The dry bulk shipping market has been hit hard by the downturn of the Baltic Dry Index (BDI) that fell to unprecedented lows this year. Vessel oversupply and dwindling demand, especially from the world’s top importer China, have caused numerous headaches for the ship owners across the board, some of
Interview: Time for Carriers to Get Ahead of the Curve The 2015 has started off as a pretty challenging year for the container shipping industry. With volatile spot rates coupled with oversupply and ordering of… Read more Why Containers Get Lost at Sea? Containerization has reformed the ocean transp
The National Shipping Company of Saudi Arabia (Bahri) inked an agreement with Hyundai Samho Heavy Industries (HSHI) on May 21, 2015 to build 5 very large crude carriers (VLCCs) plus 5 more optional VLCCs. Eng. Ibrahim Abdulrahman Al-Omar, Bahri’s Chief Executive Officer said that this agreement is i
The following video introduces the multipurpose, MPP F-500, series of vessels owned by German shipping company Auerbach Schifffahrt. The company has entrusted Jiangzhou Union shipyard in China to build four 12,500 DWT MPP ships, two in 2014 and additional two in March this year, slated for delivery
Owner and operator of floating LNG terminals Höegh LNG plans to tap further into the rising market potential of the floating storage and regasification units (FRSU). The growing focus is likely to see more newbuilding orders in this sector, according to Höegh LNG’s President and Chief Executive Offi
Well this is a sight we don’t have a chance of seeing too often. The image shows an offshore construction vessel (OCV), featuring Ulstein’s X-BOW design, taking shape at Ulstein Verft. On the wide angle view, the OCV vessel is seen flaunting its fresh paint job. The vessel, currently known as hull n
China-based COSCO (Zhoushan) Shipyard Co. has delivered a 64,000 DWT bulk carrier named Queen Cuki to its European buyer, Lomar Shipping. The vessel measures 199.90 meters in LOA (length of all), 32.26 meters in breadth and 18.5 meters in depth. In February 2012 Lomar signed an order with COSCO Grou
The Dutch maritime technology sector has had a good year, posting a 17% increase in turnover, from € 6.4 billion ( USD 7.14 bln) in 2013 to € 7.5 billion (USD 8.36 bln) in 2014. The sector employed 31,680 FTEs, up from 29,361 in 2013. “Overall we see a nuanced picture, with ups and downs,” […
A shipyard worker was killed in a blast that rippled through a ship undergoing repair work at Mingyang Shipyard in Lianyungang, Jiangsu province in China. The explosion occurred on Monday, May 18th while the worker was doing welding work on board the ship, local media reports say. Two more workers w
Japan’s Mitsui O.S.K. Lines (MOL) and its marine equipment trading company MOL Techno-Trade have accrued 3,000 orders for the Propeller Boss Cap Fins (PBCF) since its introduction in 1987. The PBCF is an energy-saving device attached to the propeller of a vessel. It breaks up the hub vortex generate
KOTUG’s new ART 80-32 Hybrid Rotortug RT Evolution, built by Damen, was named at the Greenwich Ship Tier in London on May 18, during the ‘Tugnology Conference.’ KOTUG currently owns four hybrid Rotortugs. RT Adriaan and RT Evolution are operating in the Port of Rotterdam and RT Emotion commenced her
Canadian shipowner Fednav has taken delivery of three bulk carriers since the beginning of the year, the company said. Two 58,000-DWT supramaxes have been recently delivered from Shin Kurushima Shipyard in Japan, Federal Crimson and Federal Cardinal. The two have been hired out on long-term charters
India’s Pipavav Defence and Offshore Engineering Co. Ltd has signed a cooperation deal with South Korean shipbuilding giant Daewoo Shipbuilding and Marine Engineering Co. Ltd. Under the deal, DSME would share its technology and knowledge on construction of LNG carriers, making Pipavav eligible for c
Taiwanese shipping company Yang Ming Marine Transport Corporation has taken delivery of YM Express, a 4,662 TEU full-container vessel built by compatriot CSBC CORP. YM Express is the fifth of five eco-friendly 4,662 TEU full-container vessels built for Yang Ming by CSBC CORP. The new ship is 259 met
