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Third 14,000 TEU Container Joins Seaspan

Image: Seaspan Corporation

 Hong Kong-based owner and operator of containerships Seaspan Corporation has taken delivery of a 14,000 TEU containership, the YM Winner.   The new ship, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan’s third 14,000 TEU SAVER design containership and fourth delivery in 2015.   The YM Winner will commence a ten-year, fixed-rate time charter with Yang Ming Marine Transport Corp.   The ship is the third of a total of eight 14000 TEU SAVER design vessels to be chartered by Seaspan to Yang Ming. The delivery of the YM Winner expands the Company's operating fleet to 81 vessels.   Seaspan provides many of the world's major shipping lines with creative outsourcing alternatives to vessel ownership by offering long-term leases on large, modern containerships combined with industry leading ship management services.    Seaspan's managed fleet consists of 118 containerships representing a total capacity of over 935,000 TEU, including 27 newbuilding containerships on order scheduled for delivery to Seaspan and third parties by the end of 2017.    Seaspan's current operating fleet of 81 vessels has an average age of approximately seven years and an average remaining lease period of approximately five years.  

Hyundai Heavy Wins US$ 1.2-billion Order

Hyundai Heavy Industries wins a USD 1.2 billion order to build ten 13,800 TEU containerships for a Greek shipowner The containerships, measuring 368 m in length, 51 m in width, and 29.9 m in depth, are scheduled to be delivered from the second half of 2013 to the second half of 2014. The vessels will use 10% less fuel compared to existing similar class containerships. Since LNG carriers, drillships and semi-submersible drilling rigs have been the bright spot of the global shipbuilding

HMD Holds Naming Ceremony for Containership

Hyundai Mipo Dockyard held a naming ceremony for a 4300 TEU Class Containership, Hull No. 0408, the first of five 4300 TEU Panamax containerships ordered by E.R. Schiffahrt GmbH & CIE. KG of Germany. This containership was named Ital Mattina Mattina by the ship owner. Senior Executive Vice President of HMD, Kim Choon-gon, and many representatives of E.R. Shiffahrt attended the ceremony. On June 25th there was another naming ceremony for Hull No. 0320

Danaos Adds Containership

Danaos Corporation Adds One More 8,530 TEU Containership to its Fleet.   Danaos Corporation, an international owner of containerships, announced that on October 26, 2011, it took delivery of one more newly built containership, the CMA CGM BIANCA, expanding its operational fleet to a total of 58 containerships aggregating 282,619 TEU. The CMA CGM BIANCA, built at Shanghai Jiangnan Changxing Heavy Industry, has a carrying capacity of 8,530 TEU, is 335 meters long, 42

Hyundai Heavy to Build World’s Largest Containerships

hyundai heavy logo.jpg

Hyundai Heavy Industries (HHI) announced the Company won a $700 million order for five 18,400 TEU containerships from China Shipping Container Lines (Hong Kong) Co., Ltd. The world’s largest containerships will feature an electronically-controlled main engine and two EcoBallast seawater treatment system. The electronically-controlled main engine will maximize fuel efficiency, and reduce noise, vibrations, and carbon emissions by automatically controlling fuel consumption to suit

Diana Shipping Invests in Diana Containerships

diana shipping logo.png

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that it has entered into an agreement to purchase shares of the common stock of Diana Containerships Inc. for an aggregate purchase price of $40 million. Concurrently with the company's investment, two institutional investors not affiliated with the company or Diana Containerships together purchased $40 million of common shares, and Simeon Palios

Danaos Adds 8,530 TEU Containership

Danaos Corporation (NYSE: DAC) on August 22, 2011 took delivery of a new containership, the CMA CGM TANCREDI, expanding its operational fleet to a total of 57 containerships aggregating 274,089 TEU. The CMA CGM TANCREDI, built at Shanghai Jiangnan Changxing Heavy Industry has a carrying capacity of 8,530 TEU, is 335 meters long, 42.8 meters wide and has a speed of 25.80 knots. The CMA CGM TANCREDI has commenced its 12-year time charter at a fixed charter rate immediately upon delivery

Diana Containerships Sells Panamax Ship

Diana Containerships Inc. sells Panamax containership, the m/v Cap Domingo   Diana Containerships Inc. today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2001-built vessel m/v Cap Domingo, with delivery due to the buyer by mid-March 2016, for a gross sale price of $24,250,000.   The closing of this transaction is subject to buyer’s board of directors’ approval not later

Seaspan Acquires Sixth 14000 TEU Boxship

SEASPAN Spanning the Ocean Highways

  Seaspan Corporation  announced today that it accepted delivery of a 14000 TEU containership, the YM Warmth. The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's sixth 14000 TEU SAVER design containership and eighth delivery in 2015. The YM Warmth will commence a ten-year, fixed-rate time charter with Yang Ming Marine Transport Corp. ("Yang Ming"). Yang Ming may extend the charter for up to an additional two years

