South Korean shipbuilder STX Offshore & Shipbuilding (STX O&S) has won an order for up to eight LR1 tankers with a total value of $ 375 million. The contract provides for the construction of four oil tankers of 74,000 tons plus the ability to build four additional ships…
Maersk Line announced that it has entered into Vessel Sharing Agreement (VSA) with Mediterranean Shipping Company (MSC) and Mitsui O.S.K Lines (MOL) on the Asia to East Coast of South America trade. Two loops are covered under the agreement and will be served by 22 vessels in total…
As the construction of ultra large container ships gained momentum, Korean shipyards are sweeping up the market, according to a report appeared in Business Korea. Total orders of 21 container ships exceeding 20,000 TEU in capacity were placed globally from the end of last year to date…
Crude oil tanker market sentiment weakened in April as average spot freight rates dropped on most reported routes, OPEC said in its latest monthly report. On average, dirty tanker freight rates were down 8% from the month before. Despite a stronger market seen in the VLCC sector…
A federal grand jury in Mobile, Alabama, has returned a seven-count indictment charging Det Stavangerske Dampskibsselskab AS (DSD Shipping) and four employees with violating the Act to Prevent Pollution from Ships (APPS), conspiracy, obstruction of justice and witness tampering…
Mitsui & Co. has signed a 25-year time charter deal with Trinity LNG Transport for the eight liquefied natural gas (LNG) carrier that will ship the liquefied natural gas from Cameron LNG project in the United States. “Mitsui has newly contracted yesterday the eighth ship…
The Athens, Greece-based DryShips Inc. (DRYS) has reported a loss of $59.2 million in its first quarter. DryShips is an owner of dry bulk carriers and tankers that operate worldwide. The company said it had a loss of 9 cents on a per-share basis…
Havila Shipping ASA has seen Maersk Oil & Gas (MOG) extend an option for a vessel, allowing the company to avoid the weak North Sea spot market for 12 more months. Maersk Oil and Gas Company declared the first of three one year options for the Platform Supply Vessel (PSV) Havila Fortune…
FSL Trust Management Pte. Ltd. (FSLTM), as trusteemanager of First Ship Lease Trust (FSL Trust), has announced the appointment of Michael G Gray as Independent Director of FSL Trust, effective immediately. Gray is also appointed as the new…
ClassNK has released the amendments to its Rules and Guidance for the Survey and Construction of Steel Ships on 8 May 2015.ClassNK continuously reviews, updates, and amends its technical rules and guidance as part of its ongoing efforts to improve the safety of life and property at sea…
Suezmax tanker owners are among the “happiest” ones when it comes to the performance of their vessels during 2014, as well as throughout this year as well says the latest weekly report from the London-based shipbroker Gibson. For most of last year the Suezmax market outperformed VLCCs…
Surprisingly, it seems that the use of VLCCs for floating storage has increased in recent weeks, says a report by Poten & Partners Information about the ships reveals that about every third vessel on charter contract earlier this year is now being used for floating storage…
General Maritime Corporation and Navig8 Crude Tankers Inc. complete merger to create large owner of modern eco VLCCsGeneral Maritime Corporation and Navig8 Crude Tankers Inc. have completed a merger to create Gener8 Maritime, Inc., a U.S…
General Dynamics NASSCO has held a keel-laying ceremony for the first ECO tanker currently under construction for SEA-Vista, at the company’s shipyard in San Diego. The ECO tanker is the first of a three-tanker contract between General Dynamics NASSCO and SEA-Vista…
Monaco-based liquefied natural gas carrier owner GasLog has reported a sharp increase in profits in 1Q15, saying the sector's medium- to long-term outlook remains encouraging. Group net profits jumped to $13.8 million in 1Q15 from $6.4 million in the same period last year…
