Ship construction rules for oil tankers and bulk carriers submitted by 12 classification societies comply with the goals and functional requirements set by the International Maritime Organization for new vessels, according to IMO’s Maritime Safety Committee (MSC). The MSC reviewed goal-based standar
The container shipping fleet could break through the 20 million TEU barrier shortly and, with an estimated net addition of 0.68 million TEU of capacity for the full year, the milestone could be reached in June, according to BIMCO. Over the last decade, the fleet size in TEU increased by 240% and rea
Interview: Kidnappings for Ransom Easy and Less Risky In 2016, piracy has yet again emerged as one of the key problems seafarers face during their voyages at sea. A particular concern is the ever growing number of kidnappings … Read More Third Alliance Members Revealed Global carriers Hanjin, Hapag-
Newbuilding orders of tanker ships have seen a sharp reduction, but the slowing trend needs to be sustained for the longer-term health of the market, global shipping consultancy Drewry said in its Tanker Forecaster. After numerous orders in recent years, newbuilding activity in the tanker market dec
Alphaliner: Third Alliance in the Making? The eight container carriers left out of the two major alliances, the 2M and Ocean Alliance, could team up under a single arrangement that would represent a serious count… Read More Hanjin Shipping’s Restructuring Cleared South Korean shipping company Hanjin
The overcapacity in the container shipping sector seems to have finally struck a nerve as owners abstained from ordering new boxship capacity for the first time in years. According to BIMCO, the first quarter of this year was the first time since the second quarter of 2009 that three months have pas
China’s Biggest LNG Carrier Hits the Water China’s biggest liquefied natural gas (LNG) carrier, which features a length of 290 meters, was launched at the Hudong-Zhonghua Shipbuilding, Shanghai, on April 15… Read More Update: The New Carrier Alliance Is Here Container shipping majors CMA CGM, COSCO
Dubai-based shipping company Gulf Navigation Holding PJSC (GulfNav) is planning to add new tonnage to its fleet of product and chemical tankers and reinforce its shipping services business. The fleet growth plan was announced by the company at today’s press conference, with GulfNav setting sights on
Containership scrapping is expected to intensify in 2016 as charter market demand for Panamax ships is bound to remain muted based on the recent forecast from Drewry. Drewry bases its argument on the rising demolition prices for scrapping which were kept pretty low throughout 2015. Hence, the amount
The first quarter of 2016 was hit by a major decline in ordering newbuilds with only 77 new ships ordered by the end of March 2016, Clarksons data shows. This is a substantial drop when compared to the corresponding period in 2015 when a total of 375 ships were ordered. January was definitely the sl
The 29 LNG carriers, including the FSRU Golar Tundra, delivered in 2015 far outweighed additional shipping requirements from the additional 4.7 MT of incremental LNG trade, exacerbating the oversupply in the LNG shipping market, according to the latest report from the International Gas Union (IGU).
Korean shipbuilder Hyundai Heavy Industries (HHI) is said to be on the brink of winning a potential order for three 14,500 TEU container ships from Iranian shipping company IRISL. IRISL, which is reportedly in talks with the HHI and some other yards in both Korea and China, is expected to pay USD 12
The interest of the shipbuilding players and owners in building and ordering bulkers in 2016 has subsided as shipyards believe they can earn more from constructing other types of ships as they are more profitable, such as tankers for example. On the other hand, the best time to invest in modern bulk
Shipping’s only legally binding climate measure is not stimulating the uptake of new technologies or driving efficiency improvements, according to a new independent study entitled Historical Trends in Ship Design Efficiency made for Clean Shipping Coalition (CSC) by CE Delft, a research and consulta
