Due to depressed dry bulk market conditions, which triggered a slump in bulk carrier contracting and in turn led to the newly slim orderbook, which hit a nine year low at the start of September, the bulk carrier fleet expansion is expected to ease in the coming years, according to Clarksons’ Shippin
The liquefied natural gas (LNG)-powered icebreaker Polaris was delivered to the Finnish Transport Agency on September 28, according to the Finland-based shipbuilder Arctech Helsinki Shipyard. Arctech Helsinki Shipyard delivered the most powerful newcomer in the Finnish Icebreaker fleet, icebreaker P
MV Svenja, owned by heavy lift and project cargo transporter SAL Heavy Lift, departed from Vietnamese Halong Bay loaded with 14 Damen vessels, on September 11, 2016. MV Svenja’s voyage began in Shanghai on August 30, 2016, when it started loading eight Stan Pontoons built at Damen Yichang Shipyard,
Image Courtesy: Terntank On September 24, 2016, Swedish tanker owner Terntank named the Tern Sea and the Tern Ocean, the last two in a series of four 15,000 dwt chemical tankers with dual-fuel two-stroke engines ordered at Avic Dingheng shipyard in China. The vessels are still under construction and
Norwegian ship owner Ocean Yield ASA has taken delivery of the Ultra Large Container Vessel (ULCV) MSC Eloane from South Korea’s shipbuilder Samsung Heavy Industries. After being delivered from the shipyard today, the vessel commenced a 15-year bareboat charter with Switzerland-based Mediterranean S
In an effort to strengthen its portfolio in the repair and refit activities for yachts, naval and commercial ships, the German shipbuilder Lürssen has acquired the Blohm+Voss shipyard in Hamburg for an undisclosed price. The contract between Lürssen and the funds of British private equity investor,
The world’s first floating liquefaction unit Caribbean FLNG has completed its performance test at Wison Heavy Industry shipyard in Nantong, China. Wison Offshore & Marine said that this marks the first time in history that LNG has been produced onboard a floating facility. “During the 72-hour perfor
US shipbuilder General Dynamics NASSCO has delivered the fourth vessel in a series of five ECO Class product tankers under contract with crude oil transporter American Petroleum Tankers (APT). The Bay State was handed over during a signing ceremony at the NASSCO shipyard in San Diego, California. Th
UK-based power systems provider Rolls-Royce has enter a deal to provide propulsion and deck machinery to five cruise ships being built by Italian shipbuilder Fincantieri at its Monfalcone and Ancona Shipyards. Under the contract, the company will supply a Promas system, deck machinery and steering g
Singapore-based dry bulk owner Berge Bulk took delivery of the Berge Shari, its fifth Handysize newbuilding, from Hakodate Shipyard in Namura, Japan, on September 16, 2016. The Berge Shari is the latest of six 34,000 dwt vessels in Berge Bulk’s diversification into the Handysize market. According to
Bermuda-based tanker owner Nordic American Tankers Limited (NAT) has launched an underwritten public offering in an effort to finance the expansion of its fleet. Namely, the company is offering up to 11 million common shares at a price of USD 10 per share, and a 30-day option for underwriters to pur
Owner and operator of liquefied natural gas carriers Teekay LNG Partners has entered into a 15-year time-charter contract with the Yamal LNG project, to provide Yamal LNG with conventional liquefied natural gas (LNG) transportation services. The fixed-rate time-charter contract will be serviced by o
Finnish dry bulk shipping company ESL Shipping has assigned the building of its energy efficient liquefied natural gas (LNG)-fuelled bulk carriers to China’s Jinling Shipyard, operated by Sinotrans & CSC Shipbuilding Industry Corporation. The company said that the agreement reached between the parti
On September 23, 2016, Californian shipbuilder General Dynamics NASSCO held a keel laying ceremony for the Palmetto State, the fifth ECO Class tanker being built for crude oil transporter American Petroleum Tankers (APT). The Palmetto State is the eighth ship to be constructed as part of an eight-sh
