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Carrier Contract

Korean Firms Win Qatar LNG Carrier Contracts

The Samsung Heavy Industries Co., has won a $1.14b deal to build four liquefied natural gas (LNG) carriers. The deal from Qatar Gas Transport Co. Ltd. calls for Samsung Heavy to build the four carriers worth $286 million each by February 2010, the company said in a regulatory filing. Meanwhile, the Daewoo Shipbuilding & Marine Engineering Co., the world's third-largest shipyard, said Monday it had received a $1.22 billion order to build five LNG carriers. The deal calls for Daewoo Shipbuilding to also supply four of the five carriers to Qatar Gas Transport Co. Ltd., and one to an unidentified European company. Source: Asia Pulse

Wärtsilä Wins UK Aircraft Carrier Contract

Wärtsilä will supply main diesel generating sets and their auxiliary and support systems for the Royal Navy's Future Aircraft Carriers. (Photo: Thales) Wärtsilä has been awarded the contract for approx EUR 30 million for the manufacture and supply of the main diesel generating sets and their auxiliary and support systems for the Royal Navy's Future Aircraft Carriers (CVF) by Thales Naval Division on behalf of the Aircraft Carrier Alliance

Freight Logistics Implements CargoSphere Rate Technology Platform

Photo: CargoSphere

CargoSphere, a cloud-based global rate management solution and confidential Rate Mesh for the ocean and air transportation and logistics industries, has announced that Freight Logistics, a global freight forwarder and logistics service provider, has implemented the CargoSphere technology platform.  Freight Logistics is now self-managing air and ocean carrier contracts using CargoSphere’s SUDS (Smart Upload and Diagnostic Solution) and is receiving rates over CargoSphere’s

SINOPACIFIC Christens Newbuild Bulker


SINOPACIFIC Shipbuilding Group held a christening ceremony today at its Dayang Shipyard for a newly built Ultramax CROWN63R.   As the Godmother, Madam Grace Yang, the wife of former Chinese Ambassador to Greece christened this new vessel as SINICA GRAECA, which is written in Latin (SINICA means China in old Greek) and symbolizes the great Chinese and Greek cultures. Representatives from the shipowner, government, bank, classification societies, supervision teams, suppliers

Huntington Risks Losing $194 Million on Carrier’s Overrun

Huntington Ingalls Industries Inc. stands to loss as much as $194.3 million, more than 40 percent of its potential fee, under the Navy’s latest estimate of overruns for the USS Gerald R. Ford aircraft carrier, according to Bloomberg. Construction of the Ford, the Navy’s most expensive warship, is likely to exceed by $884 million the shipbuilder’s target contract cost of about $5.2 billion for detailed design and construction

Wärtsilä Receives Repeat Order

Wärtsilä Corporation has received a repeat order for two more Sulzer RT-flex engines with electronically-controlled common-rail fuel injection. They will be installed in two 30,000 tdw multipurpose carriers contracted at Shanghai Shipyard in China by Chinese-Polish Joint Stock Shipping Co (Chipolbrok). Two similar engines were contracted in October 2001. The engines are seven-cylinder Sulzer RT-flex60C engines, each with a maximum continuous output of 16,520 kW (22,470 bhp) at 114 rev/min.

Delivery of Cargo to Carrier Creates Quasi-Contract

The U.S. Court of Appeals for the Sixth Circuit ruled that a quasi-contract is created when the shipper delivers cargo to the carrier for ocean transportation. In the instant case, the shipper contracted with (and paid) a freight forwarder for shipment of its cargoes from the United States to Syria. The bills of lading were not signed by the shipper. The shipper delivered the cargoes directly to the carrier’s vessels at the pier in Texas. The cargoes were transported and delivered in good order

G E Shipping Contracts to Buy a Supramax Bulk Carrier

Great Eastern

  The Great Eastern Shipping Company Limited (G E Shipping) has signed a contract to buy a Supramax Bulk Carrier of about 52,454 dwt. The 2006 built vessel is expected to join the Company’s fleet in September-October 2014. The Company’s current fleet stands at 30 vessels, comprising 22 tankers (8 crude carriers, 12  product tankers, 2 LPG carriers) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax, 4 Supramax)  with an average age of 10 years aggregating 2

Navy Awards Design Contracts for UCLASS Carrier Development

Unmanned X-47B on flight deck: Photo credit USN

The Navy has awarded four Preliminary Design Review (PDR) contracts for the Unmanned Carrier Launched Airborne Surveillance and Strike (UCLASS) air vehicle segment.
 UCLASS will be the first deployed carrier-based unmanned air system. It will provide persistent, unmanned, semi-autonomous, carrier-based Intelligence, Surveillance, Reconnaissance and Targeting (ISR &T) with precision strike capability to support 24/7 carrier operational coverage.

India's Great Eastern Shipping Sells Two

A dry bulk carrier has been delivered to the buyers & the contract for sale of a product carrier tankship has also been signed. The Great EasternShipping Company Ltd. (G E Shipping) has delivered its 1995 built Panamax dry bulk carrier Jag Arnav (about 71,000 dwt) to undisclosed buyers. Earlier, the company contracted to sell Jag Pawar, a 1988-built general purpose product carrier of about 29,900 dwt, with delivery to the buyers in Q1 2014.

