COSCO Corporation (Singapore) Limited, a shipbuilding, marine engineering and dry bulk shipping group, suffered a net loss of SD 570 million (USD 423 million) compared to net profit of SD 20.9 million for the previous year. According to Wang Yu Hang, the Group’s Chairman, the significant net loss is
German shipbuilder Lloyd Werft has been hired to convert the Danish Ro-Ro ferry Primula Seaways, a job that will see the ferry lengthened by 30 meters. Under the contract, Lloyd Werft Bremerhaven will have 31 days to execute the task starting July 1st, with options for two further DFDS ships. The 19
Japanese shipyard Imabari Shipbuilding has installed the first SOx scrubber in Japan onto a new 84,000 dwt bulk carrier MV Nadeshiko built for an undisclosed local shipowner. After its completion, the vessel will conduct data collection and verification on the system, maintenance and operation. This
As the pains of the dry bulk market protract into this year as well owners feel propelled to delay deliveries of their fleet additions as they struggle to find decent rates for the existing fleet units. This is particularly hurting Capesize owners who have pushed half of their Capesize newbuildings
Global towage operator Svitzer has signed a contract with the Damen Shipyards Group for four ATD 2412 tugs as part of Svitzer’s ongoing fleet renewal programme. All four tugs are being built at Damen Song Cam Shipyard in Vietnam. Damen is handing over the first two vessels just one month after contr
You don’t get the chance to see such a huge engine being fitted into place every day. This state-of-the-art piece of equipment weighs 759 metric tons and measures 41 feet (12.4 meters) in height, 41 feet in length, and 14.7 feet width. The Man Diesel-built ME-GI engine will power El Coquí, the first
Malaysia-based offshore marine company Nam Cheong Limited has received a notice of termination for the sale of one accommodation work barge from Petra Offshore Ltd (POL), a subsidiary of Bursa-listed Perdana Petroleum Berhad. “The group’s position is that the purported notice of termination/cancella
Crude oil shipping company Gener8 Maritime has taken delivery of the “ECO” VLCC the Gener8 Success from Chinese shipbuilder Shanghai Waigoqiao Shipbuilding Co. The Gener8 Success represents the eighth of 21 “ECO” VLCCs expected to be delivered into Gener8 Maritime’s fleet. Upon delivery, the Gener8
The solution to the increasing number of laid up Platform Supply Vessels (PSVs) resulting from the current predicament facing the offshore oil and gas industry lies in conversion, according to the Dutch shipbuilder Damen Shipyards Group The group believes that the situation could be turned around an
Norway-based liquid petroleum gas transporter Aurora LPG Holding ASA has taken delivery of two very large gas carriers (VLGCs) Aurora Balder and Aurora Njord, according to a stock filing. Featuring a capacity of 84,000 cbm, the new vessels were built and delivered by the South Korean shipbuilder Hyu
The Chinese shipbuilders have had a rough year start with orders plunging by 75.1 % during the first two months of 2016 when compared to the order intake recorded last year. Specifically, the Chinese yards received orders amounting to 950,000 dwt adding further to the prevailing woes of the market d
Nicaragua Canal Construction Works Poised to Start in August The construction on the fuel terminal and a ship wharf within the USD 50-billion Nicaragua canal project is set to start in August, Bloomberg reports citing the project con… Read More US-Built Fleet Much Older than Global Fleet due to Jone
Korea Exchange-listed shipbuilding major Daewoo Shipbuilding and Marine Engineering (DSME) has reported a lower full-year loss following an audit of the company’s financial figures. The company said in an exchange filing today that its full-year loss for 2015 was cut to KRW 3.31 trillion (USD 2.83 b
South Korean shipbuilder Hanjin Heavy Industries and Construction (HHIC) has sealed a deal with its creditors on the shipbuilder’s self-rescue plan that will see the two parties enter joint management of the company. However, the agreement, set to enter into force in the coming month and a half, sti
