Dalian Shipyard News

After a slowdown in activity during 2020/2021 due to soft commodity prices, demand for FPSOs is picking up.With exploration hotspots like Namibia’s Orange Basin and the East Mediterranean delivering new finds, the FPSO market outlook is healthy. But shipyard capacity constraints are beginning to weigh on delivery, leading to cost concerns. Furthermore, FPSO demand is competing for yard space with other construction projects.To mitigate delay risk and cost overruns, some E&Ps have reviewed their FPSO procurement strategies.

Svanehøj said it has landed two major P&C pump orders in China, most recently securing a contract with GSI Shipyard on a total of 96 deepwell pumps for four new MR Tankers.Svanehøj has manufactured pump systems for P&C tankers for decades, but the segment is now becoming a significantly larger part of the business. The Danish specialist in deepwell pumps for marine and offshore has a target of increasing sales of P&C cargo pumps by 40% over the next three years and has just won its largest single P&C order since 2005.The customer is Guangzhou Shipyard International Company Limited (GSI)…

Maersk Tankers announced it has sold six Long-Range 2 (LR2) product tankers in an en-bloc transaction.All six of the vessels were or will be built at Dalian shipyard in China, including one in 2020 and the remaining five in 2021, Maersk Tankers said.Maersk Tankers did not reveal the name of the buyer, though it is rumored to be ADNOC Logistics & Services, the shipping and maritime logistics branch of Abu Dhabi National Oil Company (ADNOC), which is currently in the midst of a fleet expansion program.Claus Gronborg…

Maersk Tankers has taken delivery of Maersk Sandra, the first in a series of 10 newbuild LR2 tankers on order from Dalian Shipyard, in China.The series' first six vessels were ordered in May 2018, and options for the final four vessel were exercised in May 2019.Due for delivery from 2020 through 2022, the vessels will come under Maersk Tankers’ commercial, technical and corporate management.

Belgium-based crude oil tanker company Euronav has entered into a sale and leaseback agreement for three very large crude carriers (VLCC) vessels with Taiping & Sinopec Financial Leasing Ltd Co.The vessels were sold for a net en-bloc purchase price of USD 126 million. Under the agreement, Euronav will subsequently enter into a 54-month bareboat charter contract.The three VLCCs are the Nautica (2008 – 307,284), Nectar (2008 – 307,284) and Noble (2008 – 307,284), which were all built in the Dalian shipyard.The transaction produced a capital gain of about USD 23.0 million and will be booked as an operating lease under IFRS. After repayment of the existing debt, the transaction generated USD 66.6 million free cash. The vessels were delivered to their new owners on 30 December 2019.

German dry bulk shipping company Oldendorff group has revealed a series of 23 deals with Chinese leasing companies over the last year.None of these deals involve lease finance, said the company.The deals involve six capesizes, four kamsarmaxes and 13 ultramaxes and comprise a range of resales and both fixed and floating time charters. Ten of the vessels will have scrubbers fitted."The charters we provided are market related and mostly on a floating index rate basis. The 10 Capes and Kamsarmaxes will all be equipped with scrubbers, eight of them with open loop scrubbers and two of them with hybrid scrubbers," said a release from the company."In the meantime…

Danish ship owner Maersk confirmed it has exercised an option to order four additional product tankers from China's Dalian Shipyard.The order completes a a series of 10 newbuilds planned for delivery from 2020-2022 as part of Maersk's ongoing fleet renewal program in the LR2 segment. The first six vessels were ordered in May 2018.Søren C. Meyer, Chief Asset Officer at Maersk Tankers, said, “We are building the LR2s to ensure we have a portfolio of vessels that best fits our customers’ demands.

London-based international law firm Watson Farley & Williams (WFW) advised Foresight Group of Dubai on the delivery arrangements relating to a LeTourneau Super 116E jackup drilling rig named “VIVEKANAND 3”.The rig was constructed in China by Cosco Shipping Heavy Industry Dalian Shipyard (“Cosco Dalian”) and is one of three jackup rigs constructed, delivered and employed over the last three years; a great achievement given the current challenges faced by the offshore drilling market.VIVEKANAND 3 will be deployed on charter to Abu Dhabi National Oil Company (“ADNOC”) and is the last of the three rigs built for Foresight by Cosco Dalian.

