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Ship Deal

Aker Yards Wins Cruise Ship Deal

Aker Yards has announced that the Aker MTW Werft GmbH yard in Germany has won a $377.9 million deal to build two cruise liners. The liners, ordered by Aida cruises Ltd., will be 662.7 ft. (202 m) long and have a capacity for 1,600 passengers. Delivery will occur in the first quarter 2002 and the first quarter 2003.

Shipping to See Further Consolidation

Image by MarineLink

 The CMA CGM's move to buy Singapore’s Neptune Orient Lines (NOL), could lead to one of the biggest acquisitions in the shipping container industry in years.   If it goes through, NOL and CMA's merger would be the biggest container shipping deal in years. The buy-out may contribute to the consolidation of container shipping at a time when scale was more critical than ever, according to observers in the field.  

Latvia Shipping Asks Hyundai To Extend Tanker Deal

State-owned Latvian Shipping has asked South Korean Hyundai Heavy Industries to extend the deadline for signing a $200 million tanker order because of political delays. Latvian Shipping is in the process of having a 44 percent stake sold off. It must receive approval for the shipping deal from the Latvian privatization body - a process, which has been bogged down in political infighting. A deadline for signing a deal with South Korean expires on Oct. 22

KMSS Signs Royal Caribbean Deal

Kongsberg Maritime Ship Systems (KMSS) has secured the contract to supply Fire Detection Systems to four Radiance Class ships run by Royal Caribbean Cruises Limited (RCCL), out of the Meyer Weft shipyard in Papenburg, Germany. The contract is worth $3.2 million in total. The four ship deal will see KMSS installing it’s Autrosafe Fire Detection System with Self Verifying Detectors on the currently sailing ‘M/S Radiance of the Seas’ and the ‘M/S Brilliance of the Seas’, which is due

Moore Stephens Recommends Exploring Leasing Solutions

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International accountant and shipping adviser Moore Stephens said shipping companies should explore leasing opportunities as a way of adjusting their self-owned and chartered-in tonnage balance in response to the radical changes that have taken place in ship financing in recent years. Phil Cowan, the firm’s Head of Corporate Finance, said, “The traditional thinking of a company needing to own all the resources it uses to operate has been successfully challenged for many years

Danish Maritime Authority Launches New Ship Survey

Danish Maritime Focus on Safety

  From 1 January, the Danish Maritime Authority will survey all Danish passenger ships in a new way. Shipping companies are positive towards the new passenger ship survey which will, to a greater extent, involve the crew and the daily safety work. In cooperation with a number of passenger ship companies, the Danish Maritime Authority has developed a new way of surveying passenger ships. The project has just been evaluated and the involved companies and crews have received the new

Daewoo Wins $602m Deal

  Daewoo Shipbuilding & Marine Engineering Co., has won a deal worth $602mto build eight container ships, Korea Times said. The deal with a European shipping company entails Daewoo Shipbuilding to deliver the vessels by January 2011, the shipbuilder said in a regulatory filing. The shipyard has clinched deals valued at $1.9b to build 15 ships so far this year. Daewoo Shipbuilding aims at winning $17.5b worth of orders this year

Bidders Circle $4b Daewoo Ship Deal

Despite a sliding stock market, bidders for 's Daewoo Shipbuilding may have to pay a hefty premium and large fees to snap up the coveted $4 billion asset amid upbeat prospects for the sector. Slow progress in the bidding process due to union protests and delays in selecting a lead manager, which coincided with a retreat in global stocks and a decision to exclude foreign bidders, has benefited potential buyers by reducing competition and the value of the deal by $2 billion from a year ago.

HHI Wins $400m LNG Ship Deal

Hyundai Heavy Industries reported winnning a $400m deal to build two LNG carriers for BW Maritime Pte Ltd, part of Singapore's BW Group, according to a report on Reuters. HHIs is scheduled to deliver one of the two vessels in the second half of 2014 and the other in the first half of 2015. The contract included an option for two additional vessels.

