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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


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.


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.


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


Gypsy Moth Clause Takes Balanced Approach to Risk

Multiple US-bound ships delayed by Asian Gypsy Moth

  A new BIMCO clause provides a simple, practical and commercial solution focusing on the basic obligations and responsibilities of owners and charterers when dealing with the Asian Gypsy Moth (AGM). The spread by ships of AGM poses a severe risk to agricultural resources in many parts of


India Not Pressurized by US-China Deal

Climate change

  Indian Prime Minister Narendra Modi said a climate deal between the United States and China does not put pressure on India, but that global warming itself was reason to take action. India, the world's third largest carbon emitter, is reluctant to follow the United States and China in


U.S., India to Seal Nuclear Deal

Deal nearly finalized

  The United States and India have reached a breakthrough on two issues holding up civil nuclear cooperation between them, U.S. President Barack Obama told a news conference in New Delhi on Sunday. The two countries signed a landmark civilian nuclear deal in 2008 but trade was stymied by


Obama, Modi Aim High on India Trip

Barack Obama-Narendra Modi

  In a fresh bid to make India an enduring strategic partner, U.S. President Barack Obama lands in New Delhi on Sunday for a highly symbolic parade and to nurture friendship with a prime minister who until last year was persona non grata in Washington.


Glasgow-Singapore Green Ship Deal On

(Image: The Maritime and Port Authority of Singapore)

A new research collaboration between A*STAR’s IHPC, Sembcorp Marine Ltd, University of Glasgow and UGS aims to  make a ship’s voyage more smooth sailing by improving its hydrodynamics and energy efficiency.  The four organizations today signed a memorandum of understanding


Sri Lanka Softens Stance on China Port City dealD

Sri Lanka's new government said on Thursday it might renegotiate a $1.5 billion "port city" deal with China Communications Construction Co Ltd, softening its pre-election threat to scrap the project.   New Prime Minister Ranil Wickremesinghe, before last month's presidential vote


Port of Montreal Plans $132m Expansion

Iberville Passenger Terminal is located in the Old Port, right in the heart of Old Montreal (Image:  Montreal Port Authority)

Ottawa government has announced a multimillion-dollar investment for the Port of Montreal, meant to facilitate exports following a new trade deal with Europe. The Port will receive a $132-million makeover in anticipation of an increase in exports.  Ottawa will contribute $43


Ship-to-ship Transfer Clause for Dry Bulk

BIMCO

  A new clause for dry cargo voyage charters is set to plug the gap in contracts that do not address ship-to-ship transfer (STST) cargo operations. STST cargo operations are a common feature in most tanker voyage charters, but rarely form part of dry cargo standard forms.


Slow Economy Growth Offers No Respite for Shipping

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A limited economic growth potential and a slow recovery pace of the global economy only ease the pain in the global shipping industry somewhat, BIMCO reported, adding that while the industry continues to suffer from oversupply in the freight market


WSS Wins Tender with Solstad Shipping

Frank Olson (Photo courtesy: WSS)

Wilhelmsen Ships Service (WSS) and Solstad Shipping have announced that they have entered into a two year Global Agency Agreement with a two year option. WSS will provide Global Agency Services to Solstad’s 48 vessels worldwide. “We were previously using around 50 different


Noreco, North Energy Agree Asset Transfer on PL484

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  Norwegian Energy Company ASA (Noreco) has agreed to transfer its 30 per cent ownership in PL484 in the Norwegian Sea to North Energy ASA (North). The transfer is subject to government approval. Further, the companies have agreed that Noreco, under certain conditions


Shell, GDF Take Stakes in Floating LNG Terminal

Image: APGDC

Europe's largest oil company Royal Dutch Shell and French firm GDF Suez are likely to take 26 percent stake each in GAIL India Ltd’s proposed ‘floating LNG import terminal’ at Kakinada in Andhra Pradesh.   Andhra Pradesh Gas Distribution Corp (APGDC) – a joint


Deloitte : Investment Crucial for UKCS

United Kingdom Continental Shelf

  The North Sea needs continued investment from businesses and government through its current period of transition, according to a new report from Deloitte, the business advisory firm. Deloitte’s Petroleum Services Group’s latest North West Europe Review, which details drilling


Grounded Tanker May Siphon LNG to Break Free

A fully loaded liquefied natural gas (LNG) tanker grounded off Nigeria last week may siphon its cargo to another ship after tugs failed to pull it free, owner Teekay LNG Partners said on Tuesday.   The Magellan Spirit tanker, carrying a full load of 165,000 cubic metres


Prestige Cruises Withdraws IPO Plan

Regent Seven Seas Cruises

Prestige Cruises International Inc, which was bought by Norwegian Cruise Line Holdings Ltd in a $3 billion deal in September, filed with U.S. regulators to withdraw its plan for an initial public offering. Prestige Cruises, which operates under the Oceania and Regent Seven Seas brands in the






 
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