China’s Shanghai Dingheng Shipping has embarked upon an ambitious investment campaign as it speeds up efforts to create a fleet of over 20 ships by the end of this year. Last week, the company inked a deal with Ningbo Xinle Shipbuilding Group on the construction of ten 9,000-tonne stainless steel ch
South Korean shipping company Polaris Shipping has added five more 325,000 dwt Very Large Ore Carriers to the newbuilding tally at South Korean shipbuilder Hyundai Heavy Industries (HHI). The order, worth USD 400 million, is an option being exercised as part of a contract signed on September 25, whe
ESL Shipping’s LNG-powered dry cargo vessel Haaga was launched at the Jinling Shipyard in China and moved to the outfitting quay on October 20. Haaga and its sister vessel Viikki are said to be the first LNG-powered handy-size bulk carriers in the world. As explained, the 160-meter-long vessels fuel
PHP Family, a recycling yard in Chittagong, Bangladesh has received a Statement of Compliance (SOC) with the Hong Kong Convention (HKC) for the safe and environmentally sound ship recycling. Granted by international classification society RINA, the SOC is an important development towards a more sust
Rosnefteflot, a subsidiary of Russia’s petroleum company Rosneft, has inked agreements with compatriot Zvezda Shipbuilding Complex for construction of ten Arctic shuttle tankers. At the same time, Rosnefteflot and Taimyrneftegaz signed an agreement for 20-year time chartering of the 42,000 DWT tanke
Japan’s Mitsubishi Heavy Industries Group is planning to switch the focus of its commercial shipbuilding branch to areas such as gas-powered ships as part of a dramatic reform of its shipbuilding arm. The option is being pursued on the back of ever more stringent environmental regulations in the fie
Some 124 ships out of 227 ships broken in the third quarter of 2017 ended up on beaches in South Asia for dirty and dangerous breaking, the latest report from NGO Shipbreaking Platform shows. A total of 42 ships were sent for demolition to Turkey, 35 to China, and 26 were scrapped in the rest of [&h
Today, d’Amico International Shipping (DIS), a Milano-listed company specializing in the transport of refined petroleum products and vegetable oils, launched the first three LR1 (long-range) vessels in its history, at the Hyundai Vinashin shipyard in Vietnam. The company invested USD 131 million in
South Korean shipbuilder Samsung Heavy Industries Co. (SHI) has won an order to build an LNG Floating Storage and Regasification Unit (FSRU) for about KRW 250 billion ( approximately USD 221 million). SHI revealed that the newbuild order for a 170,000 cbm LNG-FSRU was received from a consortium of M
Italian shipbuilder Fincantieri has held a keel laying ceremony today in Ancona for the sixth of eight ocean cruise ships Viking Ocean Cruises has ordered from the yard. The first building block of the ship is about 11 meters long, 28.8 wide and weighing about 380 tons. The unit, to be delivered in
On October 13, Hudong-Zhonghua Shipbuilding Group delivered to its owners Pan Asia, the first of four 174,000 cbm Tri-Fuel Diesel Electric (TFDE) liquefied natural gas (LNG) carriers. The ship quartet is owned by a joint venture involving China National Offshore Oil Corporation, China LNG Group, BW
Chinese New Times Shipbuilding has been tied to an order for up to four bulkers, according to the latest report from Intermodal Research and Valuations. The deal is said to be in a letter of intent (LoI) stage. The order reportedly includes two firm 280,000 DWT ships and options for two more newbuil
Miami-based cruise company Royal Caribbean International has entered into credit agreements for the financing of the first and second Project Icon ships. Under the deals, signed on October 11, 2017, Royal Caribbean Cruises is granted an unsecured US dollar-denominated term loan, the substantial majo
Maersk Supply Service has taken delivery of Maersk Installer, an 8,300 dwt subsea support vessel (SSV), from COSCO (Dalian) Shipyard. As informed, the delivery documents were signed between the two parties on October 16, 2017. Maersk Installer is the first of four Stingray class SSVs scheduled for d
