Two VLCCs join Nanjing Tanker fleet

CSC Nanjing Tanker Corporation (NTC) took delivery of a pair of 300,000 dwt tankers “Changjiang Zhi Rong” and “Changjiang Zhi Jin” from Bohai Shipbuilding Heavy Industry and Dalian Shipbuilding Industry last week.
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Source: Seatrade Asia

Posted on 11/25/2010 / 0 comments / Read More

Skarv set to sail

BP Norway's FPSO for the Skarv development is set to sail from a shipyard in South Korea marking a another major milestone on the NKr 35.8 Bn (US $5.88 Bn) project.
At the end of this month the project is now nearing 90% completion for the first phase, Nils Lillelokken, Skarv business manager for BP Norge told delegates at a major industry conference in Stavanger.
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Source: Offshore 247

Posted on 11/25/2010 / 0 comments / Read More

Shipping industry warns of return to strained capacity

Although supply and demand in the container shipping industry appears in balance for next year, a growing field of analysts and industry insiders is warning that new capacity shortages are looming beyond 2011.
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Source: Baird Maritime

Posted on 11/25/2010 / 0 comments / Read More

IMO takes action pre-COP16

The International Maritime Organization (IMO) has circulated proposed draft regulations to make mandatory technical and operational measures - previously proposed on a volutary basis - to reduce emissions of greenhouse gases (GHGs) from ships on international trade.
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Source: Motorship

Posted on 11/25/2010 / 0 comments / Read More

Six flag states spotless

Six out of 107 flag states came have no negative performance indicators in this year’s Flag State Performance Table. The table is issued yearly by the Round Table of international shipping associations Bimco, ICS, Intercargo, Intertanko and ISF.
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Source: Shipgaz

Posted on 11/25/2010 / 0 comments / Read More

Wisby Tankers investing heavily – orders two asphalt tankers

Finally, it has been confirmed, the rumour that has been circling in the market for a while: Wisby Tankers is investing heavily and has ordered two 15,000 DWT asphalt tankers at 3 Maj Shipyard in Rijeka, Croatia.
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Source: Shipgaz

Posted on 11/25/2010 / 0 comments / Read More

Asia Steel-China steel prices up but demand uncertain

Spot steel prices in the domestic market recovered this week on falling inventories after rate rise concerns led to a decline last week.
Rebar inched up to 4,540-4,550 yuan per tonne in Shanghai on Thursday, up 2 percent from a week earlier, industry consultancy Mysteel said.
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Source: Reuters

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ABB wins power, propulsion systems order from Samsung Heavy Industries

ABB has won an order worth $58m to provide complete power and propulsion systems for six new liquefied natural gas (LNG ) transport vessels to be built by Samsung Heavy Industries in South Korea.
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Source: Energy Business Review

Posted on 11/25/2010 / 0 comments / Read More

GL issues Type Certificate for Samsung Heavy Industries‎

Samsung Heavy Industries (SHI) received a Type Certificate from GL Renewables Cerification (GL) for their wind turbine SHI 2.5 MW, load class IEC 2A. SHI is the first Korean turbine manufacturer to receive a full GL Type Certification for its wind turbine.
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Source: Wind Tech

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MOL, Vale Sign Long-term Transport Contract for 2 VLOCs

TOKYO—Mitsui O.S.K. Lines Ltd. (MOL; President: Koichi Muto) today announced the signing of a long-term transport contract with Vale International SA, a subsidiary of Vale S.A. for two very large ore carriers (VLOCs) on November 18. Two 300,000 DWT-class newbuilding vessels, which will be constructed at Universal Shipbuilding Corporation and slated for completion in 2012 and 2013, will serve the Vale-China shuttle service, transporting iron ore for 25 years.

Long-term contracts with stable and large iron ore mining companies will help secure cashflow stability for MOL and allow the company to develop more stable portfolio strategies as it moves ahead. Vale is the second largest metals and mining company being amongst the 30 largest publicly traded companies in the world. Vale is also the largest iron ore producer in the world with an expected production of 311 million tons in 2011 and the largest private sector company in Latin America.
MOL, as one of the world's largest Cape-size bulker operators, already operates five 300,000-class VLOCs and will continue to take a proactive stance in VLOC operation to meet growing demand of iron ore transport and optimize the use of large vessels backed by an advanced safety management structure and fleet scale to continually offer safe, reliable ocean transport services.

