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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.


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


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


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


Egypt: Suez Canal Zone to Make Up 30-35% of Economy

Egypt expects a planned economic zone near the Suez Canal to eventually make up about a third of Egypt's economy, the country's investment minister said on Thursday.   Egypt plans to build an international industrial and logistics hub near the canal to attract foreign investment


Bestobell Bags Hat Trick Order in China

Photo courtesy of Bestobell Marine

Bestobell Marine, part of the President Engineering Group, has received its third order in the past 12 months from Hudong Zhonghua shipyard in China. The deal involves the supply of 460 cryogenic miniature needle globe valves per ship for four Teekay/CNOOC/China Shipping Group LNG (liquefied


Ships Can’t Cope with Flow of Immigrants in Mediterranean

​​The High-Level Meeting to Address Unsafe Mixed Migration by Sea by International Maritime Organization (IMO)

Merchant ship owners can’t cope with increasing flows of refugees trying to cross from Africa and the Middle East to countries like Greece and Italy, says a report in WSJ   The number of migrants crossing the Mediterranean is putting a "disproportionate" burden on the


Genting Acquires Crystal Cruises

 CRYSTAL SERENITY at sea, courtesy of Crystal Cruises

 Crystal Cruises has been sold for $550 million to the owner of Asia's largest cruise line and a major shareholder of Norwegian Cruise Line.    Crystal's parent company, Nippon Yusen Kabushiki Kaisha has sold the line to Genting Hong Kong, which owns Star Cruises


Former BP Boss Browne is DEA Chairman

Lord John Browne heads DEA's supervisory board * LetterOne co-owners Fridman, Khan also join * Unit changes name to DEA Deutsche Erdoel AG FRANKFURT, March 3 (Reuters) - DEA, the oil and gas company that German utility RWE sold to Russian billionaire Mikhail Fridman


Green Groups Sue Port of Seattle

Image courtesy: Port Of Seattle

 A coalition of environmental groups has sued the Port of Seattle over a leasing agreement to host Shell Oil’s Arctic drilling fleet, claiming the deal was negotiated in secret and may pollute the port.   They argued that the port needed to allow more public involvement and


Indonesia: Port Operation to Go Online in September

Port of Tanjung Priok (Image by PT. Pelabuhan Indonesia)

 The Indonesian government is expected to start operation of a new online system at the country’s four major ports in September this year.   The operation of the long awaited Inaportnet system, which will allow traders to request clearances and permits online to move cargoes will


Editorial: Gettin’ Crabby with Deadliest Catch

Greg  Trauthwein, Editor & Associate Publisher

As February is our traditional cruise shipping edition, naturally we’ve selected a fishing boat and two crabs for the cover. But as many of you may already know, that’s not just any fishing boat, rather it is the Cornelia Marie, its owner Josh Harris and captain Casey McManus


MOL Expands Container Fleet

Containership Courtesy MOL

  Mitsui O.S.K. Lines, Ltd. has signed a deal for construction of four 20,000 TEU containerships with Samsung Heavy Industries. MOL also concluded an MOU for long-term chartering of two 20,000 TEU containerships with Shoei Kisen Kaisha, Ltd


Drowning at Castaway Cay

Castaway Cay by Disney

 Police are investigating the apparent drowning of an American cruise ship passenger off at Disney’s private island in the Bahamas - Castaway Cay in the Abacos. The incident happened on Thursday afternoon, and a lot of details are not yet known about the situation.   


Greek Banks Mull Cutting Shipping Portfolios

Greece's leading banks are considering offloading part of their portfolios of shipping debt worth billions of dollars in a bid to shore up their capital, according to banking and ship financing sources. Greece has secured an extension to its bailout from its European partners


Okeanus to Represent MacArtney Group in Brazil

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Underwater technology provider MacArtney Group has signed an agreement with Okeanus Ltda. to be the group's official representative in the Brazilian market, MacArtney Group announced today. This is the third such deal MacArtney Group has signed in the South American in the last six months


General Maritime to buy Navig8 Crude Tanker

General Maritime Corp, which operates crude oil tankers, will acquire Navig8 Crude Tankers Inc in a stock-for-stock deal, the two companies said in a statement.   A newly formed unit of General Maritime will acquire all of Navig8 Crude's common shares to form Gener8 Maritime Inc.  


Tenaga Raises Offer Price for Port Operator

Tenaga Nasional Bhd , Malaysia's largest power group, said on Wednesday it has raised the takeover price for Integrax Bhd by 18.2 percent after a leading shareholder of the port operator rejected its offer. Tenaga, which counts Malaysia's state investor Khazanah as a major shareholder


Hamburg Sud, CCNI Deal Next Month

Containerized fleet CCNI combines a capacity of 37,980 TEUs. Courtesy: CCNI

 Hamburg Sud has entered into a long-expected purchase agreement for Chilean shipping line CCNI (Compania Chilena De Navigacion Interocea) for an undisclosed sum.    The transaction is expected to close by end-March pending approval by antitrust authorities, said Hamburg Sud






 
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