Greece’s Angelicoussis Group of Companies has penned a deal with Qatar’s shipyard Nakilat-Keppel Offshore & Marine (N-KOM) on continuation of ship repair activities for the company’s fleet of over 110 vessels. Under the deal, N-KOM will continue to be the preferred shipyard to conduct repairs on the
International dry bulk shipowners seem only to scrap ships aged eighteen years or older, while some Chinese owners have scrapped ships that were even younger than that, according to the Baltic and International Maritime Council (BIMCO). Nineteen ships out of 28 ships built in 1998 to 1999 and demoli
Dolphin Resorts to Bankruptcy Norwegian Dolphin Group ASA together with its subsidiary Dolphin Geophysical AS will today file a petition for bankruptcy with their relevant courts having succumbed to d… Read More Six Missing After Collision in Singapore Strait Six crew members are missing after a Cay
Despite a marginal deterioration in the growth outlook for the global shipbuilding industry, annualized five-year growth rates for the sector are still forecast to reach a healthy 3 to 5%, before picking up substantially after 2017, according to Castrol Marine Trade Barometer. The barometer predicts
LPG shipping rates are expected to decline from the second half of 2016 as a bloated orderbook for very large gas carriers (VLGCs) fuels fleet growth that will far exceed shipping demand, according to the latest edition of Drewry’s LPG Forecaster. VLGC earnings have had another stellar year, averagi
Tanker shipping rates are set to decline from current highs in 2016 with the forecast decline in crude oil trade due to ample stocking, and expected fleet expansion, according to the latest edition of Drewry’s Tanker Forecaster. Tanker market enjoyed high freight rates due to the buoyant crude oil t
Dry bulk owners seem to be resisting the temptation of ordering new ships despite currently low newbuilding prices for dry bulk ships that have just passed the lows of 2012 and are now at the lowest level since 2003, according to BIMCO. “The fact that ship owners have refrained from ordering new dry
As the public pressure mounts on reducing CO2 footprint across the board, the ship owners are investing heavily in greening up the global fleet. This is evident when taking a look at the fleet of ships being delivered next year, as over half of newbuilds, excluding small dry ships, feature eco engin
Readers’ Picks of the Week (Nov 16th – Nov 20th)
Arabian Gulf ship operator Oman Shipping Company (OSC) has named two of its new product and chemical tankers – the Muscat Silver and Rustaq Silver – at the Hyundai Mipo Dockyard in Ulsan, South Korea. OSC will now take delivery of the Muscat Silver as part of a deal which will see 10 MR tankers deli
Energy and chemicals company Saudi Aramco and South Korean shipbuilding conglomerate Hyundai Heavy Industries (HHI) Group signed a general memorandum of understanding (MoU) on Wednesday to jointly collaborate on business development opportunities in the Kingdom of Saudi Arabia. The MoU lays the grou
CEO of Fredriksen Group Arrested in Norway Chief Executive Officer of the Fredriksen Group Jo Lunder was arrested by Norwegian police in Oslo on Wednesday Reuters reports… Read More Royal Caribbean Orders 5th Quantum-Class Ship Royal Caribbean Cruises Ltd has ordered a fifth Quantumclass ship from M
Study: New LNG-Fuelled Concept Boxship Doesn’t Need an Engine Room GTT CMA CGM and its subsidiary CMA Ships and DNV GL released a technical and feasibility study for a new mega box ship today the Piston Engine Room Free Efficient Contai… Read More 124 Injured When Turbojet Ferry Hits Unknown Object
Vessel operating costs are expected to rise in both 2015 and 2016, according to the latest survey by international accountant and shipping consultant Moore Stephens. Crew wages, repairs and maintenance, and drydocking are the cost categories likely to increase most significantly over that period. Th
