Turkish shipping company Yasa Shipping has been linked to the order of four Ultramax bulk carriers, including an option for a further four ships. The bulkers were ordered at China’s Jiangsu New Yangzijiang shipyard earlier this month, according to information provided by VesselsValue. Yasa Shipping
Japanese shipowner and operator Santoku Senpaku has ordered two 186,000 dwt bulkers from Chinese Shanghai Waigaoqiao Shipbuilding (SWS). The duo is slated for delivery in 2019, according to Intermodal Research and Valuations. The Japanese shipping company is said to be paying USD 45 million per vess
The cruise ship fleet is set to grow by 50 percent in the following ten years as cruise liners are expected to resume their ordering spree especially for the mega cruise ships. The current orderbook value stands at USD 47 billion, with 75 ships due for delivery by 2025. European shipbuilders still d
Out of 210 ships, which were broken in the second quarter of 2017, a total of 158 ended up on South Asian beaches for breaking, according to the latest report by NGO Shipbreaking Platform. The worst dumping country this quarter was Germany with 16 beached ships, a consequence of the multiple bankrup
Tokyo’s classification society ClassNK has issued a Statement of Compliance (SoC) to a ship recycling facility in Turkey, verifying that the facilities are in line with the Hong Kong International Convention. Although the HKC has yet to enter into force, the Izmir-based Isiksan Ship Recycling and Tr
Houston-based classification society ABS granted Approval in Principle (AIP) for a new MOSS-type LNG tank design concept developed by Japan’s Kawasaki Heavy Industries (KHI). According to KHI, the non-spherical design concept allows Panamax-size LNG carriers to expand their total carrying capacity t
Tanker management company Central Shipping Monaco has placed an order at Hanjin Heavy Industries & Construction (HHIC) in the Philippines for up to four 115,000 dwt tankers. The order includes two firm plus two additional Long Range 2 (LR2) tankers, valued at USD 45 million each, according to Interm
Offshore services company Bourbon has entered into a Memorandum of Understanding (MOU) with Automated Ships Ltd to support the building of the Hrönn, the world’s first autonomous, fully-automated prototype vessel for offshore operation. The project will also include the support from the project’s pr
Image Courtesy: Maersk Danish shipping giant Maersk Line has named its new H-Class ship, Maersk Horsburgh, in South Korea. The ultra large container vessel (ULCV) was built at Korean Hyundai Heavy Industries shipyard. With a deadweight of 162,100 tons, the newbuilding features a length of 353 meters
The prohibitive taxes announced in Bangladesh’s recent budget will be reversed for the next two years, at the very least, cash buyer of ships for recycling GMS said. Members of the Bangladesh Ship Breakers Association (BSBA) had reportedly lobbied the finance ministry since the initial announcement
Singapore-based Triyards Holdings Limited informed that it expects to report a net loss for the third quarter of the 2017 fiscal year ended May 31. In the company’s profit guidance, released with respect to the unaudited consolidated financial results for the quarter, Triyards’ board said that expec
The shipping industry saw USD 42.5 billion removed from the ship lending jar in 2016, according to Petrofin Research’s latest report on global bank ship finance. The fall has been mainly attributed to the removal of Commerzbank and Royal Bank of Scotland, the lower bank portfolios by many banks, as
Danish shipping company Evergas informed that Ineos Invention, the eight ‘Dragon Class’ multigas LNG carrier, has been named at Enterprise terminal in Houston. The naming ceremony for the company’s final 27,500 cbm vessel was held on July 6, 2017. Built at China’s Jiangsu New Yangzijiang shipyard, I
The implementation of the Ballast Water Management Convention (BWMC) has been a hot topic these days, especially since there are a lot of uncertainties surrounding the issue such as applicability dates, and installation costs, to name a few. Following the BWM Convention’s entry into force on Septemb