ABS Launches Guide for Container Shippers

Image: ABS

Class Society builds on long history of developing tools to drive optimization, compliance and safety in the containership sector. ABS released two new tools specifically focused on assisting the containership sector with pressing operational challenges. The Guide for Certification of Container Securing Systems (Container Securing Guide), along with its companion software, and the Guide for Fire-Fighting Systems for On-Deck Cargo Areas of Container Carriers (FOC Guide) each represent

Construction Set to Start on Jacksonville LNG Facility

JAX LNG said it has executed the remaining engineering and procurement contracts required to begin construction of a new liquefied natural gas (LNG) liquefaction and storage facility at Dames Point near the Port of Jacksonville.   The JAX LNG liquefaction facility is expected to be

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

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

Panamax Containerships: Is the Battle Now Lost?

Graph: Clarksons Research

 In the containership market today, Panamax sector, the charter rates rest at rock-bottom rates and the fleet is in steady and perhaps terminal decline, with scrapping at record levels. Is the battle now lost? A report by Clarksons Research.  

Seaspan Starts Fixed-rate Charter with Maersk Line

Courtesy Seaspan

Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 10000 TEU containership, the Maersk Genoa. The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd., is Seaspan's eleventh 10000 TEU SAVER design containership and fifth delivery in 2016

Perishable Reefer Trade Growth to Remain Strong

Graph: Drewry Shipping Consultants Limited

 Despite many adversities for the maritime sector over the last year, seaborne perishable reefer trade increased in 2015 – and is forecast to grow further still in 2016.    By 2020, seaborne reefer cargo will reach a staggering 120 million tonnes – increasing by an

Diana Shipping Amends Loan Agreement to Diana Containerships

Photo: Diana Shipping Inc

 Diana Shipping Inc.  has amended its existing loan agreement to a wholly-owned subsidiary of Diana Containerships to defer some payments under a new schedule.   Diana Containerships Inc. is a former wholly-owned subsidiary of the Company

Rickmers Maritime to Restructure Debt

Singapore-listed Rickmers Maritime, which owns and operates containerships, said on Thursday it was seeking noteholders' support to restructure debt worth S$100 million ($73.21 million) in a bid to avoid potential liquidation. The business trust also said it was unable to repay $179

IUMI: Containership Fires Need Study

(Photo: Greg Trauthwein)

Two recent onboard containership fires have fueled concerns from IUMI (International Union of Marine Insurance) over the challenges involved with managing these incidents at sea.   "At sea, below-deck fires cannot be fought with water and so CO₂ is used instead to displace the oxygen

Hapag-Lloyd orders 5,750 state-of-the-art Reefers

Photo by Hapag-Lloyd

With delivery beginning in October 2016, the new order strengthens market position in the transport of temperature-sensitive goods / Tests with new refrigeration equipment and natural refrigerants.   Hapag-Lloyd will also be investing in its container fleet this year: The liner shipping

Cadets Stranded on Hanjin Ship Head Home

Hanjin Louisiana (Photo: Nautilus)

The Hanjin Louisiana, one of the containerships caught up in the collapse of the South Korean shipping company Hanjin, has finally docked in Singapore after several weeks of uncertainty at sea.   Among those onboard the containership were four Scottish cadets

NYK Steams Ahead

(Photo: NYK)

Tokyo-based Nippon Yusen Kaisha (NYK) Group is not only one of the world’s largest ship owners with a diverse fleet of more than 800 ships, it is a growing global maritime logistics powerhouse. Maritime Reporter & Engineering News visited with Yasuo Tanaka

Is Container Shipping World Shrinking?

Photo: Hanjin Shipping

 Drewry says that the container shipping world is shrinking as M&A and carrier failures increase. Is reduced competition the real cost of low rates?   The container shipping world is getting smaller. Hanjin Shipping may continue as a regional Intra-Asia carrier if its survival plan

Hapag-Lloyd Invests in its Reefer Fleet

Photo: Hapag-Lloyd

Announcing further investment in container fleet, liner shipping company Hapag-Lloyd has ordered a total of 5,750 refrigerated containers (reefers) of the latest generation – including 5,000 x 40-foot and 750 x 20-foot units. In addition, 1

Can Shipping Keep Its Big Break Going?

Graph: Clarksons Research

In today’s conditions, the shipping industry needs supply-side re-positioning to help the markets back to improved health, and increased recycling in recent years has been a clear part of this, says Clarksons Research.   However, there’s still some way to go to better times

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