The U.S. President Barack Obama signed into law on December 19 the Howard Coble Coast Guard and Maritime Transportation Act of 2014. Earlier this month, this bipartisan legislation passed both U.S. Chambers of Congress by unanimous consent. The law reauthorizes funding for the United States Coast Gu
NYSE-listed Nordic American Tankers has signed preliminary contracts with an undisclosed South Korean shipyard for the construction of two Suezmax tankers. The contracts are now firm, bringing the NAT fleet to 24 suezmax crude oil tankers, being able to transport one million barrels of oil each. The
The first Swedish-flagged LNG powered passenger vessel,and the first LNG fuelled high speed RoPax ferry in the world, being built for Swedish operator Rederi AB Gotland, will feature a Wärtsilä integrated solution, including a complete LNG powered propulsion and fuel storage and supply system, as we
Nakilat Damen Shipyards Qatar (NDSQ) has signed an agreement with Qatar’s New Port Project (NPP) to construct 11 workboats for use at the port. NDSQ will build four 29m-long Azimuth Stern Drive (ASD) tug boats, three 16m-long mooring boats and four 15m-long glass reinforced plastic (GRP) pilot boats
Danish shipping company Norden said that it has secured three new credit facilities, worth a total of USD 187 million. Two loans have been agreed with Scandinavian banks and the remaining one with a Japanese bank. The said financing puts USD 433 million of undrawn credit facilities at Norden’s dispo
Italian shipbuilder Fincantieri bags order to build two more for Carnival Cruise Line and Holland America Line.
The working and living conditions at the shipbreaking yards of Alang, India, remain alarmingly poor, argues a new study published in Indian Social Science journal, the Economic & Political Weekly. The research was commissioned and financed by the National Human Rights Commission of India (NHRC) and
General Dynamics NASSCO has started construction of a second “ECO” tanker to be built for American Petroleum Tankers at a steel cutting ceremony at NASSCO’s San Diego-based shipyard. U.S. Rep. Scott Peters signaled the beginning of construction by pressing a button to cut the first piece of steel. N
Monaco-based tanker owner and operator Scorpio Tankers has recently taken delivery of six newbuilding vessels. The company has also agreed to sell three of its older vessels for a total sum of USD 74 million. STI Condotti, an LR2 product tanker, was delivered from Hyundai Samho Heavy Industries, and
An assembly of creditors in Rio de Janeiro approved on Wednesday a new bankruptcy protection plan put forward by Brazilian shipbuilder OSX Brasil SA in an effort to save the company while refinancing a USD 2.6 billion debt, Reuters reports. OSX revealed the new bankruptcy protection plan, accompanie
The amphibious transport dock John P. Murtha (LPD 26) is shown resting at sea after an exciting day that saw the ship launched at HHI’s Ingalls Shipbuilding arm. John P. Murtha is the latest San Antonio class addition to the US Navy’s 21st century amphibious assault force. The 684-foot-long, 105-foo
Scorpio Bulkers Inc. has reached agreements with shipyards in South Korea and Romania to modify six newbuilding contracts for Capesize bulk carriers into newbuilding contracts for LR2 product tankers, as well as to sell four of these LR2 newbuilding contracts to Scorpio Tankers Inc., with options fo
Compagnie Maritime Belge (CMB) has approved the acquisition of the fleet of containerships of Delphis, a fully-owned subsidiary of SAVERCO, one of CMB’s reference shareholders. Currently Delphis operates a fleet of 14 containerships of which 7 are fully owned and 7 owned in joint venture. Of the 7 j
Dutch transportation company BigRoll Shipping has contracted COSCO Dalian Shipyard Co. Ltd to build two more MC Class module carriers, bringing the total number of vessels under construction to four, the company said. The first two vessels BigRoll Barentsz and BigRoll Bering were ordered in 2013 and
