Mitsubishi Heavy Industries, Ltd. (MHI) and Imabari Shipbuilding Co., Ltd. have signed a technological collaboration agreement on container carriers The initiative aims to combine MHI's technological capabilities, as in the development of energy-saving vessels, and Imabari's strong cost competitiveness, in order to establish an advantageous framework for competing in the international shipbuilding market. By effectively utilizing the shipyards of both companies, together MHI and Imabari will become capable of flexibly accommodating bulk orders - e.g. construction of multiple ships of the same design - thus strengthening and expanding their respective business for high-value-added container carriers. The three-year collaboration agreement, which can be extended upon discussion, encompasses all container carriers, without setting limitations on container carrying capacity or propulsion systems. Going forward, for business opportunities relating to container carrier construction, the two companies will exhaustively consider the appropriate ship type, propulsion system and other technological features to match the shipowner's needs, and propose the optimum solution. MHI is recognized as a pioneer in Japan's container carrier construction industry, completing the Hakone-maru, the first Japanese-built container ship, for Nippon Yusen Kabushiki Kaisha (NYK Line) in 1968. To date MHI has built 147 container carriers in total (including vessels currently under construction).
Hyundai Heavy Foreign Ship Orders At $440M South Korea's Hyundai Heavy Industries Co. won $440 million in foreign shipbuilding orders for 11 vessels so far this month. The details are as follows: -Taiwan's Yangming Marine Transport Corp. ordered two 5,500 teu container carriers -A Greek shipping firm ordered two 172,000 dwt bulk carriers -An Indian shipping firm ordered one 75,000 dwt bulk carrier -South Africa's Safbulk ordered four 172,000 dwt bulk carriers
Swiss shipowner Massoel S.A. reportedly has ordered three Handymax bulk carriers in cooperation with Norway's B Skaugen shipping group. The 46,000-dwt vessels are scheduled for delivery between March and October 2001 from Japan's Mitsui Engineering and Shipbuilding. Skaugen has stakes in two of Massoel's existing bulk carriers while Massoel has an interest in the Norwegian company's Handymax bulk carrier Skaustrand.
Greenship Holdings, a fully-owned Singapore subsidiary of JACCAR Holdings, has established two separate entities to expand into ship-owning and operating activities in the gas and dry bulk sectors. Greenship Holdings is aiming to own and operate advanced, fuel-efficient and environmentally-friendly vessels. Its original commitment, totaling 30 vessels in the gas and dry bulk sectors, with a total investment of around $900 million
The latest batch of orders for Deltamarin's B.Delta design bulk carriers comes from international shipowners, all to be built in China. The B.Delta43 order by the German ship owner HBC Hamburg Bulk Carriers at CSC Qingshan Shipyard and the B.Delta37 order by the Tunisian ship owner Transbulk at Yangfan shipyard are the latest additions to Deltamarin’s B.Delta series. On top of these new orders, China Navigation Company (CNCo) has exercised an option for another four B
Greek shipowner W Marine Inc. has ordered a series of post-Panamax bulk carriers based on the Green Dolphin 84S design. The design was developed by the Shanghai Merchant Ship Design & Research Institute (SDARI) with support from DNV GL. Managing Diriector of W Marine Inc., Nikolaos Triantafyllakis said, “The aim of the company, in line with the wishes of its founder, Yiannis Sarantitis, is to build up a homogeneous fleet of vessels ranging in size between Panamax to post-Panamax
Japanese shipyards received in October foreign orders for 44 vessels totaling 1,583,880 gt, the Japan Ship Exporters' Association reported. The tonnage jumped 728.4 percent compared to orders received a year earlier, a spokesperson said. Thirty-five orders were for bulk carriers, seven for freighters and two for oil tankers. The statistics cover orders received by association members for steel vessels of 500 gt or more.
