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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.


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.  


China COSCO Shipyards Deliver Two More Bulk Carriers

COSCO (Guangdong) and COSCO (Dalian) Shipyards have each recently delivered bulk carriers to European owners. COSCO (Guangdong) Shipyard Co., Ltd has delivered a bulk carrier of 35000 dwt, “CHIOS LUCK”, to its European buyer. The bulk carrier measures 179.99 meters in LOA, 30 meters in breadth and 14.7 meters in depth. COSCO (Dalian) Shipyard Co., Ltd has delivered a bulk carrier of 92500 dwt, “OCEAN TOPAZ”, to its European buyer. The bulk carrier measures 229


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.


COSCO Zhoushan Shipyard Delivers Another Bulk Carrier

COSCO Corporation announce delivery of a 57,000 dwt bulk carrier to a European buyer COSCO Corporation (Singapore) Limited announces that COSCO (Zhoushan) Shipyard Co., Ltd ("COSCO Zhoushan"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a bulk carrier of 57000DWT, named "SUPERIOR", to its European buyer. The delivery documents were signed by and between COSCO Zhoushan and the buyer recently


Chinese Shipyards Get More Bulk Carrier Contracts

COSCO shipyards in Guandung and Zhoushan obtain bulk carrier orders worth $198M  COSCO (Guangdong) Shipyard has been contracted by a European company to build a 35,000 dwt bulk carrier scheduled for delivery in the first quarter of 2013. Separately, COSCO (Zhoushan) Shipyard has secured two contracts and four option contracts from another European company to build a total of six units of 64,000 dwt bulk carriers with eco-friendly and fuel-efficient designs


MES Delivers "Eco Friendly" Bulk Carrier

(Source: MHI)

M.V. Hanjin Chiba -- 7th Ship of the New Generation Eco-Ship “Mitsui neo56” -- 56,000 DWT Type Bulk Carrier Delivered Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 56,000 dwt type bulk carrier M.V. “HANJIN CHIBA” (MES Hull No


ClassNK-NAPA GREEN Wins IBJ Awards

ClassNK Chairman and President Noboru Ueda receiving the award

  Vessel performance monitoring and optimization solution ClassNK-NAPA GREEN was named the maritime industry’s top IT system by earning the IT Solutions Award at the International Bulk Journal (IBJ) Awards held at the Beurs-World Trade Center in Rotterdam on 17 November


Mariner Medevaced from Bulker near Alaska

A U.S. Coast Guard (USCG) helicopter crew medevaced a mariner from a 623-foot bulk carrier located approximately 75 miles southeast of Cold Bay, Alaska, Sunday. Coast Guard 17th District Command Center watchstanders received a call from the crew of ALLSEAS MARINE S.A


SCI Declares 1H Financial Results

SCI Tanker

  The Shipping Corporation of India declared its unaudited financial results for the quarter ended 30.09.2014 posting a profit of Rs.18.59 Crores as compared to a loss of Rs.123.53 crores during the quarter ended 30.09.2013. This has resulted in a cumulative profit of Rs.68


ClassNK’s Super Eco Ship for Coastal Trade

Focusing on Super Eco System

  As the Industry waits for the Ministry of Shipping, Government of India to roll out the much hyped policy to boost Coastal Shipping and Inland Waterways transport, ClassNK & Indian Register of Shipping (IRS) took the first step to conduct a workshop on “Super Eco Ship For India


G E Shipping to buy Product Tanker

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  The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Medium Range Product Tanker of about 48,700 dwt on 4th November, 2014. The 2004 Japanese built vessel is expected to join the Company’s fleet in the current quarter.


Recent Vessel Sales: October 2014

Vessel sales for October 2014  (as of November 1) as prepared by Shipping Intelligence, Inc., New York. Date Reported – Vessel Name – DWT – Built  (Age) – Price in Millions USD   Bulk Carriers 10/01 - NIKOL H - 24,159 - 97 (17) - $4.5


Freight Rate Peak Forecasted for 2016

Newport Shipping Group Chairman Harald Lone said, “Synchronized world economic growth is going to initiate higher demand for dry bulk carriers.”

The supply/demand imbalance that drove dry bulk markets down to 2009 levels during the first half of the year is set for adjustment, with Newport Shipping Group predicting an improved tonnage balance over the next couple of years, resulting in a freight rate peak in the 2016/2017 period.


Oshima-built Grain Carrier Delivered in the US

Newly developed bulk carrier with MALS (Photo: MHI)

Today the first unit of a new bulk carrier developed by Mitsubishi Heavy Industries, Ltd. (MHI) was delivered to Archer Daniels Midland Company (ADM) of the U.S., following its completion at Oshima Shipbuilding Co., Ltd. of Nagasaki, an MHI licensing partner.


First Bulk Carrier Delivered to ADM of US

Newly developed bulk carrier with MALS

  The first unit of a new bulk carrier developed by Mitsubishi Heavy Industries, Ltd. (MHI), a vessel offering superlative energy efficiency and environmental performance, was delivered today to Archer Daniels Midland Company (ADM) of the U.S


Wallem Adds Three Ship Simulators in Ukraine

Fared Khan

The Wallem Maritime Training Center in Odessa, Ukraine added three training simulators: bridge simulator (Transas NT-PRO 5000 5.25), engine room simulator (Transas Techsim 5000 8.3) and liquid cargo handling simulator (Transas LCHS 5000). The equipment will be used to simultaneously train deck and


MOL Drill Prepares for Offshore Incident

Under cooperation with Japan's Coast Guard, Mitsui O.S.K. Lines, Ltd. (MOL) has conducted a tabletop drill based on a scenario in which fire occurred in the engine room on a bulk carrier while under way at Kudako channel in Inland Sea, resulting in the vessel going aground


COSCO Delivers Bulker

  The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co., Ltd a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a 80,000 DWT bulk carrier, "CIC EPOS", to its European Buyer.  


Ecoships Claims 15% Ship Efficiency Gain

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Ecoships introduced a customized version of the Six Sigma DMAIC approach to process and performance evaluation in order to optimize the energy-efficiency of the vessels under its management. The technique has already resulted in Ecoships’ managed ships benefiting from up to 15% greater


Vancouver Welcomes Bulker on Her Maiden Voyage

M/V Jobst Oldendorff

The Port of Vancouver USA welcomed the M/V Jobst Oldendorff, commanded by Capt. Baisie of Ghana, on her maiden voyage October 16. Capt. Baisie and his 21-member multinational crew were welcomed to Vancouver by Oldendorff Port Captain Russell D’Souza






 
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