After a period of very limited tanker fleet growth across all but the MR sector, the tanker fleet has surged over the past twelve months by another 203 units amounting to 21.9 million dwt, according to Gibson Shipbrokers. The strength of the tanker market during the low oil price regime meant that o
Hapag-Lloyd, UASC Agree on Merger Terms German shipping major Hapag-Lloyd and United Arab Shipping Company (UASC) have reached an agreement on the terms and conditions of a Business Combination Agreement (BCA)… Read More DSME’s Former CEO Taken into Custody Daewoo Shipbuilding & Marine Engineering’s
Demolition of containerships almost tripled in the first five months of 2016 in comparison to the same period of 2015 as the shipowners attempt to counter the fundamental imbalance between supply and demand under poor container shipping market conditions, according to BIMCO. A total of 150,863 TEUs
Interview: Most Ship Owners Still Opt for Worst Yards As 2016 could be the busiest year on record in ship recycling, World Maritime News spoke to NGO Shipbreaking Platform’s Executive Director, Patrizia Heidegger, to find out more about the major issues behind South Asian beaching… Read More Report:
Iran has been linked to shipbuilding orders worth up to USD 2.4 billion at South Korean yards, providing them with the much-needed boost as they scramble for new orders. Specifically, Islamic Republic of Iran Shipping Lines (IRISL) and oil producer Iranian Offshore Oil Co. (IOOC) are said to have re
Prompted by difficulties in accessing new finance, shipyards are likely to reduce further the newbuilding prices in the tanker sector in the face of stiff competition between yards for new orders. The move is seen as the probable course of action aimed at inciting new investments especially on the b
Major shipbuilding nations will be put to the test during 2016, as the shipbuilding industry enters one of the toughest years in recent history, according to IHS Maritime & Trade. Competition between shipbuilding nations is expected to intensify as a consequence of diversification in other sectors.
The National Shipping Company of Saudi Arabia (Bahri) has signed a joint development agreement (JDA) with Saudi Arabian Oil Company (Saudi Aramco), Maritime Offshore Limited, a subsidiary of UAE-based oil rig constructor Lamprell, and South Korean shipbuilder Hyundai Heavy Industries on establishmen
Interview: Ship Value in Almost All Sectors Close to Historical Lows In May 2011, the mapping, ship search and valuation provider, VesselsValue launched its business operation, introducing a new approach to vessel valuation coined the quantitative analysis… Read More European Shipyards Overtake Asia
Following a scrapping spree witnessed in the first quarter of the year, the Baltic Dry Index’s (BDI) positive effect on capacity being removed from the fleet did not continue into the second quarter of 2016, as capesize demolition came to a halt, according to BIMCO. The BDI went from “devastating” i
Korean Register (KR) has signed a Memorandum of Agreement to establish a joint venture company with the Iranian Classification Society (ICS). The company will be called the ‘Iran-Korea Technology Assurance Company’, with 50-50 capital investment from KR and ICS and it is planned to be fully operatio
Danish Ship Finance: Shipyards Could Be Left without Orders by 2017 It is essential that new orders are placed within the next three to six months for the yard industry to fill up its orderbooks for 2017, according to Danish Ship Finance… Read More UASC to Vote on Hapag-Lloyd Tie-Up in June Dubai-ba
It is essential that new orders are placed within the next three to six months for the yard industry to fill up its orderbooks for 2017, according to Danish Ship Finance. The orderbook is rapidly approaching the low levels seen at the start of 2013, but 2016 looks to be a reasonable year for shipbui
South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has penned a business agreement on operation and technology instruction with the Iranian government for Iran Shipbuilding & Offshore Industries Complex Co. (ISOICO), Korean newspaper the Pulse informed. As reported, the agree
