COSCO Shipping’s subsidiary Cosco Southern Asphalt Shipping has ordered four 7,500 dwt asphalt carriers from Chinese shipbuilder CSSC Chengxi Shipyard. The company said that the new ships would serve both short-range routes as well as the company’s long-range international routes. With these vessels
Sembcorp Marine Integrated Yard, a subsidiary of Singapore-based marine and offshore engineering group Sembcorp Marine, has entered into a sale and purchase agreement to acquire a 100% equity stake in Norwegian ship design and engineering company LMG Marin AS for USD 20 million. The consideration fo
Tokyo-headquartered shipbuilder Japan Marine United Corporation (JMU) has received orders for three Very Large Crude Carriers (VLCCs) from two buyers, according to data released by VesselsValue. Namely, Japanese shipping company JX Ocean placed an order for two VLCCs, while its compatriot shipowner
Alphaliner: Maersk Could Sell APM Terminals and Damco Danish shipping major Maersk Line’s container shipping related units, APM Terminals (APMT) and Damco, could be spun-off or divested entirely, following the company’s strategic and structural review, according to Alphaliner… Read More Update: Ferr
Norwegian shipbuilder and ship designer Vard Holdings Limited (Vard) has inked a USD 70 million contract for the design and construction of three Modul Carrier Vessels (MCVs) with Kazakhstan-based shipping company Kazmortransflot (KMTF). The vessels, of VARD 9 28 design, will be operated by KMTF thr
South Korea’s Samsung Heavy Industries (SHI) is looking to raise up to KRW 1.1 trillion (USD 982.9 million) through a rights offering in an aim to cut its losses and secure liquidity, the company said in a stock exchange filing. The company added that it plans to issue 159.1 million of new shares at
Japan-based shipbuilders have received only eight exporting orders during July 2016, representing a significant drop from 25 orders seen in the same month a year earlier, according to data released by Japan Ship Exporters’ Association (JSEA). The eight orders feature a total of 303,299 gross tons an
In a historically weak contracting environment the cruise sector has seen a strong level of newbuild ordering and investment in the year to date, according to Clarksons’ Shipping Intelligence Network. Cruise lines have continued to expand their fleets, with new markets such as China in their sights.
Singapore-listed shipbuilder Yangzijiang Shipbuilding has been served with three more terminations for shipbuilding orders during the second quarter of 2016, the company said in a stock exchange filing. The orders that were cancelled were for one 10,000 TEU containership, and two bulk carriers with
Aulong Shipbuilding, a joint venture company formed by Austal Limited and Guandong Jianglong Shipbuilding of Zhuhai, China, has won the first ferry contract to build a 42 metre high speed aluminium ferry for Chinese mainland operator Blue Sea Jet. Less than two months after the announcement of the j
Two Malaysian firms have joined forces to form a joint venture company in an effort to provide repair services of marine vessels which include dry docking repair, refit, refurbishment, maintenance and technical solutions at the ship repair facilities located in Kemaman, Terengganu. Namely, the count
Shipping company Navig8 Product Tankers has taken delivery of the 74,000 dwt LR1 tanker Navig8 Providence from South Korean shipbuilder SPP Shipbuilding. The Navig8 Providence is the second of four vessels contracted at SPP to be delivered to the company and is the second vessel to be delivered unde
Finnish shipbuilder Meyer Turku has launched the production of a new generation of Mein Schiff ships, being built for Hamburg-based cruise line TUI Cruises, with a steel cutting ceremony at the shipbuilder’s steel hall. The company’s new Mein Schiff 1, hull number NB-1392, will be around 20 meters l
One of South Korea’s biggest shipbuilders Samsung Heavy Industries reported a net loss of KRW 212.3 billion (USD 194.8 million) in the second quarter of 2016, compared to a net loss of KRW 1.15 trillion reported in the same quarter of 2015. Furthermore, the shipbuilder’s net loss for the first half
