CarVal Investors, LLC, an investment arm of Cargill, has sold its newbuilding Capesize bulk carrier for a total consideration of USD 32.5 million, according to data released by VesselsValue. The 180,000 dwt ship, named Mustang, was purchased by Greece-based shipowner Chartworld Shipping Corporation.
Norwegian ship owner Ocean Yield ASA has taken delivery of a 115,000 dwt LR2 product tanker Navig8 Supreme from South Korea’s Sungdong shipyard. After being delivered from the shipyard today, the vessel commenced a 13-year “hell and high water” bareboat charter to Navig8 Product Tankers Inc. This is
China Ocean Shipping Group (COSCO) and China Export-Import (EXIM) Bank signed a CNY 120 billion (USD 18 billion) strategic cooperation agreement in Beijing, as well as a term sheet to finance the construction of 50 ships. The deal was signed in an effort to help accelerate optimization of fleet stru
Dutch shipbuilders Amels and Damen have sold the first Damen SeaExplorer 65, a purpose-built, Polar Code compliant expedition yacht with full capability for remote destinations. The 65, 90 and 100-meter yacht range debuted in September 2015 at Monaco Yacht Show. The expedition yacht offers 40 days o
Sluggish marine engineering and shipping markets continued to put pressure on the performance of COSCO Corporation (Singapore) Limited, a shipbuilding, marine engineering and dry bulk shipping group, as the company suffered a net loss of SGD 36.8 million (USD 27.4 million) in the second quarter of 2
Norwegian shipbuilder and ship designer Vard Holdings Limited has increased its shareholdings in the Brazilian shipyard Vard Promar from 50.5 percent to 95.15 percent. The increase in ownership results from a capital increase of BRL 532 million (USD 166.8 million) in Promar that is entirely taken up
The containership orderbook, measured as a percentage of the existing fleet, has fallen to its lowest level since 1999, and is expected to slide further in the near term, according to Alphaliner. Namely, the current orderbook-to-fleet ratio plunged to 17.1% from the peak of 64% recorded at the end o
South Korea’s financially troubled shipbuilder STX Offshore & Shipbuilding is facing some 25 civil lawsuits amounting to a total of KRW 102 billion (USD 91.5 million), making it difficult for the company to normalize its operations, according to Korea Times. The lawsuits were filed by former employe
Owner and operator of liquefied natural gas carriers Teekay LNG Partners is considering to postpone the delivery of its unchartered newbuilding MEGI LNG carrier, Torben Spirit, by up to ten months. Namely, under the agreement reached with South Korean shipbuilder Daewoo Shipbuilding and Marine Engin
Norwegian company Kongsberg Maritime has been awarded an Engineering, Procurement, Construction and Installation (EPCI) contract with German shipbuilder Flensburger Schiffbau-Gesselschaft that includes engineering and maritime technology deliveries to a RoPax ferry for Irish Continental Group (ICG).
Dry bulk shipping company Safe Bulkers has secured USD 16.9 million of financing for the construction of a new Kamsarmax class vessel, scheduled for delivery in the first half of 2018. An unaffiliated investor would provide the funds in exchange for a 2.95% cumulative redeemable perpetual preferred
Greece-based tanker owner and operator Top Ships has secured financing for the company’s sixth and final newbuilding vessel, the 50,000 dwt fuel efficient “ECO” MR product tanker, M/T Nord Valiant. Namely, the company said that it entered into a senior secured facility with an undisclosed northern E
Greek owner and operator of dry bulk and container ships Euroseas Ltd. has terminated the order for the first of its Ultramax vessels, Hull Number DY 160, under construction at Sinopacific Shipbuilding’s Dayang yard in China. The company said that the vessel was cancelled due to excessive constructi
Greek shipping company Samos Steamship Co. has extended its cooperation with Qatar’s shipyard Nakilat-Keppel Offshore Marine (N-KOM) as the parties entered into a fleet agreement. Under the fleet agreement, N-KOM will be the preferred shipyard in the Middle East for repairs of all vessels owned by t
