Belships has entered into a sale and leaseback agreement with a Japanese counterpart for the ship M / S Belforest. Belforest, 61,000 dwt Ultramax bulk carrier is currently under construction at Imabari Shipbuilding in Japan and will be delivered around 25 September 2015. The ship will at time of delivery be sold and leased back for a period of 12 years with purchase options from year 3 onwards. The transaction is considered as a financial lease and will not have any material impact on the financial figures. Compared to alternative loan financing offer published in the report for 2nd quarter, the transaction will improve Belships cash balance with about USD 4 million at time of delivery. Imabari Shipbuilding Co., founded 1901, is Japan’s biggest shipyard with more than 2,000 ships delivered. The annual production is around 90 ships from 8 yard locations, which equals 23% of Japan’s annual shipbuilding production (grt).
The U.S. Navy has awarded a contract to Austal Limited USA to provide engineering and management services support of the Post Shakedown Availability for Independence-variant Littoral Combat Ship (LCS) Gabrielle Giffords (LCS 10). The US$12 million cost-plus-award-fee order adds to Austal USA’s growing support business, which provides critical support to both the LCS and Expeditionary Fast Transport (EPF) fleets
The U.S. Coast Guard Cutter Dallas (WHEC 716) and the guided-missile destroyer USS McFaul (DDG 74) transit through the Black Sea en route to the Republic of Georgia to deliver humanitarian relief supplies. Dallas is carrying more than 76,000 pounds of supplies, including soap, shampoo, toothbrushes, baby wipes, toilet paper and other necessities. (U.S. Coast Guard photo by Petty Officer 2nd Class Lauren Jorgensen/Released)
The Navy officially accepted delivery of the future USS Independence (LCS 2) Dec. 18 during a short ceremony in Mobile, Ala. Independence is the second littoral combat ship delivered to the Navy, and the first LCS of the General Dynamics variant. LCS is a new breed of U.S. Navy warship with versatile warfighting capabilities, capable of open-ocean operation, but optimized for littoral, or coastal, missions. "Today marks a critical milestone in the life of the LCS 2
Gibdock completes a refit of the 12-streamer 3D seismic vessel 'WG Cook' for WesternGeco. WG Cook is one of six 12-streamer 3D seismic ships delivered to the owner in 2010. The 19-day project was completed on time and with no serious QHSE incidents in preparation for WG Cook’s deployment offshore Canada for a seismic survey. “The project was awarded on a competitive tender basis, while the location of the yard is also favourable for this project
Marking its seventh ship delivery in the span of just over a year, General Dynamics NASSCO has delivered the newly built ECO Class tanker Garden State for American Petroleum Tankers. Garden State was delivered during a special signing ceremony and is one of three classes of ships delivered by the San Diego-based shipyard since June of last year. “In the past year, NASSCO shipbuilders have delivered seven ships – or the equivalent to 100,000 tons worth of steel
Spending related to cruises run by Carnival Corp., Royal Caribbean Cruises Ltd. and other lines grew at the slowest pace in at least six years as fewer new ships were launched.Cruise ships traveling to and from US ports and their passengers pumped $32.4 billion into the US economy, a 7.9 percent increase, the International Council of Cruise Lines said in a report released last week, according to a report on Bloomberg.
