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China's First

Chinese Yards to Build More LNG Tankers

Chinese shipbuilders are gearing up to build liquefied natural gas (LNG) tankers as the government approves more projects to import the fuel. China's first home-built LNG tanker will be completed in November by Shanghai's Hudong-Zhonghua Shipbuilding Co, which has orders for three more at about $200 million apiece. Another three Chinese shipmakers are ready to build the tankers, the most complex and expensive type of cargo carrier. Next month, China will receive its first cargo of LNG in Guangdong from Australia amid plans to double gas use by 2010 to curb coal pollution. The country is developing its domestic shipbuilding industry to secure transportation of imported raw materials for the expanding economy. China's shipyards plan to double capacity by 2010 as they compete with rivals in South Korea and Japan for market share. Shipowners spent $71.5 billion on new vessels last year, 6.3 percent less than in 2004, as record prices curbed orders for container ships, dry-bulk carriers and tankers. (Source: Bloomberg)


CNOOC Pairs with Husky to Explore Deep Water Oil

CNOOC Ltd.’s unlisted parent company plans to start deep water oil and gas exploration in the South China Sea with Canada's Husky Energy Inc. next year, according to AP report. If the scheduled exploration finds sizable reserves in a bloc in the South China Sea about 185 miles south of Hong Kong, it will be China's first deep water oil and gas field. CNOOC's parent company is currently restricted to pumping oil and gas offshore at no deeper than 350 m


ROC Navy to Have First Female Warship Captain

A young naval officer will soon become the Republic of China's first female warship captain after completing a series of stringent training and grueling tests. Naval Lt. Commander Hsieh Ai-chieh, 30, will set a precedent in the Navy of the Republic of China to lead the 500-ton domestically-developed Chinchiang-class auxiliary warship. Hsieh, growing up in central Changhua County, passed her opportunity to enter one of the top universities in 1944.


Chinese Ship Sales Legally To Taiwan

More than half a century of family division ended in hugs and tears of joy on Tuesday after the first mainland Chinese ship to sail legally to Taiwan since 1949 arrived at the heavily-fortified island of Quemoy. The China-registered Gulangyu, or Piano Island, docked to be welcomed by the sounds of gongs, drums and firecrackers, in another sign of rapprochement efforts between the long-term adversaries. Aboard the passenger ferry were 80 elderly Quemoy natives stranded on the mainland since


China Chooses Xian as Nation's First International Hub Port

China logistic network: Schematic courtesy of Xian Hinterland International Transit

Shaanxi province plans to build China's first hinterland international intermodal transit hub port to link the overland international freight route [see map] which they dub a new 'silk road', reports Xinhua. The proposed Xian Hinterland International Transit Hub Port will focus on international logistics transit business and develop itself into a strategic pivot offering services between China's east coastal and western regions.


China lends Argentina $7.5 bln for Power, Rail Projects

Argentine President Cristina Fernandez and her Chinese counterpart, Xi Jinping,

  Argentina signed deals on Friday to borrow $7.5 billion from China at a time when the Latin American country cannot tap global capital markets because of disputes over unpaid debt. Among the deals signed, Argentine President Cristina Fernandez and her Chinese counterpart, Xi Jinping, agreed on a loan for $4.7 billion from the China Development Bank for the construction of two hydroelectric dams in Patagonia


China Province Starts Taiwan Direct Shipping Route

North China's Hebei Province recently opened the first direct cargo route to Taiwan when a cargo of 36,000 tonnes of coal left Qinghuadao Port for Taiwan Direct trade routes between China & Taiwan have been frozen for a number of years. The Wuxing 6 bulk carrier left Qinghuadao Port, China's largest coal transfer port, for the Taitung and Kaohsiung ports in Taiwan, Tuesday marking the first cargo shipment between Hebei and Taiwan.


China Shipbuilding Activity Tumbles

China's shipbuilding industry faces a severe test in today's sluggish global market China's shipbuilders finished 22.53 million dead weight tons of shipbuilding orders in the first five months this year, a decrease of 10.1 percent year-on-year. New ship orders amount to 9.54 million DWT, a fall of 47.3 percent year-on-year. The total industrial output value of China's shipbuilding industry reached 240.6 billion yuan ($38


China's First LNG-powered Tugs to Have Wärtsilä Engines

Wärtsilä 34DF Engine: Photo credit Wärtsilä

Wärtsilä to supply dual fuel main engines for two environmentally sustainable tugs being built by China National Offshore Oil Corp subsidiary The tugs are being built for CNOOC Energy Technology & Services Limited (CETS), a subsidiary of the state-owned China National Offshore Oil Corp. (CNOOC). The vessels are the first in a planned series to be fuelled by liquefied natural gas (LNG), and will be the first tugs in China ever to be operated on gas


