Malaysian shipping group MISC Berhad (MISC) has posted a net profit of RM 680.5 million (USD 160.8 million) for the third quarter of 2017, more than quadrupling last year’s equivalent of RM 134.2 million. Group revenue for the quarter came at RM 2,315.8 million, a 1.0% higher than the last year’s co
The Sub Panamax containership Maersk Pembroke has been sold for green recycling to a yard in Turkey, data from VesselsValue shows. Based on the provided information, the sale took place at the end of September. The demolition value of the 1988-built ship was set at USD 4.97 million. The vessel is ye
COSCO Shipping International (Singapore) sent six bulk carriers to the scrapyard in the first nine months of this year reducing its fleet to four Handymax carriers. The decision was based on the expectation that based on the prevailing market conditions, any recovery in the dry bulk shipping segment
Shanghai-based shipping firm Zhonggu Shipping has returned to Jinling Shipyard, a shipbuilding arm of CSC Sinotrans, with an order for six containerships. On October 30, the parties enter into the shipbuilding agreement, under which Jinling Shipyard will build six 1,900 TEU vessels for the company.
South Korean shipbuilder Samsung Heavy Industries (SHI) waved goodbye to Egina floating production storage and offloading (FPSO), which departed on a journey to Nigeria on October 31. Featuring a length of 330 meters, a width of 61 meters, the unit has 2.3 million barrels of storage capacity with to
Costa Cruises, the Italian brand of Carnival Corporation, carried out a coin ceremony for its new ship Costa Venezia at Fincantieri shipyard in Monfalcone on November 1. Scheduled to enter service in 2019, the new cruise ship will be the first Costa vessel built and designed specifically for Chinese
Following limited contracting in the bulk carrier sector in the last three years, ordering has started to pick up with 17.1 million dwt contracted in the first nine months of 2017. By the end of September 2017, the orderbook totalled 623 vessels of 64 million dwt, equivalent to 7.9% of fleet capacit
Japanese shipping company Nisshin Shipping has been tied to an order for up to 25 new ships at Chinese and Japanese shipbuilders as the company pushes forward with its ambitious fleet modernization plan. The order, estimated to be worth around USD 666 million, includes four small chemical tankers, s
Italian shipbuilder Fincantieri held a keel laying ceremony for the first of three new cruise ships being built for Virgin Voyages, part of Sir Richard Branson’s Virgin Group. The party-like ceremony, Branson’s trademark, held on Tuesday, October 31 in Sestri Ponente, Genoa, saw Branson arrive at th
The shipbuilding industry has handed over only a half of the 2,440 vessels which have deliveries dates scheduled for 2017, VesselsValue unveiled the data. Out of the scheduled deliveries, only 1,220 have hit the water so far this year, meaning 50% of the 2017 orderbook is outstanding as the final ni
The Board of Directors of COSCO Shipping Energy Transportation (CSET) has approved an investment in 14 new tankers, the company said in a regulatory filing. As informed, Dalian Shipbuilding will be in charge of constructing four new ships of 32,000 dwt and three crude oil tankers of 160,000 dwt. CSS
Greek drybulk shipping firm DryShips has expanded its fleet with a third newbuilding very large gas carrier (VLGC). The high specifications vessel, capable of carrying liquefied petroleum gas (LPG), will be employed under a time charter on a fixed rate with ten years firm duration to an oil major tr
The container shipping market will soon receive new capacity as the first Japanese-built 20,170 TEU, named MOL Truth, is set to join the fleet. The 400-meter-long ultra large container vessel (ULCV) was christened on October 25 at Imabari Shipbuilding’s Saijo yard in Japan. It is the first of two ve
South Korean shipbuilder Hyundai Heavy Industries (HHI) marked a marginal improvement in its business results for the third quarter of the year posting 2.1% higher profit year-on-year. The net profit stood at KRW 197 billion against KRW 193 billion reported in the third quarter of 2016. Operating in
