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Carrier Order

Hyundai Heavy $600M Order for LNG Carriers

* Photo: Abdelkader, LNG Carrier Hyundai Heavy built and selected as one of the world’s best ships in 2010.

Hyundai Heavy Industries, the world’s largest shipbuilder, won a $600 million order to build two 155,000 m3 LNG carriers, including an option for another same class vessel, from Greece-based Dynagas Ltd. These membrane-type LNG carriers are due for delivery in the second half of 2013. They will feature the Dual Fuel Diesel Engine System which allows the ship to run on oil fuel or natural gas. Due to tightening global regulations on carbon emissions, increasing demand for LNG as an alternative energy source after Japanese nuclear crisis, and price competitiveness of LNG in comparison with oil prices, Hyundai Heavy expects to see more liquefied natural gas carrier orders in the future. As a part of the Company’s long term strategy for the expected increase in demand for LNG carriers and LNG FPSOs, Hyundai Heavy has been actively developing a special welding system that can work on the thick aluminum plates used for the LNG tanks. Winning this order brings Hyundai Heavy’s total new orders in shipbuilding and offshore & engineering divisions so far this year to 42 ships worth of USD 10.5 billion, or 53% of the new order target of USD 19.8 billion. Source: HHI


Bergesen Makes Preliminary LNG Agreement

Bergesen has entered into a preliminary agreement with the Algerian oil company Sonatrach for employment of one LNG-carrier for minimum 20 years from delivery. Sonatrach has an option to extend the agreement by maximum five years. The vessel is the third vessel in a series of seven large LNG-carriers ordered by Bergesen at Daewoo Shipbuilding & Marine Engineering Co. Ltd, Korea. The vessel shall be delivered in third quarter 2004.


Daewoo's Financials Come Full Circle

A flood of LNG carrier orders and dollar-denominated payments skewed towards delivery have helped South Korea's Daewoo shipyard, (now known as the world's second largest shipbuilder) still under workout, craft one of the country's most dramatic corporate turnarounds. "It is like dreaming a really good dream," said a high level official at Daewoo Shipbuilding. "We are now nearly monopolizing the global market for LNG carriers and benefiting from the recent weak won better than our rivals


EU Monitors Market

No improvement in the market and no change in the behaviour of South Korean yards, says fifth Commission report on world shipbuilding The world shipbuilding market continues to face serious difficulties, while certain South Korean yards are still pricing ships below cost, notes the European Commission's latest (fifth) report on world shipbuilding, adopted today. World ship prices are still being depressed by excess supply, due to past expansion of yards mainly in Korea


Latest Global Shipbuilding Orders

With the newbuilding market remaining quiet towards the end of August, Clarkson Hellas S+P Weekly Bulletin reports a limited number of dry bulk carrier orders in the Capesize sector, with few orders in other sectors as follows: Rizhao Steel (Cara Shipping) are understood by Clarkson Hellas to have contracted two firm 180,000 DWT Capesize at both Dalian and Qingdao Beihai, with an additional two options at the latter


DSME Rolls Out World's Largest Containership

 Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has named the MSC Oscar, which has claimed the title of the world’s biggest containership. After the christening ceremony the MSC Oscar departed for Busan. The vessel has a capacity of 19,224 containers, and is the equivalent of four football stadiums in length with the nominal capacity of 19,224 TEU. The prestigious title has been taken over from China Shipping’s CSCL Globe, boasting 19,100 teu


OSG To Build Four Tankers

Overseas Shipholding Group, Inc. will build four, 114,000 dwt 44-meterbeam Aframax tankers at the New Times Shipbuilding Co., Ltd. shipyard based in Jinjiang, China. The vessels, scheduled for delivery in 2008 and 2009, will increase OSG's Aframax fleet to 21 tankers serving customers in the Atlantic basin, and will operate in the Aframax International (AI) pool. The tankers will be built using the new Common Structural Rules (CSR) recently established by IACS for all tankers and


MHI : Landmark LNG Carrier Shipbuild Contract

Photo: MHI

On May 17, 2013, Mitsubishi Heavy Industries Ltd. (MHI) will sign an agreement with Mitsui O.S.K. Lines Ltd. (MOL) to build a Sayaendo series new-generation liquefied natural gas (LNG) carrier. Sayaendo series ships feature a unique structure that integrates the LNG tank cover with the ship hull, resulting in significantly improved fuel consumption and maintainability. From 2020 the new ship will be used mainly for transportation of LNG produced by the Ichthys LNG Project in Australia for


Rolls-Royce to Design, Power Fish Carrier

Photo: Rolls-Royce

Rolls-Royce announced today that it has signed a contract for the delivery of design and equipment for a live fish carrier, to be built at the Tersan shipyard in Turkey for Faroese ship owner Bakkafrost. The contract is worth approximately £5.8 million to Rolls-Royce. The vessel is a Rolls-Royce design, type NVC 386, featuring the characteristic wave-piercing bow designed to cut through waves in rough seas, making it possible to keep a more constant speed


ABS to Class the World's First CNG Ship

ABS Chairman and CEO Christopher J. Wiernicki

ABS announced it has been chosen to class the world's first compressed natural gas (CNG) carrier ordered by Pelayaran Bahtera Adhiguna, a subsidiary of Indonesia's state-owned power company Perusahaan Listrik Negara (PT PLN). The award for the precedent-setting ship, to be built at Qingdao Wuchuan Heavy Industry's shipyard in northern China, is the latest example of ABS' leadership in the gas ship sector, where the largest share of LNG ships is presently being built to its classification