INS Viraat on its last Journey

INS VIRAAT is being towed

The INS Viraat is on the last journey and the ship is being towed back by three tugs to Mumbai for the decommissioning. SCI Mukta, an Anchor Handling & Towing Vessel (AHTS) of the National Flagship Carrier i.e. The Shipping Corporation of India Ltd

DSME Taps GTT to Equip Maran’s New LNG Carriers

GTT said it has received an order from Daewoo Shipbuilding & Marine Engineering (DSME) to equip two new LNG carriers scheduled for delivery in 2019.   The vessels will be built at DSME's shipyard in Geoje, Korea, on behalf of Maran Gas Maritime, a Greek management company

Ready for take-off? - Drewry

Tab1e 1 Note 2016 data is up to 20 October only Source Drewry Maritime Research, derived from World Container Index

The recent rally in Asia to Europe spot market rates has improved carriers’ chances of securing higher 2017 contract rates. How much extra will shippers have to fork out? It has been another typically volatile year as far as the spot freight rate market (i.e

OCEAN Alliance Gains US Approval

File photo: Port of Long Beach

The proposed OCEAN Alliance between several of the world’s largest container shippers has received approval from the U.S. Federal Maritime Commission (FMC), allowing it to become effective Monday, October 24, 2016.   The OCEAN Alliance, comprising COSCO Shipping, CMA CGM

GasLog Orders New LNG Carrier from SHI

Photo courtesy GasLog

 GasLog Ltd. today announces that it has signed a time charter party with Centrica plc. ("Centrica") to charter a vessel for a period of seven years. The vessel, a 180,000 cubic meter LNG carrier with XDF propulsion, has been ordered from Samsung Heavy Industries

Container Shipping Market has Bottomed Out

Photo: CMA CGM

Hanjin’s receivership represents the trough of the container shipping market and despite continuing concerns of weak trade growth and fleet oversupply a gradual market recovery is now expected, according to the latest annual Container Forecaster and Review 2016/17 report published by global

Teekay LNG May Issue Bonds to Fund Newbuilds

Photo:  Teekay Corporation

 Teekay LNG Partners intends to issue new five-year senior unsecured bonds in the Norwegian bond market.    Net proceeds from the bonds are expected to be used to fund newbuilding installments, as well as to refinance NOK bonds maturing in May 2017 and general partnership purposes

Vard Extends SCHOTTEL Propulsion Order

VARD 9 28 - 3 Module Carrier Vessels for KMTF. (For illustration only, courtesy VARD)

Having already secured the contract in early summer to fit 15 Vard design 9 21 module carriers, propulsion specialist SCHOTTEL has now also received a follow-up order to fit three further Vard design 9 28 vessels with 12 main and auxiliary units.  

MOL to Launch Biannual Vessel Safety Campaign

Photo: Mitsui O.S.K. Lines, Ltd

 Mitsui O.S.K. Lines, Ltd. (MOL) has announced the launch of its biannual safety campaign to begin on October 15, targeting all MOL group-operated vessels.   MOL views safe operation as a social commitment and gives it the highest of priorities in all of its business activities

South Korean Yards Eyed for $3.8 Bln LNG Shipbuilding Deal

A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion, two people with direct knowledge of the matter told Reuters.  

NYK Expects Loss of $1.9 Bln

Image: NYK Line

 The Japanese shipping operator Nippon Yusen Kabushiki Kaisha (NYK Line) will book an ‘extraordinary’ loss totaling 195 billion Japanese yen (U.S. $1.89 billion) for the interim period of its current fiscal year, forced by a deep slump in the shipping market to write down the

LNG Newcomer Mulls $3.8 billion 20-Vessel Order

Image: CB&I

 According to Reuters CBI Energy and Chemical (CB&I), a little known investment firm, plans to order up to 20 LNG carriers, in a deal worth up to US$3.8 billion – a  huge prospect to South Korea’s beleaguered shipbuilding sector and a massive boost to the global LNG

NYK Launches Car Transport Service to Hai Phong

NYK Initiates New Service Transporting Cars to Hai Phong Photo NYK

NYK has started a new car transport service “Ruffles Ao Dai RORO Express (REX)” linking Hai Phong in Northern Vietnam with Ho Chi Minh and Laem Chabang (near Bangkok). On October 8, the NYK-operated car carrier Modern Link arrived in Hai Phong for the first call

Drewry Finds Risk of Carrier Failure Still High

Figure 1

Drewry’s Z-score carrier financial stress index sunk to its lowest ever point following the first-half 2016 results. After Hanjin’s bankruptcy shippers are demanding more financial transparency from carriers. There is still much work to be done to clean up the logistical chaos

Japan's NYK Line Warns of $1.9 bln hit to Earnings

NYK Line may book losses as shipping slump slashes asset values. Nippon Yusen, Japan's biggest shipper by sales, warned it would book a $1.9 billion hit to first-half income, after the industry's deepening slump forced it to write down the value of container ships and other assets.

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