Japanese shipping company NYK Line has taken delivery of a new 14,000 TEU containership, NYK Blue Jay, from the Kure shipyard of Japan Marine United Corporation. The vessel employs a hull form that allows for improved cargo-loading efficiency, which is achieved by minimizing engine-room space. The v
The National Shipping Company of Saudi Arabia (Bahri) has signed a Memorandum of Agreement (MoA) to purchase a very large crude carrier (VLCC), the Hanjin Ras Tanura, for USD 75 million. The ship, built in 2011 at Hyundai Heavy Industries in South Korea, will be delivered to Bahri in March 2016. The
Owner and operator of pressurized gas carriers Epic Gas has taken delivery of a 7,500 cbm vessel Epic Borinquen from Japan’s Sasaki Shipyard. The Singapore-based company said that the newbuilt ship will now start operating on its time charter agreement for trading in Asia. According to Epic Gas, thi
Monaco-based bulker owner Scorpio Bulkers has struck a deal in principle with its lenders to amend the minimum liquidity covenant and reduce future principal repayments under its credit facilities. The reduction relates to all its loans greater of USD 50 million and USD 850,000 per vessel, to a new
Danish shipping company Hafnia Tankers signed a USD 360 million loan on February 23 to refinance twelve medium range (MR) product tankers and provide post-delivery financing for the company’s six MR newbuilds. The credit, set to mature in March 2023, is comprised of a USD 124 million term loan, a US
Nasdaq-listed owner and operator of Very Large Gas Carriers (VLCC) Dorian LPG Ltd. took delivery of its 19th and final scheduled newbuilding. The ECO VLGC Caravelle was delivered from Hyundai Samho Heavy Industries and will trade in the Helios LPG Pool, the company said. In addition, Dorian LPG anno
Italy-based oil and gas company Eni has received an approval to construct and install a floating liquefied natural gas (FLNG) facility with a capacity of around 3.4 mtpa at the Coral discovery, offshore Mozambique. The company said that the FLNG facility is part of the development located in water m
ST Marine, a marine arm of Singapore’s ST Engineering, has placed its China-based ST Marine (Wuhan) Engineering Design Consultancy under members’ voluntary liquidation. ST Engineering said that the decision to liquidate the design firm is a result of the company’s ongoing business review aimed at st
The influx of tonnage is expected to drive down tanker shipping rates towards the end of the year, according to the latest edition of Drewry’s Tanker Forecaster. The projection comes as tonnage supply, which has increased at a slow pace in recent years, is expected to accelerate in the next two year
The President and CEO Anil Sharma of GMS, a cash buyer of ships for recycling, has called on owners and brokers to support sustainable recycling practices and voiced support for the increased and significant investment in South-East Asian yards. Sharma also criticised proponents of total bans on bea
China Ocean Shipping Corporation’s (Coscocs) plans to up the ante by reaching a 2 million TEUs operational capacity mark by the end of 2018 will not include new orders. Coscocs, created from a merger between China Shipping and Cosco, has no intention to order a substantial number of containership ne
French container shipping giant CMA CGM denied media reports on being in preliminary discussions with Korean shipbuilders on a potential order for new ultra-large containerships. Namely, CMA CGM was reported to be in talks with Korean big three Hyundai Heavy Industries (HHI), Daewoo Shipbuilding and
Fincantieri shipyard in Marghera, Italy, held a coin ceremony on Monday for Seabourn Encore cruise ship, being built for small ship cruise line Seabourn. During a coin ceremony two commemorative gold coins are welded to the ship’s mast. “The coin ceremony represents not only another momentous milest
Croatia-based shipbuilder Uljanik confirmed that it signed a contract for the construction of a luxury cruise ship in Pula’s shipyard with the Australian company Scenic in November of 2015. The cruise ship will be able to accommodate up to 240 passengers and 172 crew members. The vessel, scheduled t
