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Fleet Expansion

Boskalis Orders Two Trailing Suction Hopper Dredgers

Dredging concern Royal Boskalis Westminster nv has placed an order with shipyard IHC Holland for the construction of two innovative 12,000m³ hoppers. The order is part of the multi-year fleet expansion program at Boskalis. The ships will be completed in December 2009 and April 2011. The order involves an investment of more than € 200 million. The new ships stand out because of the use of innovative technologies, strengthening the Boskalis market position in the segment for ‘large trailing suction hopper dredgers’. They will have two separate hoppers, allowing for the optimal use of their capacity in all circumstances, including shallow waters. In addition, the pumping capacity on the vessels is high, allowing them to pump large volumes over longer distances. This means that they can be used in a wide range of projects throughout the world, for both large-scale land reclamation and the construction of ports and waterways. Boskalis has a modern fleet with trend-setting ships, a broad geographical spread, and activities in all market segments. The company has a multi-year fleet expansion program that will strengthen its position on a global market that is growing rapidly. The program involves a total investment of approximately € 850 million and includes the construction of four hoppers with capacities varying from 5,600m³ to 12,000m³, the lengthening of the Queen of the Netherlands into a mega hopper of 35,500m³ and the construction of jumbo cutter Phoenix


Nordic American Tankers Ltd. - Declaration of Dividend

Nordic American Tankers Ltd. announced that its Board of Directors has declared a dividend of $0.16 for the first quarter of 2013, the same as for the 4th quarter of 2012.   The level of the declared dividend should be seen in the context of planned fleet expansion. Expansion is essentially the same as investing in the future. However, also yield is a priority as demonstrated by this payment of dividend for the 63rd consecutive quarter since the autumn of 1997.


Bocimar Set for Fleet Expansion

CMB confirms that its subsidiary Bocimar International has sold its Handymax vessel CMB Talent (2001 – 52,403 dwt). The vessel is sold time charter attached, expiring at the end of 2008. The net sale price amounts to USD 53 million. At the time of delivery of the vessel, scheduled to take place at the end of November 2007, a capital gain of approximately $36m will be realized. Further, Bocimar has ordered 10 Handysize bulk vessels (33,500 dwt) from Samjin Corporation (Korea)


Costa Deliziosa Completes Her Technical Launch

Costa-Luminosa_Costa-Delizi.jpg

Costa Cruises, Italian tourism group and European cruise company, and Fincantieri celebrated the technical launch of the Costa Deliziosa at the Marghera yards: the first time the ship touched the sea flooding the dry-dock where she is under construction. The Costa Deliziosa, the 15th ship of Costa’s fleet with a total tonnage of 92,700 and a capacity of 2,828 passengers, is scheduled to be delivered at the end of January 2010, after completing the interior fitting out operations


LQT Delivers Accommodation Facility and Helideck in Gulf of Mexico

LQT Industries , a full-service provider of accommodation facilities, design-build construction services, and support services to the oil and gas industry, has engineered and built a new series of aluminum accommodation buildings that will be utilized by a major oil and gas operator on a platform in the Gulf of Mexico. The buildings are 10’W x 35’L and weigh only 16,000 pounds. These newly built buildings


Seacontractors Milestone with Three Damen Workboats

Stan Tug 3011

Customized vessels demonstrate capabilities in demanding global markets. Seacontractors has expanded its workboat fleet with three new orders at Damen Shipyards Group, including the maritime services provider’s ninth vessel from the Shoalbuster range, a Damen Shoalbuster 3209. In addition, Seacontractors’ order for two Stan Tugs makes it the launching customer for the new 70-tonne bollard pull STu 3011 design


Stelmar Announces Time Charter Contract

Stelmar Shipping Ltd. announced that it has renewed the Rimar, a 1998 double hull product tanker, on a six-month time charter contract for $13,500 per day. Peter R. Goodfellow, Chief Executive Officer and President commented, "In 2002, we have signed or renewed profitable time contracts for all seven tankers that have come off contract. We have also been able to sign new profitable time charter contracts for another two tankers that had been operating in the spot market


Star Bulk Acquires Bulk Carrier

Star Bulk Carriers Corp. has entered into a definitive agreement to acquire a Capesize bulk carrier of approx. 180,000 dwt, built in 1991 in Japan, for approximately $83.7 million from Japanese interests. The vessel will be financed through a combination of company cash and bank debt. The vessel to be renamed the M/V Star Sigma, is scheduled to be delivered to Star Bulk within April/May 2008. It comes with a one-year time charter back to its present owners which will commence on the day of


IRISL Looks West with New Vessels

Image: Islamic Republic of Iran Shipping Lines

 The Islamic Republic of Iran Shipping Lines (IRISL) plans to become one of the world's top ten shipping lines. It plans to modernize its fleet and ally with international shipping majors to tap western markets , reports WSJ.   Mohammad Saeidi, chairman of IRISL said that his company is planning a massive fleet expansion. It aims to re-enter western markets as Tehran exits a long period of sanctions that barred its vessels from calling at European and U.S


VT Halter Delivers ATB Tug for Bouchard

M/V Frederick E. Bouchard, a 6,000hp Twin Screw ATB tug, during sea trials (Photo: VT Halter Marine)

