South Korean shipbuilding major Samsung Heavy Industries (SHI) has signed a term sheet with Russian counterpart Zvezda Shipbuilding Complex for the establishment of a joint venture (JV) aimed at managing construction projects of Arctic shuttle tankers. The joint venture will provide technical suppor
Russian oil major Rosneft plans to order reinforced ice-class shuttle tankers from the Zvezda Shipbuilding Complex currently under development. Namely, Rosneft, Rosnefteflot and Zvezda Shipbuilding Complex signed today an agreement of intent that envisages placing orders with Zvezda Shipbuilding for
Norwegian builder of ferries and offshore support vessels has obtained an investment worth NOK 300 million (USD 38.8 million), the shipbuilder said. The cash injection comes from a group of investors comprising the compatriot cruise, ferry and cargo operator Hurtigruten and its owners, Petter A. Sto
Danish shipping company TORM has expanded its fleet as it took delivery of two newbuilding MR2 chemical/product tankers. The vessels in question, which were bought as resales from Hong Kong-based Cido Shipping, were named Torm Sovereign and Torm Supreme. Each featuring 50,000 dwt, the tankers were p
Classification societies need to keep pace with the digitalization of the shipping industry in order to support the industry needs, according to the new Chairman of the International Association of Classification Societies (IACS), Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime. “Our industry is becom
National Shipping Company of Saudi Arabia (Bahri) has taken delivery of the very large crude carrier (VLCC) Rimthan, built by Hyundai Samho Heavy Industries (HSHI) in South Korea. The 300,000 dwt carrier joins the company’s 40-strong VLCC fleet. Built to the latest environmental and fuel-efficient t
Finnish technology group Wärtsilä has been hired to supply the cargo handling system and cargo tanks for a new 3000 cubic metre capacity LNG bunker barge. The vessel will be owned by LNG Shipping, a consortium between Belgium based Victrol and CFT Corporation based in France. The barge is being buil
China Shipbuilding Industry Corporation (CSIC), which suspended trading of its stock back in May due to a “major asset restructuring”, is scheduled to sign an agreement with an unnamed party on the matter next week. CSIC revealed in a regulatory filing that it is expected to sign a deal on the compa
A strike seems to be looming at Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) amid workers’ demand for the recognition of their union. Namely, the workers are demanding for their union to be certified through an election so as to be able to negotiate a Collective Bargaining Agreem
Miami-based cruise company Carnival Corporation has held a keel-laying ceremony of the first ship of its new liquefied natural gas (LNG) generation, AIDAnova, which will be delivered by Meyer Werft Papenburg in fall 2018. The 180,000 gross ton AIDAnova, which will be the 13th member in AIDA’s fleet,
Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK) Line has placed an order for up to four very large crude carriers (VLCC) of 300,000 DWT, the Japan Maritime Daily reported. The compatriot shipyards Namura Shipbuilding and Japan Marine United (JMU) have been hired for the construction of
The shipping industry may collectively need to spend around USD 100 billion in order to install the new ballast water treatment systems that will be required by law in order to become compliant with the Ballast Water Management (BWM) Convention that will enter into force on September 8, 2017. Esben
Finnish shipbuilder Meyer Turku is more than doubling its investments to EUR 185 million (USD 220.6 million) from the previously planned EUR 75 million. The new investments include a new plate cutting line, a new profile cutting line and a new panel line to the steel halls of the shipyard. These new
Singapore-based Triyards Holdings Limited said it was reassessing its ability to continue or to complete current projects with the existing financial resources available as it is experiencing liquidity shortage. The financially-troubled shipbuilder is “experiencing difficulties in gaining access to
