Shina yard poised to hear its fate （2015-03-24）
South Korean shipyard Shina Shipbuilding (Shina SB), which is under court receivership, will know its fate within days, as the court decides to either extend the company's receivership period or declare it bankrupt. Shina SB, which was once one of the world's 10 largest shipyards, had been under a d... |
CMES aims to double revenues in 2015 （2015-03-24）
China Merchants Energy Shipping (CMES) aims to double its revenues in 2015 from 2014 to CNY5.4 billion (USD870.9 million) with the deliveries of newbuildings after a rash of scrapping of old tonnage last year. In 2014, CMES' revenues rose 1.4% year on year (y/y) to CNY2.6 billion, a stock filing of ... |
DSME unlikely to show improvement before 2016 （2015-03-24）
Although South Korea’s Daewoo Shipbuilding & Marine Engineering's (DSME's) operating profit stabilised in the fourth quarter of 2014, it is unlikely that meaningful improvement in the figure will be seen before 2016, said an analyst in his research note. NH Investment & Securities analyst John Yu sa... |
Jiangzhou Union secures Auerbach pair （2015-03-24）
Chinese shipyard Jiangzhou Union Shipbuilding has secured an order for two multipurpose vessels from German shipowner Auerbach Schifffahrt. Delivery of the two 12,500 dwt, fuel-efficient vessels is scheduled for September and December 2016. They will have an overall length of 144.7 m, beam of 22.8 m... |
Bulker newbuilding orders plunge （2015-03-24）
Orders for dry bulk carriers plunged 66% year on year (y/y) in February as the Baltic Dry Index (BDI) plunged to a historic low, deterring investments. Statistics compiled by Greek broker Golden Destiny show 37 bulkers of 1,928,933 dwt were ordered this February, compared to 108 ships in the same mo... |
Unlisted shipbuilders face lower order activity （2015-03-24）
South Korea’s unlisted shipbuilders will become less aggressive in order activity, an analyst has predicted in a research note. Samsung Securities analyst Youngsoo Han said, "Most shipbuilding contracts are based on a heavy-tail payment scheme, so shipbuilders are responsible for working capital. Si... |
New era for Damen Yichang shipyard （2015-03-24）
A joint venture between Netherlands-based Damen Shipyards Group and Chinese company Sinotrans CSC, Damen Yichang shipyard on the Yangtze River is rolling out a new and larger portfolio of vessels – and taking them to the global market. The yard has a successful history of delivering cargo vessels up... |
Lenders back Star Bulk newbuildings （2015-03-24）
Star Bulk has suffered greater than expected losses but confirmed strong progress on newbuilding finance despite the rate slump. The company, which is the largest US-listed dry bulk player, posted a net loss of USD8.1 million for 4Q14 versus net income of USD54,000 in 4Q13. Excluding special items, ... |
Wärtsilä introduces two-stroke engine with Tier II （2015-03-20）
Wärtsilä has launched the first two-stroke engine with a high-pressure Selective Catalytic Reduction (SCR) system manufactured in China. The system is fitted to a 5-cylinder Wärtsilä RT-flex58T-D 2-stroke, low speed engine produced at the Hudong Heavy Machinery (HHM) facilities. The SCR reactor was ... |
STX O&S takes more tanker orders from BW Pacific （2015-03-20）
South Korean shipbuilder STX Offshore & Shipbuilding (STX O&S) said on 19 March that it has clinched orders for two more LR1 product tankers from BW Group's unit, BW Pacific, after the latter exercised options for more vessels. These recent orders came after BW Pacific, a joint venture between BW Gr... |
Wärtsilä launches new series of LNG carrier design （2015-03-20）
Wärtsilä has launched a new series of LNG carrier ship designs, a statement of the company said. This series of designs is the latest addition to Wärtsilä's ship design portfolio and an important part of the company's strategic programme themed 'Taking Merchant Shipping into the Gas Age'. The series... |
Yangzhou Dayang secures White Sea Ultramax order （2015-03-20）
China’s Yangzhou Dayang Shipbuilding has secured an order for two Ultramax bulkers from Greek shipowner White Sea Navigation. The two 63,000 dwt Crown 63-designed eco ships will have an overall length of 199.99 m, beam of 32.26 m and depth of 18.5 m with delivery scheduled for November this year and... |
Noryards Fosen wins IMR support vessel （2015-03-19）
Norwegian shipyard Noryards Fosen has entered into a contract with returning compatriot offshore operator Boa Offshore to build a light construction and inspection maintenance and repair (IMR) vessel. The ship has been designed in close co-operation between shipyard and owner to meet challenging con... |
Chinese yards new orders down 78.9% （2015-03-19）
Chinese shipyards’ new orders slumped 78.9% year on year (y/y) to 3.8 million dwt in the first two months of 2015, the China National Association of Shipbuilding Industry (CANSI) said on 18 March. The orderbook of the Chinese shipbuilders grew 1.8% y/y to 147.6 million dwt at the end of February, bu... |
Zhoushan ship exports to rise 15% in 2015 （2015-03-19）
Ship exports of Zhoushan in Zhejiang Province, China, are expected to increase by 15% this year, showed data released by the local government. The city's ship exports valued a total of USD2.538 billion in 2014, up 6.68% from the USD2.379 billion in 2013. According to Fu Zhiye, a local ship trade exp... |
China's first 30,000 m³ LNG carrier launched （2015-03-19）
China’s first 30,000 m³ LNG carrier, designed by Shanghai Ship Research and Design Institute (SDARI), the leading ship design company in China, was launched on 4 March for test voyage. Hai Yang Shi You 301 was developed by SDARI for CNOOC Energy Technology & Services and constructed at China State S... |
Hudong-Zhonghua secures Coscol options （2015-03-18）
Hudong-Zhonghua Shipbuilding has secured an order for two multipurpose heavy lift vessel options from compatriot shipowner COSCO Shipping Co Ltd (Coscol). The two 28,000 dwt newbuildings will have an overall length of 179.5 m, beam of 28 m and depth of 14.8 m with delivery scheduled for April and Au... |
ClassNK still biggest classification society （2015-03-18）
Japanese classification society ClassNK has held onto its crown as the world’s largest classification society by registered tonnage. ClassNK said its registered tonnage now exceeds 366 million deadweight tonnes, accounting for 21% of the world’s classed fleet. IHS Maritime’s Sea-web.com data shows t... |
Japanese yard orders down 70% in February （2015-03-18）
Japanese shipyards' orders plunged almost 70% year on year in February, continuing its descent as investment appetite for newbuildings has been affected by the sluggish dry bulk market. Figures from the Japan Ship Exporters' Association (JSEA) showed its member yards clinched 14 export orders totall... |
RSHI to sell shipbuilding business （2015-03-18）
China Rongsheng Heavy Industries (RSHI) has entered into a memorandum of understanding (MOU) with an unidentified buyer for the sale of its shipbuilding and offshore engineering business. Both parties will further negotiate details of the deal, including the scope and list of related assets and liab... |