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.
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
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
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
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
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
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.
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 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
Lloyds Bank, part-owned by the British government, has withdrawn from a $1.5-$2 billion trade finance deal involving oil major Rosneft, in a development highlighting the growing unease among Western banks in funding Russian deals. Lloyds, along with Deutsche Bank, HSBC and Bank of China was a mandated lead arranger (MLA) on the loan to finance BP's purchase of crude oil and refined products from Rosneft.
Two of China's largest port operators and engineering firms have agreed to invest in a $601 million terminal in Sri Lanka's Hambantota port, part of a series of deals signed during a visit by President Xi Jinping to the island nation. Keen to establish its presence in the Indian Ocean
Canadian uranium producer Cameco Corp and the United Steelworkers union, which represents 535 workers at the world's largest uranium mine and a nearby mill, have agreed to a tentative deal ending a nearly two-week lockout, both sides said on Friday.
Brazilian miner Vale SA reached a deal with China Ocean Shipping Co (Cosco) for transporting iron ore, a move that could help the Brazilian miner resolve a costly two-year ban on docking its mega-ships at Chinese ports. Vale said in a statement that it would transfer ownership of four very
Hapag-Lloyd and Compania SudAmericana de Vapores (CSAV) secured conditional European Union approval on Thursday for their tie-up to create the world's fourth-largest container shipping company. The merger is important for the shipping industry which hopes more deals could help it to overcome
Scheduled for December 1-2, 2014 in New Orleans Dry Dock Conference 2014 is the eighth in a series of international Conferences held every two to three years. This year’s conference will be held December 1-2, 2014 in New Orleans
Bestobell Marine has recently secured its first order to supply its brand new range of cryogenic high pressure Globe valves to DSME (Daewoo Shipbuilding & Marine Engineering Co Ltd) in South Korea. The innovative new valves have been developed over the past two years
Growing Caribbean exports to Asia create a tighter VLCC market in the US Gulf, says Poten & Partners in their latest 'Poten Tanker Opinion'. Back in March 2001, a VLCC was fixed from the Caribbean to India with a cargo of Venezuelan crude oil for the first time ever
A New York-based commodities merchant bank run by veteran energy traders, Neal Shear and Kaushik Amin, announced on Friday plans to buy the aging Come by Chance refinery in Newfoundland from South Korea's state-run oil company. Korea National Oil Corp said it will sell the 115
Korea National Oil Corp said on Friday that it would sell its 115,000-barrel-per-day refinery in Come by Chance, Newfoundland, to SilverRange Financial Partners LLC for an undisclosed price following a months-long search to find a buyer.
European Union antitrust regulators will conditionally clear a deal by Hapag-Lloyd and Compania SudAmericana de Vapores to form the world's fourth-largest container shipping company, two people familiar with the matter said on Friday. The case is important for the shipping industry where
Gazprom Marketing & Trading’s (GM&T) says that its newly delivered LNG carrier “Pskov” has received bunkers (Heavy Fuel Oil and Marine Gas Oil) at the port of Nakhodka in the Primorskiy Region of Russia.
Maritime software engineering specialists PDMS Ltd. have announced an agreement for its U.K. subsidiary, Professional Data Management Services (U.K.) Ltd., to acquire certain parts of the business and assets of Maxima Information Group Limited
More than 1,200 mariners from the Asia Pacific and Indian Ocean regions have completed the first sea phase of the Royal Australian Navy’s largest maritime warfare exercise, KAKADU 2014. Occurring off the coast of Darwin from August 25 to September 12, 2014
French President Francois Hollande said on Thursday that a ceasefire and a political settlement in Ukraine were conditions for France to deliver a warship it has built for Russia. Hollande told reporters on the sidelines of a NATO summit that the contract to supply two Mistral-class helicopter
Report explains how Dutch banking groups deal with risks involved with shipbreaking The NGO Shipbreaking Platform, a global coalition of human rights, labor rights and environmental organizations working to prevent dangerous and dirty ship recycling practices worldwide