Source: Press Release

Posted on 11/25/2010 / 0 comments / Read More

Baltic index falls, capesize cargo activity slow

The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, retreated on Thursday with slower cargo activity weighing on sentiment for the larger capesize vessels.
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Source: Reuters

Posted on 11/25/2010 / 0 comments / Read More

Supertanker Market Has Less Chance of Demand Push, Imarex Sa

Imarex Asia Pte, a unit of freight derivatives broker Imarex ASA, comments in an e-mailed report today on supply and demand for supertankers to load 2 million- barrel cargoes of Middle East oil.
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Source: Bloomberg

Posted on 11/25/2010 / 0 comments / Read More

Ship demolition activity increases by 10.6% during October, but numbers still low to offset looming oversupply

A total of 83 vessels were scrapped during October with an agreggate capacity of 2,17,061 tons, which represented a monthly increase of 10.6% versus September said Golden Destiny in a report. Among the positive signs was a moderate rebound of dry bulk scrapping, with 15 vessels of a total deadweight tonnage of 815,172 tons leaving the market and being sold for scrap last month. It’s an oustanding increase of 200% compared to September. Still, as the shipbroker’s report notes, “the volume of bulk carrier’s demolition transactions during the year to date is down by 53% in comparison with a similar period of 2009”.
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Source: Hellenic Shipping News

Posted on 11/25/2010 / 0 comments / Read More

Hyundai selected for USD 800 million Barzan offshore deal

South Korea’s Hyundai Heavy Industries has been selected by Qatar Petroleum and its JV partner US oil major ExxonMobil for the offshore contract of the Barzan gas development.
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Source: Steel Guru

Posted on 11/25/2010 / 0 comments / Read More

2011 shipbuilding outlook 'gloomy'

According to the report on 'Primary Industry Forecast and Current Status for 2011' released by Hyundai Research Institute, Korea's business economy is expected to move from boom-phase in 2010 to slow-phase next year under the influences of slowdown of global growth and a drop in trade growth rate.
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Source: Asiasis

Posted on 11/25/2010 / 0 comments / Read More

First Chinese Aircraft Carrier almost Complete

Work is picking up on what appears to be China‘s first aircraft carrier, the Shi Lang. For eight years now, China has been tinkering with a half finished Russian aircraft carrier. Two years ago, this ex-Russian aircraft carrier, Varyag, was renamed the Shi Lang (after the Chinese general who took possession of Taiwan in 1681, the first time China ever paid any attention to the island) and given the pennant number 83.
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Source: Daily Mail Post

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First LNG fast ro-pax ferry ordered

The Australian shipyard and builders of high speed catamaran vessels Incat, has announce they are to build the world’s first high speed passenger Ro-Ro ferry to be powered by gas turbines running on LNG. Details of the owner and the route(s) to be operated have not yet been released.
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Source: MARITIME PROPULSION

Posted on 11/25/2010 / 0 comments / Read More

Goodearth’s shipyard plan back on track

CHENNAI: The Chennai-based Goodearth Shipbuilding Pvt Ltd, a wing of the Archean Group of Companies, is to commence its work on the shipyard at Cuddalore. The project, which got slowed due to the global economic collapse, is back on track, said Group COO S.M.Sundaram.
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Source: finance buzz

Posted on 11/25/2010 / 0 comments / Read More

Latest newbuild launched by Yuexin shipyard

October saw Yeuexin shipyard in China launch its latest newbuild, a 66.6m AHTS, YX3123. The yard did not announce the name of the customer for the vessel.
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Source: Offshore Shipping Online

Posted on 11/25/2010 / 0 comments / Read More

CMA CGM to receive $500m boost

CMA CGM, operator of the world’s third-largest container ship fleet, has brought to an end more than a year of efforts to find fresh capital after a Turkish group agreed to make a $500m cash injection.
The deal, announced on Thursday evening, will see the family-owned Yildirim Group invest in return for convertible notes that will eventually give it 20 per cent of the capital in the Marseilles-based company.
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Source: Financial Times

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Bangladesh: Western Marine delivers ice-class vessels today

Western Marine Shipyard will deliver two largest vessels ever built in the country to a German buyer today.
The two 100-metre-long ice-class vessels of the company, Grona Ammersum and Grona Biessum, having a capacity of 5,200 DWT (deadweight tonnage), will be delivered to Grona Shipping GmbH at a ceremony at Chittagong Dry Dock Ltd.
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Source: The Daily Star

Posted on 11/25/2010 / 0 comments / Read More

Tasmania to build first LNG powered fast ferry

In a world first, Australian shipbuilding company Incat has secured a contract to build a high speed passenger ferry powered by liquefied natural gas (LNG). The 99 metre roll-on, roll-off ship will be delivered in 2012 to an unnamed overseas buyer.
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Source: dynamic Export

Posted on 11/25/2010 / 0 comments / Read More

Croatian shipyard launches the most expensive ship in the history of country´s shipbuilding industry

The most expensive ship in the history of the Croatian ship building industry has been launched into the sea from the Brodosplit shipyard in the southern port of Split on Wednesday.
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Source: Croatian Times

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