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.
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
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
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
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.
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
Dockworkers Vote on Contract
West Coast dockworkers began voting yesterday on a contract deal that was reached after labor disputes. ILWU last month suggested that the union approve the six-year deal that boosted wages and benefits, despite potential job losses due to emerging technology. The union plans to report results of the vote on January 22. If approved, the deal would go into effect immediately. The deal will allow employers to implement new technology, which could result to an estimated 440 to 500 job losses
Port of Houston Expanding, Adds Facilities
Port Commission approves Barbours Cut, Bayport, crane deals, new Bayport gate system. In keeping with its commitment to continue developing Bayport Container Terminal in addition to modernizing Barbours Cut, the Port Commission of the Port of Houston Authority at its May 21 meeting
Hermes Datacomms Wins Two-year African Support Contract
Hermes Datacommunications International Ltd., a company providing Wide Area Network communications to the upstream oil and gas industry, won a contract to support Tullow Oil plc. for their operations in Africa. The 24-month deal sees the company use its pan–African satellite platform to
Singapore: Illegal Bunkering Activity
The Singapore Maritime and Port Authority (MPA) issued a news release stating that four persons are being charged with corrupt practices for conspiring to engage in illegal bunkering activity. A Bunkering Deal Gone Awry The bunkering industry in Singapore is a lucrative business with more
PC Maritime to Install ECDIS in 50-vessel China Shipping Deal
PC Maritime’s Navmaster ECDIS has been chosen by China Shipping Group to be fitted to 50 newbuild bulk carriers. This large ECDIS fleet contract was negotiated by Bogerd Martin NV’s subsidiary company, Bogerd Martin China, based in Shanghai.
DOS – CGPCS Meeting Re Somali Piracy
The Department of State (DOS) issued a news release stating that the Contact Group on Piracy off the Coast of Somalia (CGPCS) met in New York on May 1. Participants agreed that while piracy has been reduced dramatically through the concerted efforts of the international community and the Somali
China J/V to Buy Six LNG Carriers
China Shipping Development and Sinopec Kantons are to spend HK$11.71 billion to buy six LNG carriers, which will be chartered to Sinopec. The two companies have set up a joint venture China Energy Shipping Investment (CESI) which is 51 percent controlled by China Shipping and 49 percent by
Wreck Removal Costs More Nowadays
Insurers, Lloyd's of London, say in a new report that the cost of dealing with shipwrecks is rising as ships grow in size. The report, 'The challenges and implications of removing shipwrecks in the 21st century', warns that the cost of dealing with shipwrecks is spiralling and the increase in
Massive ROV Fleet Expansion by Harkand
The Harkand Group signs a deal with Forum Subsea Technologies that will see it extend its ROV fleet by 25% & create 30 new full time jobs. Harkand, formed through the recent merger of Iremis, Integrated Subsea Services (ISS) and Andrews Survey following investment by Oaktree Capital Management
'Costa Concordia' Owners Fined in Italian Court
Italian cruise firm Costa Crociere has been fined €1-million (US$1.3-million) for the sinking which killed 32 people. Costa had asked for a plea bargain deal to respond to the administrative sanctions, which under Italian law are for companies whose employees commit crimes
Shell's Fresh Arctic Oil Exploration Attempt
Shell to sign Russian Arctic deal with Gazprom Neft, Kremlin reveals. The companies are preparing to sign an agreement that will cover joint offshore drilling in the Russian Arctic as well as shale oil projects onshore in Western Siberia, reports The Telegraph.
GAC to Serve Bibby Offshore U.K. Fleet
Bibby Offshore U.K. Ltd signed a nonexclusive ship agency services contract with GAC covering all ports in the U.K. and making the Group their first choice of provider elsewhere worldwide. Aberdeen-based Bibby Offshore U.K. Ltd is a subsidiary of the Bibby Line Group
Additional $50 Million Approved for Savannah Port Deepening
The $50 million in additional port deepening funds proposed by Georgia Gov. Nathan Deal has been approved by the state legislature and now awaits the governor’s signature. Along with previous funding, Georgia has allocated $231.1 million toward the state’s portion of the Savannah
EnerMech Secure £16 Million Contract
Mechanical engineering services company, EnerMech, has been awarded a process services contract by BG Group which could be worth up to £16 million. The three year contract (+1 year option) covers all BG Group’s U.K. North Sea assets including the Lomond
Panama Canal Authority Board of Directors’ Chairman Hears Savannah Update
In a visit to the Port of Savannah, Panama’s Minister for Canal Affairs Roberto Roy described progress on the canal expansion and heard the latest news on deepening the Savannah Harbor to 47 feet. “With the historic expansion of the Panama Canal nearing completion
MARIS ECDIS Marks 30-unit Deal in Turkey
A run of orders for MARIS has culminated in a 30-system deal covering the delivery of its ECDIS900 system to Turkish customers. The deal highlights the longstanding relationship between MARIS and w marine electronics distribution and service specialist STT International Ltd