Declining prices have made 2014 a very hectic year for the demolition market as less DWT and fewer TEUs were scrapped compared to previous years, according to the Baltic and International Maritime Council (BIMCO). Starting with containership market, initial estimates for 2014 were set relatively low
Italian shipbuilder Fincantieri handed over Britannia, the new flagship of the P&O Cruises fleet, brand of Carnival Group, at its Monfalcone shipyard on Sunday. Britannia will be the first P&O cruise ship with a new livery with blue funnels and a stylized 97 meters long Union Jack draped over the bo
Chairman of Damen Shipyards Group, Mr. Kommer Damen, received the award for Industry Leader of the year at the annual Offshore Support Journal Conference gala dinner held on 18 February, 2015, as selected by OSJ’s editorial team and the conference advisory panel. The award was made based on “his vis
VIDEO: Freighter Sinks in the Black Sea St. Kitts and Nevis-flagged general cargo ship Fort Azov sank yesterday in the Black Sea, one mile off the coast near the town of Ayancik in Turkey’s Sinop province, the Haber Turk reports.…Read more India Intercepts Fleeing Russian Cargo Ship The Indian Coast
Korean yards have reclaimed the first place in global ship deliveries from their Chinese counterparts as they accounted for over a fourth of ships delivered on global scale in 2014. Korean shipbuilders had the largest share in Compensated Gross Tonnage (CGT) delivery scheme in 2014 with a 35% share
Japan’s classification society ClassNK is launching a joint research project to develop technical standards in order to clarify the brittle crack arrest parameter for steel plates exceeding 80mm in thickness, expected to be used on 20,000 TEU container ships. The project will be carried out as part
Britoil Energy, Britoil’s new platform supply vessel (PSV), is almost ready and is waiting for her launching ceremony, which is expected to take place in early March 2015. Her sister ship, Britoil Power was launched on January 6th, 2015 at PT. Britoil Shipyard in Batam, Indonesia, as the first ever
Teekay LNG Partners has entered into an agreement with Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) for the construction of one additional 173,400 cbm MEGI LNG carrier newbuilding, Teekay said in its quarterly results. The vessel is worth approximately USD 220 million. Under th
Recovery in dry bulk shipping rates not expected until at least the second quarter of 2015.
South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) will build four very large crude carriers (VLCCs) instead of two LNG carriers for an unnamed Oceania-registered client, the shipbuilder said in a stock exchange filing. DSME received the original order for the LNG carriers back in October
COSCO Corporation (Singapore) Limited announced deliveries of three newbuilding vessels. COSCO’s shipbuilding arm Dalian Shipyard delivered a 22,000 DWT Oil Tanker, named Atalanta, to its undisclosed Asian buyer. However, based on available data, the vessel is managed and operated by oil refinery Co
DaeSun Shipbuilding and Engineering Co., Ltd. (Dae Sun) has won an order for construction of up to six 1,800 TEU containerships from Piraeus-based Cosmoship Management. The deal provides for construction of four boxships and an option for two additional vessels, according to Asiasis. Details on the
Very Large Gas Carrier (VLGC) owner BW LPG has signed an agreement for a debt facility worth up to USD 400 million for financing seven of its VLGC newbuildings. The loan comprises an ECA tranche of up to USD 268 million, representing approximately 67% of the facility amount, and a commercial tranche
South Korea’s shipbuilder Hyundai Heavy Industries has reached a wage agreement with its unionised workers, ending a dispute started in May 2014, Yonhap reports. HHI and the union representatives had previously reached a tentative agreement on December 31, but the deal was soon turned down by two th
