The world’s first icebreaking liquefied natural gas (LNG) carrier Christophe de Margerie has been delivered to its Russian owner, shipping company Sovcomflot, according to South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME). Under the USD 320 million shipbuilding agreement signe
Fincantieri Oil & Gas, a subsidiary of the Italian shipbuilding conglomerate Fincantieri, has closed its offer for the ordinary shares of Vard Holdings Limited with valid acceptances for 74.45% of Vard’s share capital. The voluntary conditional general offer, which was launched in November 2016 in S
Greece-based shipping company Maran Tankers plans to order three very large crude carriers (VLCCs) from South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME), according to information provided by VesselsValue. Maran Tankers would pay USD 80 million for the construction of each of
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Labor union of the South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is ready to accept proposed wage cuts for workers, proposing talks with the government, the company’s management and creditors, which are aimed at finding a way to save the financially troubled shipbuilder, Y
Russian shipyard Krasnoye Sormovo, part of the United Shipbuilding Corporation, has launched the first of two chemical tankers ordered from compatriot shipping company Volgotrans. The 6,980 dwt tanker named Volgotrans-2701 features a length of 140.9 meters and a width of 16.7 meters. Scheduled for d
US-based shipping firm Bermuda Container Line (BCL) has signed a contract to have a new, custom, container vessel built to service Bermuda. The new ship is scheduled to be delivered in the first quarter of 2019, at which time BCL’s current container vessel, the 1990-built Oleander, will be retired.
The Netherlands-based BigRoll Shipping has taken delivery of BigRoll Beaufort, the last of four Module Class carriers, from China-based Cosco Dalian Shipyard. BigRoll Beaufort will enter a short-term project with Yamgaz, the consortium of Technip, JGC Corporation and Chiyoda for module transportatio
The creditors of financially troubled South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) have unveiled a new restructuring plan for the company, which includes KRW 2.9 trillion (USD 2.6 billion) of fresh funds. Namely, Korea Development Bank (KDB) and Export-Import Bank of Kore
DHT Holdings, Inc. has entered into an agreement to buy eleven very large crude carriers (VLCCs), including two newbuildings due for delivery in 2018, from BW Group Limited. BW Group’s vessels, which have a total value of USD 538 million, are scheduled to join their new owner during the second quart
Italian shipbuilder Fincantieri held the steel cutting ceremony of the first of three new cruise ships ordered by Virgin Voyages, a part of Virgin Group of companies, at its Sestri Ponente yard in Genoa on March 22. The new cruise ships, which will feature 110,000 gross tons, are expected to join th
Shipowners’ interest is being diverted away from the recycling market with secondhand vessel values rising, according to Clarksons. This causes new tonnage in the market to generate firm competition between cash buyers. The number of Capesize bulk carriers sold for demolition in the year to date is
VT Halter Marine launched on Monday Crowley Maritime Corp’s new Commitment Class ship El Coquí, one of the world’s first combination container/Roll on-Roll off (ConRo) ships powered by liquefied natural gas in Pascagoula, Miss. “We are extremely appreciative of all the work that has been accomplishe
Pressured by a slump in new shipbuilding orders, the South Korean shipbuilder Hyundai Heavy Industries (HHI) informed that it is looking to close another one of its dry docks at the Ulsan shipyard, the Korean newspaper Pulse reported. The facility in question is the 380-meter-long Dock 5, which has
