Shipbuilding
Fred. Olsen Prepping Its Ships for Winter Cruises
Fred. Olsen Cruise Lines’ three ships Black Watch, Braemar and Balmoral are all due to enter dry dock at the Blohm+Voss shipyard in Hamburg, Germany in November and December 2014. The drydocking will prepare the vessels for the forthcoming 2015/16 cruise season. According to the Norwegian-owned crui
TEN Secures Charter for Its Newbuild
Greek tanker operator Tsakos Energy Navigation (TEN) has secured a long-term time charter with a national oil company for its new DP2 Suezmax shuttle tanker scheduled for delivery in the first quarter of 2017, with an option for a second vessel. As explained by TEN, shuttle tankers are a highly spec
Carnival Boosting Fleet Capacity
The world’s largest cruise ship operator Carnival Corporation & plc said it would increase fleet capacity by nearly 10 percent from 2014 through 2016, fueled largely by the addition of four new ships across four brands in less than 18 months. This week, Carnival Corporation is christening two new sh
Höegh LNG Rides the FSRU Wave
Höegh LNG Holdings Ltd. has declared the option for a fifth Floating Storage and Regasification Unit (FSRU) at Hyundai Heavy Industries (HHI) in South Korea. The FSRU, which will be delivered during the first half 2017, has full trading capability and increased regasification capacity compared to th
Evergas Adds Two More to Its Dragon Fleet
Liquid gas transporter Evergas has reached an agreement with INEOS to expand its newbuilding series of ethane/multigas vessels from six to eight units. In January 2013, Evergas announced for the first time that it had secured shipping agreements of up to 15 years with INEOS for the world’s first tra
Navigator Adds Two
Navigator Holdings Ltd. has ordered two 22,000 cubic meter semi-refrigerated liquefied gas carriers at Hyundai Mipo Dockyard in South Korea at a construction cost of USD 51 million each, the company said in a release. Navigator, owner and operator of a fleet of Handysize liquefied gas carriers, expe
Bureau Veritas Issues Underwater Radiated Noise Notation
International classification society Bureau Veritas has developed a voluntary notation intended to assist shipbuilders and operators reduce underwater noise radiating from ships. The comprehensive set of standards and measuring services is grouped as NR614 Underwater Radiated Noise (URN). It aims to
Clarksons: Tankers Had Lower Life Expectancy than Bulkers
The tanker fleet has phased out quite rapidly, according to the latest Clarksons’ review on demolition of ships. Different trends have been recorded over the recent period that saw various types of ships retired and scrapped at different ages, with some ship reaching up to 30 years of service. Howev
Readers’ Picks of the Week ( 27th-31st Oct)
Euro Banks to Increase Bad Shipping Loan Provisions by Quarter European banks need to increase their provisions for bad shipping loans by 25%, to EUR 7.3 billion (USD 9.25bn), according to the European Central Bank’s (ECB) year-long examination of the resilience and positions of the 130 largest bank
Wärtsilä, Diesel United Extend Cooperation
Wärtsilä and Diesel United Ltd in Japan have signed a ten-year renewal of their co-operation agreement for the sale, manufacturing and servicing of Wärtsilä low-speed marine engines. The renewal was signed on the 66th anniversary of the signing of the licence by Diesel United for Sulzer low-speed ma
CMA CGM Continues with Bulbous Bow Retrofits
The CMA CGM Group will retrofit 10 of its vessels’ bulbous bows in order to continue improving its fleet’s energy efficiency and reduce environmental footprint. The bulbous bows exchanges that are performed within a week in repair yards’ drydocks reduce significantly the ship’s fuel consumption and
Ultramax Newbuild Ready for Charter
Drybulk operator Baltic Trading Limited has taken delivery of the Baltic Hornet, a 64,000 dwt Ultramax newbuilding. The Baltic Hornet is the first of four Ultramax vessels to be delivered to the company under previously announced agreements with Yangfan Group Co., Ltd. The Baltic Hornet is expected
DSME Strikes Again
South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) has won orders for three container ships with a total value of USD 466.4 million from an unnamed European shipowner, the company said in a Korea Exchange filing. The announcement comes one day after the company sealed the deal to build tw
124 Oil Tankers to Join Global Fleet in 2014
Some 124 vessels are expected to enter the oil tanker trading fleet in 2014, while 60 tankers were forecast to be sold for demolition or conversion, according to the latest report by McQuilling Partners. Through 3Q 2014, based on the forecast, 93 vessels should have delivered to the fleet and 60 tan