Singapore-based owner and operator of very large gas carriers BW LPG Limited has further expanded its fleet with the eighth and final Very Large Gas Carrier (VLGC) BW Volans built by the South Korean shipbuilder Hyundai Heavy Industries. The vessel joined its owner today and wrapped up BW LPG’s newb
Navig8 Chemical Tankers, a joint venture between the Navig8 Group and Oaktree Capital Management, reported its net income for the first quarter of 2016 at USD 10.4 million against a net income of USD 9.1 million for the three months ended December 31, 2015. The shipping company, which focuses on the
Norwegian ship-owner Ocean Yield ASA has taken delivery of the LR2 product tanker Navig8 Steadfast from South Korean shipbuilder Sungdong Shipyard. After being delivered from the shipyard today, the 110,000 dwt vessel commenced a 13 years “hell and high water” bareboat charter to Navig8 Product Tank
LNG and methanol have been singled out as top alternative fuels for maritime transport in the report released by the EU Joint Research Centre (JRC) especially due to their capability to serve as transition fuels before making a major shift to biofuels. As indicated in the report, they can drive deca
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
Greek shipping company StealthGas Inc. has received commitment letters for two senior secured credit facilities to fund four new 22,000 cbm semi-ref gas carriers scheduled to be delivered in 2017. These facilities, with a combined amount of some USD 140 million, will cover approximately 65 percent o
Norwegian Odfjell is likely to cancel the four 17,000 cbm gas carriers at China’s Nantong Sinopacific, the company said, following recent discussions with the shipbuilding yard related to the delayed construction of its eight LPG/Ethylene vessels on order. Namely, the company has four 17,000 cbm gas
Finnish engineering company Wärtsila is to power the UK’s first dual-fuel ferries being built for Scotland-based Caledonian Maritime Assets (CMAL), the company said. Under the contract signed between the duo in December 2015, Wärtsila is also to supply extended engineering and site support services,
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
Chinese COSCO (Zhoushan) Shipyard, a subsidiary of COSCO Shipyard Group, has entered into a contract with an undisclosed European buyer to build two 113,000 DWT crude oil tankers. COSCO Zhoushan and the European buyer have agreed to keep the contract prices confidential, the company said. The crude
Viking Ocean Cruises, part of Viking Cruises, has christened its second ocean-going cruise ship, Viking Sea, on the Thames River in Greenwich. An interesting fact about the Viking Sea is that it is the largest ship ever launched in London, the company says. “Today is a proud day for our Viking famil
Ship recycling practices in Alang, India, are gradually improving, the European Community Shipowners’ Associations (ECSA) says, following a fact-finding visit from last week to Alang. “The European Commission should acknowledge this positive development under the EU Ship Recycling Regulation. Adopti
Navigator Aurora, a newly built ethane carrier, the world’s largest, owned by US liquefied gas shipping company Navigator Gas, is to be chartered out to Austria-based Borealis Group. Under the long-term charter agreement signed between the duo, the vessel will be used for transportation of ethane to
