The German shipbuilder Meyer Werft has exercised the option to buy the remaining 30% stake at the Finnish Meyer Turku from the government-owned Finnish Industry Investment (FII), becoming the sole owner of the shipyard. Back in September 2014, Meyer Werft and the Finnish Government signed a share pu
Malaysia-based offshore oil & gas services provider Bumi Armada has through its Maltese subsidiaries entered into USD 300 million agreements with ElectroGas Malta Limited (EGM) for the conversion, supply and operations and maintenance of one floating storage unit (FSU). Armada Floating Gas Storage M
Oslo-listed shipping company Belships has secured a post-delivery financing offer for two 61,000 dwt Supramax bulk carriers being built at Japanese shipyard Imabari. The two fuel efficient newbuilds are scheduled for delivery in September 2015 and March 2016. Total newbuilding commitments amounts to
Carnival group’s small ship cruise line Seabourn held a steel cutting ceremony for its newest vessel, Seabourn Encore, at the Fincantieri shipyard in Marghera, Italy on Monday. “The cutting of steel for Seabourn Encore is an important milestone in the evolution of both our beautiful fleet and the ul
The historical development of the efficiency of new ships shows that the fuel efficiency of newbuilds has actually deteriorated since 1990 by 10% on average, a study commissioned by Seas At Risk and Transport & Environment (T&E) reveals. The study finds that bulk carriers, tankers, and container shi
Hong Kong-listed shipping company China COSCO Holdings Company Limited Group (COSCO) has disassembled fourteen vessels, including one containership and thirteen bulk carriers, from 1 February 2015 to 31 March 2015 within its fleet renovation plan. The vessels, with the aggregate capacity of 924,700
The first steel cut on BC Ferries’ second of three new intermediate class ferries (ICF) capable of running running on liquefied natural gas (LNG) or diesel took place at Remontowa Shipbuilding S.A. in Gdansk, Poland on Friday. The trio will replace aging ships in the company’s fleet and are part of
The legislation meant to regulate ship recycling practices, in particular the European Union Ship Recycling Regulation and the International Maritime Organisation’s Hong Kong Convention, mainly based on flag state jurisdiction will neither be able to solve the problems of substandard shipbreaking no
Originally formed back in 1976 as the International Marine Transit Association in order to provide the ferry industry with a platform for networking and information exchange, Interferry soon evolved into the only world-wide industry association, currently representing 225 members from 38 countries.
China-based Jinling Shipyard Heavy has received an order from Anji Automotive Logistics Co. for construction of two 3,800 ceu pure car/truck carriers (PCTCs). Under the contract, signed on April 9, the ships are slated for delivery in 2017. The value of the order has not been disclosed. The ships wi
Italian shipbuilder Fincantieri has delivered Le Lyrial, a super luxury cruise ship, to the French cruise line Ponant (Bridgepoint Group). The ship was launched on Saturday, April 11th at Fincantieri’s Ancona shipyard. The new ship, which will fly the French flag, is the fourth sister ship following
Miami-based cruise line Royal Caribbean International has officially taken delivery of its 23rd ship, Anthem of the Seas. Royal Caribbean Cruises Ltd.’s Chairman and CEO Richard D. Fain officially received the new ship from Meyer Werft Yard’s Managing Partner Bernard Meyer in a signing ceremony held
Norwegian shipowners have reported a downward shift in shipowner expectations for growth in turnover in 2015. As shown in 2015 Maritime Outlook report by the Norwegian Shipowners Association (NSA), only a 2.3 pct profit increase is expected by Norwegian shipowners in 2015 from NOK 262 billion to NOK
Out of 262 vessels sold for breaking during the first quarter of 2015, more than half (151 ships) ended up on the beaches of South Asia as owners continue to scrap their vessels at substandard yards, the latest quarterly report of the NGO Shipbreaking Platform shows. All together, India, Bangladesh
