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China Shipbuilding Trading Company News

08 Mar 2023

Performance Shipping Orders LNG-ready LR2 Tanker

© chakarin / Adobe Stock

Greek shipping company Performance Shipping on Wednesday announced it has signed a shipbuilding contract with China Shipbuilding Trading Company Limited and Shanghai Waigaoqiao Shipbuilding Company Limited for a newbuild LR2 Aframax product/crude oil tanker.The 114,000 DWT vessel was ordered for for a contract price of $62.6 million, net of commission to third party, Performance Shipping said. The company noted that 15% of the purchase price is payable upon receipt of a refund guarantee…

25 Jan 2023

Grimaldi Orders More Ammonia Ready Car Carriers

(Image: Grimaldi Group)

The Grimaldi Group announced it has exercised its option for the construction of five additional ammonia-ready 9,000 CEU car carriers from China Merchants Heavy Industries Jiangsu, part of China Merchant Industry Holdings (CMI).Grimaldi announced its initial order for five new pure car and truck carrier (PCTC) vessels from CMI in October. The 10 vessels are scheduled to be delivered between 2025 and 2027 and will be deployed on voyages between Europe, North Africa, and the Near and Far East.Grimaldi said it developed the vessel concept in collaboration with naval architecture firm Knud E.

05 Aug 2022

SBM Orders Seventh Fast4Ward Hull

For Illustration - Liza Unity is Guyana's second FPSO in production. - Image Credit: SBM Offshore

Dutch FPSO leasing specialist SBM Offshore has ordered its latest Fast4Ward multi-purpose floater hull as it marked a new record level order book at $31.1 billion. The latest Fast4Ward floating production unit (FPU) is expected to be delivered in 2024, the firm said yesterday in its half year earnings. It also said it could have near-zero emissions FPSO available to the market by 2025. "Our market outlook for new FPSOs remains positive as the world requires energy which is not only sustainable, but also affordable and reliable," said Bruno Chabas, CEO of SBM Offshore.

19 May 2020

China's DSIC Delivers VLCC CSSC Liaoning

Newbuild tanker CSSC Liaoning (Photo: DSIC)

The 308,000 DWT very large crude carrier (VLCC) CSSC Liaoning, constructed for a leasing company of China Shipbuilding Trading Company (CSTC) by Dalian Shipbuilding Industry Company (DSIC), was christened and delivered on May 8.The new generation VLCC independently developed by DSIC has a total length of 332.95 meters and a molded breadth of 60 meters. When the navigational draft is 20.5 meters, the ship can normally lade 2 million barrels of crude oil through the Straits of Malacca…

21 Nov 2018

SBM Orders Second Fast4Ward FPSO Hull

The contract signing ceremony took place at SWS shipyard on November 21, 2018, with representatives from SBM Offshore, including Bruno Chabas (CEO), Bernard van Leggelo (China Managing Director) and Srdjan Cenic (General Manager China), as well as Lei Fanpei, Chairman of board of CSSC and Wang Qi, Chairman of board of SWS. (Photo: SBM Offshore)

SBM Offshore signed a contract Wednesday for a second hull in its planned series of Fast4Ward floating production, storage and offloading units (FPSO) with Chinese shipyard Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd. (SWS).The order, which coincides with a keel laying ceremony for SBM's first Fast4Ward hull at the Shanghai shipyard, has been made before any engineering, procurement and construction (EPC) contract for the second hull. The Dutch company cited "continuing…

13 Nov 2018

Wan Hai Lines Confirms Orders for 20 Newbuilds

Taiwanese container carrier Wan Hai Lines confirmed an order of 20 container vessels with Japan Marine United Corporation (JMU) and Guangzhou Wenchong Shipyard (GWS) and China Shipbuilding Trading Company (CSTC).During the contract signing ceremony that was held at Wan Hai Lines’ Taipei headquarter on 12th November 2018, the Taiwan's shipping company said that the new order was part of its fleet improvement plan.The contract includes eight 3036Teu container vessels with JMU and twelve 2038Teu container vessels with GWS /CSTC, it said in a press release.At the same time, Wan Hai has the option to declare an additional four 3036Teu vessels within 6 months and four 2038Teu vessels within 3 months.

