Russia’s state-owned shipping company Sovcomflot has placed its first order for a $316 million worth liquefied natural gas (LNG) carrier. South Korean shipbuilder, Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) will be responsible for the construction of this ARC7 ice-class tanker, the fir
Vard Holdings Limited (VARD) has secured new contracts for the design and construction of two Platform Supply Vessels (PSV) for Mermaid Marine Australia Limited (MMA). The vessels will be delivered from Vard Vung Tau in Vietnam in 4Q 2015 and 1Q 2016 respectively. The vessels are multifunctional PSV
Ocean Yield ASA, a company with investments within oil-service and industrial shipping, is contemplating the issuance of new unsecured bonds in the Norwegian bond market with maturity in March 2019. The net proceeds from the contemplated bond issue will be used to refinance existing bonds and for ge
Boxship Yusuf Cepnioglu Runs Aground off Greece The 116m-long Turkish boxship, Yusuf Cepnioglu ran aground on the coast of Mykonos island, the Aegean Sea, Hellenic Coast Guard reported on Saturday, March 8th 2014. VARD Secures Its Largest Single Vessel Order Vard Holdings Limited (VARD) has entered
Scorpio Tankers Inc. has entered into an agreement to sell its seven Very Large Crude Carriers (VLCCs) under construction for cash and record a gain of approximately $50 million. This transaction is subject to the execution of definitive agreements and satisfaction of customary closing conditions an
After the latest batch of up to twelve newbuildings to be built at STX, Navig8 Product Tankers Inc. is going to order more long-range-one (LR1) vessels from another South Korean shipbuilder. Namely, in late February, Navig8 placed a $580 million order at STX Offshore & Shipbuilding Co. Ltd. for the
The official christening of the ‘World Sapphire’ has marked the completion of a six-ship order whereby Damen Shipyards has delivered six Platform Supply Vessels to Norwegian company World Wide Supply AS in just six months. The Damen PSV 3300 features a radical design rethink, with a wave piercing bo
Aker Philadelphia Shipyard ASA (AKPS) is working with several interested parties to enter into definitive shipbuilding contracts for four product tankers (Hulls 025-028) and agreement for joint ownership in the vessels. American Shipping Company ASA (AMSC) has a positive outlook on the Jones Act mar
The icebreaking rescue vessel Baltika returned from the first sea trials. The vessel left for sea trial on Thursday morning 6 March 2014. The sea trial was part of the test use of the ship, which is done to assure the functionality of the vessel systems. Baltika is a Russian icebreaker designed by A
DHT Holdings, an independent crude oil tanker company, has advanced the delivery dates of two very large crude carriers (VLCCs). On March 11, 2014, DHT Holdings entered into an amendment to its shipbuilding contracts for Hull Nos. 2781 and 2783 with Hyundai Heavy Industries Co., Ltd. in South Korea
Landing Helicopter Dock ship, the Canberra, one of the largest ships ever built for the Royal Australian Navy, yesterday entered Sydney Harbour for the first time. “Canberra”, the first of two LHDs being built by the BAE Systems’ Williamstown yard for the Australian Defence Force, entered Sydney aft
Australia’s leading national submarine and shipbuilder, ASC, has welcomed 23 new apprentices to its workforce. ASC Managing Director and Chief Executive Officer, Mr Steve Ludlam, said this takes ASC’s total number of apprentices to 137. “ASC is proud to be one of the largest employers of apprentices
Siemens Drive Technologies Division is to supply an integrated drive and power generation solution for a multipurpose offshore construction vessel (MOCV) currently being built by Hyundai Heavy Industries Ltd. (HHI) for Toisa Ltd. and will be managed by Sealion Shipping Ltd, a global shipping and sup
Cecon Shipping 2 AS, a subsidiary of Rever Offshore AS, said today that it has won a bareboat charter contract from Micoperi SLR for the new multipurpose subsea construction vessel Cecon Pride. The cutting-edge Cecon Pride is being built at Chantier Davie Canada Inc. (Davie) and is the first of thre
