Marine link


Six New Subs for Turkey

214_Sumarine web.jpg

    On July 2, 2009, a contract was signed in Ankara by Howaldtswerke-Deutsche Werft GmbH (HDW), a company of ThyssenKrupp Marine Systems AG (TKMS), and MarineForce International LLP (MFI) for the construction of six submarines within the Turkish “New Type Submarine” program. The contract comprises the delivery of six material packages for the construction of submarines based on Class 214. The contract was concluded between the HDW/MFI Consortium and the Turkish defense procurement authority. This makes Turkey the fourth country after Greece, South Korea and Portugal to equip its navy with this submarine type and raises the total number of units of this class ordered to date to 21. Two of these boats are already fully operational with the South Korean Navy.

Nine Companies Bid for Hellenic Shipyards

Nine companies expressed interest in the privatization of Hellenic Shipyards at Skaramanga, part of the country's privatization agenda for 2001, the development ministry reported. The government's advisers on the project will shortlist bidders in the next 15 days and then ask for binding bids for the shipyard, whose major shareholders are ETBA Bank and workers. The ministry expects the project to be concluded by June.

Three Vie To Buy Shipyard

Greece received three bids for the sale of a majority stake in Hellenic (Skaramanga) Shipyards, one of 10 privatizations the development ministry has planned for 2001. "We have three bids, but one bid has no letter of guarantee. It's important that we have two bids that are good. They are what we were expecting," Deputy Development Minister Alekos Kalafatis said. Germany's biggest shipyard Howaldtswerke-Deutsche Werft AG (HDW)-Ferrostaal AG and Greece's Neorion Shipyards subsidiary Elefsina

Industry Pays Tribute to Innovation Awards Winners

Winners of the Lloyd’s List-SMM 2002 Awards for innovation in shipbuilding and marine technology were announced in the Hamburg Congress Centre last night (September 24) at a gala ceremony which brought day one of the world’s biggest maritime fair to a glittering conclusion. Several hundred leading industry figures gathered for the final stage of an initiative launched in March by Lloyd’s List and SMM organisers Hamburg Messe to recognise the technical advances which enable maritime

Paragon Moves on Containerships

Paragon Shipping Inc. has sold one of its newbuilding Kamsarmax contracts and has also entered into agreements to acquire two 3,400 TEU newly built containerships from their builder Howardtwerke-Deutsche Werft, GmbH, Germany at a price of $49m. The container vessels are scheduled to be delivered to Paragon between July and August, 2010. “We have taken advantage of favorable conditions in the sale and purchase markets to sell one of our Kamsarmax newbuilding contracts and also to acquire

Thyssenkrupp Marine Systems Awarded Service Order in Peru

Photo: ThyssenKrupp Marine Systems GmbH

 Thyssenkrupp Marine Systems, a leading global system supplier for submarines and surface vessels, has received a service order worth around €40 million from the Peruvian naval shipyard SIMA.    A key component of the order is the provision of consulting during the planning and realization of extensive modernization work on four HDW 209/1200 class submarines over a period of seven years.   

Trico Marine Rated As Strong Buy

Deutsche Banc Alex.Brown said on Thursday that it had started coverage of Trico Marine Services Inc., an energy services provider, with a strong buy rating and a $20-a-share price target. Trico shares closed at $16-1/16 on Wednesday. Deutsche Banc Alex Brown analysts said shares could rise from earnings leverage due to offshore oil rig use in the Gulf of Mexico and the North Sea, expanded deep-water markets of West Africa and Brazil, a projected earnings recovery

MS&D 2009 Hamburg

The latest surveillance, defence and security equipment is presented by the 60 exhibitors at MS&D 2009, the international conference and exhibition on Maritime Security & Defence (MS&D), to be held at the Hamburg Fair site from 30 September to 2 October 2009. The exhibits include sophisticated optical and acoustic sensors, which have substantially improved the automated monitoring and control technology of security and defence equipment and systems

Meyer Werft Buys Finland out of Turku Shipyard

Photo: Meyer Turku

Germany's family-owned Meyer Werft shipyard is buying the Finnish state out of Turku shipyard in southwestern Finland, the government said on Wednesday. Meyer Werft and the government last year bought the troubled shipyard from Korean trade and ship corporation STX, with the change of ownership helping the yard to win several orders. The price Meyer Werft is paying Finland for the 30 percent stake it does not already own was not disclosed.

Hapag-Lloyd Becomes 'Blue Chip'

Photo: Hapag-Lloyd

 Hapag-Lloyd would become a member of the SDAX index of the Deutsche Börse, with its first day of trading on March 21, announced Deutsche Börse.   The SDAX is a German Blue Chip Equity Index and contains 50 companies listed in the Prime Segment of Deutsche Börse which follow the 30 DAX and the 50 MDAX companies with regard to free float market capitalisation and order book turnover.   

