UK-based power systems provider Rolls-Royce has enter a deal to provide propulsion and deck machinery to five cruise ships being built by Italian shipbuilder Fincantieri at its Monfalcone and Ancona Shipyards. Under the contract, the company will supply a Promas system, deck machinery and steering g
Bermuda-based tanker owner Nordic American Tankers Limited (NAT) has launched an underwritten public offering in an effort to finance the expansion of its fleet. Namely, the company is offering up to 11 million common shares at a price of USD 10 per share, and a 30-day option for underwriters to pur
Owner and operator of liquefied natural gas carriers Teekay LNG Partners has entered into a 15-year time-charter contract with the Yamal LNG project, to provide Yamal LNG with conventional liquefied natural gas (LNG) transportation services. The fixed-rate time-charter contract will be serviced by o
Finnish dry bulk shipping company ESL Shipping has assigned the building of its energy efficient liquefied natural gas (LNG)-fuelled bulk carriers to China’s Jinling Shipyard, operated by Sinotrans & CSC Shipbuilding Industry Corporation. The company said that the agreement reached between the parti
Norwegian shipping company Knutsen OAS Shipping has taken delivery of the newly-built MEGI liquefied natural gas (LNG) carrier La Mancha Knutsen, South Korea’s shipbuilder Hyundai Heavy Industries said on September 26. The 176,300 cbm vessel, which features a length of 290 meters and a width of 46.4
Norwegian firm Vard Engineering Brevik AS has received an Approval in Principle (AiP) for its new 6,500 m3 bunker vessel design from the classification society DNV GL. The design has been evaluated for compliance with the DNV GL Gas Bunker rules, the applicable Gas Carrier rules as well as the IGC C
During the summer, the cruise ship fleet surged past half a million berths of total capacity as the cruise industry continued to expand its horizons, according to Clarksons Research. The industry has seen strong newbuilding investment this year, and while many of the new ‘mega-ships’ will likely be
Genting Hong Kong has shared a video of the river conveyance of Genting Dream, the first ship built for the Dream Cruises line, that began on Sunday, September 18, from Meyer Werft’s shipyard in Papenburg, Germany. The river conveyance marks the official start of Genting Dream’s journey to her first
Italian shipbuilder and ship designer Fincantieri and China State Shipbuilding Corporation (CSSC) signed a non-binding agreement with Carnival Corporation and CIC Capital Corporation (CIC Capital) for the construction of the first two cruise ships to be built in China for the Chinese market, with an
Swedish shipping company Sirius Shipping has placed an order for two 7,999 dwt oil/chemical tankers at China’s AVIC Dingheng Shipyard. The two vessels are scheduled for delivery in 2018, Sirius said without revealing the value of the contract. The 9,500 cbm tankers will have ICE class 1A and will be
South Korean shipbuilder Hyundai Heavy Industries has secured a refund guarantee in connection to a recent order to construct two oil tankers for a Greek shipowner, Yonhap News Agency reported industry sources as saying. The refund guarantee is provided by a group of banks led by KEB-Hana Bank. Thes
Norwegian shipbuilder and ship designer Vard Holdings Limited has secured a contract for the design and construction of two additional module carrier vessels for Topaz Energy and Marine. The vessels, of VARD 9 21 design and measuring 123 by 16.5 meters, are sister ships of a series of 15 identical m
Global marine underwriting premiums in 2015 amounted to USD 29.9 billion, down by 10.5% compared to the 2014 figure, and the trend of uncertainty is expected to continue, the International Union of Marine Insurance (IUMI) has warned. Technical insurance results for the 2014 underwriting year deterio
German shipping major Hapag-Lloyd has ordered a total of 5,750 refrigerated containers (reefers), including five thousand 40-foot and 750 20-foot units, as it prepares to take delivery of five new 10,500 TEU vessels. The company said that 1,000 of the new containers will be equipped with ‘controlled
