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Newbuilding Contract News

14 Dec 2023

CCUS: Bernhard Schulte Orders Its First CO2 Tanker

Two of the four sister vessels are already under construction at Dalian Shipbuilding Offshore. Image courtesy Bernhard Schulte

Bernhard Schulte ordered its first CO2 tanker, a newbuild to be constructed at Dalian Shipbuilding Offshore (DSOC) and to showcase technologies designed to reduce its carbon footprint. Planned for delivery in 2026, the ship is committed to a long-term time charter agreement with Northern Lights.The newbuilding ordered now is the first ship of this type for the Bernhard Schulte fleet and the fourth CO2 carrier for Northern Lights. The joint venture, owned by Shell, TotalEnergies and Equinor…

01 Nov 2023

First Steel Cut for Bernhard Schulte Offshore's New CSOV

Credit: Ulstein

The steel-cutting ceremony was held Tuesday for the first of two TWIN X-STERN CSOV vessels for Bernhard Schulte Offshore in CRIST, Poland.The vessel's hull will take shape in Gdynia before being transported to Ulstein Verft for further outfitting, testing, and completion.The CSOVs will have a centrally located motion-compensated gangway for walk-to-work operations, a lift tower for the transfer of personnel and cargo, and the capacity to accommodate 132 people on board.Credit: UlsteinThe vessels, being built to support offshore wind operations, have been designed by Ulstein Design & Solutions

24 Oct 2023

Eneti CEO Bullish on Offshore Wind Market as Subsidiary Inks Contract for Newbuild WTIV

Credit: Seajacks (file image)

Eneti, a company providing offshore wind installation vessel services, said Tuesday its subsidiary Seajacks had signed a contract with an undisclosed client to transport and install wind turbines.With mobilization starting in the second quarter of 2027, the contract will be performed by one of the company’s two NG16000X Wind Turbine Installation Vessels currently under construction at Hanwha Ocean (ex-Daewoo Shipbuilding & Marine Engineering) in South Korea. Including mobilization and demobilization…

01 Jul 2021

VARD Delivers Latest Newbuild for Hapag-Lloyd Cruises

(Photo: VARD)

Norwegian shipbuilder VARD said it has delivered HANSEATIC spirit, the third expedition cruise vessel for German operator Hapag-Lloyd Cruises.The handover of HANSEATIC spirit completes the series of three vessels in the new Hapag-Lloyd Cruises expedition class, joining the structurally identical sister ships HANSEATIC nature and HANSEATIC inspiration, delivered by VARD in 2019.The 138 meters long and 22 meters wide HANSEATIC spirit has embarked on its journey from Norway to Hamburg…

11 Aug 2020

Norden Orders Two More Bulk Carriers at NACKS

(Photo: Norden)

Norden announced Tuesday it has added two bulk carriers to an existing newbuilding contract with shipbuilder Nantong Cosco Khi Ship Engineering Co. (NACKS), taking the total order to six vessels.The Danish shipowner said it has already sold two of the six vessels on sale and lease back terms, freeing up liquidity. The newbuilds are scheduled to be delivered from 2022.In addition, Norden said it bought a secondhand 2014 built Supramax bulk carrier scheduled to join its fleet in September.

11 Aug 2020

Norden Orders Four Ultramax Bulkers

(File photo: NORDEN)

Danish shipping company Norden announced Monday it has ordered four 61,000 dwt Ultramax bulk carriers from Nantong Cosco Khi Ship Engineering Co. (NACKS), for scheduled delivery in 2022.Norden CEO Jan Rindbo noted that the newbuilding contract is in line with the company’s strategy of agile asset trading and active management of Norden’s cyclical market exposure.“Having sold 10 dry cargo vessels since 2018, we believe asset prices have now declined sufficiently to present a good trading opportunity to buy…

18 Oct 2019

New Concept Ice Class Tugs for Svitzer

Photo: Med Marine

Med Marine has recently signed a newbuilding contract with Danish operator, Svitzer for two icebreaking tugboats.The design is new in Med Marine’s portfolio and comes with some great features for extreme climate conditions.TundRA 3000 is a concept design by Canadian designer Robert Allan Ltd. As the designer has experience in working with different companies operating in harsh winter conditions, TundRA was a great fit for Svitzer’s North European fleet. Once delivered, the vessels will operate across Scandinavia…

18 Oct 2019

Turkish Yard to Build New Ice Class Tug Design

Image: Med Marine

Med Marine based in Istanbul signed a newbuilding contract with Danish operator, Svitzer for two icebreaking tugboats. The design is new in Med Marine’s portfolio, the TundRA 3000 concept a design from Robert Allan Ltd. Once delivered, the vessels will operate across Scandinavia, predominantly serving ports in Denmark and Sweden.The tugs are designed for operations in the full range of ice conditions, and Med Marine’s Procurement & Technical Group Manager ErtuÄźrul ÇETÄ°N said “It is a great pleasure for Med Marine to experience the needs of different geographies.

