Athens-based dry bulk shipping company Diana Shipping has decided to cancel the shipbuilding contract for a Kamsarmax dry bulk carrier due to a delay in delivery. Namely, the company said that the cancellation was served in relation to the shipbuilding deal signed in April 2014 with China’s Yangzhou
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) intends to raise an additional KRW 700 billion (USD 612 million) through asset sales in 2016, as the shipbuilder expects to add up to five times less orders to its order book this year than initially projected, Yonhap News Agen
The fire is still ongoing at the Gadani shipbreaking yard in Pakistan following a series of explosions aboard an oil tanker on November 1, according to IndustriALL global union. The union added that up to 150 workers are still trapped inside the 1995-built tanker Aces, which supposedly ignited due t
Some ten workers were killed while over 45 others were injured in a chain of explosions which occurred earlier today at Pakistan’s Gadani shipbreaking yard, according to local media. At the time of the incident, some 100 workers were reportedly dismantling an unused oil tanker at the yard. The weldi
The first in a series of six liquefied natural gas (LNG) carriers, the CESI Gladstone, ordered by the joint venture of China COSCO Shipping Corporation Limited (China COSCO Shipping) and China Petroleum & Chemical Corporation (Sinopec), was delivered on October 31. Featuring a length of 290 meters a
Norwegian Odfjell has officially signed contracts for the construction of a series of four chemical tankers with stainless steel cargo tanks at China Shipbuilding Trading and Hudong-Zhonghua Shipbuilding. Featuring 49,000 dwt and a cargo capacity of 54,600 cbm, these vessels are said to be the world
The German Fair Trade Commission has approved the acquisition of Blohm+Voss shipyard in Hamburg by German shipbuilder Lürssen Maritime Beteiligungen. With the acquisition, Lürssen said it aims to strengthen its portfolio of services for repair and refit of yachts, naval and commercial ships as well
German shipbuilder Meyer Werft has cut first steel for Norwegian Cruise Line’s (NCL) new cruise ship, Norwegian Bliss, marking the start of the vessel’s construction. The Norwegian Bliss is the third ship in NCL’s Breakaway Pluss class and the first cruise vessel purposely built for the Alaskan regi
Rostock-headquartered ferry operator Scandlines has named M/V Copenhagen, the second of its two hybrid ferries for the Rostock-Gedser route. The naming ceremony took place at the Danish yard Fayard A/S on October 28, 2016. Scandlines said that M/V Copenhagen is currently undergoing a test program. I
South Korea’s government intends to provide funding of KRW 6.5 trillion (USD 5.7 billion) to help the country’s shipping companies renew their fleets, Reuters reported. The first step is the establishment of a state-backed ship financing company with an initial sum of KRW 1 trillion (USD 871.7 milli
One of South Korea’s biggest shipbuilders, Samsung Heavy Industries (SHI), has seen its net income surge to KRW 128.6 billion (USD 112 million) in the third quarter of 2016, from a net loss of KRW 212.4 billion (USD 185 million) reported in the second quarter of the year. The company’s operating pro
HSH: Maersk Line to Operate Six of Hanjin’s Boxships Six container ships of the bankrupt South Korean shipping company Hanjin Shipping Co. will now be operated by Danish shipping giant Maersk Line, according to Germany’s HSH Nordbank… Read More Somali Pirates Release Naham 3 Crew after Four Years Th
Indian private sector company Reliance Industries Limited (Reliance) has inaugurated its first two very large ethane carriers (VLEC) in a ceremony held in Geoje, South Korea. Constructed by Samsung Heavy Industries (SHI), the 80,000 cbm vessels Ethane Crystal and Ethane Emerald are said to be the la
Miami-based Norwegian Cruise Line (NCL) has revealed that the artwork named “Cruising with the Whales” will adorn the hull of its new cruise ship, Norwegian Bliss, which will start cruising to Alaska in June 2018. The artwork features an image of a mother humpback whale and her calf as the centerpie
