Singapore-headquartered gas carrier owner and operator BW LPG has reported a net profit after tax of USD 255.7 million in fiscal year 2014, over two times more compared to USD 125 million profit recorded in 2013. Operating revenue increased to USD 747.4 million in FY 2014, compared to USD 449.2 mill
The Estonian ferry operator AS Tallink Grupp and Finland’s Meyer Turku Oy signed a contract for the construction of an LNG-powered fast ferry for Tallinn-Helsinki route shuttle operations. The 49,000 GT dual fuel ship will be about 212 metres in length with a passenger capacity of 2,800. The fast fe
Canadian shipbuilder Davie laid keel on Thursday, February 26th for MV Armand-Imbeau II, the first of two LNG-powered sister-ships being built for the Société des traversiers du Québec (STQ). The two ferries for the Tadoussac‒Baie-Sainte-Catherine route are built for year-round navigation on the Sag
Danish liner giant Maersk Line seems to be ready to add more capacity to its fleet, after four years of no new orders. The order under consideration could reach up to 11 Triple E containerships worth approximately USD 1.8 billion. “We need to grow with the market and increase our capacity by 425,000
The High Court in London, UK has ordered repayment of installments and interest on the last four contracts cancelled by Golden Ocean Group Limited (GOGL) at China’s shipbuilding Zhoushan Jinhaiwan. Golden Ocean said that it has received USD 72 million in refund of installments and interest from Ji
Singapore-based Yangzijiang Shipbuilding has reported net profit attributable to shareholders of RMB 3.48 billion (USD 555.2m) for the twelve months ended December 2014, a 13% increase year-on-year spurred on by higher revenue and diversified portfolio, the Chinese shipbuilder said in a stock filing
Dry bulk transportation company Safebulkers has entered into recapitulation agreements for the delayed delivery of 6 out of the 11 contracted newbuild vessels. As a result, three vessels are set for delivery in 2015 instead of five; four vessels are to be delivered in 2016 instead of five; three ves
South Korean LPG and chemical shipping company KSS Line has signed a financing deal with Korea Development Bank (KDB) for one of its newbuilds. Under the deal, signed on February 26, 2015, KDB will provide financing for a 84,000 cbm very large gas carrier (VLGC). The value of the financing deal has
Crude market sparked considerable interest in 2014 with 170 crude tankers of a combined 35.7m dwt reportedly sold, more than double the volume of crude tonnage sold in 2013, Clarksons reports. Rise in crude sales volumes has been attributed to increased interest in larger tonnage, with 47% of crude
Ignazio Messina & C. has taken delivery of what the Italian shipping company claims to be world’s largest ro-ro container ship, Jolly Cobalto, at the South Korean STX Offshore & Shipbuilding shipyard in Jinhae. The new vessel, flying under the flag of Italy, is starting its maiden voyage to Europe w
The US Jones Act tanker operator Philly Tankers LLC, a wholly owned subsidiary of Philly Tankers AS, has entered into binding long-term time charter contracts with an unnamed US operator for the two 50,000 dwt product tankers the company has on order with Aker Philadelphia Shipyard (AKPS). The chart
WesPac Midstream and its affiliate Clean Marine Energy have signed a construction contract with Conrad Orange Shipyard, a division of Conrad Shipyard, to build the first dedicated LNG bunker barge for the marine market in North America. The first 2,200 cubic meter (cbm) barge is expected to be deliv
On Saturday the 21th of February, shipbuilder Ferus Smit launched its multi-purpose carrier MV Nordana Sky in Leer, Germany. M.V. Nordana Sky, built as yard number 417, is the first in a series of six that will be delivered to Symphony Shipping. Dutch Symphony Shipping has ordered two DP2 ECOBOX-des
The Sub-Committee on Ship Design and Construction of the International Maritime Organization (IMO) approved amendments to SOLAS and other international documents at its second session (SDC2) held on February 16-20, 2015 at IMO Headquarters in London. The Sub-Committee approved the amendments to SOLA
