Shipbuilding
JBIC Bankrolls Ultrabulk’s Newbuilding Pair
The Japan Bank for International Cooperation (JBIC) has agreed to finance two Handysize bulk carriers ordered by Ultrabulk Shipping A/S Group, a member company of Chile-based shipholding group Naviera Ultranav Limitada (Ultranav), and operator of the group’s bulk carriers based in Denmark. The USD 3
Steel Cut for Sovcomflot’s Gas Carrier
Steel was cut on Monday, September 29 for the pilot gas tanker ordered by Sovcomflot Group, Russia’s largest shipping company, for transportation of LNG under Yamal LNG project. The vessel is being built by South Korean Daewoo Shipbuilding and Marine Engineering. The tanker will be operated under a
One More for Dorian
New York Stock Exchange-listed Dorian LPG Ltd., an owner and operator of Very Large Gas Carriers (VLGCs), has taken delivery of the ECO VLGC “Corsair” from Hyundai Heavy Industries. The “Corsair” will initially trade in the spot market and is the second newbuilding to be delivered to the company thi
Navig8 Grabs Eco Tanker Couple
Navig8 Chemical Tankers Inc. has signed resale purchase agreements with an unnamed agribusiness group to purchase two ECO 49,000 dwt chemical tankers currently under construction at Hyundai Vinashin Shipyard Co. Ltd. The tankers were originally ordered by the agribusiness group, speculated to be Wil
Scorpio Tankers Forges Ahead with Fleet Expansion
Monaco-based tanker owner Scorpio Tankers Inc has taken delivery of four newbuilding vessels and agreed to time charter-in an LR2 product tanker that is currently under construction in South Korea, the company said. The following vessels have joined Scorpio’s tanker fleet: STI Orchard, an LR2 produc
Siem Industries Takes Over FSG Shipyard
The German Shipyard Flensburger Schiffbau-Gesellschaft (FSG) has found a new owner. The Norwegian controlled Siem Industries will take over command of the shipyard, including all its employees. Peter Sierk and Frank Bywater, the two Managing Directors of FSG, welcomed these recent developments. “We
Offshore Renewables Vessel Construction Guideline Released
The UK’s Crown Estate and the Energy Institute (EI) have collaborated on the development of the publication ‘Construction vessel guideline for the offshore renewables industry’ to support the safe and successful delivery of offshore renewable energy projects in the UK, The Crown Estate says in a rel
MSC Armonia’s Comeback Set for November
MSC Armonia, the first of four MSC’s cruise ships to be enlarged and enhanced under the €200m Renaissance Programme, will be relaunched on 19 November for an inaugural cruise. MSC Armonia’s comeback cruise will depart from Genoa, Italy, on 19 November 2014 with her sights set on Las Palmas in the Ca
Carnival’s Results Better than Expected
British-American owned cruise line Carnival Corporation & plc has raised its expectations for the full year 2014 net revenue yield amid improvement in booking trends. “The sustained improvement in booking trends as we have progressed through the year combined with yield increases in the second half
Containerships to Pioneer LNG Shortsea Shipping in Europe
Finnish cargo shipping company Containerships has ordered two additional dual-fuel engine container ships from Yangzhou Guoyu Shipyard in China. The Finnish end-to-end cargo operator announced earlier this year an order of two similar vessels. The company says it will be the first shortsea container
Maersk Line to Spend USD 3 Bn a Year on Newbuildings
Maersk Line plans to set aside close to USD 3 billion a year for the period 2015-2019 to finance shipbuilding projects, in an effort to further solidify its position of the shipping company with the largest operating fleet, Reuters reports. “The current orderbook (is) not sufficient to grow with the
Shipping Needs a Steve Jobs
The shipping industry is ready for the introduction of new technology, all we need is a new generation of tech-savvy middle and senior managers, says Dr. Martin Stopford, author of textbook Maritime Economics. “The introduction of new technology is hindered by the industry’s current wide-spread lack
Maritime Opportunities Buys Two, Cancels Two Bulkers
Norwegian investment company Maritime Opportunities (MO) has bought two supramax bulk carriers from German Banks for USD 45 million, while cancelling contracts for two 36,000 dwt bulker newbuildings at Samjin Shipping Industries (SSI), China. The two 57,000 dwt bulkers Emerald Strait and Endeavour S
Safe Bulkers Takes Loan to Finance Newbuildings
Safe Bulkers, Inc., an international provider of marine dry bulk transportation services, has entered into a USD 210 million, six-year credit facility agreement with Norway’s DNB Bank ASA, secured by ten vessels. Athens-based Safe Bulkers will use the new credit facility to finance the acquisition o