NordLB to Shed Shipping Loans to KKR

German state-owned lender NordLB and KKR Credit said they had reached an agreement by which KKR Credit will acquire a $1.5 billion portfolio of shipping loans from NordLB jointly with an unspecified sovereign wealth fund. The portfolio of performing and non-performing loans will include up to

Star Bulk Announces $51.5M Offering Common Stock

Courtesy Star Bulk Carriers Corp.

Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK) today announced it plans to make an underwritten public offering for $51.5 million gross proceeds of its common stock. The Company intends to use the net proceeds from the offering for general corporate

Wärtsilä Nacos Platinum for Four Cruise ships

The Wärtsilä Nacos Platinum series of navigation, automation and control systems. Photo Wartsila

Wärtsilä has been awarded the contract to supply a broad range of integrated automation, navigation and dynamic positioning equipment, as well as the complete uninterruptable power systems (UPS) for four new cruise ships. Two of the vessels are being built at the Meyer Werft shipyard in

German Shipbuilders Strong in a Weak World Market

High-tech rescue vessel BERINGOV PROLIV built by Nordic Yards intended for use in the arctic. (Photo: Nordic Yards)

VSM: Collapse in demand dampens expectations for the current year   The global shipbuilding industry continued its downturn in 2015 with the number of new orders halved compared to 2013 level. The year 2016 is shaping up to be even worse.   

Norwegian Joy Keel Laid

Photo: NCL Corporation Ltd

 Norwegian Cruise Line has celebrated the start of construction of its new Chinese ship, Norwegian Joy.   A keel-laying ceremony was held at the Meyer Werft shipyard in Germany to mark the official start of the project, with a traditional “lucky coin” being laid down prior

Genting Completes Purchase of 3 shipyards


Genting Hong Kong, announced the completion of the acquisition of Nordic Yards’ three shipyards in Wismar, Warnemunde and Stralsund, Germany for the consideration of 230.6 million Euros. The deal will give Genting Hong Kong the core expertise, manpower

German Navy's Third F125 Frigate Christened

Photo: ThyssenKrupp Marine Systems

The German Navy's third F125-class frigate Sachsen-Anhalt was christened in March during a ceremony held at ThyssenKrupp Marine Systems shipyard in Hamburg. Dr. Gabriele Haseloff, wife of the premier of the state of Saxony-Anhalt after which the frigate has been named

Genting HK Orders 10 Cruise Ships Worth $4 bln

Genting chairman Lim Kok Thay, third from left, at Wismar, Germany at the signing ceremony for the fleet order. Photo: Genting Hong Kong

 Genting Hong Kong, a unit of Malaysia's gaming giant Genting, is building 10 cruise ships worth 3.5 billion euros ($4 billion) in anticipation of higher demand from the Chinese market.   Genting has signed an order for 10 ships with the Lloyd Werft Group

DP World Launches Tender Offer for $1.5 bln 2017 Sukuk

DP World could buy back around half of its $1.5 billion sukuk offering which is due to mature in 2017 as the global ports operator seeks to reduce the cost of its debt, it said in a statement on Monday.   Holders of the Islamic bond have until 1600 London time on May 23 to decide whether to

HCI Group Takes Over 13 Feeder Containerships

Courtesy HCI Capital

The HCI Group and two other investors have taken over a total of thirteen ships from the loan portfolio of HSH Nordbank. The HCI Group structured the portfolio acquisition and is investing a substantial amount itself. The portfolio consists of thirteen feeder ships of between 800 and 1,800 TEU

Industry Group Developing New Hull Coating System

Composition of the PPG SIGMAGLIDE self-adhesive fouling release film solution (Image: PPG)

PPG’s protective and marine business has received EU Funding for a project which aims to produce a new fouling protection system for commercial vessels.   A project development group including PPG, MACtac, Meyer Werft/ND Coatings

UASC Completes Award Winning Finance Deal

Photo courtesy of UASC

United Arab Shipping Company (UASC) announced  the recent conclusion of a series of transactions that resulted in the issuance by a U.S. based trust of $162 million of Enhanced Maritime Trust Certificates (EMTC). The EMTCs were issued in an offering pursuant to Section 4(a)(2) and Regulation

DP World Launches $1.2 bln Sukuk Issue to Cover Tender

Dubai-based ports operator DP World launched a seven-year $1.2 billion sukuk issue on Tuesday, a document from lead managers showed.   The issue, structured to be compliant with rules allowing investors in the United States to participate, will price at 237

Ovation Of The Seas Sets Sail From China

Ovation Of The Seas. Photo by Royal Caribbean

 Royal Caribbean christened their third Quantum class cruise ship, Ovation of the Seas, to huge fanfare in a ceremony in Tianjin, China.   The event marked the first time a Royal Caribbean ship has been named in China, and actress Fan Bingbing became the company’s first ever

Newly Formed MV WERFTEN to Focus on Cruise Builds


Genting Hong Kong announced that the three shipyards in the German State of Mecklenburg-Vorpommern bought this April will be named as MV WERFTEN*, be managed in Wismar and will focus on building large new cruise ships. Lloyd Werft located in Bremerhaven and bought last September will focus on its

rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright