Amid a record year for containership demolitions in 2016, which helped suppress total fleet growth close to the rate for demand, shipping consultancy Drewry said that the scrapping candidates will get younger and bigger until the market recovers. Greater scrapping is a sign of the underlying weaknes
Norwegian ship-owner Ocean Yield ASA has taken delivery of the 38,000 cbm liquefied ethylene gas (LEG) carrier Gaschem Beluga from China’s shipbuilder Sinopacific Offshore & Engineering. Upon delivery, the carrier commenced a 15-year “hell and high water” bareboat charter to the German shipping comp
Fincantieri Oil & Gas, a subsidiary of the Italian shipbuilding conglomerate Fincantieri, has launched a voluntary conditional general offer in Singapore for the ordinary shares of Vard Holdings Limited not already held by the company. The company said that the offer is for the remaining 44.37% of t
Drewry: Japanese Merger Could Spark Second Wave of M&As Driven by the need to stop the cost competitive advantage of the bigger lines growing, a...
Danish marine consultancy Knud E. Hansen (KEH) and ship designer Smart Engineering & Design Solutions (India) (SEDS) have teamed up to provide two vessel designs for four passenger ships to be built for India’s Andaman & Nicobar Administration. According to KEH, the larger vessel design will feature
Croatian shipbuilder Brodosplit has signed an agreement to build a Polar Class expedition cruise ship for an undisclosed client. The ship will be built in the class LR Polar Class 6 and will be the first cruise ship in the world ever built in this class, according to Brodosplit. Capable of carrying
European Investment Bank (EIB) and Societe Generale Corporate & Investment Banking signed a framework guarantee agreement for EUR 150 million (USD 163 million) to support shipbuilding projects promoting sustainable transport and environmental protection. Signed as part of the UNFCCC Climate Conferen
The shipping industry is set to experience a stormy road to recovery, with uneven supply/demand trends set to test the nerve of investors and operators, according to research and consultancy firm Maritime Strategies International (MSI). Addressing the Hansa Forum in Hamburg, Germany this week, MSI S
Power and automation technology group ABB has signed an agreement with China’s Wuchang Shipbuilding Group to cooperate on developing greener ships and digital solutions. Under the deal to deepen cooperation, ABB said that the partnership will help Wuchang Shipbuilding Group manufacture “highly effic
Italian shipbuilder Fincantieri has held a steel cutting ceremony of the bow section of the fourth Royal class ship for cruise operator Princess Cruises, a brand of Carnival Corporation. The steel cutting ceremony was held at Fincantieri’s shipyard in Castellammare di Stabia on November 3, 2016. The
Seabourn Encore, the first of two ultra-luxury cruise ships being built by Italian shipbuilder Fincantieri for US-based cruise line Seabourn, has completed the final round of sea trials off the coast of Italy in the Adriatic Sea. The Seabourn Encore departed the Fincantieri shipyard on November 4 fo
Australian livestock ship owner and operator Wellard Limited has, through its subsidiary Wellard Ships, reached an agreement to further defer the delivery of the livestock carrier Ocean Kelpie, currently being built by Croatian shipyard Uljanik. The delivery is now expected to take place within the
The containership demolition has reached its all time high as it surpassed 500,000 TEU, providing a positive surprise for the struggling container shipping industry, according to international shipping association BIMCO. BIMCO have throughout 2016 focused on the level of demolition in the container
K Line, MOL, NYK to Join Forces in Container Shipping Japan’s big three container shipping companies have agreed to establish a new joint-venture company to integrate their container shipping businesses… Read More Drewry: Big Three’s Liner Merger Is All about Survival The latest merger of liner ship
