSC Seaview, the second of two identical ships in the Seaside generation. The ceremony took place on August 23 at the Monfalcone shipyard in Italy, where the ship is being built. MSC Seavie
UK-based ferry company Red Funnel has placed an order with compatriot Wight Shipyard for another 41 meter high-speed catamaran. The order for Red Jet 7 marks the first major investment in Red Funnel by the consortium of UK and Canadian pension funds which acquired the cross-Solent ferry operator in
Norwegian ferry operator Fjord Line has inked a shipbuilding contract with the Australian shipbuilder Austal Ships for a new catamaran ferry. The newbuild is intended to be put into service on Fjord Line’s route between Kristiansand (Norway) to Hirtshals (Denmark) from the season of 2020, amid three
French liner major CMA CGM has reportedly signed a letter of intent (LOI) with two Chinese yards on the construction of up to nine 22,000 TEU megaships. Specifically, in line with the LOI, CSSC Hudong-Zhonghua would be in charge of constructing five ships from the batch, while Shanghai Waigaoqiao Sh
There is no incentive to order new ultra large containerships from a cost perspective right now, despite extremely low prices of newbuilding tonnage, according to Søren Skou, Chief Executive Officer of A.P. Møller – Mærsk A/S. The comment was made in an earnings call anent the CMA CGM 22,000-TEU meg
The second quarter of the year saw a total of 32 product tankers ordered as owners rushed to quench their thirst for newbuilding tonnage amid attractive asset prices. A total of 10 Handysize vessels and 22 Middle Range (MR) tankers have been ordered along with 18 Long Range (LR) 2 vessels, which cor
UK-based maritime classification society Lloyd’s Register (LR) has joined the Quadriga sustainable shipping project, an initiative from Hamburg-based Sailing Cargo, which aims to build the world’s biggest sailing cargo ship. The project outlines a plan to build a 170-meter car carrier, capable of ca
Video Courtesy: Royal Caribbean Miami-based cruise company Royal Caribbean International has marked the official start of construction of its new Quantum Ultra-class ship by cutting the first piece of steel at the Meyer Werft shipyard in Papenburg, Germany. As disclosed, the newbuilding will be name
German shipbuilder MV Werften has launched construction work on a new hall complex, under an investment of some EUR 80 million (USD 93.8 million). The future shipbuilding complex, said to be one of the largest company investments in the region in the past decades, will be 385 metres long, 99 metres
The Center for Strategic Development will evaluate Russia’s demand for next-generation super-heavy nuclear-powered icebreakers for the purposes of freight transportation along the Northern Sea Route (NSR), The Arctic said. The survey has been ordered by Atomflot (Rosatom Flot), a company owned by th