Oil Prices Should Not Impact Dual-fuel LNG Carriers

Joe McGladdery (Photo courtesy: Wikborg Rein & Co, )

Joe McGladdery, a partner with the London law offices of Wikborg Rein & Co, says that, while falling oil prices have exerted pressure on the LNG charter markets, the new generation of low-speed, dual-fuel LNG carriers now in service and on order remain an attractive option for owners and


Wikborg Rein & Co: Oil Prices Won't Impact Dual-Fuel LNG Carriers

   Joe McGladdery (Photo courtesy of Wikborg Rein & Co)

Joe McGladdery, a partner with the London law offices of Wikborg Rein & Co, says that, while falling oil prices have exerted pressure on the LNG charter markets, the new generation of low-speed, dual-fuel LNG carriers now in service and on order remain an attractive option for owners and


Petronas, HHI Novation Agreement with MISC

LNG Ship Puteri Firus (Image by MISC Bhd )

 Malaysia’s MISC Bhd and parent Petroliam Nasional Bhd (Petronas) have agreed to build new liquefied natural gas (LNG) carriers worth US$1.1 billion and charter them to another unit owned by the national oil and gas company for up to 20 years.   


MAN Diesel & Turbo Reports ME-GI Milestones

ME-GI engine (Image: MAN Diesel & Turbo)

100 Orders received for ME-GI; second ME-GI engine dispatched by engine builder after successful Factory Acceptance Testing   MAN Diesel & Turbo reports that its ME-GI engine has now received more than 100 orders. FLEX LNG announced on February 2 that two-stroke slow-speed ME-GI main


Sovcomflot, RS Partner to Bolster Russian Fleet

Sovcomflot (SCF Group) and Russian Maritime Register of Shipping (RS) have taken steps to make the Russian fleet more competitive.    In 2014, 10 SCF Group vessels were transferred to the RS class, meaning that it is now responsible for the survey of 40 Sovcomflot ships in total


Daewoo Shipbuilding Bags Order for LNG Carrier

Image: Daewoo Shipbuilding & Marine Engineering

Daewoo Shipbuilding & Marine Engineering, the world’s second-largest shipbuilder, signed a $100 million contract to build an LNG carrier. It has now signed five deals this year, worth about $1 billion in total. The company declined to reveal the name of its partner.


Wärtsilä's Propulsion For First CNG Carrier

Wärtsilä 34DF engine

  The world's first ever carrier vessel for compressed natural gas (CNG) is to be powered by an integrated Wärtsilä propulsion system, chosen for its energy efficiency and environmental sustainability. The vessel is being built at the Jiangsu Hantong shipyard in China ordered by


Shipping Rates Drop as China Cuts Coal Need

Pic: Nippon Yusen Kaisha

Shipping costs plunged to almost the lowest on record following tumbling demand for coal in China and weakening growth in the nation’s iron ore purchases, reports Bloomberg.  The Baltic Dry Index, which tracks freight rates for ships carrying raw materials


UASC Expands in South America

Extension of relationship with local agency partner, Ultramar, marks next phase of UASC’s growing presence in South America

  United Arab Shipping Company (UASC), a leading container shipping line and emerging global carrier, has today appointed The Ultramar Group as its local liner shipping agency partner in Brazil, Argentina and Uruguay. This appointment is the latest milestone in UASC’s expanding


GTT Bags Order for 6 New LNGCs

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has placed an order with Gaztransport & Technigaz (GTT), designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG)


Wärtsilä DF Engines for Icebreaking LNG Carriers

Yamal

  Five new Arc 7 design ice-class LNG carriers being built at the Daewoo Shipbuilding and Marine Engineering (DSME) yard in South Korea will be powered by a total of 30 Wärtsilä 50DF dual-fuel engines. The vessels will operate in arctic conditions to serve the Yamal LNG project in


Kalmar Bags Virginia Port Order for Shuttle Carriers

Kalmar hybrid shuttle carriers  Photo Courtesy Kalmar

  Kalmar, part of Cargotec, has gained an order for three Kalmar hybrid shuttle carriers from the Port of Virginia, a multi-terminal container and breakbulk cargo complex located in Virginia, 18 miles from the Atlantic Ocean. The 1-over-1 hybrid shuttle carriers will be dedicated to


Great Eastern Shipping to Sell Large Cargo Ship

Picture: Great Eastern Shipping Company Ltd

 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)


Yangzijiang Diversifies into LNG Vessel Buildiing

Courtesy Yangzijiang Shipbuilding (Holdings) Limited

Yangzijiang Shipbuilding (Holdings) Limited “Yangzijiang” or “the Group”  one of PRC’s leading and most enterprising shipbuilder listed on the SGX Main Board, is pleased to announce that the Group has secured new shipbuilding orders from JHW Engineering &


TS Lines Seeks to Restart Shipbuilding Plan

webtslines.jpg

T.S. Lines, Taiwan's fourth largest container carrier, is seeking to restart its dormant shipbuilding plan in 2015, the company announced Monday. In 2011, the company suspended a plan to order four 1,800 teu and four 4,700 teu box ships due to the  belief that new building prices would






 
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