As the demand for mega vessels has increased, Hyundai Heavy Industries Co. expects mega- sized container ships to lead global orders until early next year as shipping companies seek ways to cut costs, reports Bloomberg. Hyundai Heavy is the world’s biggest shipbuilder…
Most the major Greek-controlled and listed carriers are registered in Greece, and they all have their liquidity placed in banks abroad. Morgan Stanley analyst Fotis Giannakoulis noted that 'nearly 20 percent of the global fleet is controlled by Greek owners and is managed out of Athens…
Dalian Shipbuilding Industry Corporation (DSIC) has announced an order win for two 319,000 dwt VLCCs and five 72,000 dwt product tankers from Cosco Dalian, the tanker shipping arm of China Cosco Group. The financial details of contract were not disclosed…
Several media outlets now report confirmations that Cosco is also targeting ultra-large vessels by ordering nine ships of 20,000 teu, with options for four additional vessels. It was confirmed that China’s Cosco has sealed deals for nine plus four options on 20…
A group of 27 Danish institutional investors say they will launch a legal action against the former management of OW Bunker, a shipping company that filed for bankruptcy last year just six months after listing, and the private equity firm that brought the company to market…
Greece's international lenders are asking the debt-laden country to hike vessel tax, according to a report in the Financial Times. The shipping sector is a vital generator of income for Greece. According to an official document indicating steps Greece must take…
Finnish natural gas importer Gasum and Dutch gas tanker ship-owner Anthony Veder have signed an agreement for a long term time charter of a new ICE Class 1A Super LNG carrier. The companies have agreed on a long term timecharter for a state of the art 18…
Mumbai-based shipping firm Varun Shipping Co. Ltd will be split into two listed entities after the Bombay high court approved a demerger scheme. The Company announced that according to the Composite Scheme of Arrangement and Amalgamation…
Transocean Ltd, the world’s largest offshore driller, has delayed delivery of two new ultra-deepwater drillships, the company announced. The company amended its drillship construction contracts ($540 million each) with Jurong Shipyard, a subsidiary of Sembcorp Marine…
In trying to make sense of the global, mobile maritime industry, there is no better ‘go to’ than Shashi N. Kumar, Ph.D., Master Mariner, Fulbright Senior Specialist Fellow, Emeritus Professor of International Business & Logistics, Academic Dean…
One of the world's premiere ship repair facilities, ASRY based in Bahrain, unveils its move into new vessel construction.ASRY signed an agreement with the Bahrain Coast Guard to design and construct a new Landing Craft for the transport of vehicles…
88 medium-size and large shipbuilding enterprises in China realized an aggregate gross industrial output value of RMB 163.0 billion ($26.3 billion) during the January-May period this year, up 5.5 percent year on year, says China Association of the National Shipbuilding Industry (CANSI)…
Star Bulk Carriers Corp. a global shipping company providing transportation solutions in the dry bulk sector, today announced the sale of M/V Star Mega, a 170,631 dwt Capesize vessel, built in 1994, to an unaffiliated third party. The Company delivered the Vessel to the Buyers on June 18…
Indian shipping company Great Eastern Shipping has announced that its wholly owned subsidiary, Greatship, has sold and delivered anchor handling tug supply (AHTS) vessel Greatship Akhila (7,080 bhp, built 2009) to unnamed buyers. 'Greatship (India) Ltd (GIL)…
Euronav has entered into an agreement for the acquisition through resale of four VLCCs which are completing construction at Hyundai Heavy Industries for an aggregate purchase price of $384 million or $96 million per unit. The vessels are due to be delivered as early as September 2015…
