Greek owner of drybulk carriers DryShips Inc. has exercised its first option to acquire one very large gas carrier (VLGC) currently under construction at South Korean shipyard Hyundai Heavy Industries (HHI) for a purchase price of USD 83.5 million. The VLGC, scheduled to join the company’s fleet in
At least five workers lost their lives and three to eight were reported missing after a liquefied petroleum gas (LPG) carrier ignited at Pakistan’s Gadani shipbreaking yard, according to NGO Shipbreaking Platform. The LPG carrier reportedly caught fire due to the presence of foam inside the ship, Da
Singapore’s gas carrier owner BW LPG Limited has taken delivery of the final two of four very large gas carriers (VLGCs) in its newbuilding program from South Korean Daewoo Shipbuilding and Marine Engineering (DSME). The two vessels, BW Mindoro and BW Messina, feature 84,000 cbm and each have a mark
Shanghai-based Jiangnan Shipyard has received an order to construct two fully press liquefied petroleum gas (LPG) carriers for an Algerian shipping firm, according to data provided by VesselsValue. Under the deals signed with Hyproc Shipping, the Chinese shipbuilder is scheduled to deliver the new s
Greek owner of drybulk carriers DryShips Inc. has agreed to enter into a “zero cost” option agreement to purchase up to four high specifications very large gas carriers (VLGCs) capable of carrying liquefied petroleum gas (LPG). Each of the four VLGCs, which are currently under construction at South
M/S Megastar, a new liquefied natural gas (LNG) -powered fast ferry owned by Estonian shipping company Tallink Grupp, has been bunkered with LNG for the first time at the newly opened Skangas LNG terminal in Pori, Finland. Following the completion of the ship’s construction at the Finnish Meyer Turk
Japanese shipbuilder Mitsui Engineering & Shipbuilding (MES) has delivered a 60,000 dwt type bulk carrier MV STH Chiba to the Marshall Islands-based shipping company Sea Trade Holdings. This is the 19th ship of the shipbuilder’s ”neo60BC” eco-ship design, capable of accommodating up to 24 persons an
Athens-based dry bulk owner Diana Shipping has taken delivery of two 208,500 dwt Newcastlemax newbuildings, the MV San Francisco and the MV Newport News, that were contracted in May 2013. MV San Francisco is time chartered to Singapore’s Koch Shipping at a gross charter rate of USD 11,750 per day fo
The state-run Korea Development Bank (KDB) has increased its stake in the South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME), according to a stock exchange filing. Namely, KDB, one of DSME’s main creditors, increased its ownership in the shipbuilder from 49.74 percent to 79
Italian company Fincantieri has received an approval from a South Korean court making it the preferred bidder for Saint-Nazaire-based shipbuilder STX France, according to Reuters. The announcement was made only days after Italy’s shipbuilding and ship designing firm was unveiled as the only bidder f
The international ship recycling markets have witnessed another roller coaster week and year, however, the industry concluded 2016 on an overall stable to positive note, according to a report from GMS, a cash buyer of ships for recycling. During the first quarter of 2016 the prices slid down from th
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