As the International Association of Classification Societies (IACS) reviews its work programme it is significant the member societies will be paying some attention to what has become known as “complex on board systems”, Watchkeeper writes. Increasingly, ships are becoming dependent on these comple
Ordering of new units has kept its steady pace with 32 contracts, Shiptrade Services S.A. said in its Weekly Market Report. The preferred vessels on order were dry bulk carriers, with eight new orders for 19 bulkers, while on the wet front, interest mainly focused on the gas segments. Oldendorff has
Despite the overcapacity of ships on the market, which has been a hot topic recently, the newbuilding orders for ships don’t seem to be toning down. When speaking about bulk carriers, Pan Ocean has placed an order for two firm 207,000 DWT Newcastlemaxes at New Times, with both vessels due to deliv
Overall confidence levels in the shipping industry fell slightly during the three-month period to May 2014 but remain at their second-highest level for the past six years, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. Expectatio
The International Association of Classification Societies (IACS) has updated its forward strategy and work plan for the upcoming year at its 69th Council meeting held in Santa Margherita, Italy, chaired by Roberto Cazzulo, Chairman of RINA Services and outgoing IACS chairman. During the three days o
MacGregor, part of Cargotec, has received further orders, worth around $50m, for optimised cargo handling systems from Hyundai Heavy Industries Co Ltd in South Korea. The latest contract stems from the United Arab Shipping Company (UASC) exercising its options for six more A-14-series and one more A
United Arab Shipping Company S.A.G. (UASC) has concluded a bilateral facility worth USD 190 million with Burgan Bank’s Corporate Banking Group to finance the acquisition of two 14,000 TEU vessels forming part of UASC’s newbuilding order of seventeen vessels, comprised of eleven 14,000 TEU vessels an
China Rejects P3 Network, Plan Abandoned The Ministry of Commerce (MOFCOM) of the People’s Republic of China denied support to the P3 Network, proposed by Mærsk A/S (Maersk Line) together with MSC Mediterranean Shipping Company S.A. and CMA CGM S.A. The MOFCOM’s decision follows a review under China
Dubai, Abu Dhabi and Fujairah have big maritime ambitions as it became evident this week at the world’s most prestigious shipping event, the biennial Posidonia Exhibition. A total of 36 shipping industry magnates from the desert nation lined up their highly diverse marine offering on the 35,000 sq m
HM Naval Base in Portsmouth was lit up red, white and green as BAE Systems handed over the third of three new warships to the Royal Navy of Oman. AL RASIKH is a 99 metre corvette designed, built and delivered as part of Project Khareef. The Interim Acceptance ceremony was attended by dignitaries fro
United Arab Shipping Company S.A.G. (UASC) has announced the conclusion of a bilateral, USD 190 million facility with Burgan Bank’s Corporate Banking Group to finance the acquisition of two 14,000 TEU vessels. The facility is a part of UASC’s new building order of seventeen ships, among which are el
Drydocks World and Dubai Maritime City (DMC), as a part of the “Green Economy for Sustainable Development” initiative launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of UAE, has entered into MoU with Wartsila and Dubai Carbon Centre of Excellence for building the world
ASRY, a ship and rig repair yard in the Arabian Gulf, has welcomed a new dedicated living quarters outfitter and HVAC facility operated by the UAE-based Seven Seas within the yard. The facility includes a metal fabrication workshop, a carpentry workshop, offices and stores, and will increase the var
Over the past 30 years, Dubai-based Grandweld Shipyards has grown in parallel in the field of shipbuilding and ship repair industry. “We are celebrating 30 years of success because of our employees’ dedication to excellence and because of the support from our clients and shareholders. We are filled
