While Cosco’s orderbook of US$8 billion seems hefty, the shipbuilding contracts are of low value, says a report in SBR. The orderbook may do the company more harm than good. As at 31 December 2015, Cosco’s order book stood at USD 8 billion with progressive deliveries up to early 2018…
London-based architect Jonathan Schwinge designed the pyramid-shaped yacht called the Tetrahedron Super Yacht. Billed as aviation on the sea, the radical concept from a London-based architect flips traditional yacht design on its head with a complete rethink…
As 2,500 ships currently under management by Cyprus-based companies could be registered in the Cypriot registry, a settlement of the Cyprus problem could boost the island`s commercial fleet to new levels, reports CNA. The Cypriot registry…
2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, says a report BIMCO. The six new VLCCs were delivered in a strong winter market…
The fifth of the six Kilo-class submarines that Vietnam purchased from Russia has arrived at Cam Ranh Bay, Thanh Nien news reported. The submarine, which was delivered by a Dutch-registered cargo ship, laid anchor near the Cam Ranh Port…
Ignoring industry leaders and human rights and environmental organizations, ship owners continue to profit from dangerous and dirty shipbreaking practices on South Asian beaches in 2015, according to new data released today by the NGO Shipbreaking Platform…
2016 could be a brutal year for Korean Shipyards. Yonhap reports that the country's shipbuilders failed to clinch any new orders in January, underscoring the protracted slump in the global shipbuilding segment. 'January is usually an off-season for shipbuilders…
AIDA Prima, a new ship for Carnival Corp.'s AIDA Cruises brand, was damaged by a fire early Sunday at Mitsubishi Heavy Industries Ltd.’s shipyard in Nagasaki, the Japan Times reports. The fire reportedly was quickly extinguished by workers…
MSC Cruises, the 4th largest cruise line, confirmed the existing STX France options to build an additional two ships in the Meraviglia class. The ships, valued by MSC at $1.7 billion, will be longer and bigger versions of the Meraviglia-class ship…
In the first half of this year, JSC “Latvijas kugnieciba” subsidiary “LSC Shipmanagement” Ltd (LSCSM) will add three newly built oil and chemical tankers under technical management. The first of the three ships was delivered on January 11 – the 183 meters long tanker “Elandra Spruce”…
Singapore’s dry bulk shipping company Mercator Lines Limited has has entered into Memoranda of Agreements to sell five bulk carriers, the company’s judicial manager said. The judicial manager appointed to oversee the bankruptcy of Mercator…
Crisis-hit yacht manufacturer Fairline Boats has been saved after the firm was bought by two Russian investors. A new company, Fairline Acquisitions, funded by two UK-based Russian investors with a background in the marine sector, is to…
Huangpu Wenchong Shipbuilding has secured newbuild contracts for a 17,000dwt asphalt carrier and a 38,800dwt bulk carrier. The eco-friendly bulk carrier is scheduled to be delivered from the shipyard by end-2017. Financial details of the deal were not disclosed…
Daewoo Shipbuilding and Marine Engineering (DSME) launched on Friday the world’s first icebreaking liquefied natural gas (LNG) carrier at its Okpo shipyard in Geoje, South Gyeongsang. It was the first ship to be launched for Russia’s Yamal…
As a part of an ongoing portfolio restructuring exercise following booking of losses for three years in a row, Mercator Limited has decided to exit dry bulk business carried on by its arm Mercator Lines(Singapore) Ltd(MLS). Mercator has 11 bulkers in its fleet…