Ship Sales

Rieber offloads Polar Prince

 GC Rieber Shipping has entered into an agreement to sell subsea vessel "Polar Prince", which the company had built in 1999.   The transaction gives GC Rieber

NordLB Back to Profit

 Although the crisis is not over in all segments, Germany's second-largest marine lender, Nord LB, said its shipping loan portfolio turned a corner in the first

Navios to Expand Fleet with Two VLCCs

 Monaco-based tanker owner and operator Navios Maritime Midstream Partners (NAP) plans to launch syndication of a USD 205 million Term Loan B to finance the purchase

Shreyas Shipping Turns Around

 Shreyas Shipping and Logistics swung to a net profit of Rs. 61.75 crore (about $9.6 million) in the fiscal year ended March 31, a big turnaround from its loss of Rs.

Tanker Demand Picks-up in Canada

 Canada’s role in the oil industry has changed dramatically in recent years driven by synthetic crude oil production in the oil sands of Alberta.   New plans for Energy East,

Hyundai Heavy Delivers 2,000th Ship

 Hyundai Heavy Industries (HHI) has become the world's first shipbuilder to deliver its 2,000th ship. The world's largest shipbuilding company delivered a drillship, "Ocean BlackLion," to U.

Bahri Inks Contracts with Hyundai to Build 5 VLCCs

 The National Shipping Co. of Saudi Arabia (Bahri) signed contracts on Thursday with Hyundai Samho Heavy Industries (HSHI) to build five very large crude carriers (VLCCs),

Vinalines Plans Ports Divestment

 The Vietnam National Shipping Lines (Vinalines) and the Ministry of Transport (MOT) hope the plan to reduce the state’s ownership ratio in the big shipping firm

Dubai Establishes Maritime Arbitration Centre

 The Dubai Maritime City Authority (DMCA) is in the final stages of completing the rules for the first maritime arbitration centre in the Middles East: the Emirates

37m Motor Yacht at Heesen Shipyard for Refit

Heesen Yachts, a Dutch shipbuilder specializing in custom superyachts, informs that the 37-meter semi-displacement full aluminum motor yacht ILONA, is now at its

HSH Nordbank Looking to Split Off Bad Shipping Loans

 HSH Nordbank AG, the world’s second-largest financier of ships, plans to split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model,

CSD, Cosco JV to Buy Vale's Bulk Carriers

 China Shipping Development (CSD) and Cosco have established a joint venture (JV), China Ore Shipping Pte., in Singapore to purchase four 400,000 dwt ore carriers from Vale and operate them.

World’s Greenest Containership Comes under Malta Flag

 MV Barzan, a vessel recognized as the world's most environmentally friendly ultra-large container vessel, has been registered on the Malta flag.   MV Barzan is one of 17 (11 x 15,

Bazil's Vale, China's CMES Sign VLOCs Agreement

 Brazilian mining giant Vale and the China Merchants Group (CMES) signed an expanded framework deal for strategic co-operation on iron ore shipments. Vale has agreed

Vale Concludes Sale of VLOCs to Cosco

 Brazilian miner Vale has completed the sale of four other large iron ore carriers to China Ocean Shipping Company (Cosco), which was agreed last September.    This

Vale to Sell 4 Large Iron Ore Carriers to CMES

Brazilian miner Vale said on Tuesday it agreed to sell four large iron ore carriers to China Merchants Energy Shipping Co (CMES) , as it looks to raise cash in the midst of an iron ore price slump.

LNG Drive: Helgoland Leaves Building Dock

 After almost nine months of construction has MS "Helgoland" the new LNG (Liquefied Natural Gas) ship of Cassen Eils from Cuxhaven, left the building dock of the Fassmer-Werft shipyard.

STX Bags Order for Eight LR1 Tankers

 South Korean shipbuilder STX Offshore & Shipbuilding (STX O&S) has won an order for up to eight LR1 tankers with a total value of $ 375 million.    The contract

Korean Shipyards Bullish on Mega Vessels

 As the construction of ultra large container ships gained momentum, Korean shipyards are sweeping up the market, according to a report appeared in Business Korea.

Sentinel Orders ERRV at Cosco Guandong

 China's COSCO (Guangdong) Shipyard has secured a contract from Aberdeen-based Sentinel Marine to build a TAERRV (Tanker Assist / Emergency Response / Rescue / Field Support Vessel).

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