Norway-based TTS Group ASA, a global provider of handling solutions and access systems and services for the marine and offshore industries, has been awarded a contract for sideloading systems for Norway-based expedition cruise operator Hurtigruten.TTS Group has also won a contract for ships equipment to another buyer. Total value of the orders is approximately NOK 38 mln (USD 4.5mln).Hurtigruten, the world’s largest and most sustainable expedition cruise line, is expected to install the advanced TTS sideloading systems on six different ships during 2019-2021.Building on 125 years of Norwegian pioneering heritage, Hurtigruten is today the world's largest expedition cruise company.Few days ago, TTS Group awarded a new contract with Cosco (Dalian) Shipyard Co., Ltd in China.

Norway’s TTS Group has been awarded a NOK 102 million (USD11.7 million) contract with Cosco (Dalian) Shipyard Company in China for five sets of cargo cranes and hatch covers."The contract regards five shipsets of cargo cranes and hatch covers. The equipment is for use on multi-purpose vessels," said a press note.Deliveries are expected to take place by the end of 2019, it said. Last year,  TTS Groupsecured another contract with Cosco (Dalian) Shipyard Co., Ltd in China for a shipset of cargo cranes and hatch covers.The TTS Group is an international corporation that provides first-rate handling solutions and access systems for the marine and offshore industries.

Maersk Tankers announced a move to renew its fleet with a confirmed order for six Chinese-built LR2 product tankers for delivery from 2020.Maersk Product Tankers’ board of directors approved the order for the six LR2 newbuilds on contract with Dalian Shipyard. The deal includes an option for four additional vessels.“The current market makes the investment attractive because it offers competitive asset prices. The fleet renewal will help to sustain a competitive fleet that is meeting customers’ demands and retain a strong market position in the LR2 segment…

China’s COSCO (Dalian) Shipyard has delivered the subsea support vessel “Maersk Involver” to offshore marine contractor Maersk Supply Service (MSS).   The 9,785 dwt  vessel delivery follows the “Maersk Installer”, who was handed over in October this year. This is part of  a batch four Stingray-class vessels ordered by Maersk from Cosco.     The vessel boasts 400 ts AHC crane, dynamic positioning class 3 and measures 11 meters high, 27 meters wide and 137 meters long.   "The delivery documents were signed by COSCO (Dalian) Shipyard Co., Ltd. and the buyer on 28 November 2017," said a statement from the company.   The delivery dates for the four vessels were postponed in mid-2017 due to the current market situation with new dates ranging from summer 2017 to spring 2018.

The Piraeus Port Authority (PPA) SA has announced the completion of a tender and finalization of a contract with Cosco SH (Dalian) Shipyard for the purchase of a new floating repair dock, an initiative that the port's management has pursued over the past year. The 240-meter floating repair dock will also have a width of 45 meters, a draft of 18 meters and a 205,66t capacity. The dock will be transported and installed in the Perama ship repair zone - west of Piraeus proper - after the completion of necessary infrastructure works in the area. The whole process is expected to be completed by February 2018. It is also noted that the tender…

COSCO (Dalian) Shipyard Co has delivered an bulk carrier, “FLAG LAMA”, to its European buyer, the company said in its press release.    The delivery documents were signed by and between COSCO Dalian and the buyer recently.     The bulk carrier measures 229 meters in LOA (length  of all), 32.26 meters in breadth and 20.05  meters in depth.   COSCO (Dalian) Shipyard is one of the core subsidiary enterprises of COSCO Shipyard Group. Its main business is ship and offshore repairing, conversion and new building.

Cosco (Dalian) Shipyard, subsidiary of Cosco Shipyard Group, has reached an agreement with Bermuda-based rig owner Northern Offshore to further delay the delivery dates of two jack-up drilling rigs amid challenging offshore drilling market. Dalian shipyard received an order for two LeTourneau Super 116E jack-up drilling rigs in November 2013 and the plan was to deliver the rigs in 1H2016 and 2H2016, respectively. According to the new agreement between the Chinese yard and Northern Offshore deliveries of the two rigs will also be deferred until further notice. Cosco Corp said that it is not possible to ascertain the financial impact of the rescheduling of the acceptances and deliveries of the rigs because it is uncertain when the rig owner will take delivery of the rigs.

The heavy marine transportation provider BigRoll Shipping has reached a milestone. The fourth and final MC Class vessel for BigRoll shipping was handed over by Cosco Dalian Shipyard Co. Ltd to new owner BigRoll Shipping in Leiden, the Netherlands. BigRoll Beaufort completes this unique series of four identical deck carriers. The Finnish Swedish 1A Ice Class MC-Class vessels are explicitly designed for the marine transportation of major modules and equipment for large energy projects both on and offshore and can deliver in the most remote and inaccessible areas on the planet.

