Canadian shipping company Teekay LNG Partners has decided to upgrade one of its standard LNG carriers into the company’s first floating storage unit (FSU). According to the vessel’s builder, South Korea-based Daewoo Shipbuilding & Marine Engineering (DSME), the deal for the carrier was signed in Feb
Image Courtesy: Meyer Werft Ovation of the Seas, the third ship of the Quantum class ordered by US cruise operator Royal Caribbean Cruises Ltd, is scheduled for float-out on February 18, 2016. The 168,666-gross ton cruise ship, which has been constructed in 18 months, will depart Meyer Werft’s cover
UK Arbitration Tribunal in London has ruled in favour of Canadian Algoma Central Corporation with regard to a contract dispute involving three shipbuilding contracts between Algoma and Chinese shipbuilder Nantong Mingde Heavy Industries Stock Co. Ltd. “We are extremely pleased that the Tribunal has
Ferguson Marine Engineering Limited (FMEL) on the Clyde has started construction of two new 100-metre ferries for the Clyde and Hebrides network. The ferries, owned by Caledonian Maritime Assets Ltd (CMAL), are designed to carry 127 cars or 16 HGVs or a combination of both and up to 1,000 passengers
The tenth newbuilding of the Copenhagen-based shipping company Thorco Shipping hit the water on February 9 in Japan. The new vessel, named Thorco Lohas, was built and launched by the Japanese shipbuilding company Honda Heavy Industries. Thorco Lohas, the final general cargo vessel of the L-class bui
Oslo-listed dry bulk owner and operator Belships has entered into a sale and lease back agreement with a Japanese company for a 61,000 dwt Ultramax bulk carrier M/S Belisland. The eco-design bulker, currently under construction at Imabari Shipbuilding in Japan, is expected to be delivered in March 2
Singapore-based ship owner U-Ming Marine Transport has signed a contract for the construction of two 81,500 dwt bulk carriers. According to the company, the new vessels will be built by Japanese shipbuilder Oshima Shipbuilding. The price tag and the particulars of the new bulkers have not been discl
Tanker market earnings should experience a limited upside from current levels by April with time charter rates being under pressure as a result of growing supply of large crude and products tonnage, Maritime Strategies International reports in its latest Tanker Freight Forecaster. After what was a s
Dutch shipbuilder Ferus Smit delivered a 10,550 dwt multi-purpose cargo carrier MV Nordana Sea to its compatriot shipping company Symphony Shipping on February 11. MV Nordana Sea, the third unit in a series of six newbuilds of Ferus Smit’s DP2 Ecobox design, departed the shipyard on its maiden voyag
Greenpeace: Modern Express Carrying Controversial Cargo The troubled car carrier Modern Express is carrying a controversial cargo of timber apparently destined for the French market, global environmental group Greenpeace claims… Read More Gallery: ITF Releases Images of ‘Shocking’ Safety Breaches on
Chinese shipbuilder JES International Holdings said today that it has agreed to sell its shipbuilding business to Hong Kong Victo International Limited. The sale relates to the entire registered capital in Jiangsu Eastern Heavy Industry (JEHI) and Jiangsu New Eastern Marine Engineering Equipment (JN
Chemical shipping freight rates for both contracts of affreightment and spot cargoes will be under pressure throughout 2016, as there are some new operators looking to break into the long-haul trade routes, according to Drewry’s Chemical Forecaster. The prediction comes on the back of low bunker pri
Danish shipping and energy conglomerate Maersk Group wants to help ship recycling yards in Alang, India to upgrade facilities and practices to comply with the company’s standards as the group eyes cost reductions for its ship recycling. Maersk said that with more vessels to recycle in the future the
South Korea’s shipbuilding giant Hyundai Heavy Industries (HHI) has signed an agreement to build two 158,000 dwt Suezmax crude tankers for a Turkey-based shipping company Ditas Shipping. The deal, worth between USD 120 to 140 million, will see HHI deliver the vessels to their owner in 2018, Yonhap n
