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Jinse Shipbuilding to Build First Ships Using AVEVA

Jinse Shipbuilding Co., a recent addition to the Korean shipbuilding industry based in Busan, will use AVEVA Marine to build its first ships. Jinse received orders for 32,000-dwt and 180,000-dwt bulk carriers, with the former due to be delivered by early 2008. “The onus is on us to build high quality ships in the most efficient manner,” said Kim Tae Hyoung, Director of Jinse Shipbuilding Co. “We believe that AVEVA Marine will lead to higher production accuracy, savings in calendar time and less rework.”


Tanker Orders And The Flexibility Factor

Chart: Clarkson Research Services Limited

 As the downturn in the number of new vessel orders last year took hold, shipyards’ flexibility to switch sectors to take orders became a key factor in their ability to face up to an extremely challenging period, says Clarksons Research.   Tanker newbuild orders provided one source of business amongst the gloom, so how able did yards prove in demonstrating their adaptability to take advantage of this demand?  


Bergesen Orders Two More VLCCs From HZ

Bergesen d.y. Group ASA exercised an option to buy two more VLCCs from Japan's Hitachi Zosen Corp. The total option price for the 296,000 dwt vessels is about $131.7 million. The two vessels will be delivered in March and May, 2001. Bergesen also announced that it has bought oil/ore carrier Grand Phoenix for $23 million. The 291,000-dwt carrier, built in Japan in 1986, will be delivered by the end of March.


TEN Buys 9 Tankers for $530M

TEN, the New York quoted Greek tanker company controlled by the Tsakos family, confirmed it has bought for nine ice class 1A tankers from Western Petroleum for $530 million. The fleet consists of six 53,000-dwt medium range chemical/products carriers delivered by Hyundai Mipo Dockyard last year and three 116,000-dwt coated aframax products carriers for delivery from Hyundai Heavy Industries in May August and October this year


Shortage in Supramax

Supramax bulk carrier (Pic: United Seven GmbH & Co)

 As tonnage in the East Coast South America (ECSA) region continued to outnumber fresh grain requirements, Supramax front-haul freight rates fell this week, reports Platts, quoting shipping sources.   The rate for carrying a 50,000 mt grain stem from ECSA to the Far East continued at that level until it fell to $9,500/d plus $95,000 ballast bonus Tuesday. It was $10,000/d plus $100,000 ballast bonus February 27.  


Sovcomflot Buys Nine PRISCO Tankers

Russia’s PAO Sovcomflot (SCF Group) subsidiary SCF Tankers Ltd. has won an auction for nine arctic-going tankers that belonged Primorsk International Shipping Ltd. (PRISCO), who filed for chapter 11 protection in January 2016. The purchase deal is worth $215 million, and the auction results have been approved by the U.S. Bankruptcy Court for the Southern District of New York, which is handling PRISCO’s bankruptcy case. SCF Tankers outbid Denmark’s Hafnia Tankers Ltd


Unitor Secures Significant Orders

Unitor, Norway's international ship supply specialist, has garnered its largest ever single order for ships equipment with a $6.8 million contract from Poland's Stocznia Szczecinska SA (Szczecin Shipyard) for nitrogen generator systems for eight 40,000-dwt chemical tankers under construction at the yard. The order encompasses the delivery of Unitor's 35-ton, hollow-fibre, air separation nitrogen generator system, to each tanker comprising four 360 kW compressors and nitrogen generators


New Ax-Bow to Increase Ships' Efficiency

Considerable effort, particularly following the oil embargo of the 1970s, has been placed on reducing the fuel oil consumption of ships, a task readily handled by a series of improvements in hull shapes, the fitting of energy savings devices, and improvements to the performance of main engines. A group of engineers from the Tsu Research Laboratories — Koichiro Matsumoto, Kazuyoshi Hirota and Kenji Takagishi - however, noted that while performance in still water was gaining, other factors


Wijsmuller Granted Major SPM Job

Through its subsidiary, Cory Towage Limited, The Wijsmuller Group has been awarded a contract for marine services at the Ash Shihr oil export terminal in Yemen for Canadian Occidental Petroleum Yemen, which is familiarly known as CanOxy Yemen. The Ash Shihr terminal deals with crude originating inland, which is piped to the terminal storage tanks from where it is then pumped to loading tankers at the single point mooring buoy (SPM) - three miles offshore


FirstWave/Newpark Awarded Trio of Contracts

Providing ship repair, conversion, new construction and related services for barges and other vessels, FirstWave/Newpark Shipbuilding has garnered three new contracts. Pleiades Shipping Agents awarded the company for collision damage repair of 55,000-dwt vessel, MT Nestos. The ship, which sustained damage on its port side near the bow and just above the waterline, underwent repairs at the company's East Pelican Island facility.