LPD San Antonio finally wins Battle Efficiency award Naval Surface Force Atlantic announced that the ship, delivered prematurely and tormented by years of mechanical malfunctions and mishaps, has been awarded the Battle Efficiency award, or Battle “E” — a coveted honor given annually to units that demonstrate the highest standards of performance and efficiency. “Everyone who believes that San Antonio is still broken and on the sidelines will now realize that we
A recent report US Government Audit Office (GAO) report, mandated by the House, discussed amongst other issues: (1) quality problems in constructing recently delivered ships and Navy actions to improve quality and (2) key practices employed by leading commercial ship buyers and shipbuilders to ensure quality and how these compared with Navy practices. Excerpts from the report follow: What GAO Found The Navy has experienced significant quality problems with several ship classes
Austal USA said it was awarded a $326 million contract to built the 11th and 12th Expeditionary Fast Transport ships (EPF) for the U.S. Navy. This new contract adds upon a 2008 fully-funded EPF 10-ship block-buy agreement and brings Austal’s current build to a 12 ship program valued at $1.9 billion, and thereby extending the shipbuilder’s production under contract into 2022. Austal USA’s EPF program has seen seven ships delivered so far
The Tunisian government has taken delivery of a new training ship, Zarzis A710, which will support diving and security works in air and sea areas of the Mediterranean. The vessel was built by Vittoria Shipyard SpA and commissioned by the Tunisian Defense Ministry as part of the Tunisian-Italian
Within the Littoral Combat Ship Program (LCS), the consortium consisting of Fincantieri, through its subsidiary Fincantieri Marinette Marine (FMM), and Lockheed Martin Corporation, has delivered the future USS Detroit (LCS 7) to the U.S. Navy at FMM’s shipyard in Marinette, Wisc.
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing short of extraordinary, says BIMCO. But, putting it into perspective, compared to the devastating freight rate levels over the same period
The International Chamber of Shipping (ICS) has applauded the agreement, last Friday, by the IMO Marine Environment Protection Committee (MEPC) to develop a comprehensive Roadmap for addressing CO2 emissions from international shipping – with initial CO2 reduction commitments to be agreed by
Seaspan Corporation, a large owner of containerships that charters vessels to liner companies, improved its revenue as well as net result in the first nine months of 2015, a development mainly attributed to new ships delivered this year, notes management.
Austal USA has been awarded a contract for $51,684,797 to its 10-ship $3.5 billion Littoral Combat Ship (LCS) contract for the U.S. Navy. This contract modification is expected to increase to $198,385,545 over three years if options are exercised
AIDA Cruises’ new flagship AIDAprima docked in Britain’s Southampton port for the first time on the morning of April 27, 2016, as part of a four-day short cruise. AIDAprima will become the first cruise ship to depart from a German port all year round
Austal officials joined ship sponsor U.S. Senator Jeanne Shaheen and many distinguished guests in celebrating the christening of the nation’s 14th littoral combat ship (LCS), the future USS Manchester, here Saturday, May 7, 2016. Manchester (LCS 14) is the fifth LCS in Austal’s
Austal USA announced it has secured a $18.5 million contract to procure long-lead materials for the 12th Expeditionary Fast Transport vessel (EPF) for the U.S. Navy, including main propulsion engines, generators, water jets, main reduction gears and other long-lead time items.
The Great Eastern Shipping Company Ltd. (G E Shipping) delivered its 1999 built Aframax Crude Carrier “Jag Laxmi” to the buyers. The vessel was contracted for sale in April 2016. The Company’s current fleet (excluding “Jag Laxmi”) stands at 31 vessels
The St. Lawrence Seaway opened two weeks earlier this shipping season and U.S. ports took advantage of the warm weather to move cargo for their customers. Betty Sutton, Administrator of the U.S. Saint Lawrence Seaway Development Corporation said
Austal USA’s Expeditionary Fast Transport (EPF) team finalized the delivery of USNS Carson City (EPF 7) to the U.S. Navy during a small document-signing event held onboard the ship on June 24, 2016. The EPF program provides the Navy with a new high-speed intra-theater transport
Silver Ships, Inc. has recently delivered a 34-foot custom designed and purpose-built all-welded aluminum fire/rescue boat to the Islip Fire District on Long Island, N.Y. The Islip Fire District’s area of responsibility includes The Great South Bay, communities on Fire Island
The first of two ultra luxury cruise ships delivered for Regent Seven Seas Cruises Seven Seas Explorer, the newest ultra luxury ship of Regent Seven Seas Cruises, a brand of Norwegian Cruise Line Holdings, was delivered at Fincantieri’s shipyard in Sestri Ponente, Genoa
As the calendar now indicates we have passed the half year mark on 2016, VesselValue.com offers insight on the number and value of all the 2016 built vessels that have been delivered so far vs how many are still yet to be delivered.