The shipping industry may collectively need to spend around USD 100 billion in order to install the new ballast water treatment systems that will be required by law in order to become compliant with the Ballast Water Management (BWM) Convention that will enter into force on September 8, 2017. Esben
Finnish shipbuilder Meyer Turku is more than doubling its investments to EUR 185 million (USD 220.6 million) from the previously planned EUR 75 million. The new investments include a new plate cutting line, a new profile cutting line and a new panel line to the steel halls of the shipyard. These new
Singapore-based Triyards Holdings Limited said it was reassessing its ability to continue or to complete current projects with the existing financial resources available as it is experiencing liquidity shortage. The financially-troubled shipbuilder is “experiencing difficulties in gaining access to
Japan-based K Line Kinkai and Kawasaki Kisen Kaisha (K Line) have decided to team up in a joint study related to a newbuilding passenger ferry being fueled by liquefied natural gas (LNG). The work would focus on specifications, engine types and related technical verifications for LNG handling aboard
Dutch shipbuilder Royal IHC has signed a letter of intent (LOI) with Subsea 7 S.A. for the construction of a new reel-lay vessel and associated pipe lay equipment. The construction cost is expected to be below USD 300 million, Subsea 7 said, adding that the ship is scheduled for an early 2020 delive
Oldendorff Carriers has renewed two newbuilding contracts, which were concluded originally in June 2012 with Weihai-based Samnjin Shipbuilding Ind. (SSI). The initial order, comprising four 36,000 DWT Handysize newbuildings of the FESDEC-36k eco type, was canceled in 2014 and 2015 after excessive de
Japanese marine transportation company Nissen Kaiun has placed an order for ten 82,000 DWT bulk carriers at compatriot shipyards, shipbroking firms indicate. Under the deal valued at USD 270 million, Tsuneishi Zosen Shipbuilding has been hired for the construction of five vessels, while Imabari Ship
Samsung Heavy Industries (SHI) has joined forces with Inmarsat under a Memorandum of Understanding (MoU), establishing a relationship to leverage the ‘smart ship’ connectivity offered by Fleet Xpress at the vessel construction stage. Under the deal, the South Korean yard would install Inmarsat-appro
Australian shipbuilder Austal has received its first commercial vessel contract, valued at AUD 44 million (USD 35 million), in Taiwan. The contract is for two 550 passenger, 50-meter high speed catamarans, designed and built by Austal for Taiwan’s Brave Line. The contract includes an option for a th
Greek tanker owner Aegean Shipping Management S.A. has signed an order with Chinese Cosco Shipping Heavy Industry for up to eight 82,000 DWT Kamsarmax bulk carriers, thus venturing into the dry bulk sector. The order comprises four firm and four optional ships in a 4+2+2 series to be constructed by
South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) said in a stock exchange filing that it was in discussions on changes to the delivery schedule for a liquified natural gas (LNG) carrier pair. The two ships were ordered by an unnamed European owner in October 2014 and were s
Dutch coastal shipping company Thun Tankers has declared the option for a fifth tanker to be added to the previously contracted four product/chemical tankers. The additional order comes only months after the company decided to expand its fleet with four new 17,500 dwt IMO II tankers. The five vessel
Viikki, the new eco-friendly dry cargo vessel of Finnish dry bulk shipping company ESL Shipping, part of Aspo Plc, was launched on August 31 in China. “The longstanding work in this project becomes concrete today when we see the vessel floating for the first time. There is still a lot of work ahead
The third 21K TEU+ size containership owned by Hong Kong’s shipping company Orient Overseas Container Line (OOCL) has been named as the OOCL Japan at the Samsung Heavy Industries shipyard in Geoje Island. The naming ceremony, held on September 1, comes in less than two weeks from OOCL Germany’s chri
