Oslo-listed ship owner and operator Flex LNG has reached an agreement on a loan facility to finance three of its newbuildings, scheduled for delivery in the first half of 2018. The company received a firm offer for a USD 315 million term loan facility (TLF) on November 14, agreed to be drawn in conn
UK’s chemicals company INEOS has signed a long-term supply deal to deliver ethane from US shale gas to China, utilizing the world’s largest ethane carrier. The agreement, reached with SP Chemicals, will involve the construction of a very large ethane carrier (VLEC) which is expected to be delivered
China’s Cosco Shipping Energy Transportation has entered into agreements with Dalian Shipbuilding for the construction of HKD 4.32 billion (USD 553 million) worth of new ships. Under the deals, signed on November 20, the company ordered four very large crude carriers (VLCCs) and three Suezmax tanker
Finnish technology group Wärtsilä has been hired to supply engines, navigation system, and a broad scope of other products and systems for Viking Line’s new environmentally friendly ferry. The ship, which is being built at the Xiamen Shipbuilding Industry yard in China, will be powered by six Wärtsi
Indian Register of Shipping has launched a centre of excellence in shipbuilding and maritime sector to support commercial ship design for seagoing, coastal and inland waterways operation in India. Established in association with India’s Ministry of Shipping and Siemens, the Centre of Excellence in M
Readers’ Picks of the Week (November 13-17, 2017)
UAE-based Tomini Shipping, the shipping subsidiary of Tomini Group, has ordered three 82,000 dwt Kamsarmaxes from the Chinese shipbuilder Taizhou Kouan Shipbuilding. The vessels are scheduled for delivery in the second half of 2019 onwards and follow the company’s order from June for three newbuildi
The ship demolition market is plagued by a high level of uncertainty leaving the market analysts in limbo when it comes to discerning which direction the market will take. Despite the lack of tonnage, reports suggest that there is a general apathy from the actual ship recyclers making it very hard t
Höegh LNG has shared an image of its ninth FSRU floating at Hyundai Heavy Industries (HHI) shipyard in South Korea. Scheduled for delivery in the fourth quarter of 2018, the FSRU will have a storage capacity of 170,000 cubic meters and a max regasification capacity of 750 MMscf/day. With a gross ton
South Korean shipbuilder Hyundai Mipo Dockyard (HMD) has secured an order for a 50,000 dwt MR product tanker from clients of Monaco-based Central Shipping Group, Clarksons Platou Shipbroking reports. The ship will be built at HMD’s Ulsan facility and is slated for delivery in the first quarter of 20
Japanese shipping giant Mitsui O.S.K. Lines (MOL) has taken delivery of the coal carrier Nagara Maru from compatriot Imari Shipyard and Works of Namura Shipbuilding. The vessel, which will serve Singapore-based JERA Trading, was jointly developed by Namura Shipbuilding and MOL. The coal carrier pert
French shipbuilder STX France cut the first steel on Wednesday, November 15, for MSC Cruises’ first Meraviglia-Plus class ship, to be named MSC Grandiosa. The Meraviglia-Plus ships are a further evolution of the Meraviglia class prototype, increasing their gross tonnage to 181,000 GRT, 1,086 ft. in
Bermuda-based owner and operator of LNG carriers Teekay LNG Partners informed that its first LNG icebreaker recently completed gas trials. The company shared some drone photos of the newbuilding’s gas trials. Eduard Toll is Teekay’s first of six 172,000 cubic meter ARC7 LNG carriers being constructe
Due to the overall sluggishness in the offshore market, China State Shipbuilding Corporation (CSSC) opted to lighten part of the offshore burden of its subsidiary Shanghai Waigaoqiao Shipbuilding (SWS). Specifically, Shanghai Waigaoqiao will transfer seven jack-up rigs and four platform supply vesse
