Highly volatile global market conditions are expected to keep shipbuilding prices at the current lows, according to Singapore-based shipbuilding and dry bulk shipping group COSCO Corporation. The Clarkson Newbuilding Price Index peaked at 140 points in mid-2014 before declining to 138 in December 20
Italian shipbuilder Fincantieri posted a somewhat weaker first quarter results in 2015. The group secured new orders totaling euro 85 million compared to euro 1.7 billion in the corresponding period of 2014. Of the total new orders 53% relates to the shipbuilding segment (59% at 31 March 2014), 35%
Oslo-listed Siem Shipping Inc has placed an order for two car carriers with Croatian shipbuilder Uljanik. Under the deal, Uljanik will build two 7000 ceu pure car and truck carriers (PCTCs) intended for delivery in the second half of 2017. The price is in the process of being finalised, but will be
Shenzhen-listed shipbuilder Jiangsu Sainty Marine Corp said that it has agreed with Dutch ship investment company Universal Marine on cancellation of order for construction of four 2,350 TEU boxships. According to Sainty Marine, the quartet was ordered in March 2014, however the construction has not
British shipyard and marine engineering services company Cammell Laird has reported that the number of ferry dockings in the first four months of 2015 almost matched the number of ferries the shipyard docked throughout the entire 2014. Cammell Laird has seen 15 ferries docked at its Birkenhead 120 a
South Korean Daewoo Shipbuilding & Marine Engineering (DSME) has confirmed its interest in buying a stake in a Saint Nazaire-headquartered shipbuilder STX France. Reacting to recent speculations made in the French press, DSME said that it received the offer documents for the sale of the stake, but t
China’s Zhejiang Zhenghe Shipbuilding has filed for restructuring at a district court due to financial difficulties, the shipbuilder said in a statement. Zheijang Zhenghe had filed an application for restructuring at the Zhoushan District Court on March 31. The shipbuilder also announced that throug
Freight rates in the tanker market remained firm in April, considering seasonal weakness in activity and rates in general, Drewry’s Tanker Insight shows. Sluggish fleet growth and improved tonnage demand resulted in high utilisation rates, supporting firmness in freight rates. Despite the shutdown o
Struggling shipbuilder Jiangsu Sainty Marine Corp said that Precious Shipping has declined to take delivery of a 64,000 DWT bulker duo from the yard. Namely, Thailand’s dry bulk shipping company said that the bulkers did not meet the fuel consumption standards set by the company. Shenzhen-listed Sai
US shipbuilder General Dynamics NASSCO signaled the start of construction of a fourth ”ECO” tanker to be built for American Petroleum Tankers at a steel cutting ceremony on Friday, May 8, at its San Diego shipyard. Each of the five 50,000 deadweight ton product carriers to be constructed for America
Japanese shipping company Mitsui & Co., Ltd. has contracted the eight planned LNG carrier intended to be used for the delivery, mainly to Japanese customers, of LNG from the Cameron LNG Export Project in the U.S.A. The company secured five ships with time charter parties in September 2014 and two ch
Scorpio Tankers has entered into agreements to purchase four LR2 product tankers currently under construction at two South Korean shipyards. The units are being built at Sungdong Shipbuilding and Marine Engineering Co., Ltd. and Daehan Shipbuilding Co., Ltd. The tanker owner is expected to pay USD 2
South Korean shipbuilding giant Daewoo Shipbuilding and Marine Engineering (DSME) confirmed today that it is in talks with European counterparts regarding an order worth up to USD 1.7 billion. The order could entail up to 11 containerships, DSME said in a filing to Korea Stock Exchange. The shipbuil
Two banks have frozen Sainty Marine’s assets, the Chinese shipbuilder said in a filing with Shenzhen stock exchange. Namely, the Bank of China has frozen its account with balances of RMB 1.06 million (USD 170,800) whereas Export-Import Bank of China (Exim Bank) has frozen a dual-currency account wit
