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COSCO China Shipyards Diminish Group Q1 2013 Profits

The Group achieved $9.7 million net profit on turnover of $733.0 million in Q1 2013, but shipyard & drybulk operations contributions down. In Q1 2013, turnover from shipyard operations decreased by 25.5% to $719.2 million from $965.9 million in Q1 2012, owing to lower revenue contribution from the ship repair and ship building segment. The Group delivered 7 bulk carriers in Q1 2013. Of these, COSCO Zhousan and COSCO Guangdong shipyard delivered 2 bulk carriers each while COSCO Dalian shipyard delivered 3 bulk carriers. Turnover from dry bulk shipping and other businesses increased 7.8% from $12.8 million in Q1 2012 to $13.8 million in Q1 2013. Outlook As the Group continues construction in 2013 on new ship building contracts that were secured in 2010 to 2012 at low contract values due to the slumping bulk carrier shipping market then, the Group expects operating margins on these new shipbuilding projects to continue to be under great pressure notwithstanding improving gains in efficiency and productivity. In offshore marine engineering operations, the Group aims to enhance its offerings. It is currently one of the largest marine engineering groups in the People’s Republic of China. Offshore marine projects in its order book as at 31 March 2013 include 1 deep-water drillship, 1 FPSO, 1 semi-submersible accommodation rig, 1 semi-submersible accommodation vessel, 1 jack-up barge, 1 semi submersible, 1 wind turbine installation vessels, 2 pipelay vessels


Bulk Carrier into Unithai for Fix

The largest ship currently under repair at Thailand’s Unithai Shipyard is the 140,532 dwt bulk carrier Eurydice D, owned by Marmaras. Other ships in the yard include the 35,224 dwt bulk carrier Maris, owned by Trust Shipping Enterprise, Piraeus, the 22,857 dwt part containership Med Lerici, owned by B Navi, World CI’s 3,043 dwt lpg vessel Gas Eurasia, the 22,531 dwt general cargo vessel Everise Glory, owned by Everise Maritime, Kuala Lumpur, and Baba Kaiun’s 10


China's Taizhou Sanfu Yard Launches Bulker

Photo credit: Taizhou Sanfu

Taizhou Sanfu Ship Engineering Co. launch a 92,500 dwt bulk carrier for Indian owners   The builders say that this was the first PSPC compliant vessel ever built in their yard (referring to IMO's 'Performance Standard for Protective Coatings) which applies to dedicated seawater ballast tanks in all types of ships and double-side skin spaces of bulk carriers.   The vessel is 230.0 m LOA, with a molded breadth of 38.0m, and a design draft of 12.50 m. Speed is 14.90 knots


Diana Shipping Time Charter Contracts

Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the transportation of dry bulk cargoes, announced that it has entered into a time charter contract with Louis Dreyfus Commodities Suisse S.A., for one of its Panamax dry bulk carriers, the m/v Nirefs, at a gross charter rate of $21,000 per day for a period of about 23 to about 25 months. The charter is expected to commence in the middle of February 2010.


GL Offers New Bulk Carrier Database

Shipping companies and owners of bulk carriers can now use a new database developed by Germanischer Lloyd to obtain comprehensive information about all requirements relating to the structural and equipment aspects in relation to the cargoes to be conveyed in each case. The new cargo compliance tool "PROTOS" (Provisions for Transportation of Solid Bulk Cargoes) was presented at the first Bulker Forum, which was attended by over 40 shipowners and business partners.


Dunkerque-max M/V Cape Garland Delivered

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Mitsui Engineering & Shipbuilding Co., Ltd. completed and delivered the 177,000 dwt type bulk carrier MV Cape Garland (Hull No. 1693) at its Chiba Works on January 30, 2009. This ship is the newly designed Cape-size Bulk Carrier of Dunkerque-max Type. It has a double-side skin to cargo holds construction. A Dunkerque-max type is a common name for Cape-size Bulk Carriers built to the restriction of the port of Dunkirque, France


Bureau Veritas Issues First EEDI Certificate

Sinopacific's Crown63 class Bulk Carrier, JS Amazon, gains BV's first EEDI rating   Leading international classification society Bureau Veritas has issued its first EEDI (Energy Efficiency Design Index) certificate to the ultramax geared bulk carrier JS Amazon, the lead ship in a new generation of ‘CROWN63’ vessels developed by China’s  Sinopacific Shipbuilding Group with bulk carrier expert Setaf-Saget.  


G E Shipping Takes Delivery of Bulker

G E Shipping

  The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt). The vessel was ordered by GE Shipping in July 2013 and has been built at Tsuneishi Heavy Industries (Cebu) Inc., Philippines. The said vessel was contracted for sale in August 2015 and will be delivered to the new buyers this month. (See: http://www.greatship.com/pdf/JagAakashSale.pdf)


Diana Shipping Inc. Takes Delivery of New Vessel

Diana Shipping Inc. a global shipping transportation company specializing in dry bulk cargoes, today announced that it has taken delivery of the Bolina, a 73,583 dwt Panamax dry bulk carrier built in 2004, to be renamed Thetis. The vessel is chartered to Bunge S.A., Geneva, Switzerland for a period of about 36-38 months, at the charterer's option, at a rate of $25,000 per day, gross of commissions, that commenced on August 4, 2004. Diana Shipping Inc. has


Bulk Carriers, Oil Tankships: GBS Verification Underway

Ship surveyor: Photo courtesy of LR

The International Maritime Organisation says that its audit teams will shortly be established to verify construction rules for bulk carriers and oil tankers of classification societies which act as recognized organizations (ROs), following the receipt of requests for verification by the 31 December 2013 deadline. Background A new SOLAS regulation II-1/3-10 on Goal-based ship construction standards (GBS) for bulk carriers and oil tankers was adopted by IMO’s Maritime Safety Committee


LNG-fueled Bulker Ordered from Korea

Hyundai Mipo Dockyard (HMD) has signed a contract to build a 50,000 dwt bulk carrier with ILSHIN LOGISTICS. The project is a collaboration between POSCO and ILSHIN LOGISTICS to develop the first in a new generation of ships for greener shipping.


