Sembcorp Marine Integrated Yard, a subsidiary of Singapore-based marine and offshore engineering group Sembcorp Marine, has entered into a sale and purchase agreement to acquire a 100% equity stake in Norwegian ship design and engineering company LMG Marin AS for USD 20 million. The consideration fo
Alphaliner: Maersk Could Sell APM Terminals and Damco Danish shipping major Maersk Line’s container shipping related units, APM Terminals (APMT) and Damco, could be spun-off or divested entirely, following the company’s strategic and structural review, according to Alphaliner… Read More Update: Ferr
Norwegian shipbuilder and ship designer Vard Holdings Limited (Vard) has inked a USD 70 million contract for the design and construction of three Modul Carrier Vessels (MCVs) with Kazakhstan-based shipping company Kazmortransflot (KMTF). The vessels, of VARD 9 28 design, will be operated by KMTF thr
In a historically weak contracting environment the cruise sector has seen a strong level of newbuild ordering and investment in the year to date, according to Clarksons’ Shipping Intelligence Network. Cruise lines have continued to expand their fleets, with new markets such as China in their sights.
Shipping company Navig8 Product Tankers has taken delivery of the 74,000 dwt LR1 tanker Navig8 Providence from South Korean shipbuilder SPP Shipbuilding. The Navig8 Providence is the second of four vessels contracted at SPP to be delivered to the company and is the second vessel to be delivered unde
Finnish shipbuilder Meyer Turku has launched the production of a new generation of Mein Schiff ships, being built for Hamburg-based cruise line TUI Cruises, with a steel cutting ceremony at the shipbuilder’s steel hall. The company’s new Mein Schiff 1, hull number NB-1392, will be around 20 meters l
Greek tanker owner and operator Tsakos Energy Navigation (TEN) has taken delivery of the Aframax crude tanker Thomas Zafiras from Romania-based shipbuilding company Daewoo Mangalia Heavy Industries (DMHI). The 112,700 dwt vessel will immediately enter a long term charter contract with oil and gas ma
German shipping company Marlink Schiffahrtskontor has placed an order for six Feedermax vessels with an option for another six ships at China’s shipyard Fujian Mawei Shipbuilding, according to data provided by VesselsValue. Five containerships from the batch, with a capacity of 1,162 TEU, are schedu
Norwegian shipbuilder and ship designer Vard Holdings Limited (VARD) has confirmed that contracts for the construction of four luxury expedition cruise vessels for French cruise company Ponant have become effective. In March this year, the two companies signed a Letter of Intent that was subject to
Greece-based tanker owner and operator Top Ships has taken delivery of its sixth and final newbuild vessel, the 50,000 dwt fuel efficient ECO MR product tanker M/T Nord Valiant. The ship, which features a length of 183.1 meters and a width of 32.2 meters, was constructed by Vietnam’s Hyundai Vinashi
Excess shipyard capacity and a slowing but still considerable orderbook are the negative factors overhanging brighter prospects for shipping demand growth, according to Maritime Strategies International (MSI). MSI has forecast a structural change to future shipping cycles, “with shorter, sharper cyc
Chemical shipping company Navig8 Chemical Tankers Inc. has expanded its fleet with its newest addition, the 25,000 dwt stainless steel chemical tanker Navig8 Sky. The newbuilding was delivered from Japanese shipbuilder Kitanihon Shipbuilding Co. Ltd. Navig8 Sky is the second of six vessels contracte
Liquefied gas shipping company Navigator Gas has taken delivery of its first midsize semi-refrigerated ethane vessel Navigator Aurora on August 2 from the Jiangnan Shipyard in Shangai, China. The tanker, which has a total cargo tank size of 35,000 cubic meters and can hold ethane loads of up to 20,0
Gothenburg-based shipowner Ektank’s new 18,600 dwt intermediate product/chemical tankers will be built to a design jointly developed by Swedish ship designer Fartygskonstruktioner (FKAB) and Ektank. The project, FKAB T28 is a 22 700 m3, Oil product & Chemical Tier II tanker, designed for low fuel co
