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World's Biggest

Carnival To Swap Ships

Carnival Corp., which is working to revive profitability at its Seabourn luxury cruise line, said that next year it will shift a ship now sailing for Seabourn to the company's Holland America Line. The Seabourn Sun, at 38,000 tons the largest of the six Seabourn ships, will move to Holland America in April 2002 after the vessel finishes an around-the-world tour. Carnival, the world's biggest cruise group with 44 ships among its half a dozen lines, last month changed top managers at its jointly run Seabourn and Cunard lines.

STX Shipbuilding Gains on Stake Purchase in Aker Yards

STX Shipbuilding Co., the first South Korean yard in China, had its biggest two-day gain in more than a week in Seoul on optimism the purchase of a stake in Norway's Aker Yards ASA will add cruise liners to its range of vessels. STX Shipbuilding has more than quadrupled this year, making it the fourth-best performer in South Korea's Kospi 200 index. The stake purchase in Aker Yards will allow STX Shipbuilding to use the Norwegian company's expertise in cruise liners

Cruise Lines Face Y2K Supplier Squalls

Cruise Lines Face Y2K Supplier Squalls The world's biggest cruise lines have safeguarded their own computers against Year 2000 glitches, but still face possible electronic squalls arising at food vendors and other suppliers. Carnival, Royal Caribbean and other major cruise lines operating out of North America are stopping short of declaring full victory over possible Y2K disruptions, due to worry about outside vendors, officials said.

Biggies to Rule Ocean, says Maersk CEO

Nils Andersen. Photo: Maersk Line

 The WSJ reports that the Danish container-shipping group is ordering more megaships even as freight rates remain low. Reason?   The world’s biggest container-shipping companies are set to dominate seaborne trade over the next few years, leaving little space for small and midsize operators to compete.   This opinion was expressed by A.P. Møller-Mærsk A/S Chief Executive Nils Andersen.  

Korea's HHI Shows Diverse LNG Carrier Models at Gastech

File photo CCL£

Hyundai Heavy Industries (HHI),  claimed to be the world’s biggest shipbuilder, and the only one in Korea capable of constructing both Membrane type and Moss type LNG carriers, informs it will exhibit at the upcoming Gastech 2014 show in Gyeonggi Province, South Korea. The shipbuilder says it has taken the lead in introducing cutting-edge LNG-related ships, and developing independent LNG storage system and technology

Maersk Orders Advisory Software for 140 Ships

Photo: Maersk Line

ABB and Dutch weather forecasting specialist MeteoGroup have won an order to outfit 140 Maersk container vessels with software to optimize routes   Power and automation group ABB informs it is working with MeteoGroup to equip 140 containerships from Maersk Line with advisory software to optimize routes, boost maritime safety and protect cargo based on factors including the hull design and the weather; helping the shipping line avoid conditions that could be harmful to the ship

World's Biggest Floating Diamond Processing Vessel Sets Sail

The world's biggest floating diamond processing vessel will set sail for the first time within three weeks and should be in position off Namibia before Christmas, the Namibian Minerals Corporation (NAMCO) said. "This is the biggest offshore diamond processing plant in the world," NAMCO chairman Alastair Holberton told reporters on a tour of the ship in Cape Town harbor. "We expect that in its first work up year in operation it will harvest 200,000 carats of diamonds worth about $30 million

Cunard Narrows Field For Queen Mary Builder

Reports indicate that Cunard will likely sign the deal to build the world’s largest and most costly cruise ship this week, and it is believed that either France’s Chantiers de l’Atlantique or Northern Ireland’s Harland and Wolff will be beneficiary of the contract to build the ship, which has been estimated at $600 million. Five European shipyards have been in the running for the massive Queen Mary 2. The cruise industry is convening in Miami this week at the annual Seatrade Cruise Shipping

Hutchison Buy Follows Maersk Deal

Hutchison Port, a unit of conglomerate Hutchison announced earlier on Wednesday a 30 percent investment in Westport Holdings, a multi-purpose terminal in Malaysia's biggest port, Port Klang. Hutchison, controlled by Hong Kong tycoon Li Ka-shing, said in a statement that the deal would allow it to participate in Malaysia's economy. It gave no other details of the deal. Malaysia has 15 ports including Port Klang, on the west coast of Malaysia, which is the nation's main port.

Dubai's DP World Eyes Dollar Bond

DP World, one of the world's biggest port operators, wants to issue a dollar-denominated bond and could announce plans to market the deal to fixed-income investors as soon as next week, three sources aware of the matter said on Thursday. The Dubai-based firm could raise between $750 million and $1 billion from the bond, depending on investor appetite and the interest rate the company would have to pay to borrow the money, two of the sources said

Amid Commodity Crisis, LPG Emerges as Accidental Bright-spot

Liquefied Petroleum Gas, long a niche product used by the poor to cook and the rich to barbecue, has become a rare bright spot amid a broad commodities rout, riding on the wave of strong economic growth in India and parts of Southeast Asia.  

