Ship Sales

Uni Asia Forms New Subsidiary and Buy a New Vessel

 Uni-Asia Holdings Limited has acquired a new wholly owned Panama-incorporated company known as Fortuna Containership S.A. as a ship owning subsidiary for the purpose of acquiring a 3,

Box Ships Enters Financial Deal

 Athens-based Box Ships has announced that it has secured a two year extension on a loan facility with ABN Amro, which was scheduled to mature next month.   Following this extension,

China Huarong in Distress

 China Huarong Energy Co, formerly known as China Rongsheng Heavy Industries, said in a regulatory filing that a memorandum of understanding on the disposal of assets to an unnamed buyer has expired.

Bahri Goes to Hyundai Samho for Five More VLCCs

 Immediately after signing contract with signed with Hyundai Samho Heavy Industries to build five VLCCs, with an option to build additional five VLCCs, the National

Confidence Low in Shipping Idustry

 Confidence levels in the global shipping market have fallen to a seven-year low as a glut of cargo ships, weak freight rates and excess liquidity continue to batter the industry,

China, France Sign deal Shipping

 Industrial cooperation is high on the agenda during Premier Li Keqiang's stay in France. China's deals with the world's third largest container shipping group - CMA CGM was highlight.

Samsung Bags $4.7bn Order for 3 FLNG from Shell Gas

 South Korean shipbuilder Samsung Heavy Industries Co. as won a 5.2 trillion won (US$4.7 billion) order to build three floating liquefied natural gas (FLNG) facilities, reports Yonhap.

Esben Poulsson, New President for Singapore Shipping Association

The Singapore Shipping Association (SSA) has named Asian shipping veteran Esben Poulsson as its new president, succeeding Evergreen’s Patrick Phoon.    “I am

DryShips Sells Six Aframax Tankers

Dry bulk and petroleum cargo shipper DryShips Inc., through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore contract drilling oil services, announced

Teekay Sells FPSO, Announces Dividend Boost

Teekay Corporation to complete sale of the Knarr FPSO and announces dividend increase of 75 percent   Teekay Corporation announced today that its board of directors

Global Ship Lease Extends Panamax Charter with X-Press Feeders

 Global Ship Lease, Inc. has agreed to extend the time charter for the Ville d'Orion, a 1997-built, 4,113 TEU vessel currently on charter with Sea Consortium Pte Limited,

Hyundai Sees Mega Ships Leading Global Demand

 As the demand for mega vessels has increased, Hyundai Heavy Industries Co. expects mega- sized container ships to lead global orders until early next year as shipping

Crisis Not Affected Greek Shipping: Morgan Stanley

 Most the major Greek-controlled and listed carriers are registered in Greece, and they all have their liquidity placed in banks abroad.   Morgan Stanley analyst

Dalian Shipbuilding Wins Cosco Order for 7 Ships

 Dalian Shipbuilding Industry Corporation (DSIC) has announced an order win for two 319,000 dwt VLCCs and five 72,000 dwt product tankers from Cosco Dalian, the

Cosco Orders of 20,000-TEU Ships may Go Up to 13

 Several media outlets now report confirmations that Cosco is also targeting ultra-large vessels by ordering nine ships of 20,000 teu, with options for four additional vessels.

More Legal Woes for Bankrupt OW Bunker

 A group of 27 Danish institutional investors say they will launch a legal action against the former management of OW Bunker, a shipping company that filed for

Greece's Creditors Take Aim at Shipowners

 Greece's international lenders are asking the debt-laden country to hike vessel tax, according to a report in the Financial Times. The shipping sector is a vital generator of income for Greece.

Gasum, Anthony Veder Pact for a New LNG Carrier

 Finnish natural gas importer Gasum and Dutch gas tanker ship-owner Anthony Veder have signed an agreement for a long term time charter of a new ICE Class 1A Super LNG carrier.

Star Bulk Sells Star Christianna

  Star Bulk Carriers Corp., a global shipping company providing transportation solutions in the dry bulk sector, today announced the sale of M/V Star Christianna (a 74,

Varun Splits into Two

 Mumbai-based shipping firm Varun Shipping Co. Ltd  will be split into two listed entities after the Bombay high court approved a demerger scheme.   The Company

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