COSCO Corporation (Singapore) Limited, a shipbuilding, marine engineering and dry bulk shipping group, saw a net loss of SGD 976.1 million (USD 695.5 million) in 2016, against a net loss of SGD 914.8 million (USD 651.8 million) recorded in 2015, mainly due to losses in shipyard in shipping operation
China COSCO Shipping Corporation plans to acquire shipyards owned by its subsidiary COSCO Corporation (Singapore) Limited. Under the plan, China COSCO will take over equity interests in COSCO Shipyard Group, COSCO (Nantong) Shipyard and COSCO (Dalian) Shipyard. The acquisition is part of China COSCO
South Korea’s Samsung Heavy Industries has laid keel for Teekay’s first shuttle tanker newbuilding intended for the East Coast Canada (ECC) project. The milestone marks the end of the block building period as well as the beginning of the next phase – completion of the newbuilding with all its system
On Monday, February 20, NASSCO shipbuilders took the Jones Act tanker Liberty to sea for the very first time for tests and trials. The Liberty is the third and final ship to be constructed as part of the ECO Class tanker program for SEACOR. In September and November of 2013, General Dynamics NASSCO
Copenhagen-headquartered shipping and logistics company DFDS has held a naming and launching ceremony for the first of its two RoRo freight vessels currently under construction at Flensburger Schiffbau-Gesellschaft in Flensburg. The 210-metre vessel, named Gardenia Seaways, was launched on 17 Februa
Unionized workers of South Korean shipbuilding company Hyundai Heavy Industries (HHI) organized a strike on February 23 over unsuccessful wage negotiations and the firm’s restructuring plans, Yonhap News Agency reports. The walkout was reportedly the first all-out strike since 1994. Although 15,000
Japanese shipbuilder and ship designer Mitsui Engineering & Shipbuilding (MES) has completed and delivered a 60,000 dwt type bulk carrier, MV Indigo Breeze, at its Tamano Works to Panama’s Arist Maritime S.A. Indigo Breeze is the 22nd ship in the company’s “neo60BC” series to be delivered. The vesse
South Korean shipbuilder Hyundai Heavy Industries (HHI) has received an order for construction of two 300,000-ton very large crude carriers (VLCC) from Greek shipowner Enesel, Korean news site Pulse reported. As disclosed, the newbuildings are expected to be delivered in the second half of 2018 and
As containership deliveries dropped from the record 1.7 million TEU in 2015 to just 0.9 million TEU in 2016, the boxship sector could enter a new era of less robust fleet growth if deliveries remain at moderate levels, Clarksons Research said. The slowdown in boxship deliveries in 2016, alongside re
Damen Shiprepair & Conversion (DSC), part of Dutch Damen Shipyards Group, plans to lay off around 150 workers as part of its reorganisation program at three Dutch yards within its group. The yards that will be restructured are Damen Shiprepair Rotterdam (DSR), Damen Shiprepair Van Brink (DSVB) and D
Italy’s Fincantieri has entered into a binding Memorandum of Agreement (MoA) with China State Shipbuilding Corporation (CSSC) and Carnival Corporation & plc for the construction of two cruise ships, with an option for additional four vessels. The deal, subject to several conditions, has a value of a
Italian shipbuilder Fincantieri has been linked to a binding deal on construction of cruise ships for the Chinese market, Bloomberg reports citing undisclosed sources familiar with the matter. The contract is said to be part of a series of deals between Italy and China to be announced during this we
Greek owner of drybulk carriers DryShips Inc. has decided to re-enter the tanker shipping market as it agreed to purchase an Aframax tanker and a very large crude carrier (VLCC). Bought for a total gross price of about USD 102.5 million, the two vessels are set to join DryShips’ fleet in the second
The first steel has been cut for a new liquefied natural gas (LNG) -powered cruise ship ordered by German cruise line AIDA Cruises from compatriot shipbuilder Meyer Werft. The steel-cutting ceremony was held at Meyer Werft shipyard in Papenburg on February 21, 2017. The newbuilding will be the world
