Shipbuilding
Sinica Graeca Joins Angelakos Hellas’ Fleet
Sinopacific Shipbuilding Group (Sinopacific) held a christening ceremony at its Dayang Shipyard on Thursday, May 14th for a newly built Ultramax CROWN 63® ordered by Greek owner Angelakos (Hellas) S.A. As the Godmother, Madam Grace Yang, the wife of former Chinese Ambassador to Greece christened thi
HSH Nordbank Sets Sights on South Korea
German lender HSH Nordbank is focusing its international shipping business on South Korea through the announced cooperation with the Export-Import Bank of Korea (Korea Eximbank) and Busan, Korea’s second-largest city after the capital Seoul. The collaboration comprises projects involving finance for
Weaker Order Intake at Fincantieri
Italian shipbuilder Fincantieri posted a somewhat weaker first quarter results in 2015. The group secured new orders totaling euro 85 million compared to euro 1.7 billion in the corresponding period of 2014. Of the total new orders 53% relates to the shipbuilding segment (59% at 31 March 2014), 35%
Siem Shipping Orders PCTC Duo
Oslo-listed Siem Shipping Inc has placed an order for two car carriers with Croatian shipbuilder Uljanik. Under the deal, Uljanik will build two 7000 ceu pure car and truck carriers (PCTCs) intended for delivery in the second half of 2017. The price is in the process of being finalised, but will be
Sainty Marine Loses Four More
Shenzhen-listed shipbuilder Jiangsu Sainty Marine Corp said that it has agreed with Dutch ship investment company Universal Marine on cancellation of order for construction of four 2,350 TEU boxships. According to Sainty Marine, the quartet was ordered in March 2014, however the construction has not
Cammell Laird Sees Spike in Ferry Dockings
British shipyard and marine engineering services company Cammell Laird has reported that the number of ferry dockings in the first four months of 2015 almost matched the number of ferries the shipyard docked throughout the entire 2014. Cammell Laird has seen 15 ferries docked at its Birkenhead 120 a
DSME Eyeing STX France
South Korean Daewoo Shipbuilding & Marine Engineering (DSME) has confirmed its interest in buying a stake in a Saint Nazaire-headquartered shipbuilder STX France. Reacting to recent speculations made in the French press, DSME said that it received the offer documents for the sale of the stake, but t
Drewry: Newbuild Ordering Frenzy Could Hurt Tanker Market
Freight rates in the tanker market remained firm in April, considering seasonal weakness in activity and rates in general, Drewry’s Tanker Insight shows. Sluggish fleet growth and improved tonnage demand resulted in high utilisation rates, supporting firmness in freight rates. Despite the shutdown o
Scorpio Tankers Invests in Four LR2 Tankers
Scorpio Tankers has entered into agreements to purchase four LR2 product tankers currently under construction at two South Korean shipyards. The units are being built at Sungdong Shipbuilding and Marine Engineering Co., Ltd. and Daehan Shipbuilding Co., Ltd. The tanker owner is expected to pay USD 2
DSME Confirms Talks on Mega Order
South Korean shipbuilding giant Daewoo Shipbuilding and Marine Engineering (DSME) confirmed today that it is in talks with European counterparts regarding an order worth up to USD 1.7 billion. The order could entail up to 11 containerships, DSME said in a filing to Korea Stock Exchange. The shipbuil
Clarkson: Dry Bulk Orders Spiraling Down
In the last four months dry bulk orders have fallen to 0.4 million dwt per month, the lowest level since the 1990s, according to the latest market review released by Clarkson Research. “This is a massive 98% reduction from the 23 million dwt peak in orders in December 2007, and probably the sharpest
Bankrupt Portuguese Shipyard Operator to Pay Back USD 324 Million of EU Aid
The European Commission has found that around EUR 290 million (USD 324 million) of public support granted by Portugal to Estaleiros Navais de Viana do Castelo, S.A. (ENVC), the former operator of shipyards located in Viana do Castelo in Portugal, was not compatible with EU state aid rules, and is to
Costa Concordia Heads for Scrapping Today
The stripped Costa Concordia wreck will begin manoeuvres to exit the port of Pra’ Voltri today at 4 pm, its final destination being the Port of Genoa where it will be dismantled. The transfer has been authorized by the local authorities following the first stage of the wreck’s dismantling project th
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