Moore Stephens Says Banks Will Take a Firmer Grip


International accountant and shipping consultant Moore Stephens says the banks will exert more control over the shipping industry in 2013.   It also expects vessel values to fall further, and the cost of regulatory compliance to increase. Moore Stephens partner Julian Wilkinson says, “For shipping in 2012, it was not so much a case of ‘Crisis, What Crisis?’ as ‘Crisis, Which Crisis?’ This year will be equally challenging

Russia to Lease Second Submarine to India

Photo: Weapons Systems

 Russia has agreed to lease a second nuclear attack submarine (SSN) to  to the Indian Navy, as part of enhanced bilateral defence cooperation, in a deal which will cost around $2 billion.   A transfer agreement had been signed to lease a second nuclear submarine of project 971

Gulf Navigation Orders 6 Tankers from Wuchang

Dubai's Gulf Navigation Holding has signed a deal with China's Wuchang Group to expand its company's fleet, it said on Wednesday.   Dubai's only listed crude shipper said in a statement the agreement would help meet "increasing demand for transferring chemicals from the UAE and other

HSH Nordbank Seals Charter of Hanjin Ships to Maersk

Photo courtesy of Hanjin Shipping

Germany's HSH Nordbank has arranged a deal which will see six container ships from collapsed South Korean line Hanjin chartered out to Denmark's AP Moller Maersk, the state-backed lender said on Thursday. This is one of the first examples of Hanjin's lenders looking to resolve the fallout from

Philippines Says Chinese Vessels Have Left Disputed Shoal

Chinese ships are no longer at the disputed Scarborough Shoal in the South China Sea and Philippine boats can resume fishing, the Philippine defence minister said on Friday, calling the Chinese departure a "welcome development".  

Trafigura Backs Out of Tanker Foray

Trafigura has sold five oil vessels to a unit of China's Bank of Communications , ending the trading house's move into owning tankers, the company said on Friday. Under the deal, the five medium-range tankers, ordered by Trafigura in 2013 from a shipyard in China

EU Shipping Policy: No Time for Business as Usual

Photo: European Community Shipowners’ Associations (ECSA)

 The future of European shipping policy was debated on Wednesday in a seminar held in Valletta, Malta, a few days after the European Commission published the implementation report of its mid-term Review of EU Maritime Transport Policy.  

Western India Shipyard for Sale

Photo: Western India Shipyard

 ABG Shipyard Ltd, which was one of the largest shipbuilding company in the country operating in the private domain, has decided to divest its entire stake in its subsidiary Western India Shipyard Ltd (WIS).     The company’s board has agreed to invite suitable bid from the

Finnish Shipyard wins Ship Deal from Royal Caribbean

Courtesy Meyer Turku

Miami-based cruise line operator Royal Caribbean Cruises Ltd. and Meyer Turku shipyard signed a memorandum of agreement for two next generation cruise ship orders to be delivered in 2022 and 2024. The around 200,000 gross ton large cruise ships under the project name “Icon” will

Post-Brexit, Lawmakers Call for Royal Yacht's Return

(Photo: The Royal Yacht Britannia Trust)

As Britain sets sail in uncharted waters on the lookout for post-Brexit trade deals, lawmakers and a former diplomat have earmarked two key weapons: the Duchess of Cambridge and a new royal yacht.   Following the vote in June for Britain to leave the European Union

Syria Makes Major Wheat Deal with Russia

Syria's state grain buying agency Hoboob struck a deal to purchase one million tonnes of Russian wheat from political ally Russia, covering the needs of government-controlled areas for a year. The Damascus government subsidises bread for the areas it controls ensuring the supply of flat loaves

Norwegian to Build New Ship for Alaska Cruising

Image: Port of Seattle

Norwegian Cruise Line will commence a new era of Alaska cruising beginning June 2018, as the company announced today that its next new vessel, Norwegian Bliss, will be custom-built with features and amenities for Alaska cruising. Norwegian Bliss will cruise to America’s Last Frontier from

Hanjin Wants to Sell to Maersk

Photo: Hanjin Shipping

 The Seoul Central District Court  has approved a divestment of Hanjin Shipping's Asia-US network and the bankrupt carrier has encouraged Maersk Line to bid on the assets, according to The Korea Economic Daily.   It was reported that the ailing Korean shipping company recently

China Planning $100 bln Merger of Sinochem, ChemChina

Photo: Sinochem Group

 Chinese state-owned chemical companies Sinochem Group and ChemChina are in discussions about a possible merger to create a chemicals, fertilizer and oil giant with almost $100 billion in annual revenue, reports Reuters.   The deal was reportedly proposed by China’s central

UK Chamber of Shipping, MNTB Apprenticeship Seminar

Photo: UK Chamber of Shipping

 The UK Chamber of Shipping and the  Merchant Navy Training Board (MNTB) jointly hosted an Apprenticeship Seminar on the 11th October.    The purpose of the event was to brief attendees from the industry about the Apprenticeship Levy and how apprenticeships can play a role in

As Iran Oil Tenders Near, Investors Still in the Dark on Terms

Two years after Iran pledged to open up its oil industry in anticipation of the lifting of sanctions, foreign companies say they still have little information about Iranian oil fields and contract terms, hindering investment decisions. Bosses from oil majors including BP, Total, Eni

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