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Ship Orders News

08 Feb 2024

Maersk Warns Oversupply to Hit Profits

© Fotokon / Adobe Stock

Maersk warned on Thursday that container shipping overcapacity would hit profits more than expected this year and that it didn't see a major boost from the jump in freight rates due to Red Sea disruptions, hammering its shares.The warning, which also led the Danish shipping giant to suspend its share buyback programme, is in stark contrast with investors' recent optimism about the sector.Container shipping companies have been among the best-performing stocks in Europe this year…

12 Nov 2023

CMA CGM Reports Drop in Quarterly Profit

Source: CMA CGM

CMA CGM said on Friday its profit fell in the third quarter as a COVID-era boom in shipping continued to fade, but its volumes picked up as a destocking trend in the United States was offset by brisk demand in other parts of the world.The French-based shipping giant was cautious about next year's outlook, with the prospect of a recovery in global trade - as U.S. firms finish destocking - tempered by expectations of modest economic growth and an influx of new vessels.CMA CGM, privately controlled by the Saade family…

31 May 2023

CMA CGM Acquires La Méridionale, New Ship Orders Planned

Copyright CMA CGM

The CMA CGM Group today finalized the acquisition of La Méridionale, a mixed-use freight and passenger shipping company established in Marseille since 1931. La Méridionale currently has four RoPax vessels, which operate up to 13 weekly crossings between Marseille, Porto Vecchio and Ajaccio, plus connections between Marseille and Morocco.The acquisition of La Méridionale complements the new division of the CMA CGM Group dedicated to specialized shipping operations. This division encompasses the new car carrier business…

13 Apr 2023

Record High Container Order Book Signals 'Significant Change'

“Despite the collapse in freight rates, shipowners still have an appetite for new container ship orders and the order book has continued to grow. The record high order book of 7.54 million TEU will result in significant changes to the container fleet in the coming years,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.During the last 10 quarters, 8.61 million TEU has been contracted, matching the level contracted during the preceding 30 quarters. The order book has now increased for 10straight quarters…

04 Jan 2023

Future Fuels: 275 Altenative Fuel Ships Ordered in 2022

MAN ES will start testing its ammonia fueled engine in Q1 2023, and on Maritime Reporter & Engineering News' recent visit to
the MAN ES R&D center in Copenhagen, Bjarne Foldager, Senior Vice President, head of two stroke business at MAN ES, said he
sees a rapid uptake on methnol in the coming years, with 2035 anticipated as a 'tipping point' toward ammonia. Photo of
the MAN ES ammonia engine. Look for the full report in the January 2023 edition of Maritime Reporter & Engineering News. Im

The total number of ships with alternative fuels ordered in 2022 was 275 (excluding battery operated vessels), according to  numbers released today from DNV viat its Alternative Fuels Insight report.In addition, more than 50 LPG carriers have been ordered with LPG dual fuel systems. Predictably, LNG led the way with 222 ships or 81 % of total orders. Seventy-four percent of these orders were for container vessels and Pure Car and Truck Carriers (PCTCs), while product tankers came in third representing 9 % of orders.

11 Jul 2022

Ships Get Older and Slower as Emissions Rules Bite

©OlegD/AdobeStock

If shipping is the beating heart of global trade, its pulse is about to get slower. Faced with uncertainty about which fuels to use in the long term to cut greenhouse gas emissions, many shipping firms are sticking with aging fleets, but older vessels may soon have to start sailing slower to comply with new environmental rules.From next year, the International Maritime Organization (IMO) requires all ships to calculate their annual carbon intensity based on a vessel's emissions…

06 May 2022

Fincantieri's Sales Rise on Strong Shipbuilding Business Performance. CEO Set to Retire

Credit: Wolfgang/AdobeStock

Italy's Fincantieri said sales rose 18% from a year earlier in the first quarter to 1.7 billion euros ($1.8 billion) driven by a strong performance of its core shipbuilding business.The group is gearing up for the exit of chief executive Giuseppe Bono, who is set to retire after 20 years at the helm to be replaced by former Maire Tecnimont CEO Pierroberto Folgiero.Earnings before interest, taxes, depreciation and amortization (EBITDA) were up 17.2% at 118 million euros.The EBITDA margin was flat at 7.0% and the company expects it to remain "solid" despite recent rises in commodity prices…

14 Feb 2022

US Denies Its Submarine Entered Russian Territorial Waters

(File photo: Ian Zagrocki / U.S. Navy)

The United States on Saturday denied that it had carried out military operations in Russian territorial waters, after Moscow said a Russian naval vessel chased away a U.S. submarine in Russian waters in the Pacific.Russia accused Washington of breaking international law and creating a national security threat over the incident at a time of high tensions between Moscow and Washington over a Russian military buildup near Ukraine.Interfax news agency cited the Russian Defense Ministry as saying a Russian naval vessel chased away a U.S.

