Chemical shipping company Navig8 Chemical Tankers has secured financing for its remaining two 25,000 dwt stainless steel chemical tanker newbuildings. Namely, the company entered into a USD 54.3 million secured loan facility to finance the two vessels, which are currently under construction at Japan
Athens-based dry bulk shipping company Diana Shipping has decided to cancel the shipbuilding contract for a Kamsarmax dry bulk carrier due to a delay in delivery. Namely, the company said that the cancellation was served in relation to the shipbuilding deal signed in April 2014 with China’s Yangzhou
Norwegian Odfjell has officially signed contracts for the construction of a series of four chemical tankers with stainless steel cargo tanks at China Shipbuilding Trading and Hudong-Zhonghua Shipbuilding. Featuring 49,000 dwt and a cargo capacity of 54,600 cbm, these vessels are said to be the world
The German Fair Trade Commission has approved the acquisition of Blohm+Voss shipyard in Hamburg by German shipbuilder Lürssen Maritime Beteiligungen. With the acquisition, Lürssen said it aims to strengthen its portfolio of services for repair and refit of yachts, naval and commercial ships as well
German shipbuilder Meyer Werft has cut first steel for Norwegian Cruise Line’s (NCL) new cruise ship, Norwegian Bliss, marking the start of the vessel’s construction. The Norwegian Bliss is the third ship in NCL’s Breakaway Pluss class and the first cruise vessel purposely built for the Alaskan regi
Rostock-headquartered ferry operator Scandlines has named M/V Copenhagen, the second of its two hybrid ferries for the Rostock-Gedser route. The naming ceremony took place at the Danish yard Fayard A/S on October 28, 2016. Scandlines said that M/V Copenhagen is currently undergoing a test program. I
HSH: Maersk Line to Operate Six of Hanjin’s Boxships Six container ships of the bankrupt South Korean shipping company Hanjin Shipping Co. will now be operated by Danish shipping giant Maersk Line, according to Germany’s HSH Nordbank… Read More Somali Pirates Release Naham 3 Crew after Four Years Th
Greek tanker owner and operator Tsakos Energy Navigation (TEN) has taken delivery of two vessels, the Aframax crude tanker Leontios H and the company’s second liquefied natural gas (LNG) carrier Maria Energy. The vessels, delivered from Romania-base Daewoo Mangalia Heavy Industries, and from South K
While tanker demand dictates trade volumes and tanker routes, the volatility of fleet growth on the supply side may have a pronounced impact on freight rates, according to the latest report from McQuilling Services. Ton-mile data for crude/dirty petroleum product tankers (DPP) and clean petroleum pr
Global demolition activity increased by 16% in the first nine months of 2016 in comparison to the same period of 2015, as shipowners struggle to counter the imbalance between supply and demand in the market, according to international shipping association BIMCO. A total of 36.2 million dwt was demol
Sweden-based shipowner Furetank Rederi AB and its compatriot Rederi AB Älvtank have contracted two additional product/chemical tankers with LNG propulsion at China’s Avic Dingheng Shipyard. The vessels, of which Furetank and Älvtank will own one each, will be delivered during 2018 and 2019. Featurin
Chemical shipping company Navig8 Chemical Tankers Inc. has expanded its fleet as it took delivery of a 25,000 dwt stainless steel chemical tanker, the Navig8 Stellar. Delivered by the Japanese shipbuilder Kitanihon Shipbuilding, Navig8 Stellar is the fourth of six vessels contracted at the shipyard
The pace of world fleet growth has slowed down with the fleet expanding by 3.1% over the last 12 months, representing the lowest level of monthly year-on-year growth reported since the early 2000s, according to Clarksons Research. More limited contracting and lower delivery volumes combined with fir
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has ordered the NO96 cryogenic membrane containment systems for two new liquefied natural gas (LNG) carriers from French marine engineering company GTT. The NO96 systems, scheduled for delivery in 2019, will be installed on two
