Norwegian company Stream Tankers has placed an order for two 19,900 dwt chemical tankers at the Japanese shipbuilder Fukuoka Shipbuilding on July 5, according to data provided by VesselsValue. The vessels are scheduled for delivery in 2018 and 2019, respectively. Under the contract, the company has
Fincantieri, CSSC Tap Into China’s Growing Cruise Industry Italian shipbuilder Fincantieri and China’s shipbuilding conglomerate China State Shipbuilding Corporation (CSSC) have signed an agreement for the constitution of a joint venture… Read More Vale Sells Three Valemaxes for USD 269 Mn Brazilian
Danish shipping company TORM has entered into a financing agreement for four LR2 newbuildings scheduled for delivery in 2017 and 2018. The financing agreement for the 114,000 dwt vessels is for an amount of up to USD 115 million. TORM concluded the deal, which runs for twelve years, with The Export-
The construction works on the Prelude floating liquefied natural gas (FLNG) project resumed immediately after a small fire which occurred at the site in Samsung Heavy Industries’ Geoje shipyard, South Korea, where the vessel is being built, according to a spokesperson from the oil and gas giant Shel
KS Investments Pte Ltd, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, has entered into a shareholders agreement with Shell Eastern Petroleum, a part of Royal Dutch Shell, to form a joint venture company which will establish an LNG bunkering business in Singapore. The joint venture’s pri
Norwegian expedition cruise operator Hurtigruten has christened its new explorer ship, MS Spitsbergen, in Svolvær, Lofoten. Having a speed of 17.1 knots, MS Spitsbergen will be equipped and adapted for sailings in polar waters. With its gross tonnage of 7,344 tonnes, the vessel is 100.54 meters long
The European Community Shipowners’ Associations (ECSA) and the International Chamber of Shipping (ICS), which represent over 80% of world merchant tonnage, have rejected the concept of the ship recycling license, developed by consultants for the European Commission. According to ECSA, if proposals t
The former Chief Executive Officer of Daewoo Shipbuilding & Marine Engineering (DSME), Ko Jae-ho, was called in for questioning as part of an accounting probe into the financials of the South Korean shipbuilder, according to The Korea Times. Ko Jae-ho, who was at the helm of the company in the perio
Holding company Genting Hong Kong Ltd has renamed the three shipyards in the German State of Mecklenburg-Vorpommern, which were bought in April, to MV Werften, which will focus on building large new cruise ships. Lloyd Werft, located in Bremerhaven and bought last September, will focus on its prior
Ships regardless of their flag should not be allowed to call at any EU port without a ship recycling license to incentivise sustainable ship recycling, the NGO Shipbreaking Platform cited a report from the European Commission. The report, written by Ecorys, classification society DNV-GL and the Eras
Shipping company Ilshin Shipping has placed an order for a 50,000 dwt liquefied natural gas (LNG) fueled bulk carrier at the South Korean shipbuilder Hyundai Mipo Dockyard. The parties did not disclose the financial terms of the contract, however, they did reveal that the vessel is scheduled for del
A joint venture between China’s shipbuilding conglomerate China State Shipbuilding Corporation (CSSC) and the Italian shipbuilder Fincantieri plans to invest some USD 3.7 billion to build five cruise ships, according to local media. The first vessel from the batch, which will be able to carry up to
Japan’s Kawasaki Kisen Kaisha, Ltd. (“K” Line) and “K” Line Pte Ltd. (KLPL) have signed ship building contracts for three next generation Very Large Crude Carriers (VLCCs) and two Aframax tankers. Orders for two 311,360 dwt VLCCs were placed by “K” Line with Kawasaki Heavy Industries, Ltd. (KHI). Th
Norwegian ship-owner Ocean Yield ASA has formally acquired 49.5 percent in six newbuilding mega boxships owned by Quantum Pacific Shipping, a part of Quantum Pacific Group. The company’s investment in the 19,500 TEU vessels being under construction at Samsung Heavy Industries was announced on June 2
