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Celebrity Cruises Orders New Ship

Celebrity Cruises has exercised its option to order a second 118,000 gross-registered-ton ship. German shipbuilder Meyer Werft will build the new tonnage, with delivery of the first ship planned for Fall 2008 and the second ship in Summer 2009. Celebrity also announced names of both new ships. The first new ship will be called Celebrity Solstice, and the second ship will be named Celebrity Equinox. The new series of ships will be known as the Solstice class. Terms for the second Solstice-class vessel are substantially the same as those of the first ship.


Caterpillar Launches Cat 3500 Gasket Kits

Photo courtesy of Caterpillar

Caterpillar Marine is pleased to announce the launch of Cat 3500 marine diesel engine gasket kits for engine overhauls.  Cat gaskets are a critical part within Cat diesel engines and are specifically engineered with specialized materials to reduce leaks and keep fluid within the engine. Recognizing varied customers’ needs for their particular application, the kits are arranged by serial number to provide customers with a simplified and expedited ordering process


Cruise Ship Newbuilding Famine Relieved by NCL

Norwegian Cruise Lines New Ship: Photo credit NCL

Norwegian Cruise Line (NCL) orders new cruise liner from Germany's Meyer Werft with option for a second. The ship's contract price is approximately euro 700 million and the company has export credit financing in place which was arranged and underwritten by KfW IPEX-Bank GmbH of Germany. Delivery is scheduled for delivery in October 2015, and the delivery for the second (optional) ship would be spring 2017. The new ship, at 163,000 gross tons and approximately 4,200 passenger berths


25,000-TEU Ships Possible, Not Practical

Pic by Maersk Line

 Maersk Line CEO Soren Skou said ships with capacities of 25,000 twenty-foot-equivalent units are possible but not practical today, and that he expects 18,000-19,000-TEU container ships to remain the largest afloat for years to come, according to a report in JOC.   Skou believes there are no design barriers that would prevent construction of a 25,000 TEU ship. However, he said: “Unless the market really starts to grow very very fast, I don’t think you're going to see 25


DNB Market Report Says: 'Just Look at the Car Carriers'

In its latest shipping sector report DNB Bank, focuses on how ship speed optimization has changed fundamental supply/demand balances. The DNB Bank report expounds: Speed optimisation has completely changed the fundamental supply/demand balances. Over the past year we have pointed out how high bunker prices and speed optimisation have completely changed the fundamental supply/demand balances in the shipping industry


Maersk Tanker Fleet on Fuel-saving Retrofit Crusade

Maersk Tankship: Photo courtesy of Maersk Tankers

Maersk Tankers plan to spend up to $35m as it pushes ahead with a fuel saving retrofit programme. One of the company's "I-class" VLCCs is being fitted with fuel saving devices, iincluding Becker Mewis propeller ducts and propeller boss cap fins on a range of owned tankers. The programme includes screening and retrofitting around 70 tankers over the next two to three years, reports Carbon Positive. The company's drive to raise fuel efficiency will focus on as many as 35 separate


Kirby Marine Orders New Towboats

Kirby Marine has 241 active towboats and 887 active tank barges with a total capacity of 16.4 million barrels. The company’s ongoing repower program that has seen 46 Cummins engines installed to date. More recently the publicly traded corporation has announced plans for two new builds the first of which will be delivered in September 2006. The 90x35x10-foot vessel will be built by Quality Marine of Houma Louisiana to a design by Maine-based naval architect Corning Townsend


Royal Caribbean Looks to Order New Ultra-Voyager Ships

Royal Caribbean Cruises Ltd., along with Finnish shipbuilder Kvaerner Masa-Yards, has developed a design for a new and even more spectacular ship, the "Ultra-Voyager," and that both parties have signed an agreement that could lead to a firm order. The conditional agreement anticipates one newbuilding, deliverable in 2006, and one option, for delivery in 2007 or 2008. The agreement anticipates that the cruise line and the yard could enter into construction contracts for Ultra-Voyager


GL Completes EEDI Certification

Carisbrooke Shippings Vectis Falcon

GL completes EEDI certification of four Carisbrooke Super Green 8500 Vessels Germanischer Lloyd (GL) presented Carisbrooke Shipping with energy efficiency design index (EEDI) certificates for four low emission dry cargo vessels. Built by Chinese shipyard Jiangsu Yangzijiang Shipbuilding, the four 8500 DWT sister vessels, the Vectis Eagle, Falcon, Harrier and Osprey incorporate a number of innovative features, including the distinctive Groot Cross-Bow(r).


