Tsakos Energy Navigation Ltd (TEN) has reported the delivery of the ice-class Aframax tanker Bergen TS, the last in the 15-vessel, pre-employed on long-term business, growth program, which increased the size of TEN's fleet by 30 percent over the last 18 months…
Iran’s Arvandan Shipbuilding Company and Netherlands’ Damen Shipyards signed a memorandum of understanding (MoU) for cooperation in shipbuilding industry, reports Trend News Agency. The deal envisages cooperation in manufacturing advanced offshore vessels in Iran…
Shanghai Zhenhua Heavy Industries Company has built the largest heavy lifting vessel in the world which can carry up to 12,000 tons. The vessel, which took eight years to design and build, was awarded a special prize at the 19th China International Industry Fair in Shanghai…
One of the world’s biggest shipping companies, China COSCO Shipping Group, has placed an order for 10 large ore carriers from China State Shipbuilding Corporation. COSCO specified the order to include the cylinder lubrication system ‘HJ Lubtronic SIP’ from Hans Jensen Lubricators A/S…
Rotterdam-baed towage and marine services company Smit Lamnalco ordered four Damen ASD 3212 tugs.Two of the new Damen ASD 3212 tugs will head for the mining town of Weipa in Queensland, Australia in the third quarter of 2018, where they will be deployed on a Rio Tinto project…
South Korean yard giant Daewoo Shipbuilding and Marine Engineering (DSME) ended the third quarter of this year with a profit of KRW 45.7 billion (USD 41 million), compared to a net loss of KRW 284 billion posted a year earlier, Yonhap said…
At the Europort 2017 exhibition in Rotterdam, Damen Shipyards Group and Belgian ferry operator Aqualiner signed a contract for the delivery of three more Damen Waterbus 2407 vessels, for operations on the Scheldt in Antwerp. At the signing were Gerbrand Schutten (CEO Aqualiner)…
South Korean shipbuilder Samsung Heavy Industries (SHI) said that net profit for the third quarter of 2017 was down 81.8% year on year to KRW23.4 billion (USD20.44 million), mainly due to deliveries of low-priced vessels and a decrease in orders…
The move to LNG as fuel in the maritime sector picks up steam, as CMA CGM announced plans to outfit nine of its new 22,000 TEU containerships with LNG fueled engines. A trend that started in the United States is spreading to the world, as…
There are “solid signs” of restrained fleet expansion, matching world seaborne trade growth more closely, although not in all sectors. This was the message delivered by Richard Scott MA MCIT FICS, managing director of Bulk Shipping Analysis…
China has has unveiled a massive island-building vessel, which has been called “a magic island-maker” by its designer and is considered the most powerful vessel of its type in Asia, the state media reported. Named Tian Kun Hao, the ship…
Samsung Heavy Industries (SHI) successfully completed Geoje-shipyard portion of the world's largest sized Egina FPSO. The gigantic floater left for Nigeria on 31th October 2017. SHI has now fulfilled successful delivery or sail-away of three massive offshore projects as scheduled…
Mitsui O.S.K. Lines (MOL) announced that one of world's largest containerships, the MOL Truth, was delivered at the Saijo Shipyard of Imabari Shipbuilding Co., Ltd. (President: Yukito Higaki, Headquarters: Imabari-shi, Ehime Prefecture) on October 31…
To promote Government of India’s ambitious ‘Make in India’ programme and to encourage domestic shipbuilding by providing a level playing field vis-a-vis foreign shipyards, the Government had approved the Shipbuilding Financial Assistance Policy for Indian Shipyards in December 2015…
The challenging freight market during the third quarter came despite some encouraging signs with active scrapping of vessels returning (nine VLCCs scrapped plus one removed from fleet for FPSO project; six Suezmax scrapped during the third quarter)…