Japan's Chase for Australian Subs Deal

Japans Soryu Class Advanced diesel-electric submarine. Photo: Japanese Navy

 Japan has confirmed it is ready to build Australia’s submarines entirely at local shipyards, after stumbling in its effort to win the A$50 billion ($34.76 billion) contract, reports Reuters.   According to Masaaki Ishikawa

Will Opening of Expanded Panama Canal Be Delayed?

Photo: Panama Canal Authority

 Though cracks were detected in the concrete walls of one of the locks of the newly expanded Panama Canal last month, the  Panama Canal Authority (ACP) is maintaining an April 2016 start date for the revamped inter-oceanic waterway, reports Fox News.  

Singapore's Record Fuel Stocks Move to Floating Storage

Record high stocks of fuel oil in Singapore are pushing traders to store the shipping and feedstock fuel into tankers temporarily as demand slows regionally. At least seven very large crude carriers (VLCCs) have been provisionally fixed to store fuel oil on short-term time charters

US Oil Drillers Cut Rigs for Third Week on Weak Crude Prices

U.S. energy firms cut oil rigs for a third week in a row this week, data showed on Friday, a sign the latest crude price weakness was causing drillers to put on hold plans announced several months ago to return to the well pad.   Drillers removed 8 rigs in the week ended Sept

Sanctioned Shipyard Hopes for Icebreaker Deals

On a sunny day on the Helsinki seafront, sparks fly from steel welding at the bustling Arctech shipyard, which seems insulated from Finland's economic recession as it strives to meet an order book that stretches into 2017. The world's biggest manufacturer of icebreakers

Asia-Europe Box Rates Plunge 23 pct

Shipping freight rates for transporting containers from Asia to Northern Europe fell 23 percent to $588 per 20-foot container (TEU) in the week ended Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.

China Shipping Line to Buy 10 Vessels

Photo: China Shipping Container Lines Co

 China Shipping Container Lines Co is planning to buy around 10 ultralarge container ships for around $1.5 billion, despite the shipping industry struggles with a capacity glut, reports WSJ.   The company wants to fulfill capacity commitments in its Ocean Three alliance with

Malaysia, Indonesia Team up to Fight Piracy

Photo: Malaysian Maritime Enforcement Agency

 An increase of incidents of piracy and armed robbery in SouthEast Asia has prompted Malaysian and Indonesian law enforcement to form a joint rapid deployment team in response, says a report in Reuters.   According to reports, the joint force will deploy three helicopters to secure the

Busan LNG Bunkering Terminal by 2020

Photo Source: Busan New Container Terminal

 A new liquefied natural gas (LNG)-bunkering terminal may become operational at South Korea's Busan New Port by 2020.    South Korean shipping company Polaris Shipping will reportedly invest $500 million (KRW 600 billion) to construct the facility.  

EU Tries to Clear 'Fog of Confusion' Over US Trade Pact

The European Commission will publish detailed reports on its negotiations with the United States to forge the world's biggest trade pact, EU trade chief Cecilia Malmstrom said on Friday, responding to criticism that the talks have been shrouded in secrecy.  

Indonesian Navy Destroys 38 Foreign Fishing Boats

Indonesias Minister for Maritime and Fisheries, Ms Susi Pudjiastuti. Photo: Ministry Sources.

 Indonesian military has sunk 34 impounded foreign boats, the latest bid to deter vessels from illegally fishing in the world's biggest archipelago nation.     The vessels, which came from Vietnam, the Philippines, Thailand and Malaysia

Tianjin Resumes Commodity Port Ops

Oil, gas and iron ore imports resume after disruptions; Strategic oil reserves in the region not affected. Many operations have resumed at China's Tianjin port, trade sources said, after explosions last week that killed more than 100 people and disrupted business at what is an important oil

Maersk Cuts Growth Forecast

Photo: Maersk Line

 Though the Danish conglomerate AP Møller-Maersk posted higher-than-expected earnings, it has cut its forecast for global trade growth and abandoned several medium-term profit forecasts, as per a report in FT.   Maersk overcame low oil prices and freight rates in its container

Scottish Exporters Bullish on New Shipping Service

BG Rotterdam. Photo: B.G. Freight Line B.V

 As the shipping operator BG Freight Line is set for a new freight service connecting the links, Scotland’s food and drink, chemical and manufacturing industries are looking for a boost.   BG Freight Line, wholly-owned by Clydeport owner Peel Ports

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