18 Dec 2017

Guangzhou Shipyard Bags Order for Seven Tankers from Cosco Shipping

Cosco  Shipping Energy Transportation (CSET) has placed an order for seven more ships at compatriot Guangzhou Shipyard International Company Limited (GSI), owned by CSSC Offshore & Marine Engineering Company Limited. The order will include two 64,900 dwt crude oil tankers, two 109,900 dwt LR2 vessels and three 114,000 dwt crude tankers, totaling in an investment worth approximately USD 323 million (RMB 2.14 billion.). Expected delivery dates for the two 64,900 dwt panamax crude tankers are on or before 29 February 2020 and 31 May 2020, respectively. The two 109,900 dwt LR2/Aframax clean products/crude oil carriers of 109,900 dead have expected delivery dates of on or before 31 October 2020 and 31 January 2021, respectively.

01 May 2017

Eimskip Gets Finance Deal for New Container Vessels

Eimskip has secured 80% financing of the contract price of the vessels with a 15 year tenor in Euros taken upon delivery. The lender is the German bank KfW IPEX-Bank GmbH. The loan is secured by China Export & Credit Insurance Corporation (Sinosure). On 25 January, Eimskip signed a contract with China Shipbuilding Trading Company Limited and Guangzhou Wenchong Shipyard Co. Ltd. to build two 2,150 TEU container vessels. The contract price of each vessel is approximately USD 32 million and the vessels are expected to be delivered in 2019. The payment profile of the vessels is that 40% of the contract price is paid during the building period and 60% upon delivery. The contract was subject to financing and that has now been lifted.

16 Apr 2017

China Hands Over Third Patrol Ship to Pakistan

China has handed a 600-ton patrol ship over to Pakistan’s maritime safety authority in Guangzhou, Guangdong province, PTI reported. The new ship, just the third of its kind, was built by China Shipbuilding Trading Company Ltd. (CSTC) and China State Shipbuilding Corporation (CSSC) Xijiang Shipbuilding Co., Ltd. Among other things, the ship will be used to safeguard Pakistan’s maritime interests, People’s Daily reported. Its two predecessors have already demonstrated their reliability and excellent performance during visits and exchanges, joint drills, maritime rescue and other missions in Pakistan. Pakistan's maritime safety authority expressed great appreciation for the quality of the ships and for sound cooperation with Chinese ship manufactures…

25 Jan 2017

Eimskip, RAL Order Containerships from China

Images: Eimskip

Iceland’s Eimskip and Greenland’s Royal Arctic Line (RAL) have signed an agreement to share capacity, and together ordered three new ice-class containerships to be built in China. Eimskip said it has finalized contracts with China Shipbuilding Trading Company Limited and Guangzhou Wenchong Shipyard Co. Ltd. for the construction of two 2,150 TEU container vessels, and RAL also signed a contract for one vessel of the same type from the same shipyard. With a length of 180 meters and breadth of 31 meters…

22 Dec 2016

Diana Shipping Grants Lower Price for Bulker Duo

Diana Shipping Inc. Diana Shipping Inc., today announced that, through two separate wholly-owned subsidiaries, it has signed two addenda with China Shipbuilding Trading Company, Limited and Jiangnan Shipyard (Group) Co., Ltd., collectively called the “Seller”, among other things, to reduce the contract price and to change the delivery date of the two Newcastlemax dry bulk carriers, Hull No. H2548 (to be named “San Francisco”) and Hull No. H2549 (to be named “Newport News”). As previously announced, the contract price was US$48.7 million per vessel and now the Seller has agreed to reduce this price by US$1.0 million for each of the abovementioned vessels. The delivery date of the two vessels is now expected to be on January 4, 2017.

