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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


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


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

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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


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.


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 Receives $650 mln Order from Iran for 10 ships

Photo courtesy Jelle van der Wolf, Adobe Stock

South Korean shipbuilder Hyundai Heavy Industries Co Ltd received a $650 million order to build 10 ships for Iran's state-owned shipping company, South Korea's Yonhap News Agency reported on Saturday, citing a Hyundai Heavy spokesman. The company will build container ships and tankers for


Maersk, Hyundai Merchant Marine alliance talks in doubt

Hyundai Merchant Marine says still in talks to join 2M; joining an alliance was precondition for HMM debt relief. Doubts about the future of Hyundai Merchant Marine Co Ltd surfaced on Friday after Denmark's Maersk Line said the South Korean shipping firm was no longer being considered for the


UK Royal Navy Contracts SEA for Sonar Support

(Photo: SEA/USASS)

Cohort plc company SEA won a contract by the UK Ministry of Defense (UK MoD) to provide support to a range of UK Royal Navy acoustic and sonar underwater systems fitted to the surface and sub-surface fleets. The two year deal to deliver the MoD Underwater Systems Architecture Advisory Service


DP World Partially Monetizes Canadian Assets

DP World Jebel Ali. Photo: DP World

DP World will partner with a Canadian pension fund in a $3.7 billion investment vehicle that primarily looks at brownfield projects in investment-graded countries, says Drewry Maritime Equity Research.   The terminal operator will retain operational control of the fund with 55 percent stake


Survitec Group Completes Merger with WMS Safety Business

Survitec Group, a provider of critical safety and survival technology to the marine and defence markets, has announced the completion of its merger with Wilhelmsen’s marine safety business. The deal includes the transfer of all Wilhelmsen Maritime Services AS (WMS)’


India Readies Draft Inland Vessels Bill, 2016

Indias Minister of State for Shipping Mansukh L. Mandaviya. Photo: Press Information Bureau, Government of India

 The following are the salient features of the draft Inland Vessels Bill, 2016 of India.   The Draft Inland Vessels Bill, 2016 covers the Preamble and has 16 parts i.e. Part I to Part XVI. The salient features are:   1.         Part I- enables the Central


Hyundai Near Deal With Iran for 10 Ships

Photo: Hyundai Heavy Industries Co

 Hyundai Heavy Industries Co. (HHI), a major shipyard in South Korea, looks set to clinch a deal with Iran to supply 10 ships, says a report in Yonhap.   The contract, valued at USD650 million, will see Hyundai supply the Islamic Republic of Iran Shipping Lines, (IRISL) with four 14


ExxonMobil Sees PNG LNG Producing at 16 pct Above Nameplate

Photo:  PNG LNG

 ExxonMobil expects to deliver 7.9 million tonnes of liquefied natural gas from Papua New Guinea this year, around 14 percent above nameplate capacity of its PNG LNG plant,  says a report in Reuter's quoting the company's PNG head.  


Maritime Surveillance on Agenda in Mozambique

Photo:  International Maritime Organization (IMO)

 A project to provide a single display maritime surveillance system for Mozambique has been commissioned and handed over to the country’s Government in Maputo (1 December).    The International Maritime Organization (IMO) -supported project is set to boost maritime


Enhancing Maritime Security in the Dominican Republic

Photo:  International Maritime Organization (IMO)

 A table-top exercise on maritime security has been held in Santo Domingo, Dominican Republic, (1-2 December) to assist the country to effectively implement provisions that fall within the scope of  International Maritime Organization (IMO)  maritime security measures


Oetker Sells Hamburg Süd to Maersk

Photo: Hamburg Süd

 Dr. August Oetker KG announces that, after more than 80 years, it is divesting its shipping business and will be selling Hamburg Süd with all activities, subsidiaries and principal assets.   The world's seventh-biggest container operator, Hamburg Süd


Bahri Signs $350 mln Islamic Finance Deal for Oil Tankers

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, said on Wednesday it had signed a $350 million Islamic 10-year financing deal to pay for the building of five oil tankers. The 10-year murahaba financing was arranged by Standard Chartered


Maersk, DONG in Talks over $10 Bln Oil Merger

File photo: DONG Energy

Denmark's A.P. Moller-Maersk and DONG Energy are in talks to merge their oil and gas operations in a deal that would create a business worth more than $10 billion including debt, sources familiar with the matter said.   Maersk is working with Bank of America on the potential deal


'Submarines Affair' Prompts Investigations in Israel and Germany

Questions over the purchase of German submarines that started with media reports of a potential conflict of interest involving Prime Minister Benjamin Netanyahu's lawyer have mounted in the last 10 days, spurring investigations in two countries.


Grupo TMM Orders Damen ASD Tug 3212

Damen ASD Tug 3212 for TMM Colima Photo Damen

Leading Mexican maritime operator, Grupo TMM, has signed a Protocol of Delivery and Acceptance with Damen Shipyards Group for a 70 tonne bollard pull ASD Tug 3212 named TMM COLIMA. The tug will operate in the Mexican port of Manzanillo on the Pacific Coast






 
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