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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

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

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

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.

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

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

Cammell Laird Seals the Deal for UK Polar Ship

NERC chief operating officer Paul Fox and Cammell Laird CEO John Syvret seal the deal in Birkenhead on November 19 (Photo: Cammell Laird)

The deal has been finalized for marine and engineering services company Cammell Laird to begin work on the U.K.’s new £200 million polar research ship.   The Birkenhead shipyard Cammell Laird said it saw off competition from Europe and beyond including Korea and Singapore to be

Interview: Mike Petters - President & CEO, HII

Mike Petters

Last month Mike Petters, president and CEO of Huntington Ingalls Industries (NYSE:HII), was honored by the Coast Guard Foundation at the 35th Annual Salute to the United States Coast Guard, held in New York City. Maritime Reporter & Engineering News recently caught up with Petters – the

Evergreen Line Orders Ten 2,800 teu Ships

Photo: Evergreen Shipping Singapore

 Taiwanese shipping company Evergreen is ordering ten 2,800 TEU container ships from Japanese shipbuilder Imabari Shipbuilding Co.,Ltd and compatriot CSBC Corporation.   The deal between the companies is to buy 10 new 2800 TEU container vessels. The Contract value is $390mln.  

DP World, SCA Pact for Ain Sokhna Port Development

Photo: DP World Sokhna

 Suez Canal Authority (SCA) and the Red Sea Ports Authority signed an agreement with Dubai Ports World (DP World) and Sonker Bunkering Company for the development of Egypt’s Ain Sokhna seaport, reports Egypt Independent.   The signing of the deal comes in line with directives by

Maersk Line CEO Expects Shipping Consolidation to Speed Up

Soren Skou (Photo: Maersk Line)

The world's number one container shipping company Maersk Line expects consolidation in the industry to speed up as freight rates fall due to too many vessels for too few goods, Chief Executive Soren Skou from Maersk Line said on Monday.  

Nautisk Bolsters Management Team in Asia

Alan Leung (Photo: Nautisk)

Global chart distributor Nautisk said it is strengthening its presence across one of its core global locations with the appointment of two new managers in Asia.   Alan Leung will take up the role of Regional Sales Manager in Hong Kong to help with Nautisk’s business expansion in the

ICBC Signs Financing Deal with F.Laeisz

F.Laeisz fleet. Photo by F.Laeisz GmbH

 The Industrial and Commercial Bank of China (ICBC) has signed a financing agreement with Germany shipping company F.Laeisz GmbH.    Under the agreement, the ICBC will provide 65 million U.S. dollars in export buyer's credit for F

Merkel Backs German Bid to Build Australian Submarine Fleet

HMAS Collins, part of Australias aging Collins Class, was commissioned in 1996. (Photo: Royal Australian Navy)

Chancellor Angela Merkel voiced her government's support on Friday for a German arms manufacturer's bid to win a $35.7 billion (A$50 billion) contract from Australia to build it a new fleet of submarines.   Germany's ThyssenKrupp Marine Systems (TKMS) and France's state-controlled naval

Oman Shipping Names Two New Tankers

The recently named tanker Muscat Silver (image: Oman Shipping)

Oman Shipping Company (OSC) has performed the naming ceremony for two new product and chemical tankers – the Muscat Silver and Rustaq Silver.   The ceremony took place at the Hyundai Mipo Dockyard in Ulsan, South Korea. OSC will now take delivery of the Muscat Silver as part of a deal

Klaipedos Nafta and Port of Helsingborg Sign LNG Deal

Image: AB Klaipėdos nafta

 Lithuania’s Klaipedos Nafta has signed a deal with the port of Helsingborg to cooperate on the HEKLA – Helsingborg & Klaipeda LNG infrastructure facility deployment project (HEKLA).   Klaipedos Nafta has also signed a Memorandum of Understanding (MOU) with the Spanish

Cosco, China Shipping Mega Merger Deal May Get Green Signal Soon

Photo: China COSCO Dry Bulk Shipping

 The merger deal of China’s two shipping gianst China Ocean Shipping Co., or Cosco, and China Shipping Group that could create the world’s fourth largest container operator is expected to get approval by Chinese government by January, reports WSJ.  

LR to Class Nine Tankers for Maersk


 Lloyd’s Register (LR) won the deal for classification of nine Medium Range (MR) type product tankers. Owned by Maersk Tankers, the vessels are to be built at Samsung’s Ningbo yard in China.    These are the first ever vessels ordered by a Danish ship owner to the

Manila asks Japan for South China Sea Patrol Boats

Japanese Prime Minister Shinzo Abe may consider a request from the Philippines for large coastguard ships to patrol the disputed South China Sea, after the two allies reached a deal on defence equipment and technology. China has overlapping claims with Brunei, Malaysia, the Philippines

U.S. loses WTO Appeal in Mexican Tuna Dispute

Courtesy WTO

  The World Trade Organization's Appellate Body ruled against the United States on Friday in a dispute with Mexico over tuna labelling, upholding an earlier ruling issued in April that found U.S. rules discriminated against Mexico. "The Appellate Body concludes that the United States

CMA CGM to Acquire Neptune Orient

Photo: Neptune Orient Lines Limited

 France’s CMA CGM SA is in exclusive talks to buy Singapore’s Neptune Orient Lines Ltd (NOL), the shipping company and its Singapore’s Temasek Holdings Ltd., its largest shareholder, said.    The deal would bring together the world’s third-largest container

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