With 12 weeks of 2016 now over, the dry bulk market is still looking bleak, BIMCO says, seeing that the current low demand for transportation of commodities continues. The market is doing what it can by scrapping old ships and restraining from ordering new ones despite 12-year low newbuilding prices
South Korean shipbuilder Hyundai Heavy Industries (HHI) signed a joint project with US-based technology conglomerate General Electrics (GE) and international classification society Lloyd’s Register (LR) to develop gas turbine powered, electrically driven, 14,000 container ship design. Gas turbines a
Cement carrier M.V. Ireland was launched at the Netherlands-based Ferus Smit Westerbroek Yard on 19 March. The photo shows the vessel hitting the water for the first time. The vessel is equipped with an LNG fuelled propulsion system and incorporates a pressurized LNG tank positioned in the foreship.
Denmark-based container shipping major Maersk Line A/S has selected Wärtsilä Nacos Platinum integrated navigation, automation, and propulsion control systems to be built in its 27 new containerships. The container vessels are under construction at yards in China and South Korea. With the contracts i
Royal Caribbean’s brand new Quantum class cruise ship Ovation of the Seas has arrived to Blohm & Voss’s dock in Hamburg for its finishing touches. The 168,666-gross ton vessel moored at the shipbuilder’s dock on March 18 fresh from sea-trials. The cruise ship, which was constructed in 18 months, was
Oslo-listed ship owner Ocean Yield ASA has taken delivery of the LR2 product tanker Navig8 Sanctity from Korean shipbuilder Sungdong Shipyard, the company informed. After being delivered from the shipyard today, the vessel commenced a 13-year “hell and high water” bareboat charter to Navig8 Product
Ship design unit of Finnish engineering company Wärtsilä has entered into a cooperation agreement with Shangai Merchant Ship Design & Research Institute (SDARI), China-based ship design house that is a part of China State Shipbuilding Corporation group (CSSC). The agreement is to cover the designs f
Fincantieri’s Vard Enters Cruise Sector with Ponant’s Quartet Order Fincantieri’s Norwegian subsidiary Vard Holdings Limited (VARD), specializing in the design and shipbuilding of offshore and specialized vessels, has signed a Letter of… Read More VIDEO: AIDA Cruises Takes Delivery of AIDAprima Germ
Navig8 Product Tankers, a joint venture between the Navig8 Group and DVB Bank, has entered into sale and leaseback agreements with CMB Financial Leasing for two 74,000 dwt LR1 product tankers being built at Korean shipbuilder SPP Shipbuilding. The two vessels from SPP have contractual delivery dates
d’Amico Tankers Limited (Ireland), a product tanker subsidiary of d’Amico International, has secured a new USD 250 million term loan facility with a pool of nine primary financial institutions, the company said. The lenders include: Credit Agricole Corporate and Investment Bank, Nordea Bank, ING Ban
State-owned corporation China Merchants Group became the latest applicant to buy London’s Baltic Exchange, according to sources cited by Reuters saying that the company made an informal bid for the business. The group’s subsidiary, China Merchants Securities, made the informal offer for the business
The Emma Maersk, one of the largest containerships in the world, is featured in today’s spotted. The giant boxship has recently departed from France-based Damen Shiprepair Brest following drydock services, a special survey and maintenance work. Only yards with extra large drydocks such as this one c
Croatian shipbuilder Uljanik has received an order to construct two Ro-Ro vessels, with an option for further four ships, from the Luxembourg-based RoRo specialist Cobelfret RoRo SA (CLdN). Under the contract, signed on March 14, the vessels on order will have a capacity of 5,500 lane meters and wil
Fincantieri’s Norwegian subsidiary Vard Holdings Limited (VARD), specializing in the design and shipbuilding of offshore and specialized vessels, has signed a Letter of Intent with the French ship owner Ponant, a subsidiary of Artemis Group, for the construction of four small-sized luxury cruise ves