03 Oct 2016

Diana Shipping Delays Newcastlemax Delivery

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through two separate wholly-owned subsidiaries, it signed two addenda with China Shipbuilding Trading Company, Limited and Jiangnan Shipyard (Group) Co., Ltd., to extend the delivery dates of the two Newcastlemax dry bulk carriers, Hull No. H2548 and Hull No. H2549. The delivery date of the Hull No. H2548  has been extended from September 29, 2016 to not earlier than December 26, 2016 and not later than December 30, 2016 while the delivery date of the Hull No. H2549 has been extended from November 30, 2016 to not earlier than March 13, 2017 and not later than March 20, 2017.

17 May 2016

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, according to a Sonatrach document seen by Reuters. Sonatrach's Hyproc Shipping Company chose Chinese consortium Jiangnan Shipyard and China Shipbuilding Trading Company Ltd for the provision of a carrier with a capacity of between 11,000 and 13,000 m3, the document said. It said an offer from Hyundai Mipo Dockyard, a South Korean consortium, had been rejected. Algeria is boosting its transport capacity to meet growing European Union gas demand. Sonatrach currently owns a fleet of ten LPG carriers through its subsidiaries Hyproc Shiping and Sonatrach Petroleum Corporation.

09 Dec 2015

Diana Shipping Time Charter Contract for Seattle with SwissMarine

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels,  has announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Seattle. The gross charter rate is US$7,300 per day minus a 4.75% commission paid to third parties, for a period of about eleven (11) months to maximum fourteen (14) months. The charter is expected to commence on December 9, 2015. The “Seattle” is a 179,362 dwt Capesize dry bulk vessel built in 2011. This employment is anticipated to generate approximately US$2.3 million of gross revenue for the minimum scheduled period of the time charter.

20 Apr 2015

African, Chinese Shipbuilders Form Partnership

Prasheen Maharaj (left), CEO of Southern Africa Shipyards, seals the deal with Ye Fengsheng of China Shipbuilding Trading Company. (Photo courtesy of SAS)

Southern African Shipyards (SAS) has entered into a Memorandum of Understanding (MOU) with China Shipbuilding Trading Company (CSTC), a subsidiary of China State Shipbuilding Corporation, in a union between the largest shipyard in Southern Africa and the largest shipbuilding group in the world. Operation Phakisa was launched by President Jacob Zuma in 2014. One of its two key focus areas is to develop South Africa’s maritime economy in sectors such as marine transport and manufacturing and offshore oil and gas.

19 Jul 2012

Fairstar Confirms Commitment to Third New Ship

Fairstar Heavy Transport N.V. (Fairstar) confirms that on 3 May 2011 Fairstar had entered into a Shipbuilding Contract with a face value of $110 million with China Shipbuilding Trading Company Limited (CSTC) and Guangzhou Shipyard International Company Limited ("GSI") concerning the acquisition and building of a fifth vessel (MV Fathom), identical to the two earlier new builds MV Forte and MV Finesse. This Shipbuilding Contract was amended by a Memorandum of Agreement to the Shipbuilding Contract on 23 May 2012 to the extent that Fairstar was obliged to make payment of the First and Second Instalments under the Shipbuilding Contract by 20 June 2012.

29 Mar 2012

Diana Shipping Signs Contracts for Two Dry Bulk Carriers

Athens, Greece - Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, announced that it has signed, > through separate wholly-owned subsidiaries, two shipbuilding contracts with China Shipbuilding Trading Company, Limited and Jiangnan Shipyard (Group) Co. Ltd., for the construction of two Ice Class Panamax dry bulk carriers of approximately 76,000 dwt each for a contract price of $29 million per vessel. The Company expects to take delivery of the vessels during the fourth quarter of 2013. Excluding the two vessels described above and the previously announced  Newcastlemax new-building dry bulk carrier expected to be delivered during the second quarter of 2012…

10 May 2011

Costamare Shipbuilding, Chartering, Financing Contracts

Costamare Inc. (NYSE: CMRE) announced the conclusion of shipbuilding contracts and charter agreements for five newbuild containerships, new chartering agreements for certain containerships in the water, and the completion of financing arrangements for two previously contracted newbuild containerships. The company has ordered from Sungdong Shipbuilding & Marine Engineering Co., Ltd. of Korea five newbuild containerships, each of approximately 8,800 TEU capacity. The five newbuild containerships are expected to be delivered between the first and the third quarters of 2013. The company has entered into long-term time charter agreements with members of the Evergreen Group for the employment of each vessel immediately upon delivery.

