United Arab Shipping Company (“UASC”) closed a US$ 1.25 bln multi-tranche syndicated loan facility (“Facility”) for the partial financing of seven 14,000 TEU container ships and five 18,000 TEU container ships. The Facility is part of a larger US$ 1.74 bln debt financing related to UASC’s announced
The sixth coastal fast rescue vessel, “NAN HAI JIU 202”, contracted and built by Afai Southern Shipyard for China Rescue and Salvage Bureau of Ministry of Transport, carried out its sea trials on December 13th. The results of the trials show that all the technical indexes of the main equipment on th
Pacific Radiance Ltd., a Singapore-based provider of integrated offshore marine services in Asia and beyond, will be pressing forward with its growth strategy, moving ahead with plans to expand and upgrade its offshore fleet by adding two high-specification platform supply vessels (PSVs) to its newb
Sinopacific Shipbuilding Group (SINOPACIFIC), concluded the agreement for the construction of 6+2 ‘CROWN63’ bulkers on December 6, at the company’s head office in Shanghai. This is the largest single order SINOPACIFIC has ever secured in 2013. This is the first new building order since 2008 inked by
Defence Minister Senator David Johnston today announced the departure of the hull of the second and last of the Royal Australian Navy’s new amphibious ships from Vigo in northern Spain. Senator Johnston said the Landing Helicopter Dock (LHD) hull will be transported to Melbourne, Australia, by the H
Hyundai Heavy Industries, the world’s biggest shipbuilder, today announced that the Company maintained its record for the most ‘World Class Products’ in Korea by gaining one additional certificate. This maintains the number of ‘World Class Products’ at 37, the same level as last year. Hyundai Heavy’
Bergen Group ASA has accepted an indicative term sheet from a bank syndicate for a refinancing of the Group. The refinancing will mainly be used to strengthen the liquidity of the Group’s ongoing shipbuilding projects, to be completed during first half of 2014. Bergen Group’s Shipbuilding Division h
The Navy, along with the Lockheed Martin-led industry team, christened and launched the future USS Milwaukee in a ceremony at the Marinette Marine Corporation shipyard Dec. 18, marking an important production milestone for the littoral combat ship program. The ship joins the future USS Jackson (LCS
A delivery ceremony was held on December 17 for Hokuriku Maru, a specialized coal carrier having a wide beam and shallow draft for the transport of steaming coal from Australia and Indonesia to power plants operated by the Hokuriku Electric Power Company (Hokuriku Denryoku). A naming ceremony was he
Rolls-Royce has a won a contract to design and equip a new offshore support vessel for Island Offshore, to be built by shipbuilding group Vard. The platform support vessel is a Rolls-Royce design of type UT 776 CD, the second of this type ordered by Island Offshore this year. The UT 776 CD is an [&h
Flensburger-Schiffbau-Gesellschaft (FSG) today handed over the latest of four prototype newbuildings – the completed ROLLDOCK STAR for Dutch owners RollDock BV. The 151.50 metre long special ship is highly flexible in operation and also multi-functional. She is designed to carry demanding cargo and
National Chemical Carriers Ltd. Co. (NCC) of Saudi Arabia, a subsidiary of the National Shipping Company of Saudi Arabia (BAHRI) announced that the company received a new chemical tanker named “NCC FAJR” from Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME) of South Korea on Wednesday, 18t
ASL Marine, a group operating four shipyards in Singapore, Indonesia (Batam) and China (Guangdong), today delivered an ultra-modern platform supply vessel named ‘Mermaid Leeuwin’ to Mermaid Marine Australia Limited. Mermaid Leeuwin is a state of the art, VARD-designed PSV 05L CD, DNV-classed platfor
Yara International ASA has entered into shipbuilding contracts with Hyundai Mipo Dockyard (HMD) for the construction and delivery of 2 mid-size LPG carriers with an expected cost per vessel of USD 51 million. Following an evaluation of current new-build and time charter rates, Yara has chosen to bui
