Ocean Yield buys eight chemical tankers （2015-04-02）
Norwegian-listed Ocean Yield says it has agreed to acquire eight chemical carriers for a total of USD307.8 million. At the same time, the investment company has signed 15-year ‘hell and high’ bareboat charters [meaning hire is payable unconditionally] to Navig8 Chemical Tankers. “The first four vess... |
Cosco Zhoushan wins up to seven Maersk boxships （2015-03-30）
Chinese shipbuilder Cosco Zhoushan Shipyard has won an order for up to seven ice-class containerships from Denmark’s Maersk Line, which will be a first for the shipbuilder in the construction of containerships. The order is for five 3,600 teu feederships with an overall length of 200 m and the order... |
KSS Line seals another deal with Trammo Gas （2015-03-30）
South Korean LPG and chemical shipping specialist, KSS Line, said on 26 March that it has sealed another timecharter contract with a subsidiary of Houston-based ammonia trader, Trammo Gas. KSS Line, led by CEO Lee Dae-sung, said Trammo Gas' subsidiary, Trammo Navigation, has agreed to charter a 38,0... |
Yang Ming Marine back to profit in 2014 （2015-03-30）
Taiwanese carrier Yang Ming Marine reported a profit of TWD411 million (USD13 million) for the whole year of 2014, returning to black from the TWD2.9 billion loss in 2013, the stated company on 25 March. The carrier recorded TWD134.7 billion in revenue in 2014, up 13% year on year (y/y), and its ear... |
Japanese yards to win Orix order （2015-03-27）
Japanese yards Oshima Shipbuilding, Tsuneishi Shipbuilding, Onomichi Dockyard, and Imabari Shipbuilding have won orders for a total of 21 handysize bulkers from compatriot shipowner Orix Corp. The 38,000dwt newbuildings are to be delivered in 2018 and 2019, with eight for Oshima, six for Tsuneishi, ... |
HMD wins repeat PCTC deal （2015-03-27）
Korea’s Hyundai Mipo Dockyard (HMD) has won a new order for two pure car and truck carriers (PCTCs) from Israel-based Ray Car Carriers. The order for the two 7,700 ceu capacity PCTCs is valued at KRW172.6 billion (USD156.1 million) with delivery scheduled during the first half of 2017. They will be ... |
SHI secures Delta Suezmax pair （2015-03-27）
South Korean shipbuilder Samsung Heavy Industries (SHI) has secured an order for two Suezmax tankers from Greek shipowner Delta Tankers. The two newbuildings are scheduled for delivery in October and December 2016. These early delivery slots have led Delta to move away from its favoured yard of Hyun... |
Franbo Lines secures USD32 mil. to order three new （2015-03-27）
Taiwan-listed bulk carrier Franbo Lines announced on 26 March that the company has borrowed USD32 million from five financial institutions to order three eco-ships. As the first listed bulk carrier in Kaohsiung, Franbo Lines currently operates a fleet of nine vessels, and it expects to take the deli... |
China COSCO's profit up 54% y/y on subsidies （2015-03-27）
China COSCO Holdings' profit jumped 54% year on year (y/y) to CNY362.5 million (USD58.5 million) on government subsidies for scrapping old tonnage. Excluding one-off gains, its loss narrowed 81% y/y to CNY1.4 billion due to slump in fuel costs and contraction of its chartered-in fleet, according to ... |
Carnival tightens yard ties （2015-03-27）
Carnival Corp has announced plans for nine additional newbuilds and sealed strategic partnerships with Italy’s Fincantieri and Germany’s Meyer Werft. Memorandums of agreement were signed for five newbuilds at Fincantieri to be built at the Monfalcone and Marghera yards for deliveries in 2019-2022. F... |
Yangzhou Guoyu wins Ultramax bulker pair （2015-03-26）
Chinese shipyard Yangzhou Guoyu Shipbuilding has won an order for two Ultramax bulkers from Liberian-registered Solstice Shipping. The two 63,000 dwt newbuildings will have an overall length of 199.99 m, beam of 32.26 m and depth of 18.5 m with delivery scheduled for September and November 2016. The... |
Bigger fleet, tanker market recovery returned （2015-03-26）
A bigger fleet and the recovery in crude oil tanker freight rates have helped Sovcomflot, the Russian crude oil, oil products and gas carrier group, to return to profit last year. Group net profit amounted to USD83.9 million compared to a loss of USD39.2 million in 2013. Revenues rose to USD1.38 bil... |
LNG shipping remains sensitive to production cuts （2015-03-26）
The LNG shipping sector remains sensitive to production cuts due to political unrest, shipping analysts at DNB Markets in Oslo have noted. This was highlighted by events in Yemen, where Yemen LNG that has export capacity of 6.7 million tons per annum (tpa), equal to 2.8% of 2014 global exports has b... |
DSME sees 2015 as difficult year （2015-03-26）
Daewoo Shipbuilding & Marine Engineering (DSME), South Korea’s third biggest shipbuilder, thinks this year will be difficult in terms of winning new orders. This was revealed during a question-and-answer session with Samsung Securities. Samsung Securities analyst Han Young-soo noted that demand for ... |
CIMC offshore unit posts maiden profit （2015-03-26）
CIMC Raffles Offshore, the offshore engineering unit of China International Marine Containers Group (CIMC), posted its first ever annual profit in 2014 since its establishment. The unit's profit totalled CNY5 million (USD806,400) in 2014, with revenues up 70% year on year to CNY11.9 billion, a stock... |
Jiangsu Jinling wins Kamsarmax order （2015-03-24）
Chinese shipbuilder Jiangsu Jinling Ships has won an order for a Kamsarmax bulker from returning compatriot shipowner Qingdao Da Tong International Shipping. Delivery of the 82,000 dwt SDARI KMAX 82-designed vessel is scheduled in January 2018. The shipowner is a regular customer at the yard and thi... |
Wilson orders three 2,600dwt bulkers at Wuxue Jand （2015-03-24）
Wilson, the listed Norwegian shortsea shipping group, has ordered three 2,600dwt bulk carriers from the Wuxue Janda Shipbuilding yard in Hubei, China. The three ships are scheduled to be delivered in 2016 and each cost about EUR3.3 million (USD3.5 million). The company has obtained refund guarantees... |
GSI back to black for 2014 （2015-03-24）
Shanghai- and Hong Kong-listed Guangzhou Shipyard International (GSI) on 18 March posted a net profit of CNY151.5 million (USD24.5 million) for full-year 2014, back to the black from the loss of CNY218.6 million in the previous year. The company recorded revenue of CNY9.5 billion last year, up 63.25... |
Japanese banks to finance 'K' Line LNG carrier （2015-03-24）
The Japan Bank for International Cooperation (JBIC), Mizuho Bank and Mitsubishi UFJ Trust, and Banking Corporation will provide USD125 million to finance an LNG carrier that Kawasaki Kisen Kaisha (‘K’ Line) is building. ‘K’ Line, Japan’s third biggest shipping company, ordered the LNG carrier at Mit... |
Bulk carrier U-Ming orders two cement carriers （2015-03-24）
Taipei-listed bulk carrier U-Ming Marine announced on 18 March that the company has placed an order for two cement carriers. These two newbuildings will replace the old vessels of U-Ming’s fleet, according to its filing to the exchange. The company stressed that the new cement carriers will be clean... |