23 Feb 2011

Costamare Q4 & Year End Report

Costamare Inc. (NYSE: CMRE), an international owner of containerships, reported unaudited financial results for the fourth quarter and for the year ended December 31, 2010. Voyage revenues of $85.7 million and $353.2 million for the three months and the year ended December 31, 2010, respectively. Adjusted EBITDA of $56.2 million and $223.6 million for the three months and the year ended December 31, 2010, respectively. Net income of $11.8 million or $0.21 per share and $81.2 million or $1.65 per share for the three months and the year ended December 31, 2010, respectively. Adjusted Net Income of $18.0 million or $0.33 per share and $73.8 million or $1.50 per share for the three months and the year ended December 31, 2010, respectively.

03 Feb 2011

Costamare Shipbuilding, Chartering, Fleet Renewal Contracts

Costamare Inc. (NYSE: CMRE) announced that it has contracted with Sungdong Shipbuilding & Marine Engineering Co., Ltd. for the construction and purchase of two newbuild containerships, each of about 9,000 TEU capacity. The two newbuildings are expected to be delivered by the end of 2012. The Company has entered into time charter agreements with MSC for the employment of each vessel immediately upon delivery, for duration of ten years. Both the contract price and the daily charter rate are similar to those recently agreed regarding the three 9,000 TEU vessels contracted with China Shipbuilding Trading Company Limited and Shanghai Jiangnan Changxing Heavy Industry Co., Ltd. and chartered to MSC for a period of 10 years.

01 Feb 2011

Costamare Invests in Fleet Expansion

Costamare Inc. (NYSE: CMRE) announced that it has contracted with Sungdong Shipbuilding & Marine Engineering Co., Ltd. for the construction and purchase of two newbuild containerships, each of about 9,000 TEU capacity. The two newbuildings are expected to be delivered by the end of 2012. The Company has entered into time charter agreements with MSC for the employment of each vessel immediately upon delivery, for duration of ten years. Both the contract price and the daily charter rate are similar to those recently agreed regarding the three 9,000 TEU vessels contracted with China Shipbuilding Trading Company Limited and Shanghai Jiangnan Changxing Heavy Industry Co., Ltd. and chartered to MSC for a period of 10 years.

19 Apr 2010

Diana Shipping Contract for Dry Bulk Carriers

Diana Shipping Inc. (NYSE:DSX), a global shipping transportation company specializing in dry bulk cargoes, announced that it has signed, through its 100% owned subsidiaries, two shipbuilding contracts with China Shipbuilding Trading Company, Limited and Shanghai Jiangnan-Changxing Shipbuilding Co., Ltd for the construction of two Newcastlemax dry bulk carriers of approximately 206,000 dwt each for a contract price of $59m per vessel. The company expects to take delivery of the vessels during the second and third quarters of 2012, respectively. The company is considering obtaining pre- and/or post-delivery financing for the specific acquisitions.

30 Apr 2009

Danaos Corp 1Q Report

Danaos Corporation (NYSE: DAC), an international owner of containerships, reported unaudited results for the period ended March 31, 2009. •    Net earnings on a comparable basis of $20.0 million or $0.37 per share for the quarter ended March 31, 2009 compared to $25.9 million or $0.48 per share for the respective period of 2008, adjusted for a gain on sale of vessels of $5.6 million recorded during the first quarter of 2008. •    Operating revenues of $75.3 million for the quarter ended March 31, 2009 compared to $69.9 million for the respective period of 2008. •    EBITDA on a comparable basis of $47.9 million for the quarter ended March 31…