Global marine underwriting premiums in 2015 amounted to USD 29.9 billion, down by 10.5% compared to the 2014 figure, and the trend of uncertainty is expected to continue, the International Union of Marine Insurance (IUMI) has warned. Technical insurance results for the 2014 underwriting year deterio
German shipping major Hapag-Lloyd has ordered a total of 5,750 refrigerated containers (reefers), including five thousand 40-foot and 750 20-foot units, as it prepares to take delivery of five new 10,500 TEU vessels. The company said that 1,000 of the new containers will be equipped with ‘controlled
American Petroleum Tankers’ (APT) fourth ECO Class tanker, which is currently under construction at Californian shipbuilder General Dynamics NASSCO’s shipyard in San Diego, was christened on September 17. Named the Bay State, the tanker is the fourth vessel in a batch of five 50,000 deadweight ton,
Belgian dredging and marine engineering group DEME launched “the world’s most advanced” subsea cable installation and trenching vessel Living Stone at Spain’s LaNaval shipyard on September 18. The cable installation vessel is equipped with two turntables below deck, each having a 5,000 tons cable ca
BIMCO: Lowest Level of Newbuilding Contracts in 20 Years Shipyards become the next victim of the deteriorating conditions in the dry bulk, container and offshore markets as 2016 looks to set the record for the lowest newbuilding contracts in more than 20 years… Read More Hanjin Shipping Gets Cash In
Spanish oil and gas company Compañía Española de Petróleos (CEPSA) will supply liquefied natural gas (LNG) to ships through the first multi-product barge in Europe, to be built by its compatriot Flota Suardíaz. Cepsa will participate in the design and construction of the supply ship, which will be a
Reykjavik-based shipping company Eimskip has submitted an offer to build and operate the new Westman Islands car and passenger ferry. According to the public state tender, the new ferry should be delivered in mid-2018 and the company would then operate it until 2030. The total amount of Eimskip offe
The number of ‘active’ shipyards globally has more than halved since the start of 2009, falling to around 400 shipyards at the start of September 2016, with rapid growth in the total followed by steep decline all within the last decade, according to Clarkson Research. Global contracting surged by 78
Navig8 Chemical Tankers, a joint venture between the Navig8 Group and Oaktree Capital Management, has entered into a sale and leaseback transaction for two 25,000 dwt stainless steel chemical tankers being built by Japan’s Kitanihon Shipbuilding. Under the agreement, which was entered into with subs
Denmark is taking the first steps towards rules on scrapping ships as the country prepares new regulations to accede to the Hong Kong Convention, which ensures that ships are scrapped and recycled appropriately, according to the country’s minister Esben Lunde Larsen. “Scrap ships must not pollute Th
Sweden’s tanker shipping company Stena Bulk has taken delivery of a 50,000 dwt tanker, the Stena Immortal, from Chinese shipyard Guangzhou Shipbuilding International (GSI). The vessel is jointly owned on a 50-50 basis by Stena Bulk and Indonesian Golden Agri Resources (GAR) and is the eight of a tot
In today’s spotted we bring you an image of MV Symphony Performer (Nb. 433), the first in a series of two long range supply vessels being built by Dutch shipbuilder Ferus Smit for its compatriot shipping company Symphony Shipping. According to Ferus Smit, the ship will be launched at its shipyard in
Shipyards become the next victim of the deteriorating conditions in the dry bulk, container and offshore markets as 2016 looks to set the record for the lowest newbuilding contracts in more than 20 years, according to BIMCO. After a decline from 2010 to 2012, shipbuilding had a rebound in 2013 and w
On September 12, 2016, Swedish tanker owner Terntank took delivery of M/T Ternfjord – the second in a series of four 15,000 dwt chemical tankers with a dual-fuel two-stroke engine being built by China’s Avic Dingheng Shipbuilding. M/T Ternfjord left the shipyard one day later to load cargo destined
