In an effort to reduce its debt, China Shipbuilding Industry Co. has revealed plans to raise some CNY 3.9 billion (USD 586.7 million) through the sale of 718 million of its shares, Bloomberg cited data from the company’s stock exchange filing. The shares would be sold at a price of CNY 5.43 each to
China’s COSCO Shipping Company Limited (COSCOL) has decided to upgrade three from a total of seven heavy lift vessels currently under construction at Shanghai Shipyard. Under the letters of intent signed between the parties, the shipping firm said it would increase the capacity of two existing newbu
Croatian shipping company Atlantska Plovidba d.d. has reached an agreement with the Chinese shipbuilder CSC Qingshan Shipyard to terminate a contract for the construction of two Ultramax vessels. Atlantska Plovidba did not disclose the reasons behind the cancellation. The 63,800 dwt bulk carriers we
Miami-based cruise company Royal Caribbean Cruises has entered into credit agreements for the financing of the first and second Edge-class ships for Celebrity Cruises, a brand subsidiary of RCL, which are scheduled for delivery in the fall of 2018 and the first half of 2020, respectively. Each agree
Swedish tanker owner Terntank took delivery on June 28 of M/T Ternsund – the first in a series of four 15,000 dwt chemical tankers with dual-fuel two-stroke engine being built by China-based Avic Dingheng Shipbuilding. The dual-fuel product tanker left the shipyard on June 28 and is en route to Sing
Daewoo Shipbuilding & Marine Engineering’s (DSME) former Chief Executive Officer Nam Sang-tae was taken into custody as part of an accounting probe into the financials of the South Korean shipbuilder, launched earlier this month. According to the Korea Herald, the CEO was called in for questioning o
At least five shipbreaking workers have been killed and five more severely injured in a series of fatal accidents at the beaching yards in Bangladesh in only one month, according to data provided by NGO Shipbreaking Platform. At the end of May a worker died at Seiko Steel shipbreaking yard when he f
Taipei-based shipping company Wisdom Marine Lines has decided to enter the tanker shipping market as it ordered two new vessels in Japan, according to the company’s stock exchange filing. Namely, the order for the new 115,000 dwt oil tankers, placed with Japanese shipbuilder Japan Marine United (JMU
Chemical shipping company Navig8 Chemical Tankers Inc. has taken delivery of its first stainless steel chemical tanker, the Navig8 Sirius, from Japanese shipbuilder Kitanihon Shipbuilding Co. Ltd. Featuring 25,000 dwt, the Navig8 Sirius is the first of six vessels contracted at Kitanihon to be deliv
German-based Nordic Hamburg and the Finnish shipping firm Containerships have ordered up to eight short sea 1,400 TEU dual-fuel containerships at Chinese shipbuilder Huangpu Wenchong Shipyard. Under the agreement, CSSC (Hong Kong) Shipping, the shipowning arm of the shipbuilding group of the same na
Interview: New Panama Canal to Shift Trade Patterns As the inauguration of the Expanded Panama Canal approaches, World Maritime News spoke to Panama Canal Authority’s (ACP) Argelis Moreno De Ducreux on the expected impact of the new canal on the shipping industry… Read More Bulker Grounds in Mauriti
Japanese shipbuilding woes continued in May as well, as the country’s shipyards secured just eight export orders, totaling 290,400 gross tons, according to data released by Japan Ship Exporters’ Association (JSEA). The number of export orders more than halved during May, compared to the 17 export or
Australian shipbuilder Austal has secured a contract to design and construct a 109-meter vehicle passenger (RoPax) for Danish ferry operator Mols-Linien. The awarded AUD 100 million (approx. USD 74 million) contract is Austal’s fourth new commercial ferry contract in the past month. The newbuild wil
Finnish shipbuilding company Rauma Marine Constructions (RMC) has been awarded a contract to build a 158-meter long passenger-car vessel for the Danish ferry operator Mols-Linien, which marks the first shipbuilding order for this shipyard since its establishment in 2014. The order’s market value is
