French shipping giant CMA CGM has ordered four 3,300 TEU container vessels from the Chinese COSCO (Zhoushan) Shipyard, a subsidiary of COSCO Shipyard Group. Under the contract signed between the parties, the new containerships are scheduled for delivery between March 31, 2018 and August 31, 2018. CO
The National Shipping Company of Saudi Arabia (Bahri) has signed a joint development agreement (JDA) with Saudi Arabian Oil Company (Saudi Aramco), Maritime Offshore Limited, a subsidiary of UAE-based oil rig constructor Lamprell, and South Korean shipbuilder Hyundai Heavy Industries on establishmen
Irish Ferries’ parent company, Irish Continental Group has signed an agreement with German shipbuilder Flensburger Schiffbau-Gesellschaft to construct a new cruise ferry costing EUR 144 million (USD 161 million). The cruise ferry will be able to accommodate 1,885 passengers and crew, with a car deck
South Korean shipping company Heung-a-Shipping has placed an order at compatriot shipbuilder Dae Sun Shipbuilding and Engineering Co for two small clean chemical/product tankers. The 6,500 DWT duo is slated for delivery in 2018 from the yard. The value of the contract has not been disclosed. The shi
Tanker owner and operator Frontline has secured a commitment for a senior secured term loan facility worth up to USD 328.4 million with China Exim Bank that will be used to finance eight newbuildings. Specifically, the facility will be secured by four Suezmax tankers and four LR2 tankers, it matures
Tokyo-headquartered shipbuilder Japan Marine United Corporation (JMU) has increased its orderbook as it received a contract to build a 10,000 gross ton RoRo vessel, according to data provided by VesselsValue. Under the contract, signed with an undisclosed buyer on May 27, the new 6,200 dwt ship is e
On May 27, Queen Mary 2 docked at Hamburg’s terminal Steinwerder carrying 2,000 passengers. In the next few weeks, the cruise ship will undergo a major refit – the biggest in its 12-year history – at German Blohm+Voss shipyard. The video shows the cruise ship being pulled by a tug into the dry-dock
In today’s spotted we bring you the Academician Pashin – the first tanker built for the Russian Navy since the end of the Soviet Union. The vessel was launched at Nevsky Shipyard on May 26. Nevsky says Academician Pashin is the biggest vessel ever launched at this shipyard. Its construction was carr
UAE-based Tristar Group held on May 28 a naming ceremony for the Silver Manoora, the first of six MR product/chemical tankers ordered from South Korean shipbuilder Hyundai Mipo Dockyard (HMD). “This is indeed a red letter day for Tristar. Today we are proud owners of a brand new ship with five more
South Korean cash-strapped shipbuilder STX Offshore & Shipbuilding Co. has filed for court receivership with the Seoul Central District Court, Yonhap news agency informs. The Friday filing came as creditors decided to end their years-long financial aid to the yard, especially since the company lacks
Finnish engineering company Wärtsilä has been awarded the contract to provide integrated turnkey electrical solutions for four new RoRo ferries being built at the Flensburger Schiffbau-Gesellschaft (FSG) in Germany. The vessels are contracted by SIEM RoRo Carriers and two are to be chartered to Denm
Interview: Ship Value in Almost All Sectors Close to Historical Lows In May 2011, the mapping, ship search and valuation provider, VesselsValue launched its business operation, introducing a new approach to vessel valuation coined the quantitative analysis… Read More European Shipyards Overtake Asia
Japanese shipping company NYK Line has ordered two Very Large Gas Carriers (VLGCs) for transportation of liquefied petroleum gas from its compatriot Japan Marine United Corporation (JMU). The two 84,000 cbm newbuilds are slated for delivery in January, 2019 and are priced at USD 75 million each, acc
Following a scrapping spree witnessed in the first quarter of the year, the Baltic Dry Index’s (BDI) positive effect on capacity being removed from the fleet did not continue into the second quarter of 2016, as capesize demolition came to a halt, according to BIMCO. The BDI went from “devastating” i
