Singapore-based dry bulk owner and operator Berge Bulk has added to its fleet two Capesize newbuildings, Berge Sarstein and Berge Cho Oyu. The 182,000 dwt Berge Sarstein was delivered to the company on March 1. The ship will make its maiden voyage to Newcastle, Australia, from where it will transpor
Cosco (Guangdong) Shipyard, a subsidiary of shipbuilding and dry bulk shipping firm Cosco Corporation (Singapore), has entered into a contract to build three 1,750 TEU container vessels. Ordered by an undisclosed European owner, the boxships are scheduled for delivery in the fourth quarter of 2019 a
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering has received a contract to build two liquefied natural gas (LNG) carriers for an undisclosed Marshall Islands-based shipowner. According to the company’s stock exchange filing, the order for the two 173,400 cbm LNG carriers is worth K
In an effort to make the country’s ship-recycling facilities greener and more sustainable, the Government of Bangladesh is seeking international partnerships and financial support. The move follows the completion of the first phase of a project aimed at improving safety and environmental standards w
Crude oil tanker operator DHT Holdings has secured bank financing for the two 318,000 dwt VLCCs newbuildings ordered at South Korean shipbuilder Hyundai Heavy Industries (HHI). The VLCCs were ordered in January 2017 and are to be delivered in July and September 2018, respectively. As disclosed, the
Product tanker orderbook has dropped to its lowest level in nearly 17 years as it was equivalent to 10.2% of fleet capacity at the start of February 2017, a low not seen since August 2000, according to Clarksons Research. At the start of February, the product tanker orderbook of 10,000+ dwt vessels
Shareholders of the South Korean shipbuilder Hyundai Heavy Industries (HHI) approved on Monday the firm’s plan to reorganize its businesses into separate companies with the aim of improving its financial status. Following the shareholders’ approval, HHI will be split into four sectors – shipbuilding
Bermuda-based tanker owner Nordic American Tankers Limited (NAT) has expanded its fleet as it took delivery of a newbuilding Suezmax tanker on February 27. Nordic Space, the company’s second Suezmax newbuilding tanker, was constructed by South Korean Sungdong Shipbuilding and Marine Engineering. The
John Fredriksen-controlled tanker owner and operator Frontline has reached an agreement to buy two very large crude carrier (VLCC) resales from South Korean Daewoo Shipbuilding & Marine Engineering (DSME). Purchased at a price of USD 77.5 million a piece, the new 300,000 dwt VLCCs are scheduled for
The first steel has been cut for MS Roald Amundsen, a hybrid-powered cruise ship ordered by Norwegian cruise line Hurtigruten, at Kleven Yards on the western coast of Norway. Scheduled for launching in 2018, Roald Amundsen will be “the world’s first expedition cruise ship powered by hybrid battery t
South Korean shipping company Pan Ocean has decided to order five open hatch wood chip carriers as the company secured a long-term shipping deal with Brazil-based pulp and paper firm Fibria. In a stock exchange filing, Pan Ocean said that it would spend up to KRW 165.4 billion (USD 146.6 million) fo
Italian shipbuilder Fincantieri has launched Kronprins Haakon, an oceanographic icebreaker being built for the Norwegian government, at its shipyard in Muggiano. The 9,000 gross ton newbuilding is expected to be delivered by the end of 2017. Featuring a length of 100 meters and a width of 21 meters,
Global ordering activity has fallen to 26-year low in January 2017, shipbuilding data from Maritime & Trade by IHS Markit show. Specifically, demand for bulk carriers and gas carriers has plummeted as there were no booked orders in January. The appetite of shipowners for tankers over 10,000 dwt has
Amid a huge gap between supply and demand in the container shipping industry, carriers seem to be reluctant to fully seize the opportunity to narrow the difference, according to shipping consultacy Drewry. Namely, the shipping companies are not expected to take the advantage and delay gratification
