Shipbuilding
Höegh LNG Orders Eighth FSRU
Oslo-listed provider of floating LNG services Höegh LNG Holdings Ltd has ordered its eighth floating storage and regasification unit (FSRU#8) at South Korean shipbuilder Hyundai Heavy Industries (HHI). FSRU#8 is designed to the highest specifications, has full trading capability, regas capacity of 7
Hanjin Heavy Bags Boxship Duo Order
South Korea’s shipbuilder Hanjin Heavy Industries has received a KRW 75.6 billion (USD 67.9 million) order to built two container ships for an unnamed European owner, the company’s stock announcement shows. The contract was signed on May 29, and the two boxships are expected to be delivered by the e
Global Fleet Growth Slows Down
Despite an uneven picture across shipping markets in terms of performance and earnings, the volume of capacity entering the fleet seems to have evened out, according to Clarksons. Shipyard output looks fairly steady, with the 6-month moving average of deliveries averaging around 7-8m dwt per month f
DNV GL: Hybrid Cyber-Ships Fast Approaching
Hybrid propulsion systems and connected ship solutions are emerging technologies that are gaining ground faster than expected, said Tor E. Svensen, CEO DNV GL – Maritime, while commenting on the update to DNV GL’s ”Shipping 2020” report which was published in 2012. The rise of hybrid vessels was una
Cosco Delivers Second Bulker to Harbor Shipping
COSCO (Guangdong) Shipyard Co. has delivered a 35,500 DWT bulk carrier, Chios Freedom, to its European buyer Harbor Shipping. The vessel measures 179.99 meters in LOA (length of all), 30.0 meters in breadth and 14.7 meters in depth. The delivery comes four months after Greek shipping company Harbor
Scorpio Tankers Buys Back
New York-listed Scorpio Tankers Inc. authorized a new securities buyback program to purchase up to an aggregate of USD 250 million of the company’s common stock and bonds. The program includes convertible senior notes due 2019, unsecured senior notes due 2020 and unsecured senior notes due 2017, whi
LR to Class Maersk’s Boxship Newbuilds
UK-based maritime classification society Lloyd’s Register (LR) signed a contract with COSCO Zhoushan Shipyard in China for the classification of seven new 3,600 TEU container ships ordered for world’s largest container carrier Maersk Line. The vessels will be built to Danish Flag and have a length o
Evergas Takes Delivery of First Dragon Class Gas Carrier
The first in a series of 27,500 cbm ‘Dragon’ class vessels ordered by Evergas, owner and operator of seaborne petrochemical and liquid gas transport vessels, is being delivered from the Sinopacific Offshore & Engineering (SOE) shipyard in China today. The ‘Dragon’ class ships are to be chartered by
Star Clippers Building World’s Largest Square Rigger
Monaco-headquartered tall ship sailing cruise line Star Clippers has started building its fourth square rigger, the company’s biggest and most ambitious project to date. The five-masted barque will be built by Croatia’s Brodosplit Shipyard, and is expected to be completed in the second half of 2017.
GOGL Posts Loss, Delays Delivery of 19 Newbuilds
Golden Ocean Group Limited, a dry bulk shipping company created through a merger of former Knightsbridge Shipping Limited and Golden Ocean, reported a net loss of USD 15.3 million and a loss per share of USD 0.18 for the first quarter of 2015. The company explained that the earnings in the first qua
Keel Laid for Russia’s Next Generation Icebreaker
The keel laying of what will become the world’s biggest nuclear-powered icebreaker took place at the Baltic Shipyard on 26 May 2015. The ship has been given the Icebreaker 9 notation by the Russian Maritime Register of Shipping (RS) and forms part of a series of three ships to be built for Atomflot.
Bangladeshi Shipbreakers Take the Lead
There has been a firm level of ship demolition activity in the first four months of 2015 and the two largest owner regions, Asia/Pacific and Europe account for 88% of the tonnage sold for recycling, according to the latest review of shipbreaking trend by Clarkson Research. Whilst the Indian Sub-Cont
Wärtsilä Bags BWM Systems Order
Wärtsilä has received an order for its Ballast Water Management Systems (BWMS) from an undisclosed European shipping company for three container ships being built at the Jinhai Shipyard in China. Wärtsilä said it would deliver the BWMS equipment to the first vessel at the end of 2015, and for the ot
VLGC Fleet to Increase by 23 Pct in 2015
Some 37 very large gas carriers (VLGCs) of a total capacity of 3.1 million cum are to be delivered this year, resulting in a 23% fleet growth in terms of capacity, shipping brokerage Banchero Costa Research said in a report. 23 vessels of all sizes were delivered in the first four months of 2015, in