10 Dec 2021

Shipping Costs: Another Danger for Inflation-watchers to Navigate

© Idanupong / Adobe Stock

Much like the coronavirus pandemic, and the economic disruption that it has caused, a global shipping crisis looks set to go on delaying goods traffic and fueling inflation well into 2023.Shipping rarely figures in economists' inflation and GDP calculations, and companies tend to fret more about raw materials and labor costs than transportation. But that might be changing.The cost of shipping a 40-foot container (FEU) unit has eased some 15% from record highs above $11,000 touched in September, according to the Freightos FBX index.

23 Nov 2021

Langh Ship Orders Three New Ships

(Image: Langh Ship)

Finnish shipping company Langh Ship announced it has ordered three 7,800 dwt newbuild cargo ships from Wuhu Shipyard in China.The first vessel is expected to be delivered in summer 2023 followed by its two sisters soon thereafter.The vessels will operate in a regular service between Outokumpu’s steel mills in northern Finland and the Netherlands. The cargo holds will be equipped with tween decks for steel coil carriage, a special design by Langh Cargo Solutions.Langh Ship said it developed the vessel design in close cooperation with Outokumpu to make the ships as energy efficient…

17 Sep 2021

Hyundai Heavy Industries Shares Jump Above IPO Price on Debut

(Photo: Hyundai Heavy Industries)

Hyundai Heavy Industries' shares closed 86% above their initial public offering (IPO) price on their trading debut in South Korea on Friday.The shipbuilder, one of the largest in the world, raised $935 million from its IPO, with much of the proceeds set to fund investments in new technology.A total of 1,633 domestic and foreign institutional investors placed bids to acquire shares earlier this month, valuing total bids at 1,130 trillion won ($962.3 billion), according to Hyundai Heavy.The institutional book for the IPO had been 1,836 times covered - the second-largest for an IPO in South Korea

26 Aug 2021

2021: The Year of the Containership

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What’s not to like about 2021 for container shipping? Freight rates are record high, record amounts of cargo are shipped across the Pacific Ocean, as well as globally, and the previous yearly record for new container ship orders has just been broken (measured in capacity) in less than eight months.As a result of very healthy shipowner bottom lines and carriers experiencing a lack of tonnage, 619 container ships are now on order for future delivery. Of those, 381 have been ordered in 2021 alone and never has 3.44m TEU been ordered in such a short time span.

12 Aug 2021

Are We Looking at the Next Dry Bulk Super Cycle? Is It Even a Cycle?

© Björn Wylezich / Adobe Stock

Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs. Freight rates and ship values have also risen but although they exceed prices seen during most of the 2010s, they are still far below super cycle levels.“Commodity prices have staged a comeback and are hovering around or above 2007 and 2008 levels. This has fuelled talk of a commodity super cycle. However, while dry bulk freight rates and ship values are currently high compared to the past 10 years…

14 Jun 2021

Helsinki Shipyard Begins Building Third Ship for Swan Hellenic

(Image: Helsinki Shipyard)

Helsinki Shipyard said the first steel has been cut for the third vessel in a series of new luxury expedition cruise ships for British cruise line Swan Hellenic.Ordered in October 2020, the new vessel is scheduled to be delivered at the end of 2022. Like its two sister ships already on order, the vessel is designed for the global cruise market, with an emphasis on high-latitude cruises.“The order for the third ship in this series of expedition cruise ships was one of the few cruise ship orders placed in the pandemic situation during 2020, and therefore significant for all of us.

01 Jun 2021

Shipbuilding: After Two 'Difficult' Years, Meyer Turku Eyes a Positive Future

Photo courtesy Meyer Turku

Finnish shipbuilder Meyer Turku announced its financial figures for 2020, noting that while the group has had two difficult years, it is slowly moving toward a more positive path.Meyer Turku, part of the German-based Meyer Group, primarily builds cruise ships and large capacity ferries, two sectors where newbuild orders have been slowed by the COVID-19 pandemic. But with many parts of the world now reopening to passenger ships, Meyer Turku is targeting a rebound. “Last year has been in several aspects an extraordinary difficult year…

10 Feb 2021

Windship Technology Unveils Emissions-free Ship Design

(Image: Windship Technology)

British company Windship Technology has unveiled a whole-ship solution to tackle CO2 emissions from ships, launching its emissions-free bulk carrier and tanker designs alongside an investment partnership with classification society DNV.Starting from a clean drawing board, Technical Director Simon Rogers and his design team developed and tested at the Wolfson Unit in Southampton the company’s patented high performance, highly efficient triple-wing rig. The technical team further developed a new diesel electric ship drive system that eliminates CO2…

16 Jun 2020

Market Insights: Cruise Shipping ... Now What?

