The US-built fleet is considerably older than the global, non-US built fleet as a consequence of the Jones Act, which requires vessels travelling between US ports to be US built, owned, flagged and operated by a 75-percent American crew. The current US-built fleet has an average age of 33-years old ver
Cement carrier M.V. Ireland was launched at the Netherlands-based Ferus Smit Westerbroek Yard on 19 March. The photo shows the vessel hitting the water for the first time. The vessel is equipped with an LNG fuelled propulsion system and incorporates a pressurized LNG tank positioned in the foreship.
Denmark-based container shipping major Maersk Line A/S has selected Wärtsilä Nacos Platinum integrated navigation, automation, and propulsion control systems to be built in its 27 new containerships. The container vessels are under construction at yards in China and South Korea. With the contracts i
Royal Caribbean’s brand new Quantum class cruise ship Ovation of the Seas has arrived to Blohm & Voss’s dock in Hamburg for its finishing touches. The 168,666-gross ton vessel moored at the shipbuilder’s dock on March 18 fresh from sea-trials. The cruise ship, which was constructed in 18 months, was
South Korean shipbuilding major Hyundai Samho Heavy Industries (HHI), a shipbuilding affiliate of Hyundai Heavy Industries (HHI), has secured an order for two Suezmax tankers from Arab Maritime Petroleum Transport Co (AMPTC), Asiasis said. The 159,000 DWT Long Range 3 (LR3) oil tankers, priced at ar
Oslo-listed ship owner Ocean Yield ASA has taken delivery of the LR2 product tanker Navig8 Sanctity from Korean shipbuilder Sungdong Shipyard, the company informed. After being delivered from the shipyard today, the vessel commenced a 13-year “hell and high water” bareboat charter to Navig8 Product
Ship design unit of Finnish engineering company Wärtsilä has entered into a cooperation agreement with Shangai Merchant Ship Design & Research Institute (SDARI), China-based ship design house that is a part of China State Shipbuilding Corporation group (CSSC). The agreement is to cover the designs f
Fincantieri’s Vard Enters Cruise Sector with Ponant’s Quartet Order Fincantieri’s Norwegian subsidiary Vard Holdings Limited (VARD), specializing in the design and shipbuilding of offshore and specialized vessels, has signed a Letter of… Read More VIDEO: AIDA Cruises Takes Delivery of AIDAprima Germ
The Explorer, a floating storage and regasification unit (FSRU), has completed an upgrade which has boosted the vessel’s sendout performance enabling it to reach a sendout capacity of 1.0 Bcf/d, what is ‘an unprecedented milestone for an FSRU’, as its owner Excelerate Energy claims. The photo shows
Navig8 Product Tankers, a joint venture between the Navig8 Group and DVB Bank, has entered into sale and leaseback agreements with CMB Financial Leasing for two 74,000 dwt LR1 product tankers being built at Korean shipbuilder SPP Shipbuilding. The two vessels from SPP have contractual delivery dates
d’Amico Tankers Limited (Ireland), a product tanker subsidiary of d’Amico International, has secured a new USD 250 million term loan facility with a pool of nine primary financial institutions, the company said. The lenders include: Credit Agricole Corporate and Investment Bank, Nordea Bank, ING Ban
State-owned corporation China Merchants Group became the latest applicant to buy London’s Baltic Exchange, according to sources cited by Reuters saying that the company made an informal bid for the business. The group’s subsidiary, China Merchants Securities, made the informal offer for the business
Finnish engineering company Wärtsilä and China State Shipbuilding Corporation (CSSC) have inked a Letter of Intent to form a new joint venture that will focus on China’s growing market for electrical and automation (E&A) solutions for marine applications. The planned activities of the joint venture
South Korea’s shipbuilding giant Hyundai Heavy Industries (HHI) has been hit by another hurdle as it faces KRW 120 billion (USD 100.5 million) in taxes, Yonhap news agency informed. As disclosed by Yonhap, HHI has been notified by the country’s tax authorities of the additional tax imposition and th
