India’s port developer and operator Adani Ports and Special Economic Zone Ltd (APSEZ) has received a nod from the government of Tamil Nadu on its plans to purchase the Kattupalli port in Chennai, India’s newspaper LiveMint writes quoting unnamed government sources. The approval comes on the back of
The National Shipping Company of Saudi Arabia (Bahri) has signed a Murabaha Facility Agreement, an Islamic financing using Murabaha Structure, with Riyad Bank that will be used to finance the construction cost of five Very Large Crude Carriers (VLCC) ordered in May 2015. The value of the Murabaha Fa
A Maersk’s newbuild recently made its way from Poland to Kleven Yard in Norway. There would be nothing unusual about this, except for the fact that the ship was transferred – in parts. The photo shows the ship’s modules neatly stacked onboard an Ugland barge, towed by the Svitzer tug Frigga to the y
China’s Cosco Guangdong Shipyard has delivered the new livestock carrier Greyman Express to the Dutch shipping company Vroon. Greyman Express, which was named at the shipyard on March 18, is the sixth and penultimate vessel in Vroon’s newbuilding programme. The livestock carrier was launched at the
NYSE-listed dry bulk owner and operator Scorpio Bulkers has reached an agreement to decrease its newbuilding orders by cancelling a shipbuilding contract for a Kamsarmax bulk carrier. The company said that it has been released of any and all obligations and rights arising out of the shipbuilding con
Carnival Corporation & plc has finalized contracts with the Italian shipbuilder Fincantieri S.p.A. to build five new cruise ships as part of a memorandum of agreement signed in 2015. The five new ships include two that will be built for Costa Asia for deployment in China, two ships for Princess Crui
Drunken Captain Grounds Ship off Rostock, Germany Dutch cargo ship Abis Bergen ran aground on Saturday, March 26th at the entrance of the German port of Rostock blocking the access to the port while its captain was under … Read More Hanjin Shipping Moves Forward with Sale of London Office South Kore
South Korean shipbuilding major Daewoo Shipbuilding and Marine Engineering (DSME) will do everything possible to secure an order in the second quarter of the year, Yonhap reports citing the builder’s chief executive officer Jung Sung-leep. The announcement was made at DSME’s shareholder meeting on W
Aside to South Korean shipbuilding majors, GAIL India’s USD 7 million tender for nine LNG carriers has reportedly sparked the interest of Japanese shipowners. Specifically, a consortium comprising Japanese shipping companies Mitsui O.S.K. Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK Line) and Mit
The Canadian Shipping Federation has urged the federal government to allocate investment funds in its 2016 budget to the renewal of the Canadian Coast Guard’s icebreaking fleet. According to the Shipping Federation, which represents the owners, agents and operators of ships involved in Canada’s worl
China’s newly established shipping major, China COSCO Shipping Corporation (COSCOCS) has signed a contract with China State Shipbuilding Corporation (CSSC) in Shanghai that will see the construction of ten 400,000-tonne VLOCs. The ore carriers will be built by the group’s Shanghai Waigaoqiao Shipbui
This year’s April Fools’ Day was no joke for the Dutch shipbuilders at Royal Bodewes Hoogezand shipyard, situated on the outskirts of Groningen, as they seized the day to launch Arklow Shipping’s newbuild, the Arklow Valiant. However, the ship did splash the surrounded spectators as it slipped into
Italian shipbuilding giant Fincantieri has booked an all-time high order intake totaling in EUR 10.08 billion (approximately USD 11 bn) which comes despite the troubles in the offshore segment. The orderbook has almost doubled when compared to figures from the previous year when it amounted to EUR 5
Owner and operator of LNG carriers GasLog Ltd. has taken delivery of its first of eight “G-Class” vessels, the GasLog Greece. The GasLog Greece, which has been constructed at Samsung Heavy Industries in South Korea, is a 174,000 cubic meter tri-fuel diesel electric (TFDE) LNG carrier. The remaining
