Shipbuilding
Italy Wants In on STX France Takeover
Italy has confirmed its interest in buying a stake in struggling shipyard STX France in Saint Nazzaire, French daily Le Figaro writes citing French Finance Minister Michel Sapin. The option was discussed during a meeting between Sapin and Italian counterpart Pier Carlo Padoan in Rome last week. The
Sovcomflot Names Third STX Newbuild
Russian shipping company Sovcomflot held a naming ceremony for the LNG carrier SCF Melampus, the third tanker in a series of vessels to be built under a partnership agreement between Sovcomflot and the South Korean shipyard STX Offshore & Shipbuilding. The first two tankers of the series, Velikiy No
Golar Keeps On Selling
Golar LNG Limited has agreed to sell its ownership interests in the companies that will own and operate the floating storage and regasification unit (FSRU) Golar Eskimo to Golar LNG Partners L.P. for a price of USD 390 million. The transaction is expected to be finalized in January 2015. The deal is
DSME Bags Six LNG Carriers
South Korean shipbuilding giant Daewoo Shipbuilding and Marine Engineering (DSME) has secured an order for construction of six LNG carriers worth approximately USD 1.24 billion. The order has been agreed with an undisclosed European shipowner, according to the shipyard’s filing with Korea stock exch
Demand for Tankers Outstripping Supply
Stronger freight rates in the tanker market may bring about some positive trends for the first quarter of 2015, if lower oil prices can continue to generate higher demand for product tankers, BIMCO said. The stronger freight market has been attributed to the supply side, in particular the newbuildin
VIDEO: Arklow Brave Makes a Splash
On Friday the 12th of December, shipbuilder Ferus Smit launched newbuild Nb. 413, christened as Arklow Brave, at its Westerbroek yard. She is the fifth vessel in a series of six that will be delivered to Irish Arklow Shipping. The design is a bulk oriented general cargo ship that will be mainly empl
Readers’ Picks of the Week ( 8-12th of Dec)
World’s Largest Containership Starts Maiden Voyage 19,100 TEU CSCL Globe, the world’s largest container ship and the first in a series of five same-sized ships ordered by China Shipping Container Lines (CSCL) in May 2013…Read more MPHRP Outraged by Court Decision to Compensate Pirates Decision of th
GALLERY: Damen Revamps Astor and Marco Polo
Damen Shiprepair Vlissingen (DSV) has completed refurbishment of cruise ships Astor and Marco Polo, both operated by Cruise & Maritime Voyages. The vessels have been at DSV for a wide-ranging programme of work, scheduled and unscheduled, Damen said. Astor, featuring passenger capacity of just over 6
Container Shipping to Turn Up the Speed?
The number of idling ships in the container shipping sector has been reduced to almost zero. However, a question arises on what will be the next step on the supply side for container shipping, according to BIMCO. As the remaining issue in the sector are poor earnings with charter markets at record l
BIMCO: Supply Overtaking Demand in Dry Bulk Shipping
The outlook for 2015 looks a bit dull on the demand side for dry bulk shipping, whereas the supply side seems to provide the same amount of new capacity as in 2014, BIMCO forecasts. As explained, such a development will not improve the fundamental market balance and Supramaxes in particular seem to
IACS to Introduce Requirements on Structural Safety
Two new unified requirements have been developed by the International Association of Classification Societies (IACS) as a result of a post review on MOL Comfort sinking. The casualty of MOL Comfort which occurred on 17 June 2013 saw the vessel’s hull split in two. The two new requirements are: UR S1
VIDEO: Intelligent Ship Bridges
VTT Technical Research Centre of Finland and Rolls-Royce today unveiled their latest vision of Ship Intelligence – a futuristic ship’s bridge concept which could become reality by 2025. Rolls-Royce predicts that Ship Intelligence will be the next major transition for the shipping industry as ships a
Tallink Eyes LNG-Powered Car-Passenger Ferry
AS Tallink Grupp and Meyer Turku Oy inked a Letter of Intent for the construction of an environmentally friendly car-passenger ferry. The ship will cost around 230 million euros and will be built at Turku shipyard, with expected delivery slated for the beginning of 2017. The project will provide app
Value of Offshore Wind Installation Vessels Set to Soar
The global market value for offshore wind turbine and foundation installation vessels will increase more than fivefold, says research and consulting firm GlobalData. Namely, the market value is set to increase from an estimated USD 0.56 billion in 2014 to approximately USD 2.93 billion by 2020, repr