Australian livestock ship owner and operator Wellard Ltd has finalized the financing of its livestock carrier M/V Ocean Shearer with Intesa Sanpaolo S.p.A., Hong Kong Branch. The 10-year loan in the amount of USD 59 million, which is backed by a commercial risk insurance policy from China Export & C
Miami-based Royal Caribbean Cruises Ltd. has signed a memorandum of understanding with French shipbuilder STX France to build a fifth Oasis-class ship and two additional Edge-class ships. The vessels are scheduled to join their owner in the spring of 2021 and the fall of 2021 and 2022, respectively.
Troubles for South Korean shipbuilders keep on coming the latest victim being STX Offshore & Shipbuilding Co. Specifically, the financially troubled shipyard is likely to enter court receivership as creditors plan to end its financial aid stretching for years now, Yonhap reports citing industry sour
Shipping company d’Amico International Shipping S.A. launched two new 39,000 dwt Handysize eco product tankers today at the Vietnamese Hyundai Vinashin Shipyard Co. Ltd. The tankers, named Cielo di Capri and Cielo di Hanoi, feature a length of 184 metres and a width of 27.4 metres. These two eco-shi
Dutch shipbuilder Damen has unveiled the design of the first of a new class of Damen utility vessel UV2410, which is expected to start construction shortly. The main requirements for the new Utility Vessel 2410 were that its length does not exceed 24 meters and that it fits within the 200 gross tonn
French shipbuilder STX France has decided to sell its Lorient shipyard located in Lanester to Kership, a joint venture between French industrial shipbuilder Piriou and naval manufacturer DCNS established in 2013. The sale is to be completed in fall this year, according to STX France. The company sai
Singapore-based global marine and offshore engineering company Sembcorp Marine Ltd said it would rigorously defend itself in Petrobras fraud case if it is called to court. The announcement was issued as a response to media reports saying that Sembcorp Marine Ltd and its subsidiary Jurong Shipyard Pt
Genoa-based classification society RINA has signed an agreement for the acquisition of the Edif Group, the UK provider of technical inspection and engineering consultancy services, for £118.5 million (around USD 173.24 million). The acquisition results in an expanded international geographic footpri
Oslo-listed shipowner and dry bulk transporter Pioneer Marine has decided to terminate the last two of its newbuilding contracts for Green Dolphin 38,400 dwt Handysize bulkers following a mutual agreement with Chinese Yangzhou Guoyu Shipyard. According to the company, the instalments paid in relatio
Tokyo-based Kawasaki Kisen Kaisha, Ltd. (K Line) has expanded its coal carrier fleet with the latest addition of an 88,000 dwt-type special coal carrier Corona Victory on May 24. Featuring a length of 230 meters and a width of 38 meters, Corona Victory was handed over at the Japanese Marugame Shipya
US-based Philly Shipyard has entered into a definitive loan agreement with Caterpillar Financial Services Corporation (Cat Financial) for a USD 150 million loan facility to finance the construction of four product tankers being built for Philly Tankers LLC. The conclusion of the financing follows a
Shipyards in Europe received in the first quarter of 2016 more orders than their competitors in Asia, German Shipbuilders and Ocean Industries Association Verband für Schiffbau und Meerestechnik (VSM) reports. Namely, out of USD 6.5 billion worth orders on a global scale placed in the first quarter
Asia/Pacific based owners could get back at the lead as largest market holders of the world fleet, thus reversing the recent trend that saw European owners at the forefront. Namely, Asia/Pacific based owners hold the largest proportion of the orderbook, 45.7%, with 23.2m GT more on order than their
Iceland’s Eimskip and Greenland-based Royal Arctic Line signed a letter of intent to connect Greenland into Eimskip’s international sailing system through a capacity sharing agreement involving larger vessels. Under the agreement, the companies plan to invest in and operate three approximately 2,000
