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Newbuilding Contract

Golar LNG Signs Newbuilding Contract with DSME

The Board of Golar LNG Ltd. has confirmed that it has now signed a newbuilding contract with the Korean shipbuilder DSME for one 145,000 m3 LNG newbuilding for delivery in end of 2005 / alternatively beginning of 2006. Included in the contract is an option for up to two more newbuildings with delivery in 2006/2007 to be declared at a later stage. Chairman John Fredriksen says in a comment: "The strong market recovery in the drybulk, container and tanker sectors has put pressure on yard capacity. In this situation it has been important for Golar to secure the future growth of our company. The combination of the attractive contract price, fixed earlier this year, and the additional option package makes this deal into a very favourable contract for Golar. It is Golar's intention to work with employment opportunities where the strategic value of Golar's four uncommitted newbuildings can be maximized as a package. Such deals can include time critical infrastructure projects like the Italian Livorno project or other LNG chain projects managed by major LNG receivers/producers. Until such projects can be realized the Board is prepared to trade the vessels in the spot / short-term market. The spot market presently represents in excess of 10% of all trades in the LNG market and is expected to grow significantly."


Exmar Signs for Two Large Gas Carriers

EXMAR has signed a newbuilding contract for 2 Very Large Gas Carriers at Daewoo Shipbuilding and Marine Engineering Co. of South Korea. The newbuildings will have a capacity of 84,000 m³ and the first vessel will be delivered in the 1st half of 2008. EXMAR currently controls a combined fleet of 60 gas carriers servicing the entire gas product range worldwide.


Ardmore Contracted for Chemical Tanker Newbuilds

Ardmore Shipping Corporation announced that it has been contracted for the construction of four 25,000 Dwt IMO 2 eco-design product and chemical tankers ordered from Fukuoka Shipbuilding Co. Ltd., Japan (Fukuoka) for a total price of approximately $118 million. As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels. Ardmore expects to take delivery of the contracted vessels between fourth quarter 2014 and fourth quarter 2015


Scorpio Bulkers Modifies Shipbuilding Contracts

Scorpio Bulkers Inc. has reached agreements with a shipyard in South Korea to modify existing newbuilding contracts for three Capesize Vessels, the company announced today.   The three contracts, two for vessels scheduled for delivery within the first quarter of 2016 and one for a vessel scheduled for delivery within the second quarter of 2016, will now provide for the construction of three LR1 product tankers, two of which will be scheduled for delivery within the second quarter of


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. The vessel had been scheduled for delivery in April 2016.   The shipowner informed it had reached agreement with as shipyard to cancel a kamsarmax newbuilding, which had been due for delivery this month.  


Pioneer Marine Sink Deeper into the Red

Photo Pioneer Marine Inc.

Pioneer Marine Inc. and its subsidiaries (OSLO-OTC: PNRM) ("Pioneer Marine," or the "Company") a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the first quarter ended March 31, 2016. Financial Highlights: For the first quarter of 2016 the Company reported a net loss of $13.9 million, or $0.46 basic and diluted per share which includes charges amounting to $8


Seaspan on Container Ship Buying Spree

Seaspan Corporation orders 4 newbuild 10,000 TEU container ships and, buys 4 second-hand 4,600 TEU ones. Seaspan has signed contracts for the construction of four 10,000 TEU class newbuilding containerships, at Jiangsu New Yangzi Shipbuilding Co., Ltd. and Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd.  in China. The vessels are scheduled for delivery in 2014 and will be constructed using Seaspan's fuel efficient SAVER design


Bergen Group Sells off Shipbuilding Shares

Photo: Bergen Group

Bergen Group ASA announced it has signed an agreement with Calexco S.a.r.l. regarding sale of the remaining 30 % shares in NorYards AS for a price of $4 million. The completion of the transaction is expected to take place by end of August 2014, thus facilitating the group’s departure from its shipbuilding interests. The sale of the minority ownership in NorYards AS (former Bergen Group's Shipbuilding Division) will generate an accounting loss to be incorporated in the Bergen


Scorpio Delays Deliveries, Terminates Charter Contracts

Courtesy Scorpio Bulkers

Scorpio Bulkers, Inc. announced today that it has agreed in principle to delay scheduled vessels deliveries and terminated the time charter contracts for four vessels. The delivery Delays and Changes in the Newbuilding Contracts was in respect of Certain Vessels Under Construction The agreements has been reached with shipyards to delay the delivery of two Ultramax vessels and six Kamsarmax vessels under construction by approximately six months each


Pioneer Marine Cancels Drybulk Newbuildings

Pioneer Marine Inc., a shipowner and global drybulk handysize transportation service provider, has terminated the last two newbuilding contracts for Green Dolphin 38,400 dwt Handysize vessels following mutual agreement with Yangzhou Guoyu Shipyard. The instalments paid in relation with these contracts including interest will be paid back by the refund guarantor. In a release, Pankaj Khanna, CEO of Pioneer, said “Following the termination of the last two newbuildings we have eliminated


A Mixed Picture For China’s State Yards?