Russia Orders New Krivak IV Frigates

United Shipbuilding Corporation, the Russian construction, repairs and maintenance industry, reportedly signed a contract with the ministry of defence for the construction of another three Krivak IV class frigates for the Russian navy, according to a report on www.avionews.com. The frigates are equipped with a 100-mm gun, Shitl medium-range air defense system, Club-N supersonic missiles, two Kashtan point defense systems


Shipping Confidence Hits 2.5 Year Low

Richard Greiner, Moore Stephens Partner, Shipping Industry Group (photo courtesy of Moore Stephens)

  Overall confidence levels in the shipping industry fell to their lowest level for two-and-a-half years in February 2015, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens.  


NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg (Photo courtesy of NORDEN)

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions to continue through 2015 as the tanker market has come off to a good start.  


Sweden Orders New Submarines

A26 submarines: Picture by SAAB AB

 Sweden is to buy two new submarines from constructors Saab Kockums. The A26 subs are to be delivered by 2022 and will cost up to SEK 8.2 billion ($945 million).   "This is the biggest single decision when it comes to economic investments that we will make during this parliament


Floater Orders 2014

Jim Mccaul

25 Units Orders in 2014:  10 FPSOs, 1 Barge, 4 FLNGs, 7 FSRUs & 3 FSOs The overall number of orders is similar to the average ordering pace over the past 10 years, during which an average of roughly 25 production and storage floaters were ordered annually.  


Maersk Line CEO: 11 New Ships Likely in Q2 2015

Eleonora Maersk, an E-class vessel  (Photo by Łukasz Golowanow)

Maersk is considering ordering 11 container megaships in the second quarter of 2015, the Wall Street Journal reported today. "We need to grow with the market and increase our capacity by 425,000 containers from 2017 onward for three years


India's $8 Billion Warships Project on Track

India's government has cleared a $8 billion plan to build the country's most advanced warships, defence sources said, just months after ordering new submarines to close the gap with the Chinese navy in the Indian Ocean. Since taking over last year


Bank of China Signs $14b Deal With China Shipping

Bank of China Tower - Image: Bank of China

Bank of China and China Shipping Group (CSG ) signed a global strategic cooperation agreement worth $14 billion (RMB90bln) in Beijing yesterday to develop cooperation opportunities worldwide, especially in the Shanghai Free Trade Zone (FTZ). 


Cosco Profits Boosted by Low Fuel Prices

Image: China Cosco Holdings

China Cosco Holdings ended 2014 in profitable territory, growing its net earnings by 50 percent to $56 million on the back of cost cuts, improved revenue and lower bunker fuel prices.  The company, the flagship unit of state-owned shipping conglomerate China Ocean Shipping (Group) Corporation


The Deepwater Sector's Perfect Storm

Photo: Petrobras

Impact of $50 oil and Petrobras implosion on contracting in the floating production sector     The drop in oil/gas prices and ongoing implosion in Petrobras have combined to create a perfect storm in the deepwater sector. More than 170 projects involving oil production floaters and 35


Golar LNG Secures Charters for Carrier Duo

Golar Arctic

  Golar LNG announced today that it has been awarded 2 time charters by Nigeria LNG Ltd ("NLNG") to employ the recently delivered Golar Frost and Golar Crystal. Employment of both vessels under these contracts will commence in January 2015 and will continue for a duration of


COSCOL Profit Jumps

Courtesy: COSCOL

Shanghai Stock Exchange-listed COSCO Shipping Company Limited (COSCOL) says its profits shot up 491% year on year (y/y) to CNY193M ($31M) in 2014. Revenue improved 3% year-on-year.  The results also boosted by government subsidies and benefitted from cost cutting measures


Floating Production: What’s New in January?

Photo: Petrobras

  2014 Floater Orders – We thought it would be useful to provide a summary of floater orders placed last year. As listed below, 25 units were ordered during the year - 10 FPSOs, one Barge, four FLNGs, seven FSRUs and three FSOs.    FPSOs (10) • Kaombo CLM


Shipbuilding: Yangzijiang bags 13 New Orders

Yangzijiang Shipbuilding

China's Yangzijiang Shipbuilding has entered into 13 shipbuilding orders in the fourth quarter of 2014, of which nine were effective orders with a total contract value of US$388 million, brining total orders for 2014 to a record US$1.8 billion 


MarineCo Orders New Damen Workboat

MarineCo UK  has contracted Damen Shipyards Group for a Multi Cat 2712 vessel to be delivered in April 2015.   The Multi Cat 2712 is the second contract for this new type in the Damen Multi Cat Series, It measures 27 meters in length and 12 meters in width


Fincantieri Wins Carnival Cruise Ship Order

 Fincantieri SpA

 Fincantieri SpA has been awarded an order by Carnival Corporation & plc for the construction of two new cruise ships for Carnival Cruise Line and Holland America Line. Both will be sisters ships respectively to Carnival Vista and Koningsdam






 
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