South Korean shipping company Heung-a-Shipping has placed an order at compatriot shipbuilder Dae Sun Shipbuilding and Engineering Co for two small clean chemical/product tankers. The 6,500 DWT duo is slated for delivery in 2018 from the yard. The value of the contract has not been disclosed. The shi
Tanker owner and operator Frontline has secured a commitment for a senior secured term loan facility worth up to USD 328.4 million with China Exim Bank that will be used to finance eight newbuildings. Specifically, the facility will be secured by four Suezmax tankers and four LR2 tankers, it matures
Tokyo-headquartered shipbuilder Japan Marine United Corporation (JMU) has increased its orderbook as it received a contract to build a 10,000 gross ton RoRo vessel, according to data provided by VesselsValue. Under the contract, signed with an undisclosed buyer on May 27, the new 6,200 dwt ship is e
On May 27, Queen Mary 2 docked at Hamburg’s terminal Steinwerder carrying 2,000 passengers. In the next few weeks, the cruise ship will undergo a major refit – the biggest in its 12-year history – at German Blohm+Voss shipyard. The video shows the cruise ship being pulled by a tug into the dry-dock
In today’s spotted we bring you the Academician Pashin – the first tanker built for the Russian Navy since the end of the Soviet Union. The vessel was launched at Nevsky Shipyard on May 26. Nevsky says Academician Pashin is the biggest vessel ever launched at this shipyard. Its construction was carr
UAE-based Tristar Group held on May 28 a naming ceremony for the Silver Manoora, the first of six MR product/chemical tankers ordered from South Korean shipbuilder Hyundai Mipo Dockyard (HMD). “This is indeed a red letter day for Tristar. Today we are proud owners of a brand new ship with five more
South Korean cash-strapped shipbuilder STX Offshore & Shipbuilding Co. has filed for court receivership with the Seoul Central District Court, Yonhap news agency informs. The Friday filing came as creditors decided to end their years-long financial aid to the yard, especially since the company lacks
Finnish engineering company Wärtsilä has been awarded the contract to provide integrated turnkey electrical solutions for four new RoRo ferries being built at the Flensburger Schiffbau-Gesellschaft (FSG) in Germany. The vessels are contracted by SIEM RoRo Carriers and two are to be chartered to Denm
Interview: Ship Value in Almost All Sectors Close to Historical Lows In May 2011, the mapping, ship search and valuation provider, VesselsValue launched its business operation, introducing a new approach to vessel valuation coined the quantitative analysis… Read More European Shipyards Overtake Asia
Japanese shipping company NYK Line has ordered two Very Large Gas Carriers (VLGCs) for transportation of liquefied petroleum gas from its compatriot Japan Marine United Corporation (JMU). The two 84,000 cbm newbuilds are slated for delivery in January, 2019 and are priced at USD 75 million each, acc
Following a scrapping spree witnessed in the first quarter of the year, the Baltic Dry Index’s (BDI) positive effect on capacity being removed from the fleet did not continue into the second quarter of 2016, as capesize demolition came to a halt, according to BIMCO. The BDI went from “devastating” i
Norwegian tanker owner Stolt Tankers, a tanker shipping arm of Stolt-Nielsen Limited, has sold two handy chemical parcel tankers for demolition in India. The two ships are 38,800 DWT Stolt Topaz and 38,700 DWT Stolt Aquamarine, built in 1986 by South Korean Daewoo Shipbuilding and Marine Engineering
Oslo-listed LPG tanker owner Aurora LPG Holding ASA has signed the term sheet for the financing of its sixth and final newbuild vessel under construction at South Korean shipbuilder Hyundai Heavy Industries, the company said in its financial report. Furthermore, Aurora LPG secured the refinancing of
Italian shipbuilding major Fincantieri informed yesterday that its new Board of Directors confirmed Giuseppe Bono as the company’s CEO, a position he has held since 2002. The new BoD of Fincantieri, appointed by the shareholders’ meeting held on 19 May 2016, will remain in office until the the appro