13 Mar 2019

UECC Orders Four New Car Carriers

United European Car Carriers (UECC) has signed a contract to construct two new generation pure car/truck carriers (PCTCs) with China Ship Building Trading Co., Ltd and Jiangnan Shipyard Group Co. Ltd.The newbuilding contract also has options for two additional vessels, and the first vessel is planned for delivery in 2021. UECC is jointly owned by Nippon Yusen Kabushiki Kaisha (NYK) and Wallenius Lines.The vessels will be equipped with a Battery Hybrid LNG Solution which will place UECC beyond IMO’s target for a 40 percent reduction in carbon intensity by 2030.“This is a giant leap towards decarbonization, and unlike anything else that has been done previously in our industry…

20 Feb 2019

Valles Orders New Tanker from SHI

The Hong Kong and Vancouver-based shipowner Valles Steamship has ordered a new 112,000 dwt crude oil tanker from South Korea’s Sumitomo Heavy Industries Marine & Engineering (SHIME).Ship set to be fitted with a scrubber and will enter the market before the end of 2020, said a release from Valles, which was founded by C.S. Koo in Shanghai as a family business in 1917."We take great pleasure in concluding a newbuilding contract with the esteemed yard and the we look forward to further strengthening their relationship with SHIME," said the statement.The newbuild Aframax will join seven other Aframaxes in Valles Steamship’s fleet. Other ships operated by the company include Panamax bulkers and medium and long range product tankers.

17 Aug 2018

Samsung Heavy Industries to Build Two LNG Carriers for Celsius Tankers

South Korean shipbuilder Samsung Heavy Industries (SHI) booked an order from Denmark’s  Celsius Tankers for two liquefied natural gas (LNG) carriers, securing an option for further two vessels.A press release said that SHI won a newbuilding contract for two 180,000㎥ LNG carriers from a European shipowner Celsius Tankers. The price is 187 million USD per vessel. The LNG carriers would be equipped with Mark-â…˘ Flex type containment system with re-liquefaction to lower BOR. The vessels are equipped for environmental regulations such as SCR and BWTS. They are also loaded with fuel saving technologies including optimized hull design and propulsion…

02 Nov 2017

Egina FPSO Leaves SHI's Geoje Shipyard

Samsung Heavy Industries (SHI) successfully completed Geoje-shipyard portion of the world's largest sized Egina FPSO. The gigantic floater left for Nigeria on 31th October 2017. SHI has now fulfilled successful delivery or sail-away of three massive offshore projects as scheduled. Earlier this year Ichthys CPF, world's largest floating gas processing facility, was delivered in April. Prelude FLNG, world's largest FLNG, had left Goeje in June. SHI won the order to build Egina FPSO in 2013. The FPSO is to be installed in Egina offshore field, located 200km from Nigerian shores. The mega facility is 330m in length, 61m in breadth, and 34m high. It boasts 2.3 million barrels of storage capacity with topsides weighing 60,000 tons.

31 May 2017

Euroseas Acquires Container Feeder Vessel

Euroseas announced that it signed a memorandum of agreement to purchase the M/V EM Astoria, a feeder size containership vessel of 2,788 teu built in 2004. The vessel is to be acquired at market price from Euromar LLC, the Company's joint venture with two private equity firms. The agreement to acquire the vessel includes 100% bank financing and a profit share agreed with the bank. The vessel is expected to be delivered to the Company in June 2017. Aristides Pittas, Chairman and CEO of Euroseas commented: "We are very pleased to proceed with the acquisition of EM Astoria which increases our fleet in the containership feeder sector and is accretive to our shareholders.

28 May 2017

Sungdong Wins Tanker Order

South Korea's Sungdong Shipbuilding  won an order for seven mid-sized tankers, including two as an option, from a Greek shipowner, reported Korea Economic Daily. It has been more than one year that the Korean mid-sized shipyard to receive a newbuilding contract. Sungdong Shipbuilding signed a deal with Greece’s Kyklades Maritime to build five 115,000-ton tankers in firm order and two more in option. The per-ship newbuilding price is estimated at US$44 million. The report said that Sungdong Shipbuilding is also likely to clinch orders for two tankers and two shuttle tankers within the first half of this year. These orders would bring Sungdong’s order receipt volume up to $500-$600 million, brightening the prospect that it could achieve its annual order receipt target set at $1 billion.