© napa74/AdobeStock

Heading into 2020 the cruise industry was booming. The number of passengers who went on cruises in 2019 was at an all time high, a trend mirrored by the exponential fleet growth since the 1950s. However, COVID-19 caused an industry wide shut down. Since the start of the year, ordering activity has fallen nearly 50%. This is a dramatic decrease and is unprecedented in the cruise industry, especially when compared to last year which during the same period, activity never dropped more than 10%.

10 Jan 2020

New IMO Rules Overshadow Hapag-Lloyd's Profit Outlook - CEO

Rolf Habben Jansen  (Photo: Hapag-Lloyd)

Tougher rules on sulphur emissions from ships set by the International Maritime Organisation (IMO) from January burden the profit outlook for Germany's container shipping line Hapag-Lloyd this year after a good 2019, its chief executive said."This will make it difficult for us to achieve a better (2020) result," Rolf Habben Jansen told reporters in Hamburg in comments on the ban on ships using a sulphur content above 0.5% on risk of fines, which is shaking up oil and shipping.But with above-market growth rates in transport volumes in 2019…

23 Apr 2019

LNG-Ship Orders to Dominate Newbuilds in 2025

About 60.3 percent of the world’s ship orders are projected to be for liquefied natural gas (LNG)-fueled vessels by 2025."Ships powered by LNG are expected to account for six out of 10 new vessel orders in six years due to toughened environmental standards," said a report in Pulse News.A study report released by Korea Development Bank and Korea Trade-Investment Promotion Agency said that that as many as 1,962 new LNG carriers would be built by 2025. It also expected demand for LNG bunkering vessels to jump more than tenfold, from 313,000 tons in 2016 to 3.2 million tons in 2030.On condition that Korean shipbuilders would be responsible for building more than 60 percent of the world’s large LNG-fueled vessels…

09 Apr 2019

China No.1 in Global Ship Orders in Q1

Chinese shipbuilders Chinese shipbuilders took the top spot worldwide in terms of new orders in the first quarter of the year 2019.A report in Yonhap quoted data compiled by industry tracker Clarkson Research Institute that said the local shipyards garnered new orders totaling 2.58 million compensated gross tons (CGTs), or 35 vessels.South Korean shipbuilders came in second worldwide in terms of new orders in the first quarter of the year, said the report.Korean shipyards won new orders totaling 1.62 million compensated gross tons (CGTs) in the January-March period, equating to 35 ships.Italian firms came in third with 780,000 CGTs, or 10 ships.In the first quarter…

14 Mar 2019

South Korea 1st in Global Ship Orders

South Korean shipbuilders came in first worldwide in total new orders in February, outpacing Chinese rivals, Yonhap news agency said. It comes around 90 percent of the new vessel construction orders awarded in the month.According to the data compiled by industry tracker Clarkson Research Institute, Korean shipyards garnered new orders totaling 630,000 compensated gross tons (CGTs) in February to build eight ships (or 90 percent), out of the 700,000 CGTs (15 vessels).Third spot went to Japanese shipbuilders with 10-thousand CGT.In the first two months of 2019, Chinese shipbuilders won orders totaling 1.24 million CGTs (65 vessels or 41 percent)…

27 Feb 2019

Record Level of New Orders for GTT in 2018

French shipping engineering company Gaztransport & Technigaz (GTT) said that the new ship orders in 2018 surged on year to 50 from 21, making its sales hit a 10-year high, driven by demand from natural gas liquefaction units in construction, in particular in the US.GTT won 48 orders for LNG carriers and two orders for Floating Storage Regasification Units (FSRUs)."Most of these LNG carriers orders are intended for natural gas liquefaction units under construction, in particular in the United States. All of the vessels will be equipped with GTT's recent technologies (NO96 GW, NO96-L03+, Mark III Flex and Mark III Flex+)," the company said in a press release.Announced in early 2018…

27 Dec 2018

Empty Shipyard: "Hyundai Town" Grapples with Uncertain Future

File Image / CREDIT © Burnell11

Hyundai has outsized influence over town's economy, population; Ulsan could be South Korea's Rust Belt in the making.When Lee Dong-hee came to Ulsan to work for Hyundai Heavy Industries five years ago, shipyards in the city known as Hyundai Town operated day and night and workers could make triple South Korea's annual average salary.But the 52-year-old was laid off in January, joining some 27,000 workers and subcontractors who lost their jobs at Hyundai Heavy between 2015 and 2017 as ship orders plunged.To support their family, Lee's wife took a minimum wage job at a Hyundai Motor supplier.

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