In its latest attempt to fight liquidity woes, the financially-troubled South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) decided to sell its Seoul headquarters building for a price of KRW 180 billion (USD 152 million). The company entered into a leaseback agreement with Kor
Navig8 Product Tankers Inc has taken delivery of the Navig8 Grace, a 113,000 DWT LR2 tanker from China-based CSSC Offshore & Marine Engineering Company Limited, formerly known as Guangzhou Shipyard International Company. The Navig8 Grace is the first of eight vessels contracted at CSSC Offshore to b
Korean Register (KR) has signed a Memorandum of Agreement to establish a joint venture company with the Iranian Classification Society (ICS). The company will be called the ‘Iran-Korea Technology Assurance Company’, with 50-50 capital investment from KR and ICS and it is planned to be fully operatio
Danish Ship Finance: Shipyards Could Be Left without Orders by 2017 It is essential that new orders are placed within the next three to six months for the yard industry to fill up its orderbooks for 2017, according to Danish Ship Finance… Read More UASC to Vote on Hapag-Lloyd Tie-Up in June Dubai-ba
South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has reached an agreement with the Russian state-owned shipping company Sovcomflot to postpone the delivery of an ice-breaking liquefied natural gas (LNG) vessel which was scheduled to join its owner in June 2016. The shipbuil
Recent changes to the Canadian Federal government’s New Building Canada Fund (NBCF) aim at enabling significant investments in infrastructure systems, including ferry replacement and refits, paving way for ferry owners, operators and shipbuilders to benefit from this initiative. Ferry operators acro
In a colorful arrival, China Merchants Energy Shipping (CMES) welcomed yesterday its new very large crude carrier (VLCC) New Constant. The vessel’s naming and delivery ceremony was held at Dalian Shipbuilding Industries’ shipyard. The New Constant is a 319,000 dwt tanker, having a gross tonnage of 1
Finland’s container shipping firm Containerships has pushed the delivery of its first of four short sea LNG-powered vessels until early 2018 due to a change in the shipyard, the company said. The Chinese Yangzhou Guoyu Shipyard was initially entrusted with the construction, however the company did n
Philly Shipyard (PSI), part of Philly Shipyard ASA, held yesterday a keel laying ceremony for the second product tanker in a four-vessel order for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan. Once completed in 2017, the tanker will be 600 feet long and capable of carrying 50,000
Danish shipping and logistics company DFDS has entered into an agreement with the Siem Group to bareboat-charter two RoRo freight newbuilds for a five-year period, with an option to buy the vessels. The two ships will be built by German shipyard Flensburger Schiffbau-Gesellschaft that previously del
It is essential that new orders are placed within the next three to six months for the yard industry to fill up its orderbooks for 2017, according to Danish Ship Finance. The orderbook is rapidly approaching the low levels seen at the start of 2013, but 2016 looks to be a reasonable year for shipbui
As we like to put a spotlight on the newbuilds in our spotted articles, in today’s feature we bring you the freshly delivered tanker to Latvian Shipping Company’s subsidiary LSC Shipmanagement, the Elandra Oak. The 49,999 dwt vessel, boasting a length of 183 meters and a width of 32 meters, forms pa
South Korean shipbuilder Samsung Heavy Industries (SHI) has submitted its self-rescue plan to its main creditor, the state-run Korea Development Bank (KDB), the Korea Herald reports citing a company official as saying on Tuesday. The plan, aimed at restoring the company’s liquidity, reportedly inclu
Russia’s shipbuilding industry is planning on returning to the cruise ship market as the country’s shipbuilder JSC United Shipbuilding Corporation (USC) revealed its intentions to build the first cruise vessel in 60 years. The company announced the plans during the 6th International Forum “Marine In
