The VLGC market has reached and is maintaining historically high levels, based on first semester results of the EXMAR Group, owner and operator of LNG and LPG carriers. According to the company, the recent freight upturn has been mainly driven by the arbitrage between US and Asian product prices,
Korean shipping companies will benefit from an ‘eco-ship fund’ worth USD $976 million Korea Eximbank (Kexim) plans to launch so as to boost domestic shipping companies in switching to green technology. The fund is expected to open for business this November, with the contribution from the South Ko
The U.S. sanctions against Russian state-owned naval designer and shipbuilder JSC United Shipbuilding Corporation (USC) will make life difficult for the company, especially with respect to financial transactions with payments in USD, according to the Corp. President Alexey Rakhmanov. However, the sa
Fincantieri and Princess Cruises, brand of US cruise group Carnival Corporation & plc. have reached an agreement to build a new cruiser ship for the company at an all-in cost for the shipowner of approximately 600 million euros (USD 804m). The 143,000-ton ship, which will enter service in 2017, wi
MOL Ship Management Co., Ltd., has obtained certifications from Nihon Kaiji Kyokai (NK), for Energy Management Systems (ISO50001) and Environmental Management Systems (ISO14001). NK Executive Vice President Koichi Fujiwara presented the certificates to Molship President Kazunori Furukawa in July 2
Navios Maritime Partners L.P., an international owner and operator of drybulk and container vessels, has had a strong financial performance according to its financial results for the second quarter ended June 30, 2014. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, said
Russian Maritime Register of Shipping (RS) has signed a contract with Baku Shipyard LLC for the construction of three 38М high speed crew boats (designer – SHIPTECH, Singapore) for Azerbaijan State Caspian Sea Shipping Company. Construction is set to begin in August 2014 and the boats should be deli
GTT (Gaztransport & Technigaz) has disclosed the order of nine Liquefied Natural Gas Carriers (LNGC) which will be built by the Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME). Six new ships will be owned jointly by TEEKAY & CLNG and the three others will be owned jointly by MOL
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, has taken delivery of M/V Peloreus, a 182,000 dwt Capesize built by Japan Marine United (JMU). The vessel is the first of six similar vessels ordered at JMU, with expected deliveries until the 3
VIDEO: Float-On and Transport of Costa Concordia Onboard Dockwise Vanguard Following the successful parbuckling of Costa Concordia, and in anticipation of the pending refloat, Dockwise, a wholly-owned subsidiary …Read more Dockwise Vanguard to Transport Costa Concordia Wreck? Dockwise Vanguard may b
The Supreme People’s Court of China has blacklisted Jiangsu Eastern Heavy Industry (JEHI), a subsidiary of Singapore-listed JES International for failing to settle its debt obligations. JEHI has yet to pay up RMB15m (USD 2.4m) stemming from 5 separate lawsuits filed between January and April 2014
A Singaporean owner has placed an order for two 34,500 dwt chemical tankers with Chinese shipbuilder Taizhou Sanfu Shipbuilding, the builder announced. The ships will feature a length of about 180m, breadth of 30 m and a design draft of 9.20 m. Further details on the order have not been revealed.
The U. S. Coast Guard has awarded a USD 255 million contract option to Bollinger Shipyards of Lockport, La. for the production of six more Sentinel-class Fast Response Cutters (FRCs). This option award brings the total number of FRCs under contract with Bollinger to 30, with a current contract val
Mitsui Engineering & Shipbuilding Co., Ltd. has received the first order for electronically controlled gas injection diesel engine (ME-GI) from Crowley Maritime Corporation. MAN B&W 8S70ME-C8.2-GI will be installed on 2 x 2,400 TEU + 400 vehicles ConRo ships to be built by VT Halter Marine Inc. ME