Antwerp Port Inks Iranian Collaboration

Eddy Bruyninckx signed the agreement on behalf of the Antwerp Port Auhority, Saeed Nejad on behalf of the Ports & Maritime Organisation. Photo Antwerp Port

Last week Antwerp Port Authority signed a collaboration agreement with Shahid Rajaee Port Authority which controls the port of Bandar Abbas in Iran.   Bandar Abbas accounts for 90% of the in- and outgoing containers of Iran and for nearly half of the 200 million tonnes of freight handled by


Offen Group Deploys DNV GL Energy Efficiency Training

(From left to right): André Grabow (DNV GL), Madeleine Engelhardt, Dietmar Thiem, Nicole Ritter (all CPO Container), Jens-C. Ketels (CPO Crewing), Alisa Ban-Rodić (DNV GL), Björn-Hendrik Salecker (CPO Tanker and Bulker). Photo: DNV GL

The three shipping companies of the Offen Group, CPO Container, CPO Tanker and CPO Bulker, have decided to implement DNV GL’s e-learning course “Energy Efficiency on Board” across their entire fleet.  The E-learning tool, developed by DNV GL’s Maritime Academy


Japanese Shipbuilding Sliced

Graph: Alibra Shipping Ltd. Research

 New ship orders placed at Japanese yards fell by 80% during H1 2016 compared to H1 2015, according to data from the Japan Ship Exporters' Association (JSEA).    According to ALIBRA Weekly Market Report , this is the worst decline since the autumn of 2008 in terms of gross tonnage


Port of Antwerp on the Way to Another Record Year

Photo: Port of Antwerp

 The port of Antwerp handled a freight volume of 108,317,922 tonnes in the first six months of this year, 3.6% more than in the same period last year. The container volume in TEU expanded by 4.4% while liquid bulk grew even more, by 8.4%


G E Shipping Acquires Bulk Carrier

Courtesy GE Shipping

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a Secondhand Capesize Dry Bulk Carrier “Jag Anand” (2011 built) of about 179,250 dwt. The company had contracted to buy the vessel in June 2016. With the inclusion of the vessel


G E Shipping Buys Product Tanker

Courtesy G E Shipping

The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Medium Range Product Tanker of about 48,539 dwt. The 2005 Japanese built vessel is expected to join the Company’s fleet in Q2 FY17. The Company’s current fleet stands at 33 vessels


UASC to Sell Chemical Tanker Unit

Photo: United Arab Shipping Co

 United Arab Shipping Co (UASC) is considering the sale of its stake in United Arab Chemical Carriers (UACC) for oil and petrochemicals  as part of its plans to merge with German container line Hapag-Lloyd, says Bloomberg.  


Capsize Scrapping: It's Complicated!

Graph: ALIBRA Shipping

 Last year saw an upswing in Capesize spot rates during the first seven months of the year, peaking in early August, rallying briefly in September and declining for the rest of the year, says ALIBRA Shipping  in its Weekly Market Report.  


New Bulk Terminals Trade Association Formed

The newly established Association of Bulk Terminal Operators (ABTO) has been formed to provide the world’s bulk terminals with a united front at governmental level to ensure the sector can better face the environmental and commercial challenges ahead.  


G E Adds a Kamsarmax Dry Bulk Carrier Jag Ajay

Photo: Great Eastern Shipping

 The Great Eastern Shipping Company took delivery of a new building Kamsarmax dry bulk carrier Jag Ajay.    Great Eastern Shipping Company Ltd has informed the Bombay Stock Exchange regarding a Press Release dated June 30, 2016 titled: G E Shipping takes delivery of a new building


ClassNK Sets up Industry's first Digital Archive Center

Logo

ClassNK has established ClassNK Archive Center (NKAC), the maritime industry’s first onshore digital archive center that fully complies with IMO Goal-based ship construction standards (GBS) and the Industry Standard, which begin to apply from today.  


Diana Shipping Contract for M/V Oceanis With Nidera

M/v Oceanis. Photo: Diana Shipping Inc.

 Diana Shipping Inc.  has announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Nidera S.P.A., Roma, for one of its Panamax dry bulk vessels, the m/v Oceanis.    The gross charter rate is US$5,200 per day


ClassNK Amends IGC Code Rules and Guidance

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Classification society ClassNK has amended its Rules and Guidance for the Survey and Construction of Steel Ships in response to the latest industry developments, including amendments made to the International Code for the Construction and Equipment of Ships Carrying Liquefied Gases in Bulk (IGC


BSM Acquires USCG Qualship 21 Program Approval

Honourable Henry Jackman Photo BSM

Bernhard Schulte Shipmanagement is proud to announce that it has received US Coast Guard (USCG) Qualship 21 Program approval for the BSM India-managed, Algoma-owned bulk carrier Honourable Henry Jackman.   The Quality Shipping for the 21st Century (‘Qualship 21’) Program is






 
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