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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).

Steamship Reports Strongest Results

The Steamship Mutual Underwriting Association (Bermuda)  achieved a combined ratio of 78.6% for the 2014-2015 policy year, one of the strongest results in its 100-plus years of existence.

Hellenic Ship Finances Look Up

The overall Greek loans of Hellenic maritime companies and ship owners (drawn and committed but undrawn) rose to $64.019 billion by the end of 2014, 4.1% higher than the $61.

Fincantieri Reports Loss in Q1

Italian shipbuilder Fincantieri has fallen to a loss in the first quarter as financial costs rose.   Fincantieri ended the first quarter of 2015 with Euro1.11

Hapag Lloyd Back in the Black

 German container line Hapag-Lloyd has defied the challenging market environment in the containership market and returned to profit in the first quarter of 2015

NYK Orders Three LNG Carriers

 Nippon Yusen Kabushiki Kaisha (NYK Line) has concluded time-charters for two new LNG carriers with Diamond Gas International, a Singapore affiliate of Mitsubishi Corporation.

Sainty Marine in Troubles Waters

 Financially troubled Chinese shipbuilder Sainty Marine has announced Bank of China and China Exim Bank have frozen its bank accounts.   Shenzhen-listed Sainty

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