South Korean shipbuilding conglomerate Daewoo Shipbuilding and Marine Engineering (DSME) has shelved its plans to acquire STX France for the time being, according to DSME’s CEO Jung Sung-leep. Speaking at a press conference on Thursday at the company’s headquarters Jung said that STX France is a sol
US shipbuilder General Dynamics NASSCO yesterday cut the first piece of steel for the second of three 50,000 dwt, LNG-ready, Jones Act product tankers for SEA-Vista Newbuild III LLC, at its shipyard in San Diego. These new 610-foot-long tankers have a 330,000 barrel cargo capacity, and are a continu
Dutch gas tanker shipowner Anthony Veder has signed an agreement with Finnish natural gas importer Gasum for construction and a long term charter of an 18,000 cbm liquefied natural gas (LNG) carrier. The new ICE Class 1A Super LNG carrier will be built at German shipyard Neptun Werft and delivered i
Europe’s cruise industry needs harmonised environmental legislation, streamlined visa procedures, coastal infrastructure investments, and improved port facilities if the industry is to reach its full potential and stop the downward trend in the continent as a destination, Cruise Lines Industry Assoc
Liquefied petroleum gas trading and transport company Petredec Limited has inked a financing deal with German lender KfW IPEX-Bank worth USD 186.3 million. The loan is intended to finance construction of the company’s four new handy size gas carriers. Components sourced from Germany account for EUR
Sweden’s ferry operator Rederi AB Gotland has exercised an option for an additional Ro/Pax ferry at Guangzhou Shipyard International (GSI) in China. Identical to its sister ship ordered back in November 2014, the newly ordered 1,650 passenger Ro/Pax ferry will also be powered by liquefied natural ga
The newbuilding price index has been in decline since June 2014, and the trend is likely to continue until next year, the South Korean daily Business Korea quoted US investment firm Morgan Stanley as saying. The newbuilding price index peaked at 140 in June last year, before steadily sliding and rea
In today’s spotted article we are featuring Norwegian Escape cruise ship under construction for Norwegian Cruise Line at Meyer Werft in Papenburg, Germany. The cruise ship is due to enter service in October 2015. As the first ship of the Breakaway PLUS class, the Norwegian Escape will combine all th
Shanghai-listed shipbuilder China CSSC Holdings said that it has secured 61 ship orders totaling in 8.99 million DWT capacity in 2014. The company’s orderbook was worth CNY 8.04 billion (around USD 1.20 bln) as at December 31, 2014, up 58.99% from the year start, the shipbuilder said in a stock exch
NYSE-listed liquefied petroleum gas shipping company Dorian LPG has taken delivery of one very large gas carrier (VLGC), the company’s fifth newbuilding delivery. The ECO VLGC Concorde, built by South Korea’s Hyundai Samho Heavy Industries, will initially trade in the spot market through the Helios
Belgian LNG and LPG carrier owner and operator Exmar NV has signed a USD 200 million financing agreement with Industrial and Commercial Bank of China (ICBC) for the Caribbean FLNG, a floating LNG liquefaction and storage unit currently under construction at Wison Heavy Industry’s shipyard in Nantong
Oslo-listed shipowning company Ocean Yield ASA has taken delivery of the 37,000 dwt IMO II chemical tanker “Navig8 Aquamarine” from Korean shipbuilder Hyundai Mipo Dockyard. After being delivered from the shipyard today, the vessel commenced a 15 years “hell and high water” bareboat charter to Navig
Richard Branson’s Virgin Cruises has signed a binding letter of intent with Italian shipbuilding company Fincantieri for three new mid-size ships, and has selected PortMiami as the home port for its first cruise ship that will set sail in 2020. Virgin Cruises’ three new mid-size ships, of about 110,
China has extended its ship scrapping subsidy program for two more years, the country’s transport ministry informed. Under the program, shipping companies are encouraged to demolish older vessels with the aim of cutting vessel overcapacity and modernizing their fleets with modern eco-friendlier coun
