Zentech and Renewables Resources International (RRI) revealed plans to build the first Jones Act compliant, four-legged, self-propelled dynamically positioned level 2 (DP2) jack-up vessel based on a US-built barge. Zentech plans to install four truss legs with spud cans integrated into a newly built
Denmark has become the seventh country to accede to the international Hong Kong Convention in an effort to ensure better protection of people and the environment when ships are recycled. In mid-June the International Maritime Organization confirmed that Denmark expresses the wish to accede to the Ho
Cash-strapped South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has decided to proceed with the issue of convertible bonds into stocks within its economic bailout plan. Under the plan agreed in March with its creditors, the company will sell KRW 1.3 trillion (USD 1.14 billio
Industry bodies in China, led by HNA Technology Logistics Group and China Classification Society (CSS), have established what is now known as the unmanned cargo ship development alliance. Supported by experts from the ABS, DNV GL, Chinese ship and Marine Engineering Design Institute, Shanghai Marine
Shell’s Prelude floating liquefied natural gas (FLNG) project, the world’s largest offshore facility ever constructed, has started its journey from South Korea to Australia. According to AIS data provided by MarineTraffic, the 300,000 gross ton vessel departed Samsung Heavy Industry’s Geoje shipyard
Helsinki-based shipping company ESL Shipping, a member of the Aspo Group, has christened its new LNG-powered dry cargo vessel at the Jinling shipyard in Nanjing, China. As informed, the first of the two ordered vessels was christened Viikki in line with the shipping company’s tradition to name its s
Belgium’s LNG and LPG carrier owner and operator Exmar has secured a USD 200 million financing for its floating liquefaction unit Caribbean FLNG. The financing deal was reached with Bank of China, Sinosure and a leading European financial institution, according to Exmar. Currently under construction
Swedish tanker shipping company Stena Bulk has named Stena Impeccable, the tenth of thirteen IMOIIMAX tanker newbuildings. The christening ceremony took place at the Port of Rotterdam on June 28 where the 50,000 dwt vessel arrived at the beginning of this week. “The Port of Rotterdam is the largest
Cosco Shipping Energy Transportation (CSET) has signed a loan agreement with Export Import Bank of China (China EximBank) worth USD 543.9 million. As disclosed, the funds will be used to finance around 70 percent of construction of ten newbuild tankers. The newbuilding ships include seven VLCC and t
Nine very large crude carriers (VLCCs), acquired from the BW Group Limited, have been delivered to crude oil tanker company DHT Holdings. The vessels were purchased as part of a batch of eleven VLCCs, including two newbuildings due for delivery in 2018, in March 2017. DHT added that the contracts fo
France-based shipping company Brittany Ferries has confirmed the order for a new LNG-powered cruise ferry to be built at German Flensburger Schiffbau shipyard. The investment is part of the company’s investment budget of GBP 175 million (USD 222.9 million). In December 2016, the duo signed a letter
The newbuild activity for the first half of 2017 has surpassed the same period last year by 20%. A total of 5.9 million DWT was contracted in May 2017 and 3.1 million DWT so far in June 2017, which brings the total amount of newbuild orders up to 19.6 million DWT for 2017, BIMCO’s figures […]
Greece-based Enterprises Shipping & Trading (EST) has reportedly ordered four MR2 tankers at STX Offshore shipyard in South Korea. The company will pay for each of the four 50,000 dwt ships USD 32 million, VesselsValue’s data shows. The 10,570 gross ton newbuildings are scheduled for delivery in 201
China COSCO Shipping Corp has embarked on a major shopping spree, adding 14 ultra large containership newbuilds to its fleet. The investment comes as the company targets routes from Asia to Europe prompted by new free trade deals, as informed by the China Daily. Namely, the company bought six 21,000