15 Mar 2017

ALMACO to Deliver Provision Stores for AIDA Newbuilds

German shipyard Meyer Werft has awarded ALMACO Group the newbuilding contract for provision stores and fast thawing chambers for the next ship generation of AIDA Cruises, which are expected to be delivered end of 2018 and 2021. ALMACO’s scope of work involves a total of 2,600 square meters of provision stores, as well as nine fast thawing chambers (FTC). The FTC is an ALMACO-engineered system that supports a much faster thawing period on less thawing surface, providing a thawing capacity of 750 kg for each room for 12 hours, therefore allowing for 6,750 kg in thawing capacity per 24 hours. ALMACO has delivered FTCs in previous AIDA Cruises newbuilds, AIDAprima and AIDAperla.

16 Feb 2017

Euroseas Reports Q4 Loss

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, reported a total net revenues of $7.3 million for the three month period ended December 31, 2016. Net loss attributable to common shareholders of $18.1 million or $2.17 loss per share basic and diluted. This loss includes, amongst other items, a $0.4 million of dividend on Series B Preferred Shares, a $5.9 million loss on write-down of M/V Eleni which was held for sale, $3.8 million loss on expected termination of our Kamsarmax newbuilding contract and a $4.7 million impairment loss. Total net revenues of $28.4 million for the full year ended December 31, 2016.

09 Sep 2016

Euroseas Cancels Ultramax Newbuild Order

Euroseas Ltd., an owner and operator of dry bulk and container carrier vessels, has cancelled its order for an Ultramax dry bulk vessel under construction at Dayang yard due to excessive construction delays. The vessel, Hull Number DY 161, was previously scheduled for delivery at the end of August 2016. The ship owner has demanded the return of its progress payments and other expenses as specified in the contract and secured by refund guaranties. The parties have referred the matter to arbitration. In June 2016, the company cancelled another new build contract for a similar Ultramax vessel, Hull Number DY 160, with the same yard also due to excessive construction delays.

12 Aug 2016

Euroseas Reports Loss

Euroseas Ltd has announced its results for the three and six month period ended June 30, 2016 as well as certain fleet updates. Total net revenues of $7.3 million. Net loss of $19.2 million; net loss attributable to common shareholders (after a $0.4 million of dividend on Series B Preferred Shares) of $19.6 million or $2.42 loss per share basic and diluted. The results include an impairment charge of $14.0 million on our "Investment in joint venture". Adjusted net loss attributable to common shareholders1 for the period was $0.51 per share basic and diluted. An average of 11.4 vessels were owned and operated during the second quarter of 2016 earning an average time charter equivalent rate of $7,373 per day.

04 Aug 2016

Euroseas Newbuilding Program Update

Euroseas Ltd.announced that it has signed an addendum to its shipbuilding contract with YJZ yard for the construction of Kamsarmax vessel Hull Number YZJ 1153 scheduled to be delivered during the first quarter of 2018. According to the addendum, the Company acquired the option until December 31, 2016 to decide whether to build the vessel, or build a vessel of different type, or credit the payment already made as part of the original contract ($2.77m) to acquire a different vessel from the yard at a mutually agreed price, or decide to cancel the shipbuilding contract without any additional cost. The Company took delivery of a similar Kamsarmax vessel, M/V Xenia, in February 2016.

04 Aug 2016

Euroseas Signs an Addendum Shipbuilding Contract with YJZ Yard

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, has announced  certain developments related to its newbuilding program. The Greek liner has signed an addendum to its shipbuilding contract with YJZ Shipyard  for the construction of Kamsarmax vessel Hull Number YZJ 1153 scheduled to be delivered during the first quarter of 2018. According to the addendum, the Company acquired the option until December 31, 2016 to decide whether to build the vessel, or build a vessel of different type, or credit the payment already made as part of the original contract ($2.77m) to acquire a different vessel from the yard at a mutually agreed price…

21 May 2016

Pioneer Marine Sink Deeper into the Red

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. 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 $8.7 million as a result of the termination of five newbuilding contracts (“newbuilding contract termination agreement”). Excluding these charges, the Company’s adjusted net loss for the first quarter of 2016 is $5.3 million or $0.17 per share basic and diluted. As of March 31, 2016, the Company had cash and cash equivalents of $43.8 million and restricted cash of $12.5 million.

04 Apr 2016

Scorpio Cancels Kamsarmax Newbuilding Contract

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. Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc. currently owns 33 vessels, consisting of 14 Kamsarmax vessels and 19 Ultramax vessels. The Company also time charters-in three dry bulk vessels (consisting of one Supramax…

23 Sep 2015

Shanhaiguan Books Order for Six Containerships

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 (CSIC) construct two 1,100 teu boxships, plus an option to build four more similar vessels. The container vessels are expected to be deployed in domestic waters and along the Yangtze River. The 20,000 dwt newbuildings will be 152 meters long, 25 meters wide, with a draft of 9 meters. The boxships were ordered by Dalian Jifa Ship Management, a joint venture between Dalian Port Group and Dalian Jifa Bohai Rim Container Lines…

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