Shipbuilding
Meyer Werft Wraps Up STX Finland Deal
Meyer Werft has joined forces with the STX Finland shipyard in Turku. After weeks of negotiations, the Finnish Government and Meyer Werft signed a share purchase agreement with the current owner STX Europe. With its 70% stake, Meyer Werft takes the industrial leadership of the new company. At pres
GSP Adds New PSVs
Grup Servici Petroliere (GSP), a Romania-based member of Upetrom Group, has decided to bolster its Platform Support Vessel (PSV) fleet by acquiring three new DPS-2 vessels. The PSVs are equipped with a DPS-2 positioning system and are built under ABS supervision, having class notation fire-fightin
Readers’ Picks of the Week (July 28 – Aug 1, 2014)
Australian Maritime Unions Standing Their Ground The Maritime Union of Australia (MUA) and the Australian Maritime Officers Union (AMOU) have confirmed they will push ahead with a legal challenge to the Abbott Government’s …Read more Costa Concordia Changes Hands The notarial deed establishing the t
EXMAR: VLGC Market Levels Historically High
The VLGC market has reached and is maintaining historically high levels, based on first semester results of the EXMAR Group, owner and operator of LNG and LPG carriers. According to the company, the recent freight upturn has been mainly driven by the arbitrage between US and Asian product prices,
US Sanctions against USC Not Fatal, but Still a Headache
The U.S. sanctions against Russian state-owned naval designer and shipbuilder JSC United Shipbuilding Corporation (USC) will make life difficult for the company, especially with respect to financial transactions with payments in USD, according to the Corp. President Alexey Rakhmanov. However, the sa
Fincantieri Still in Carnival Fever
Fincantieri and Princess Cruises, brand of US cruise group Carnival Corporation & plc. have reached an agreement to build a new cruiser ship for the company at an all-in cost for the shipowner of approximately 600 million euros (USD 804m). The 143,000-ton ship, which will enter service in 2017, wi
Strong First Half for Navios
Navios Maritime Partners L.P., an international owner and operator of drybulk and container vessels, has had a strong financial performance according to its financial results for the second quarter ended June 30, 2014. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, said
RS Turns to Baku Shipyard for Newbuilds
Russian Maritime Register of Shipping (RS) has signed a contract with Baku Shipyard LLC for the construction of three 38М high speed crew boats (designer – SHIPTECH, Singapore) for Azerbaijan State Caspian Sea Shipping Company. Construction is set to begin in August 2014 and the boats should be deli
GTT Technology to Feature on Yamal LNGC Newbuilds
GTT (Gaztransport & Technigaz) has disclosed the order of nine Liquefied Natural Gas Carriers (LNGC) which will be built by the Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME). Six new ships will be owned jointly by TEEKAY & CLNG and the three others will be owned jointly by MOL
Star Bulk Welcomes First Green Capesize
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, has taken delivery of M/V Peloreus, a 182,000 dwt Capesize built by Japan Marine United (JMU). The vessel is the first of six similar vessels ordered at JMU, with expected deliveries until the 3
Readers’ Picks of the Week (July 21- 25, 2014)
VIDEO: Float-On and Transport of Costa Concordia Onboard Dockwise Vanguard Following the successful parbuckling of Costa Concordia, and in anticipation of the pending refloat, Dockwise, a wholly-owned subsidiary …Read more Dockwise Vanguard to Transport Costa Concordia Wreck? Dockwise Vanguard may b
Capital Product Orders Big
Capital Product Partners L.P. has entered into a Master Vessel Acquisition Agreement with its sponsor Capital Maritime for three newbuild Daewoo 9,160 TEU eco-flex containerships at USD 81.5m for each vessel, and two newbuild Samsung eco medium range product tankers at USD 33.5m each. The three co
SAAB Finalizes Kockums Buy
Swedish defence and security company Saab has acquired Thyssen Krupp Marine Systems AB shipyard (TKMS AB formerly Kockums). “We are now beginning the integration of Kockums with Saab, focusing on reaching full capacity and we are starting work immediately with the orders placed by Sweden as well a
Demand for Ultra-Large Vessels Changes Course
Demand for newbuild containerships has dwindled during the month of June, as European traffic demand began to increase, heralding a changing course in the industry. The slowdown in growth of the orderbook, particularly amongst ultra-large vessels, marks a positive sign that improving demand could