Carnival Adds Fourth Ship in China

Sapphire Princess

Carnival Corporation adds new ships in China to further expand its market, growing its capacity in China by 140 percent from 2013 - 2015. Costa Serena – set to sail out of Shanghai in April 2015 – joins Costa Victoria, Costa Atlantica and Sapphire Princess to make Carnival Corporation the first global cruise company with four ships based in China. Carnival Corporation & plc announced Costa Serena will deploy year-round in China next year


Wärtsilä to Divest its Shares in Two-stroke JV

Wärtsilä to divest its shares in QMD two-stroke joint venture Wärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co. Ltd. (QMD), the joint venture company established for manufacturing large low-speed marine


More VDR Orders for Danelec in China

Danelec Marine has received orders to supply Voyage Data Recorders (VDRs) and Electronic Chart Display and Information Systems (ECDIS) for 18 offshore support vessels in China. The orders were taken by Danelec’s distributor Xiamen Huayi for ships under construction at a shipyard in Fujian


China Issues New Rules on US DDG Imports

China's Import Inspection Authority, AQSIQ, is now requiring U.S. distiller's dried grains imports to be officially certified free of the MIR 162 GMO trait, the U.S. Grains Council, an export trade group, said in a letter emailed to Reuters by a trade source.


GAC North America Passes the Helm to Schensema

Claus Schensema: Photo GAC

GAC says it  has moved Claus Schensema to Houston, Texas, where he will take up the post of Managing Director of GAC North America Logistics. Schensema brings 25 years’ experience in shipping and logistics to his new role as GAC North America Logistics’ Managing Director


Good Profitability Noted in Wärtsilä H1 Interim Report

Wärtsilä 46DF Engine: Image courtesy of the manufacturers

Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014 Order intake decreased 5% to EUR 2,305 million (2


Manila Urges Unity in China Sea Dispute

The Philippines is pushing for a meeting among four Southeast Asian nations with conflicting claims to waters in the South China Sea so that they can hammer out a common stand in dealings with China, Manila's foreign minister said on Friday.


Typhoon Slams into Southern China, One Dead

A super typhoon slammed into China on Friday killing one person, as the government ordered an all-out effort to prevent loss of life from a storm that has already killed at least 64 people in the Philippines. Typhoon Rammasun, with winds of up to 180 kph (112 mph)


Kongsberg Tech Chosen for 13 Newbuild Projects

KM_Full_PIcture_July14.jpg

Kongsberg Maritime’s Full Picture solution has been selected by Chinese and Korean shipbuilders for 13 advanced newbuild offshore vessels with a total value of 330 MNOK. Dalian Shipbuilding Industry Offshore Co. (DSIC), CIMC Raffles (CIMC)


Citi Has $280m Tied into China Ports at Center of Metals Probe

Citigroup Inc has about $280 million in loans tied to commodities in two Chinese ports which are at the center of a probe into possible fraud, a senior executive said on Friday, becoming the first U.S. bank to disclose its potential exposure.


Containership Consortia Set for Further Expansion: Analyst

Vessels Sailing from Asia to Europe also carry cargo for many other destinations: Map DMR

The formation of 2M is only the conclusion of the latest round of mega-alliance negotiations. Much more lies ahead, considers Drewry Maritime Research in their latest 'Container Insight' analysis, excerpted here: Ocean carriers are clearly not yet done with mega-alliance expansion following


Wärtsilä and CSSC in 2-stroke engine JV

Wärtsilä game-changing 2-stroke dual-fuel engine technology

  Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture, which will take over Wärtsilä’s 2-stroke engine business. Through the agreement, CSSC will own 70% of the business through its affiliate CSSC Investment


ICBC Financial Leasing Purchase 2 CIMC Raffles Drilling Rigs

CIMC Raffles Semisubmersible Drilling Rigs

ICBC Financial Leasing Company Limited signed a leasing project with Schahin of two ultra-deepwater drilling rigs during China-Brazil Business Council-Annual Meeting 2014 on 17th July 2014. The contract values $1.08bn and eventually serves for Petrobras


Wärtsilä's JV with CSSC to Expands Engines Range

  Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines. The CSSC Wärtsilä Engine (Shanghai) Co


Second Typhoon Threatens Taiwan

The Taiwan military was collecting and distributing sandbags to guard against possible flooding on Tuesday as a typhoon bore down on the island after brushing the Philippines. Typhoon Matmo, a category-two cyclone on Tropical Storm Risk's scale of one to five


Global Ocean Trade: Latest Shipbuilding Orders

Bulk carrier bow: File photo

No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders. Dry bulk carriers Foremost Maritime are understood by Clarkson Hellas to have added a further four 180






 
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