Danish tanker owner and operator Hafnia Tankers revealed plans to carry out a private placement targeting gross proceeds of up to USD 34 million. The company said that it intends to use the equity portion for the acquisition of second-hand four 74,500 dwt LR1 Product Tanker, built in 2010 at STX and
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) and Mitsui OSK Lines (MOL) signed a contract today on construction of a 180, 000 cbm liquefied natural gas (LNG) carrier. DSME said that the LNG carrier would be chartered out to German energy supplier E.ON. The vessel, featuri
China Shipping Development Company (CSDC) has through its Hong Kong-based unit ordered four Very Large Crude Carriers (VLCCs) worth USD 375.9 million. The company signed a contract with compatriot shipbuilder Dalian Shipbuilding Industry Co (DISC) for construction of four 308,000 DWT carriers earlie
Choosing the right investment towards compliance to 0.1% sulphur emissions in select SECA areas with effect from January 1 led to many debates in the last year, according to MEC Intelligence. With the deadline now past, a review of the announcements made by a total of 70 companies, including top 10
Five new Arc 7 design ice-class LNG carriers being built for the Yamal LNG project at the Daewoo Shipbuilding and Marine Engineering (DSME) yard in South Korea will be powered by a total of 30 Wärtsilä 50DF dual-fuel engines, the engine maker said in a release. The order was placed in January with W
Owner and operator of gas carriers Epic Gas has taken delivery of the 5,000 cbm Epic St. Agnes from Kitanihon Shipbuilding Co., Ltd. of Japan. The company said that the LPG tanker will deliver straight into a time charter for trading in Asia. Name of the charterer has not been disclosed. Epic St. Ag
German shipbuilder Meyer Werft yesterday held a steel cutting ceremony for the first of two cruise ships commissioned by the Asian operator Star Cruises. Delivery of the first ship is planned for fall 2016. The sister ship will be delivered in fall 2017. Both new ships for Hong Kong-headquartered St
A steep rise in vessel orders risks bringing the recent bonanza in oil tanker shipping to an abrupt end, according to the latest edition of Drewry’s Tanker Forecaster. Following recent modest growth, the oil tanker fleet is expected to reach new heights by 2016, climbing to 371 million dwt, Drewry e
Scorpio Tankers took delivery of an MR product tanker, STI Bronx, from SPP Shipbuilding Co., Ltd. of South Korea. Upon delivery, STI Bronx began a time charter for up to 120 days at approximately USD 18,000 per day. The company also took delivery of a previously announced time chartered-in LR2 produ
MAN Diesel & Turbo has renewed its contract with Chinese two-stroke licensee, China Shipbuilding Industry Corp. (CSIC) for the next 10 years. The contract covers the production of low-speed engines at CSIC affiliates: Dalian Marine Diesel (DMD), Yichang Marine Diesel Engine (YMD), and Qingdao Haixi
Five new 14,500 TEU container ships being built for Cosco (China Ocean Shipping Group) will be powered by twenty Wärtsilä Auxpac 32 generating sets, the Finnish engine maker said in a release. The ships are under construction at the Hudong-Zhonghua Shipbuilding Group yard in China, which is a subsid
Japan is said to be moving towards providing official development assistance to upgrade facilities and improve operations in the Indian ship recycling sector. Director of Shipbuilding Policy at the Japan External Trade Organisation (Jetro), Akihiro Tamura said that nothing has been officially decide
Swiss-based owner of Pieter Schelte Allseas Group SA said that the vessel is being renamed “Pioneering Spirit”. According to Allseas, the name of the vessel reflects what she stands for: a new technological step in platform installation and decommissioning. “It also fits the 30-year tradition of All
The window of opportunity for carriers to order 18-20,000 teu mega ships is closing and those that do not make the leap will struggle to compete on slot costs, UK shipping consultant Drewry believes. According to Drewry’s Container Insight, there is not enough cargo for everyone to have ULCVs so fut