Cosco Corporation Singapore said that Cosco  (Dalian) Shipyard Group Co, a 51% owned unit of its subsidiary, has recently delivered a salvage lifting vessel to its Chinese customer and a bulk carrier to its European customer.   De Bo 3, the 17,000 dwt salvage lifting vessel, was handed over to  its Chinese buyer. It  measures 159.6 meters in LOA (length of all), 38.8 meters in breadth and 10.9 meters in depth.    Myrto, the second ship, 81,600 dwt bulker has a length of 229 meters and a width of 32.2 meters was delivered to  to its European buyer.    The delivery documents were signed by and between COSCO Dalian and the buyers recently.

On 23 November 2016, Cosco Dalian Shipyard Co. Ltd handed over BigRoll Baffin, the third MC-Class Module Carrier for BigRoll Shipping, to her owners. The first two state-of-the-art MC-Class Module Carriers, BigRoll Barentsz and BigRoll Bering were handed over earlier this year. Both vessels have already executed several challenging voyages and did perform according to expectations and demonstrated excellent service speeds and vessel motions. Delivery of the last vessel of the series, BigRoll Beaufort, is expected in March 2017. BigRoll Beaufort will complete this unique series of four identical deck carriers, offering reliability and flexibility to the market.

Cosco (Dalian) Shipyard Co., Ltd., a subsidiary of its 51 percent owned Cosco Shipyard Group Co., Ltd., has delivered two jackups to the Foresight Group of companies through United Arab Emirates-based drilling and rig management services firm Hallworthy International FZC. Cosco Dalian signed the delivery documents for the two jackups,"N527" and "N581" -- possibly Vivekanand 2 (350' ILC) and Vivekanand 3 (350' ILC) -- with the buyer recently. The  jack-up  rigs,  both  measuring  74.09  meters  in  LOA  (length  of  all),  62.80  meters  in width,  are  designed  to  operate  at  water  depths  of  350  feet  and  is  capable  of  performing drilling operations at depths of up to 30,000 feet.

Alfa Laval’s new PureNOx Prime solution for water treatment in Exhaust Gas Recirculation (EGR), will be part of EGR systems on five very large ethane carriers (VLECs) to be operated by United Ethane Carriers (UEC). This order from MAN Diesel & Turbo comes only a short time after PureNOx Prime was introduced to the market. UEC, a joint venture between Jaccar Holdings and Hartmann Group for the commercial management of ethane carriers, will be the operator of five VLECs to be built for ship owner JHW Engineering & Contracting.

The heavy marine transportation provider BigRoll Shipping announced its first of four MC Class vessels under construction, BigRoll Barentsz, was launched on October 27, 2015 at Cosco Dalian Shipyard. The vessel construction and commissioning remains on schedule for delivery in March 2016. The second BigRoll vessel, the BigRoll Bering is expected to be launched in December, with an expected delivery date of May 2016. The remaining vessels will follow, with delivery anticipated to be the second half of 2016 and early 2017.

On July 22, COSCO (Dalian) Shipyard delivered a platform supply vessel (PSV), ¡°Hai Yang Shi You 660¡±, to China Oilfield Services Limited (COSL), the Chinese shipbuilder announced. The vessel measures 85.4 meters LOA, 20 meters in breadth, 8.6 meterd in depth and has a deck space of 1,000 square meters. It is designed to transport supplies and crew, as well as provide rescue and fire-fighting services for offshore platforms. The production design of the vessel was completed by COSCO (Dalian) Shipyard. COSCO Dalian has undertaken to build two PSVs for COSL. The other one is being readied for sea trials. COSCO Shipyards has secured orders for a total of four offshore supply vessels (OSVs) from COSL.

Intensifying crackdown on corruption China’s National Audit Office released an audit report for state-run shipping conglomerate Cosco Group in which it has uncovered substantial financial irregularities. The report found that Cosco had falsely left out a sum of RMB298m ($48m) in its revenue for the period from 2008 to 2013, as well as leaving out an expense sum of RMB169m, leading to a total net profit that is RMB129m less than reported. Several operational violations have also been found in subsidiaries of group, including Cosco Logistics and Cosco Dalian Shipyard, which resulted in huge losses for the group. The report says that Cosco lacks risk management and strict supervision on vessel charter operations.