Greek shipowner W Marine Inc. has ordered a series of post-Panamax bulk carriers based on the Green Dolphin 84S design. The design was developed by the Shanghai Merchant Ship Design & Research Institute (SDARI) with support from DNV GL. Managing Diriector of W Marine Inc., Nikolaos Triantafyllakis says: “The aim of the company, in line with the wishes of its founder, Yiannis Sarantitis, is to build up a homogeneous fleet of vessels ranging in size between Panamax to
India's largest private sector shipping firm Great Eastern Shipping Company Ltd. (GE Shipping) has signed a contract to sell a 1996-built capesize dry bulk carrier Jag Arjun by this March-end. "The vessel will be delivered to the buyers during the fourth quarter (January-March) of the current fiscal," the company said in a statement. Capesize dry bulk carriers, the largest cargo ships plying in international waters, are mainly used to transport coal
Star Bulk Carriers Corp. took delivery on February 27 of M/V Honey Badger (ex HN NE 164) and M/V Wolverine (ex HN NE 165), two 61,000 dwt Ultramax bulk carriers built by Nantong COSCO KHI-Ship Engineering Co. (NACKS). The new vessels are the first two of four similar vessels ordered at NACKS, which are all built with modern specifications for low fuel consumption and reduced carbon emissions, Star Bulk said. Following the delivery of the vessels
Diana Shipping Inc. has signed, through three separate wholly-owned subsidiaries, three Memoranda of Agreement to acquire from a related party three Panamax vessels for an aggregate purchase price of $39.8 million. These vessels are the m/v Sunshine, a 2010 built Panamax dry bulk vessel of 75
Dry bulk shipping companies being hit the hardest on account of the deteriorating business climate are likely to be swept by a new wave of bankruptcies, reports Nikkei. The global commodities bust has rocked the dry-bulk shipping industry
Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited resigned on December 28, 2015, the Company’s Board of Directors was comprised of two Class II directors, two Class III directors
The dry bulk market faced a lot of headwind in 2015 as dwindling demand and over-supply created very unfavourable market conditions, says BIMCO. 2016 has shown no improvements so far and prospects for the rest of the year are not looking promising
The chemical and product tanker Stena Imperative was yesterday named at China Merchants Wharf in Hong Kong. The vessel, an IMOIIMAX MR tanker, is wholly owned by Stena Bulk and was delivered a few days ago from the Chinese shipyard CSSC Offshore & Marine Engineering (CSSC OME*) in
Dry bulk shipping is facing a perfect storm and requires drastic supply side measures if the industry is to return on course to profitability in the medium term, according to the latest edition of the Dry Bulk Forecaster report published by global shipping consultancy Drewry.
Singapore’s dry bulk shipping company Mercator Lines Limited has has entered into Memoranda of Agreements to sell five bulk carriers, the company’s judicial manager said. The judicial manager appointed to oversee the bankruptcy of Mercator Lines (Singapore) has announced
Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels
Greek dry bulk shipping company Diana Shipping has entered into a time charter agreement with Geneva-based SwissMarine Services S.A. for its Capesize dry bulker the m/v Houston. The gross charter rate is US$5,150 per day, minus a 5% commission paid to third parties
Japan's Nippon Yusen Kaisha (NYK) has posted a $277.5mln extraordinary loss in the third quarter of year ended 31 March 2016 as it reduced the book value of its fleet inline with current market prices and expectations. The extraordinary loss came after it re-assessed the recoverable value of
Malaysian Bulk Carriers Bhd (Maybulk) is forecasting significant losses for the fourth quarter of 2015 and the financial year ended December 31, 2015 amid depressed market condition. Maybulk, which operates the country’s largest fleet of dry bulk vessels used for international
A report from the Freight Investor Services (FIS): “When there’s blood on the streets, it’s time to buy, even if the blood is your own,” shipowner Leon Patitsas rather enigmatically told this week’s Marine Money conference.
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year so far, says Clarksons Research. With a nearly constant stream of negative news continuing to emerge across each of the key dry bulk
U.S.-flag Great Lakes freighters carried 2.3 million tons of dry-bulk cargo on the Great Lakes in January, a decrease of 23 percent compared to a year ago, according to figures compiled by the Lake Carriers’ Association (LCA). Iron ore cargos decreased 20 percent
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, slipped below 300 points on Thursday, to an all-time low. The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser