Four Chinese shipping companies have received subsidies from the Chinese government worth a total of USD 293.3 million for retiring old ships and upgrading their fleets, writes Reuters. China Shipping Development Co (CSDC) and China Shipping Container Lines (CSCL) announced in separate stock exchang
South Korea’s Samsung Heavy Industries Co. (SHI) has revealed plans to spread overseas by establishing the first facility abroad in an effort to revive production following the merger of Samsung’s shipbuilding and engineering units. Bloomberg reports that SHI is ready to invest around USD 950 millio
The image depicts what is envisaged to be the most pleasant hospital in the world, dubbed the White Sails Hospital & Spa. The medical facility, designed by Russian architect Vasily Klyukin, is planned to be built in Tunisia Economic City (TEC). A mammoth, ship-shaped structure would span across the
The former board chairman of China’s state-owned Hudong-Zhonghua Shipyard, Gu Tiquan, has been charged for taking bribe by the state’s Supreme People’s Procuratorate. Gu Tiquan was arrested in May under suspicion of having committed “serious violations”. The charges form part of a comprehensive corr
Mitsubishi Heavy Industries, Ltd. (MHI) has received an order from Astomos Energy Corporation for a very large liquefied petroleum gas (LPG) carrier. The LPG carrier on order is identical to vessels ordered from MHI by Astomos Energy late in 2013, and again in spring 2014. The carrier will offer fle
New York Stock Exchange-listed Dorian LPG Ltd., an owner and operator of Very Large Gas Carriers (VLGCs), has taken delivery of the ECO VLGC “Corsair” from Hyundai Heavy Industries. The “Corsair” will initially trade in the spot market and is the second newbuilding to be delivered to the company thi
Singapore Main Board-listed Nam Cheong Limited has sold one 5,150 bhp Anchor Handling Towing Supply Vessel (AHTS) to Norway’s Vega Offshore Group, and two 6,500 bhp AHTS; one to Dutch Vroon B.V., and the other to an unnamed ”repeat customer” in Asia. The company says that these three contract wins w
Navig8 Chemical Tankers Inc. has signed resale purchase agreements with an unnamed agribusiness group to purchase two ECO 49,000 dwt chemical tankers currently under construction at Hyundai Vinashin Shipyard Co. Ltd. The tankers were originally ordered by the agribusiness group, speculated to be Wil
Monaco-based tanker owner Scorpio Tankers Inc has taken delivery of four newbuilding vessels and agreed to time charter-in an LR2 product tanker that is currently under construction in South Korea, the company said. The following vessels have joined Scorpio’s tanker fleet: STI Orchard, an LR2 produc
The German Shipyard Flensburger Schiffbau-Gesellschaft (FSG) has found a new owner. The Norwegian controlled Siem Industries will take over command of the shipyard, including all its employees. Peter Sierk and Frank Bywater, the two Managing Directors of FSG, welcomed these recent developments. “We
Malaysia’s Petroliam Nasional Bhd (Petronas) started lifting of the first topside module for floating liquefied natural gas (PFLNG1) facility at the Quayside of Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in Okpo, South Korea, on September 22. The topside module lifting marks the near
The UK’s Crown Estate and the Energy Institute (EI) have collaborated on the development of the publication ‘Construction vessel guideline for the offshore renewables industry’ to support the safe and successful delivery of offshore renewable energy projects in the UK, The Crown Estate says in a rel
MSC Armonia, the first of four MSC’s cruise ships to be enlarged and enhanced under the €200m Renaissance Programme, will be relaunched on 19 November for an inaugural cruise. MSC Armonia’s comeback cruise will depart from Genoa, Italy, on 19 November 2014 with her sights set on Las Palmas in the Ca
British-American owned cruise line Carnival Corporation & plc has raised its expectations for the full year 2014 net revenue yield amid improvement in booking trends. “The sustained improvement in booking trends as we have progressed through the year combined with yield increases in the second half
