Japanese shipbuilder Mitsubishi Heavy Industries, Ltd. (MHI) has reached a basic agreement with its compatriot Oshima Shipbuilding as part of efforts to form an alliance in the commercial ship business. The deal aims at establishing a technical alliance to focus on development of new ship designs an
In an effort to improve its financial situation, the South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering unveiled its plans to sell KRW 793 billion (USD 702.2 million) worth of new shares. According to a stock exchange filing, DSME’s shares will be sold to the company’s main creditor,
Video Courtesy: Royal Caribbean The newest member of Royal Caribbean International’s Oasis class of ships, Symphony of the Seas, is now one step closer to full completion as its April 2018 debut approaches. With the exterior now complete, the ship was floated out of its dry dock at STX France shipya
China-based shipowner Xin Yuan Ocean has opted to order a small dirty tanker, with an option for another vessel of the same kind, from a compatriot shipbuilder Fujian Mawei Shipbuilding. According to data provided by VesselsValue, the company placed the order for the new ship on June 7. The vessel i
Danish shipping and logistics company DFDS informed that Tulipa Seaways, the second roll-on/roll-off (RoRo) vessel built at German-based shipyard Flensburger Schiffbau-Gesellschaft, has been launched. Following its naming which took place on June 9, the newbuilding was launched from the construction
The National Shipping Company of Saudi Arabia (Bahri) has taken delivery of Maharah, a 300,000 dwt very large crude carrier (VLCC), from South Korean shipbuilder Hyundai Heavy Industries (HHI). The newbuilding was handed over to Bahri during a delivery ceremony held at HHI Mokpo shipyard in South Je
The United Arab Emirates-based shipping company Tomini Shipping has ordered three Ultramax bulk carriers from China Shipping Industry (Jiangsu), according to data provided by VesselsValue. Slated for delivery in 2019, the vessels will feature a deadweight of 64,000 tons. Although the value of the or
Japanese shipbuilder Imabari launched its first of the 20,000 TEU-type containerships built for compatriot shipping company Mitsui O.S.K. Lines (MOL) at the Saijo shipyard on June 9. The 20,150 TEU newbuilding, which features a length of 400 meters and a width of 58.5 meters, is one of two ultra lar
Norwegian transportation company Fjord1 has placed an order for construction of five new ferries at Havyard Ship Technology’s shipyard in Leirvik i Sogn. The ferries, featuring design from Havyard Design & Solutions, shall be delivered in 2018 and 2019, and the total contract value is in excess of N
US-based Philly Shipyard, Inc. (PSI) is in advanced talks with a Jones Act operator to establish a new shipping service in the Hawaii containership trade with up to four new vessels. The containership trade between the US mainland and Hawaii is currently serviced by only two carriers and is reliant
The oversupply of tonnage in the shipping industry should be left to sort out itself, it was concluded at a panel debate on Ship Oversupply and Accelerating Sustainable Recycling, held on June 6 in London, UK. Over the past eight years, the world fleet has grown by 50 percent in tonnage terms, which
Petroleum and chemical tanker owner AET Tankers has held a double naming ceremony of two long-range (LR2) petroleum tankers built by South Korean Hyundai Heavy Industries (HHI). Christened at HHI’s yard in Gunsan, Korea, Eagle Lyon and Eagle Le Havre will both qualify for the Green Passport notation
South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) has collected KRW 400 billion (USD 356 million) of investment through its pre-initial public offering. Coming from the local private equity company IMM Private Equity (IMM PE), the investment is more than the initially planned KRW 300 bi
Palmetto State, the eight and final tanker constructed at US-based shipyard General Dynamics NASSCO, was delivered to American Petroleum Tankers (APT). The shipbuilder said that the LNG-ready ECO Class tanker, one of the most fuel-efficient product carriers to enter the Jones Act trade, was handed o
