Ship Sales

Greek Shipping – Still Number One!

 Despite the many domestic and market challenges facing the Hellenic ship owning community, Greece has continued to strengthen its position as the largest ship owning nation in recent years,

China Shipbuilding Plans Major Restructuring

 State-owned China Shipbuilding Industry Corp (CSIC) is undertaking a major restructuring as it grapples with an industry downturn, and it will be the largest restructuring

DSME, Sovcomflot Delay Delivery of First Arctic LNG carrier

 South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) and Sovcomflot have agreed to delay a liquefied natural gas carrier being built for the Yamal LNG project in Russia.

DSME Reveals Additional Self-Restructuring Plan

 South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has  revealed an additional self-restructuring plan amid the falling shipbuilding orders.

Maybulk on Selling Spree

 Malaysian Bulk Carriers Bhd (Maybulk) is said to be putting two more vessels up for sale, says The Edge, a local media.   This comes on the heels of reports

Creditors Putting Pressure on Samsung Heavy

 The restructuring issue of Samsung Heavy Industries (SHI) will spread to the entire Samsung Group as its main creditor Korea Development Bank(KDB)  and the financial

Zhonggu Shipping to Add Boxships

 Shanghai's Zhonggu Shipping may buy 3,398-TEU Stadt Aachen, that was up for sale for US$7.1 million, say local media reports.   Zhonggu Shipping earlier stated

China VLCC Sells Two VLCCs

China Energy Transport Co., Ltd. (China VLCC) has sold two secondhand VLCCs to an unrelated third party for a total price of $117.5mln.   China VLCC is 51 percent

EIG names Odebrecht, shipyards in Petrobras suit

Investment management firm EIG Management Co added Brazil's engineering conglomerate Odebrecht SA and a few other shipyards in its $221 million fraud suit against Petroleo Brasileiro SA.

Hellenic Wind sold for Demolishing

Hellenic Carriers Limited, an international provider of marine transportation services for dry bulk cargoes, on 17 May 2016 sold the Company’s vessel HELLENIC WIND (74,

Asian Shipyards: Outside The Usual Suspects?

 Although many builder countries struggled to win new orders in 2015, yards in the Philippines, Vietnam and Taiwan managed to increase their combined share of global

NordLB Eyes Full-Year Loss

German state-backed lender NordLB now expects to report a loss in 2016 after non-performing loans in shipping, where it is one of the world's top lenders, helped

Sonatrach Orders LPG Vessel from China

 Algeria’s state-run oil company Sonatrach has awarded two Chinese firms a $40 million deal to deliver a liquefied petroleum gas (LPG) carrier and an option to provide a second vessel,

Ship Finance Sells VLCC for $24 Mln

Ship Finance International Limited announced that it has agreed to sell the 1998 built VLCC Front Vanguard to an unrelated third party.   Ship Finance has simultaneously

Genting HK Orders 10 Cruise Ships Worth $4 bln

 Genting Hong Kong, a unit of Malaysia's gaming giant Genting, is building 10 cruise ships worth 3.5 billion euros ($4 billion) in anticipation of higher demand from the Chinese market.

World's Biggest Cruise Ship Sets Sail

 The world's largest cruise ship, Harmony of the Seas – which cost US$1 billion to build over 32 months – has been finished and was delivered to owner Royal Caribbean International.

ASL Marine Secures New Contracts

 Shipbuilder ASL Marine  has secured a total S$156 million worth of contracts from its shipbuilding, shiprepair & conversion, shipchartering and dredging engineering divisions.

HHIC Seals Deal with Creditors

Cash-strapped  South Korean shipbuilder Hanjin Heavy Industries & Construction (HHIC)  has signed a memorandum of understanding (MOU) with its creditors to receive a KRW 120bn ($103m) cash injection,

Nine New Orders for South Korean Shipbuilders

 While South Korean shipbuilders are continuing to struggle for survival as the recession in the global shipbuilding market drags on, they have clinched new orders

With Zero Orders in April, Korean Shipbuilding Goes Dark

Korean shipbuilders, who once dominated the global market, received zero orders in April, says Clarksons Research Services.   A report in Korea JoongAng Daily

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