VT Halter Marine, Inc. has delivered the 6,000hp Twin Screw Articulated (ATB) tug, MV Frederick E. Bouchard, to owner Bouchard Transportation Co., Inc. at the shipbuilder’s facilities in Pascagoula, Miss. on Wednesday, June 8, 2016.   The delivery, which culminates a two-vessel contract awarded by Bouchard Transportation to VT Halter Marine in August 2014, follows the delivery of the contract’s first vessel, MV Morton S. Bouchard Jr., on February 1, 2016


Fleet Growth: Private Trends And Public Developments

Graph: Clarksons Research

 According to Clarksons Research, the world fleet has experienced a sustained period of growth during the last decade, with owners based in the Asia/Pacific region responsible for the largest share of this expansion.    However, since the start of 2014


Nordic American Tankers Expands Suezmax Fleet

Nordic American Tankers Limited (NAT) has taken delivery of Suezmax tanker Nordic Luna, the first of four secondhand sister vessels purchased as part of the company’s plans for fleet expansion.   The second vessel is expected to join the NAT fleet in mid-June


Fincantieri Cuts Steel for Seabourn Ovation

Seaburn Ovation  an ultra-luxury vessels which Fincantieri is currently building Courtesy Fincantieri

A steel cutting ceremony for Seabourn Ovation, the second of two ultra-luxury vessels which Fincantieri is currently building for the shipowner Seabourn, a brand of Carnival Corporation, was held June 7 at the shipyard in Sestri Ponente, Genoa.  


Global Fleet Growth: A More Mature Trend?

Graph: Clarksons Research

 The supply of ships into the fleet is a key determinant of vessel earnings across the shipping sectors, and world fleet growth is closely followed by everyone in the maritime industry, says Clarksons Research.   In recent years the overall pace of growth of the world fleet appears to


IRISL Readies for Europe

Dr. Mohammad Saeidi. Photo by IRISL

 The Islamic Republic of Iran Shipping Lines (IRISL) is seeking to open bureaus across Europe, says its Managing-Director Dr. Mohammad Saeidi.   IRNA reports Saeidi as saying that once the arbitrary sanctions on Iran are lifted, Iranian-flagged ships can travel between Iranian and


Bouchard's Newest ATB Christened in New Orleans

Photo: Bouchard Transportation Co.

Bouchard Transportation Co. celebrated the naming of the M/V Donna J. Bouchard and the B. No. 272 at the christening ceremony held on Thursday, February 18 in New Orleans.   The ceremony began with remarks from Bouchard Transportation Co., Inc. President/CEO, Morton S


Can Bulkcarrier Supply Cuts Restore Some Balance?

Graph: Clarksons Research

 Clarksons Research says that the easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% in 2010 to just over 2% in 2015.    In the short-term


Genting Hong Kong Acquires Nordic Yards

Photo: Nordic Yards Wismar GmbH

 Cruise ship operator Genting Hong Kong Ltd is buying three shipyards in Wismar, Warnemünde and Stralsund respectively owned by German shipbuilding company Nordic Yards for $358 million to further enable its presence in the sector.    


Dry Bulk Demolition in a Tough Place

Graph: Clarksons Research

 Clarksons Research says that the dry bulk markets are in a tough place at the moment and owners have responded by selling more, and younger, vessels for demolition. But just how tough have they been so far, and how tough might they get?  


Shrinking Violets Amidst Global Fleet’s Flower Power

Graph: Clarksons Research

 Clarksons Research says that in many instances the shipping industry is all about growth, with trade volumes expanding along with the world economy and fleet capacity growing too.    However, that’s not exclusively the case


Scorpio Cancels Kamsarmax Newbuilding Contract

Photo:  Scorpio Bulkers Inc

 Scorpio Bulkers has continued to cull its fleet expansion with the cancellation of a newbuilding contract for a kamsarmax bulk carrier.   US-listed bulker owner set to save $19.3m final installment costs after walking away from order


SeaZip Continues Fleet Expansion

SeaZip 6  (Photo: Damen Shipyards)

In a celebratory atmosphere, marking the sustained growth of its fleet, SeaZip Offshore Services has taken delivery of two Damen Fast Crew Suppliers (FCS) 2610. Continuing the company’s vessel-naming trend, the new additions will be known as SeaZip 5 and SeaZip 6


VT Halter Launches Tug for Bouchard

Frederick E Bouchard launch Photo Courtesy VT Halter Marine

VT Halter Marine, Inc. (VT Halter Marine), a company of Vision Technologies Systems, Inc. (VT Systems), announces the launch of the M/V Frederick E. Bouchard, at its Moss Point Marine Shipyard Facility in Escatawpa, Mississippi on Thursday, March 31, 2016. M/V Frederick E


Container Equipment Prices Nosedive - Drewry

Container newbuilding prices (US$) Source Drewry Maritime Research

Prices for new dry freight containers declined to their lowest point since 2002 during first-quarter 2016 and are still going down, according to the latest edition of the Container Equipment Insight, published by global shipping consultancy Drewry.


Vane Bros. Continues Fleet Expansion

Hudson (Photo: Vane Brothers)

Vane Brothers, a marine transportation provider headquartered in Baltimore, has added two vessels to its fleet: the 4,200-horsepower tugboat Hudson and 55,000‐barrel barge Double Skin 601.   The Hudson is the second of eight vessels in Vane’s Elizabeth Anne Class of 4






 
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