Shipyards in Europe received in the first quarter of 2016 more orders than their competitors in Asia, German Shipbuilders and Ocean Industries Association Verband für Schiffbau und Meerestechnik (VSM) reports. Namely, out of USD 6.5 billion worth orders on a global scale placed in the first quarter
Asia/Pacific based owners could get back at the lead as largest market holders of the world fleet, thus reversing the recent trend that saw European owners at the forefront. Namely, Asia/Pacific based owners hold the largest proportion of the orderbook, 45.7%, with 23.2m GT more on order than their
Iceland’s Eimskip and Greenland-based Royal Arctic Line signed a letter of intent to connect Greenland into Eimskip’s international sailing system through a capacity sharing agreement involving larger vessels. Under the agreement, the companies plan to invest in and operate three approximately 2,000
In its latest attempt to fight liquidity woes, the financially-troubled South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) decided to sell its Seoul headquarters building for a price of KRW 180 billion (USD 152 million). The company entered into a leaseback agreement with Kor
Navig8 Product Tankers Inc has taken delivery of the Navig8 Grace, a 113,000 DWT LR2 tanker from China-based CSSC Offshore & Marine Engineering Company Limited, formerly known as Guangzhou Shipyard International Company. The Navig8 Grace is the first of eight vessels contracted at CSSC Offshore to b
Korean Register (KR) has signed a Memorandum of Agreement to establish a joint venture company with the Iranian Classification Society (ICS). The company will be called the ‘Iran-Korea Technology Assurance Company’, with 50-50 capital investment from KR and ICS and it is planned to be fully operatio
Danish Ship Finance: Shipyards Could Be Left without Orders by 2017 It is essential that new orders are placed within the next three to six months for the yard industry to fill up its orderbooks for 2017, according to Danish Ship Finance… Read More UASC to Vote on Hapag-Lloyd Tie-Up in June Dubai-ba
South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has reached an agreement with the Russian state-owned shipping company Sovcomflot to postpone the delivery of an ice-breaking liquefied natural gas (LNG) vessel which was scheduled to join its owner in June 2016. The shipbuil
Recent changes to the Canadian Federal government’s New Building Canada Fund (NBCF) aim at enabling significant investments in infrastructure systems, including ferry replacement and refits, paving way for ferry owners, operators and shipbuilders to benefit from this initiative. Ferry operators acro
In a colorful arrival, China Merchants Energy Shipping (CMES) welcomed yesterday its new very large crude carrier (VLCC) New Constant. The vessel’s naming and delivery ceremony was held at Dalian Shipbuilding Industries’ shipyard. The New Constant is a 319,000 dwt tanker, having a gross tonnage of 1
Finland’s container shipping firm Containerships has pushed the delivery of its first of four short sea LNG-powered vessels until early 2018 due to a change in the shipyard, the company said. The Chinese Yangzhou Guoyu Shipyard was initially entrusted with the construction, however the company did n
Philly Shipyard (PSI), part of Philly Shipyard ASA, held yesterday a keel laying ceremony for the second product tanker in a four-vessel order for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan. Once completed in 2017, the tanker will be 600 feet long and capable of carrying 50,000
Danish shipping and logistics company DFDS has entered into an agreement with the Siem Group to bareboat-charter two RoRo freight newbuilds for a five-year period, with an option to buy the vessels. The two ships will be built by German shipyard Flensburger Schiffbau-Gesellschaft that previously del
It is essential that new orders are placed within the next three to six months for the yard industry to fill up its orderbooks for 2017, according to Danish Ship Finance. The orderbook is rapidly approaching the low levels seen at the start of 2013, but 2016 looks to be a reasonable year for shipbui
