Marine link
 

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


Moore Stephens Recommends Exploring Leasing Solutions

logo moore stephens.gif

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


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


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


Moore Stephens Says Banks Will Take a Firmer Grip

logo.gif

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


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.


Shipping Deal Opens Market for BASSnet Software

Indonesia-based logistics and shipping company, PT Pelita Samudera Shipping (PT PSS) has chosen BASSnet  software solutions to enhance the management of its highly valued shipping assets.   Upgrading the efficiency of the well-known ship manning firm marks BASS’ foray into the Indonesian market and reflects its expanding presence in Asia. BASSnet  Maintenance and BASSnet  Procurement modules that PT PSS is deploying demonstrate the best advantages that


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.


Asian Traders Unload Floating Gasoline as Market Flips

File image: A tanker at sea (credit: BMT)

Gasoline shifted from tankers to landed storage or sold off; forward gasoline prices to flip to backwardation from July. The number of tankers storing gasoline in waters off Singapore and Malaysia is dwindling as the fuel is sold off or shifted to cheaper onshore storage because of changes in


DP World to Manage Somaliland Port for 30 Years

Image: Port of Berbera

 DP World has reached an agreement to manage the Berbera port in Somaliland, which would allow it to become a major hub for goods to transit to and from the Horn of Africa, the Wall Street Journal reported.   DP World signed a US$442 million agreement with the government of Somaliland


Konecranes-Terex Deal to Proceed as Zoomlion Drops Rival Bid

Photo: Terex Corp

China's Zoomlion Heavy Industry Science and Technology Co Ltd has abandoned its $3.4 billion bid for U.S. crane maker Terex Corp , clearing the way for a smaller deal between Terex and Finland's Konecranes.   The decision comes after six months of merger talks between Terex and Zoomlion


Hanjin Vessel Seized in South Africa

Hanjin Paradip. Photo: Hanjin Shipping

 Hanjin Shipping-operated bulker Hanjin Paradip has been arrested by a South Africa for alleged unpaid charter fees.    The 82,158 dwt bulker, which has been used to transport grain and minerals, was detained in Richards Bay on May 24 due to the unpaid charter fees to an


Seacat Services Secures Burbo Bank Charter Deal

Seacat Endeavour (Photo: Seacat Services)

DONG Energy has awarded  offshore energy support vessel operator Seacat Services with the supply contract for all crew transfer services at its 258MW Burbo Bank Extension project under development in the Irish Sea. The four-vessel charter contract, with durations of three to 11 months


Aquino: China Breaks South China Sea Deal

Philippine President Benigno Aquino on Thursday accused China of breaking a U.S.-brokered deal between the two nations on the Scarborough Shoal, an uninhabited rocky outcrop in the South China Sea. China claims almost the entire South China Sea, believed to have rich deposits of oil and gas


FedEx Completes Takeover of TNT Express

Photo: TNT Express

 US-based FedEx Corp. completed its €4.4 billion ($4.9 billion) acquisition of Dutch TNT Express, , with integration of the companies to start immediately.   The companies say customers will interact with each company as they always have and once the integration is complete


CMA CGM Proceeds with NOL Takeover after China Okay

File Image: A CMA CGM boxship alongside during cargo operations (credit: Marad)

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China, the French group said. CMA CGM received on Wednesday confirmation of the deal's approval by the


Singapore Exchange in Talks to buy Baltic Exchange

Baltic Exchange privately owned by 380 shareholders. The Singapore Exchange (SGX) is in exclusive talks to buy London's Baltic Exchange, which has been at the heart of the global shipping industry for centuries, the two companies said on Wednesday.


ABS: Sharpening its Global View

(Photo: ABS)

The American Bureau of Shipping (ABS), already one of the world’s well-regarded classification societies, recently restructured its ranks to meet the perpetually evolving needs of its customers. Kirsi Tikka, the global head of marine, and Howard Fireman, CTO, explain.  


India to Boost Iran Port Project, Links to Afghanistan

Indian Prime Minister Narendra Modi on Monday pledged up to $500 million to develop the southern Iran port of Chabahar, in a move to give his country trade access to Iran, Afghanistan and central Asia.   The route is currently all-but blocked by Pakistan, long at odds politically with India


CMA CGM Aims to Cut Costs by $1 Bln

Photo: CMA CGM

France's CMA CGM, the world's third-largest container shipping firm, reported a first-quarter net loss on Friday and targeted $1 billion in cost cuts to keep operating margins positive during the current market downturn.   Weak freight rates in the past year have left many lines operating


Delayed Tanker Begins Libyan Crude Lifting

A tanker that had been blocked for three weeks in a stand-off over oil exports at the eastern Libyan port of Marsa al-Hariga entered the port and began loading on Thursday, officials said. The Seachance, which had been waiting to load oil for Glencore on behalf of the Tripoli-based National Oil


UASC, Hapag-Lloyd Merger on the Anvil?

Image: United Arab Shipping Company, Hapag-Lloyd

 In order to get through the crisis of global shipping, Germany-based container line Hapag-Lloyd will ally with United Arab Shipping Company (UASC).   HL is in talks to merge with UASC, representing the latest move in container shipping corporate consolidation, Reuters reports.


IMO Workshop Promotes Energy Efficiency Measures

Photo: International Maritime Organization (IMO)

 An International Maritime Organization (IMO) workshop is raising awareness of the organization’s regulatory regime dealing with improving energy efficiency and the control of GHG emissions from ships.    Participants from Malaysian governmental departments






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright