Frontline has bought four Very Large Crude Carrier (VLCC) newbuilds from Greek Metrostar Management Corporation, according to the latest data provided by VesselsValue. The resale deal covers 308,000 DWT quartet under construction at South Korean shipbuilder Hyundai Heavy Industries. As disclosed, Fr
Danish manufacturer Marine Exhaust Technology, part of ME Production, has completed the installation of an exhaust gas cleaning system (EGCS) on DFDS’ RoRo vessel Finlandia at Fayard shipyard in Denmark. The video above shows the open loop scrubber system being retrofitted in the existing funnel of
This year’s Posidonia maritime exhibition will see a 15 percent growth in size, hosting over 1,800 exhibitors from 89 countries and some 20,000 expected visitors, according to the organizers of the event. “The growth of Posidonia is the result of the resilience of the Greek shipping industry which h
Canadian ferry operator BC Ferries held a naming ceremony for its second and third Salish-Class vessels, the Salish Eagle and Salish Raven, at Remontowa Shipbuilding S.A. in Gdansk, Poland on June 2. “This ceremony marks a major milestone in the construction of our three new Salish-Class vessels as
Prompted by a sluggish offshore oil and gas industry, the Oslo-listed ship owner Deep Sea Supply PLC has decided to look for profits elsewhere as it entered into an agreement with Norwegian seafood company Marine Harvest to establish a 50/50 owned aquaculture shipping joint venture. According to the
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.
French shipping giant CMA CGM has ordered four 3,300 TEU container vessels from the Chinese COSCO (Zhoushan) Shipyard, a subsidiary of COSCO Shipyard Group. Under the contract signed between the parties, the new containerships are scheduled for delivery between March 31, 2018 and August 31, 2018. CO
Irish Ferries’ parent company, Irish Continental Group has signed an agreement with German shipbuilder Flensburger Schiffbau-Gesellschaft to construct a new cruise ferry costing EUR 144 million (USD 161 million). The cruise ferry will be able to accommodate 1,885 passengers and crew, with a car deck
Tanker owner and operator Frontline has secured a commitment for a senior secured term loan facility worth up to USD 328.4 million with China Exim Bank that will be used to finance eight newbuildings. Specifically, the facility will be secured by four Suezmax tankers and four LR2 tankers, it matures
On May 27, Queen Mary 2 docked at Hamburg’s terminal Steinwerder carrying 2,000 passengers. In the next few weeks, the cruise ship will undergo a major refit – the biggest in its 12-year history – at German Blohm+Voss shipyard. The video shows the cruise ship being pulled by a tug into the dry-dock
In today’s spotted we bring you the Academician Pashin – the first tanker built for the Russian Navy since the end of the Soviet Union. The vessel was launched at Nevsky Shipyard on May 26. Nevsky says Academician Pashin is the biggest vessel ever launched at this shipyard. Its construction was carr
Finnish engineering company Wärtsilä has been awarded the contract to provide integrated turnkey electrical solutions for four new RoRo ferries being built at the Flensburger Schiffbau-Gesellschaft (FSG) in Germany. The vessels are contracted by SIEM RoRo Carriers and two are to be chartered to Denm
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