Graph: Clarkson Research

 The shipbuilding groups CSSC and CSIC are well known state-owned builders, but there are also other yards backed by either the Chinese central government or local governments that form part of the government-backed shipbuilding sector in China, says Clarksons Research.  


Nauta Bags Two Fishing Vessel Orders

Image: Nauta

Nauta Shiprepair Yard in Poland has signed two contracts in recent days for building partially outfitted fishing trawlers for its Danish client Karstensens Skibsvaerft AS.   Within the first order Nauta will produce a partly outfitted vessel with length 69.9 meters and beam 14.2 meters


Nauta Yard Cuts First Steel for Trawler Newbuild

Photo: Nauta Shipyard

Newbuilding Department of Nauta Shipyard has begun construction of fully equipped fishing vessel - Ocean Star with a steel cutting ceremony held on April 26. The ceremony was attended by representatives of shipowner, DnV and Warthill Design .


G E Shipping Reworks Newbuildings Kamsarmax Exposure

Jag Laxmi Photo Greatship

The Great Eastern Shipping Company has entered into an agreement to cancel the new building Kamsarmax which was scheduled for delivery in FY 18 (contract signed in FY 14).   Simultaneously, the Company has contracted for purchase of two newbuilding resale Kamsarmaxes being built at the same


Shipping Faced with a Positive, Yet Complex, Changing macroeconomics landscape

Peter Sand, Chief Shipping Analyst, BIMCO

  The global macroeconomic scene has become more volatile, with prominent factors such as oil prices and global currencies causing a commotion. This is resulting in large-scale distributional changes of wealth and income that will impact global trade patterns in the long run if these changes


Teekay’s Gas Carrier Fleet Worth $6.9 Billion

Image: VesselsValue.com

Global shipping giant Teekay LNG Partners can count itself as owner of the world’s most expensive fleet of whole gas (LPG and LNG) ships, worth a combined $6.9 billion, according to online ship intelligence and information service VesselsValue.com.  


ME Production Receives Two Scrubber Orders

Presspic.jpg

ME Production subsidiary Marine Exhaust Technology has been awarded a new contract for the DFDS vessel Finlandia sailing on the route Rosyth-Zeebrugge. The scrubber contract includes design, engineering, manufacturing, and installation.  


Sanmar Built Vessel Join Svitzer’s Fleet

Tugboat Shipyard at Tuzla Bay. Photo: Sanmar Tugboat

 Sanmar Shipyard Tuzla has built M/T Svitzer Amstel (Boğaçay XII) will join Svitzer’s fleet at the Port of Amsterdam, The Netherlands.    The vessel measures 24.4m x 11.25m with a 60 tonne bollard pull derived from a pair of 3512 C Caterpillar engines


Shanhaiguan Books Order for Six Containerships

Photo by Shanhaiguan Shipbuilding Industry

 China’s Shanhaiguan Shipbuilding Industry has booked an order to build up to six feeder containerships for Dalian Port Wantong Logistics and Dalian Jifa Ship Management.    The newbuilding contract will see the affiliate yard of China Shipbuilding Industry Corporation


Pioneer Marine Plunges into Red Again, Cancels Ship Orders

Photo by Pioneer Marine Inc

 Singapore-based Pioneer Marine reported a $5.4m loss for the third quarter of 2015, about even with a $5m loss in the same quarter last year.  It canceled orders for three new ships as the bulk-ship operator coped with a steep decline in demand for commodities in China.  


Frontline Reports Strongest 3Q

Frontline has one of the worlds largest fleets of VLCC and Suezmax tankers Credit Frontline

  * Frontline achieved net income attributable to the Company of $17.4 million, or $0.09 per share, for the third quarter of 2015 and net income attributable to the Company of $65.9 million, or $0.42 per share, for the nine months ended September 30, 2015.


Container Ship Deliveries Hit New Record

Graph and Table source: Alphaliner

 Container vessel capacity delivered in 2015 has reached a new record as 212 new cellular containerships, with a total capacity of 1,714,860 teu, have joined the global fleet over the course of this year, according to Alphaliner Research.  


Navig8 Acquires Two Newbuildings

NAVIG8 Amazonite Photo Navig8

 Navig8 Product Tankers Inc., today announced that it has taken delivery of two further product tankers from its newbuilding program – the Navig8 Symphony, a 110,000 DWT LR2 tanker from Sungdong Shipbuilding & Marine Engineering Co., Ltd


Havyard Cancels Subsea Newbuild

Photo: Havyard Ship Technology AS

 Norwegian shipbuilder Havyard Ship Technology AS reports the cancelation of an order for an advanced subsea vessel placed by an undisclosed "international shipping company" in June last year.   The unidentified shipowner has cancelled its contract "in light of the


Pioneer Scratches Orders for Five Newbuildings

Pic: Pioneer Marine

 Singapore-based bulker player Pioneer Marine has terminated five handysize newbuild contracts at Yangzhou Guoyu Shipyard.   The leading shipowner and global drybulk handysize transportation service provider announced the following developments regarding its newbuilding program:






 
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