Oslo-listed Philly Shipyard ASA recorded USD 19.4 million in net income for the first half of the year, considerably up from last year’s USD 7.4 million. However, net income for the second quarter reached USD 2.2 million, down from corresponding USD 5.4 million. Operating revenues for the second qua
Pakistani shipbreaking yards, which are currently closed for tankers following accidents on uncleaned FSU and LPG earlier this year, could start receiving such vessels but with greater restrictions. Namely, rumors persist of an imminent reopening to tankers with far greater restrictions on tanker cl
South Korea’s shipbuilder Samsung Heavy Industries (SHI) is looking to further cut its workforce, continuing with the move earlier announced in the company’s self-rescue plan, according to Yonhap News Agency. Although the exact number of workforce which would be reduced this year was not unveiled, t
Greek Oceanbulk Group has been linked to an order for four Capesize bulkers at China’s Shanghai Waigaoqiao Shipbuilding, a wholly owned subsidiary of China CSSC Holding. The 180,000 DWT quartet is valued at USD 172 million, with Oceanbulk paying USD 43 million a piece, data from VesselsValue shows.
Norwegian shipbuilder Ulstein Verft has held the steel cutting ceremony for Color Line’s plug-in hybrid ferry. The steel cutting took place at the hull yard Crist, Poland, on July 14. Scheduled to be completed in 2019, the newbuilding will serve the Sandefjord-Strömstad route. As explained, the ferr
Japanese shipping company Nisshin Shipping has been linked to an order for up to seven 82,000 DWT bulkers at China’s Jiangsu Hantong Ship Heavy Industries. The fleet modernization deal, dated last week, comprises five firm orders plus two options, according to the data provided by VesselsValue. The
The US-based cruise company Disney Cruise Line has decided to further expand its fleet as it added a third vessel to its orderbook. The first two vessels under the company’s next phase of expansion were ordered in March 2016 from Germany’s Meyer Werft shipyard. The new cruise ship will also be const
Norwegian Fosen Yard and China’s Hantong Shipbuilding agreed on July 7 to form a joint venture (JV) for building roll-on/roll-off passenger (RoPax), roll-on/roll-off (RoRo) and cruise vessels. As informed, the new JV will be named Fosen Hantong and will become effective immediately. The JV will util
Maran Tankers Management, part of Greek shipping major Angelicoussis Shipping Group, has returned to South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) for four additional very large crude carriers (VLCC). The four 318,000-ton VLCC, featuring 336 meters in length and 60 meter
By 2020, some 100 very large crude carriers (VLCCs) will be over 20 years old, hinting that the time may be ripe now to replace that tonnage especially since the newbuilding prices are hard to resist now. “With 80 million US dollars for a VLCC and 53 million US-dollars for a Suezmax, you need to [&h
Norwegian shipping and tank terminal company Odfjell has signed a final agreement to acquire five stainless steel newbuildings and form a pool for fifteen 25,000 dwt chemical tankers. The ships are a part of a newbuilding order of ten 25,000 dwt vessels with 24 stainless steel tanks, under construct
Turkish shipping company Yasa Shipping has been linked to the order of four Ultramax bulk carriers, including an option for a further four ships. The bulkers were ordered at China’s Jiangsu New Yangzijiang shipyard earlier this month, according to information provided by VesselsValue. Yasa Shipping
Japanese shipowner and operator Santoku Senpaku has ordered two 186,000 dwt bulkers from Chinese Shanghai Waigaoqiao Shipbuilding (SWS). The duo is slated for delivery in 2019, according to Intermodal Research and Valuations. The Japanese shipping company is said to be paying USD 45 million per vess
The cruise ship fleet is set to grow by 50 percent in the following ten years as cruise liners are expected to resume their ordering spree especially for the mega cruise ships. The current orderbook value stands at USD 47 billion, with 75 ships due for delivery by 2025. European shipbuilders still d
