Finnish cargo shipping company Containerships has ordered two additional dual-fuel engine container ships from Yangzhou Guoyu Shipyard in China. The Finnish end-to-end cargo operator announced earlier this year an order of two similar vessels. The company says it will be the first shortsea container
Aker Philadelphia Shipyard, Inc. (APSI) hosted a keel laying ceremony yesterday, September 24th for the first of four Crowley Maritime Corp. product tankers.The 330,000-barrel, Jones Act tankers are being built through a joint venture between Crowley and Aker. Keeping with the long-held shipbuilding
Maersk Line plans to set aside close to USD 3 billion a year for the period 2015-2019 to finance shipbuilding projects, in an effort to further solidify its position of the shipping company with the largest operating fleet, Reuters reports. “The current orderbook (is) not sufficient to grow with the
China Cosco Holdings Co (CCHC) said it has entered into deals for a total of ten boxships worth USD 420.4 million. Cosco has ordered six 81,600-dwt kamsarmaxes worth $188.88m in total, 31.4 million each, through its Prosperity Investment unit. The kamsarmaxes will be built by Chengxi Shipyard with e
The shipping industry is ready for the introduction of new technology, all we need is a new generation of tech-savvy middle and senior managers, says Dr. Martin Stopford, author of textbook Maritime Economics. “The introduction of new technology is hindered by the industry’s current wide-spread lack
Norwegian investment company Maritime Opportunities (MO) has bought two supramax bulk carriers from German Banks for USD 45 million, while cancelling contracts for two 36,000 dwt bulker newbuildings at Samjin Shipping Industries (SSI), China. The two 57,000 dwt bulkers Emerald Strait and Endeavour S
Los Angeles-headquartered Edison Chouest Offshore has begun construction works on a logistics support base and naval repair shipyard for its own vessels at the Port of Açu, located in Sao Joao da Barra in northern Rio de Janeiro-RJ, Brazil. In April 2014, Chouest and Prumo Logistica signed the initi
Cosco Qidong Offshore and Cosco Dalian Shipyard have secured contracts valued at approximately USD 230 million to build a Floating Accommodation Unit (FAU) and a Module Carrier, respectively. COSCO Qidong Offshore Co. secured a contract from an unnamed Singapore entity to build the FAU, scheduled fo
Safe Bulkers, Inc., an international provider of marine dry bulk transportation services, has entered into a USD 210 million, six-year credit facility agreement with Norway’s DNB Bank ASA, secured by ten vessels. Athens-based Safe Bulkers will use the new credit facility to finance the acquisition o
Canada’s BC Ferries is planning to convert its two largest vessels, the Spirit of Vancouver Island and the Spirit of British Columbia, to dual fuel, as well as make modifications to the hull, in order to save approximately CAD 9.2 million per year over the remaining 27-year life cycle of the two ves
A USD 324.6 million Title XI loan guarantee has been approved to TOTE Shipholdings to finance the construction of two container ships that will utilize liquefied natural gas (LNG) as propulsion fuel, U.S. Transportation Secretary Anthony Foxx announced on Monday. The Title XI Loan Guarantee program
The 2014 had been a much more rewarding year for owners than 2013 with positive spikes seen in the spot market and a definite shift in sentiment, with reasonable expectations for the second half of the year, according to the UK shipbroker Gibson. Based on Gibson’s latest Weekly Tanker Report, some 3
An enraged mob of around two hundred aquaculture farmers and close to one thousand locals from Guangzhou province forced their way into Fujian Huadong Shipyard, smashing the office building and parts of the shipyard infrastructure, forcing the shipyard to temporarily suspend its operations, Reuters
The State of Alaska and Vigor Industrial have reached a final agreement to construct two Alaska Class Ferries at Vigor Alaska in Ketchikan. The vessels will be the first Alaska Marine Highway System ferries built in Alaska. Alaska’s Governor Sean Parnell made the announcement at a community event he
