Angola’s oil company Sonangol has placed an order for two 156, 290 TDW crude oil tankers with South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME). The contract signing ceremony was held on Thursday, December 11th in Seoul, South Korea. The Suezmax vessels will feature 274 mete
The United States Senate approved the National Defense Authorization Act for Fiscal Year 2015 (H.R. 3979), which states that the U.S. national security benefits of the domestic maritime industry and the Jones Act are unquestioned, and is seen as the strongest statement of support for the Jones Act a
Golar LNG Limited has agreed to sell its ownership interests in the companies that will own and operate the floating storage and regasification unit (FSRU) Golar Eskimo to Golar LNG Partners L.P. for a price of USD 390 million. The transaction is expected to be finalized in January 2015. The deal is
South Korean shipbuilding giant Daewoo Shipbuilding and Marine Engineering (DSME) has secured an order for construction of six LNG carriers worth approximately USD 1.24 billion. The order has been agreed with an undisclosed European shipowner, according to the shipyard’s filing with Korea stock exch
Stronger freight rates in the tanker market may bring about some positive trends for the first quarter of 2015, if lower oil prices can continue to generate higher demand for product tankers, BIMCO said. The stronger freight market has been attributed to the supply side, in particular the newbuildin
On Friday the 12th of December, shipbuilder Ferus Smit launched newbuild Nb. 413, christened as Arklow Brave, at its Westerbroek yard. She is the fifth vessel in a series of six that will be delivered to Irish Arklow Shipping. The design is a bulk oriented general cargo ship that will be mainly empl
Six new bulk carriers, being built at the Namura and Onomichi shipyards in Japan, are to be fitted with 12 Wärtsilä Aquarius UV ballast water management systems (BWMS), which will enable the vessels to comply with anticipated International Maritime Organization (IMO) regulations. Japan has recently
World’s Largest Containership Starts Maiden Voyage 19,100 TEU CSCL Globe, the world’s largest container ship and the first in a series of five same-sized ships ordered by China Shipping Container Lines (CSCL) in May 2013…Read more MPHRP Outraged by Court Decision to Compensate Pirates Decision of th
Damen Shiprepair Vlissingen (DSV) has completed refurbishment of cruise ships Astor and Marco Polo, both operated by Cruise & Maritime Voyages. The vessels have been at DSV for a wide-ranging programme of work, scheduled and unscheduled, Damen said. Astor, featuring passenger capacity of just over 6
The number of idling ships in the container shipping sector has been reduced to almost zero. However, a question arises on what will be the next step on the supply side for container shipping, according to BIMCO. As the remaining issue in the sector are poor earnings with charter markets at record l
The outlook for 2015 looks a bit dull on the demand side for dry bulk shipping, whereas the supply side seems to provide the same amount of new capacity as in 2014, BIMCO forecasts. As explained, such a development will not improve the fundamental market balance and Supramaxes in particular seem to
Two new unified requirements have been developed by the International Association of Classification Societies (IACS) as a result of a post review on MOL Comfort sinking. The casualty of MOL Comfort which occurred on 17 June 2013 saw the vessel’s hull split in two. The two new requirements are: UR S1
General Dynamics NASSCO and Braemar LNG BV, a wholly owned subsidiary of Braemar Shipping Services PLC, have signed a technology licensing agreement for Braemar to use NASSCO’s intellectual property in their design and construction of Flat-Panel, Semi-Membrane, Prismatic-Shaped (FSP) LNG containment
VTT Technical Research Centre of Finland and Rolls-Royce today unveiled their latest vision of Ship Intelligence – a futuristic ship’s bridge concept which could become reality by 2025. Rolls-Royce predicts that Ship Intelligence will be the next major transition for the shipping industry as ships a