Picking Up Panamaxes Like Pokemon

Image: Alibra Shipping Ltd. Research

 Alibra Shipping Research Weekly Market Report takes a look on current market scene of bulk carriers.   For a little while now, the story has been “Now’s a great time to buy bulk carriers, asset prices are low…” We’re cautious of following the herd


Navig8 Chemical Tankers Sees Income Rise

Photo: Navig8 Group

 Navig8 Chemical Tankers Inc reported its net income at $9.6 million, against a net income of $2.9 million seen in the three months ended June 30, 2015.    Continued growth of the company’s operating fleet with the delivery of Navig8 Turquoise, a 49


Eagle Bulk Shipping Raises $88mln in Private Placement

Photo: Eagle Bulk Shipping Inc

 Marshall Islands corporation headquartered in Stamford, Connecticut Eagle Bulk Shipping Inc has announced that it has closed its previously announced private placement of its common stock for aggregate gross proceeds of $88.0 million.    


Gadkari Flags off Two Vessels from Varanasi, India

Nitin Gadkari. Photo: The official FB Page of the Minister

A trial run of two cargo vessels from the Aghoreshwar Bhagwan Ram Ghat Varanasi.   The vessels viz. MV Joy Basudev (capacity 1400 tons) and MV V.V Giri (capacity 300 tons), contain newly assembled cars of Maruti Suzuki and construction material.  


Asia Tankers-VLCC Rates Face Pressure

Number of MidEast charter fixtures less than usual; Basra crude exports set to fall in May. Freight rates for very large crude carriers (VLCCs) will come under further pressure next week if the current sluggish chartering activity continues, ship brokers said on Friday.


Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

file image: A VLCC transits the Suez Canal (Suez Canal Authority)

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo, could slip further next week as more tonnage becomes available with the easing of recent tanker


Chemical Shipping Freight Rates to Remain Firm

Graph: Drewry Shipping Consultants Limited

 Chemical tanker shipping freight rates are expected to remain firm over the medium term, thanks to rising production capacity in key exporting countries, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry.  


DSME to Manage Iranian Shipbuilder

Pic: Iran Shipbuilding & Offshore Industries Complex co .

 Daewoo Shipbuilding & Marine Engineering Co. (DSME) has signed a business agreement with the Iranian government on operation and technology instruction for Iranian state-run shipbuilder Iran Shipbuilding & Offshore Industries Complex Co. (ISOICO), reports the Pulse.  


Asia Tankers-VLCC Rates to Dip Before Fuel Oil Fixtures

File Image: a so-called Suezmax tanker transits the Suez Canal (Suez Canal Authority)

Worst over for Aframax market as fuel oil cargoes lift rates. Freight rates for very large crude carriers (VLCCs) could slide further before finding a floor and recovering on a rebound in chartering activity, ship brokers said on Friday.


Asia Tankers-VLCC Rates Strengthen on June Charters

30-40 Mid-East VLCC cargoes still to be contracted for June; Posidonia shipping event next week in Greece may dampen activity. Freight rates for very large crude carriers (VLCCs) could rise next week as charterers complete their June loading programme


Demolition: A Spring Clean For The Fleet?

Graph: Clarksons Research

 As summer approaches in the northern hemisphere, scrapping activity has been continuing at a firm pace, and appears set to come close to record levels in full year 2016, accroding to a report by Clarksons Research.   With earnings suffering in the bulkcarrier and containership sectors


Asia Tankers-VLCC Rates to Climb Slowly

File image: a so-called SuezMax oil tanker (Suez Canal Authority)

Around 47 MidEast charters fixed for July loading so far; older tonnage and new vessels a drag on freight rates. Freight rates for very large crude carriers (VLCCs) are set to nudge higher next week after moving above nine-month lows on increased charters this week, ship brokers said on Friday


Asia Tankers-VLCC Rates Expected to Soften

File image (Suez Canal Authority)

MidEast rates slip from two-week high on June 28; raft of new ships and repaired vessels weigh on rates. Freight rates for very large crude carriers (VLCCs) will continue to soften next week as ample tonnage supply weighs on the market, although a raft of Middle East fixtures are expected to


Shipping’s Half Year Report – “Must Do Better”

Graph: Clarksons Research

 With the spread of challenges facing the industry, it’s unlikely the shipping markets would achieve many top grades, says Clarksons Research.    However some sectors might still achieve an “A” for effort and this week’s analysis reviews the markets’


Asia Tankers: VLCC Rates Steady on Drip-fed Cargoes

Freight rates for very large crude carriers (VLCCs) are set to maintain the current levels next week as charterers drip-feed cargoes for August loading into an overtonnaged market, ship brokers said.   "There is quite a negative outlook... we may be close to the bottom






 
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