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Shipping Co Ltd News

28 Feb 2024

US Hits Iran with New Sanctions Targeting Commanders, Shipping

© Creuxnoir / Adobe Stock

The United States targeted Iranian and Houthi commanders and a vessel that shipped more than $100 million in Iranian commodities to businesses in China in sanctions announced on Tuesday.Mohammad Reza Falahzadeh, deputy commander of Iran's Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), and Ibrahim al-Nashiri, a member of Yemen's Houthi militia, were designated under the sanctions, the Treasury Department said.The Iranian military has provided weapons and intelligence support to the Houthis that support the group's attacks on international shipping in the Red Sea…

14 Feb 2023

South Korean Partners to Develop Nuclear-powered Ships

(Photo: KAERI)

A group of partners in South Korea has set out to develop, demonstrate and commercialize vessels powered by small modular reactors (SMR).Nuclear power for ships has been gaining interest amid stricter greenhouse gas emissions regulations in the international shipping sector.Nine participating institutions, including KAERI, Gyeongsangbuk-do, Gyeongju-si, Korea Research Institute of Ships and Ocean Engineering (KRISO), Korean Register (KR), H-Line Shipping Co., Ltd., HMM Co., Ltd., Wooyang Shipping Co., Ltd., Sinokor Merchant Marine Co., Ltd.

09 Oct 2022

US Sanctions Firms Transferring Oil to North Korean Ships at Sea

The United States on Friday imposed new sanctions following North Korea's latest missile launches this week, targeting a fuel procurement network that Washington said supports Pyongyang's weapons programs and its military.Friday's action targeted two Singapore-registered companies and a Marshall Islands-registered firm, the U.S. Treasury Department said in a statement, as Washington seeks to hold North Korea accountable for ship-to-ship transfers that circumvent United Nations sanctions on the country."By designating these entities and individuals, the United States is sending a clear message that we will continue to take actions against those who support the development and sustainment of the DPRK’s military and weapons arsenal," U.S.

28 Sep 2022

Wing Sail-fitted VLCC Newbuild Delivered

New Aden (Photo: CCS)

A Chinese-built very large crude carrier (VLCC) fitted with fuel-saving and emissions-reducing wing sails has been delivered to China Merchants Group.The New Aden was handed over from Dalian Shipbuilding Industry Co., Ltd (DSIC) to China Merchant Energy Shipping Co., Ltd (CMES) on September 24. Built to China Classification Society (CCS) class, the newbuild tanker is equipped with two pairs of new generation rigid wing sails made of carbon fiber composite, which will provide auxiliary propulsion power to help reduce the vessel's fuel consumptions and emissions.

02 May 2022

NYK, CNOOC Sign Long-term Charters for Six LNG Carriers

Credit: NYK

Japanese shipping and logistics firm NYK has signed a long-term time-charter contract with CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd. for six liquefied natural gas (LNG) carriers, in addition to a shipbuilding contract for the vessels with Hudong-Zhonghua Shipbuilding (Group) Co. Ltd.This is NYK's first long-term time-charter contract for an LNG carrier with CNOOC. The six vessels are scheduled to be delivered between 2026 and 2027 and will be mainly engaged in LNG transportation to China.

24 Jan 2022

Nakilat Takes Delivery of Another LNG Carrier

Photo courtesy Nakilat

Nakilat took delivery of a newbuild LNG carrier, “Global Sealine”, which will be commercially and technically managed in-house by Nakilat Shipping Qatar Limited (NSQL). Built by Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea, this is the final LNG newbuild carrier to be delivered to Global Shipping Co. Ltd., a joint venture between Nakilat (60%) and Maran Ventures Inc. (Maran Ventures) (40%). Three of its sister vessels were delivered between 2020-2021 and are all under time charters. With a cargo carrying capacity of 174,000 cu.

26 Oct 2021

Shipbuilding: DSME Delivers another LNG Carrier to Nakilat

Nakilat has taken delivery of a newbuild LNG carrier, Global Sea Spirit, Photo courtesy Nakilat

Nakilat has taken delivery of a newbuild LNG carrier dubbed Global Sea Spirit, a ship to be commercially and technically managed in-house by Nakilat Shipping Qatar Limited (NSQL). Built by Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea, this is the third of four LNG newbuild carriers to be delivered to Global Shipping Co. Ltd., a joint venture between Nakilat (60%) and Maran Ventures Inc. (40%). The first two LNG carriers’ newbuilds (ME-GI type) were delivered in May 2020 and January 2021 respectively and are currently in service.With a cargo carrying capacity of 174,000 cu.

30 Sep 2021

GTT Tallies Tank Design Order for a New LNG Carrier from DSME

French engineering firm GTT said on Thursday it has received an order from Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME) for the tank design of a new liquefied natural gas (LNG) carrier on behalf of the Korean shipowner Hyundai LNG Shipping Co., LTD.As part of this order, GTT will provide the design and associated engineering services for the tanks of the vessel, which will offer a capacity of 174,000 cubic meters. The tanks will be fitted with the GTT NO96 GW membrane containment system, a technology developed by GTT.The vessel will be delivered in the first half of 2024.

22 Jun 2021

GTT Wins Tank Design Order for Hyundai's New LNG Carrier

Engineering form GTT said on Tuesday it has received an order from Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME) for the tank design of a new liquefied natural gas (LNG) carrier on behalf of Korean shipowner HYUNDAI LNG SHIPPING CO., LTD.As part of this order, GTT will design the tanks of the vessel which will offer a capacity of 174,000 cubic meters. The tanks will be fitted with the GTT NO96 GW membrane containment system, a technology developed by GTT, the company said.The vessel will be delivered at the end of 2023.

11 Jan 2021

Iran Tells South Korea Not to Politicize Seized Vessel

Iran said on Sunday that South Korea should avoid politicizing the seizure of its vessel by Iranian Revolutionary Guards in the Gulf, Iranian state media reported, while pressing Seoul to release $7 billion in funds frozen amid U.S. sanctions.South Korea’s vice foreign minister, Choi Jong-kun, arrived in Tehran on Sunday to discuss the release of the South Korean-flagged MT Hankuk Chemi, which was seized by the Guards on Monday near the strategic Strait of Hormuz.Iran has denied allegations that the seizure of the tanker and its 20-member crew amounted to hostage taking, and said it was Seoul that was holding Iran’s funds “hostage”.Iran’s…

05 Jan 2021

Iran Denies Seized Korean Ship and Crew Are Being Held as Hostages

Iran denied on Tuesday it was using a South Korean ship and its crew as hostages, a day after it seized the tanker in the Gulf while pressing a demand for Seoul to release $7 billion in funds frozen under U.S. sanctions.The seizure of the MT Hankuk Chemi and its 20-member crew near the strategic Strait of Hormuz has been seen as an attempt by Tehran to assert its demands, just two weeks before President-elect Joe Biden takes office in the United States.Iran wants Biden to lift sanctions imposed by outgoing President Donald Trump. Tehran's critics have long accused it of capturing ships and foreign prisoners as a method of gaining leverage in negotiations."We've become used to such allegations," Iranian government spokesman Ali Rabiei told a news conference.

04 Jan 2021

DSME Delivers Newbuild LNG Carrier to Nakilat

(Photo: Nakilat)

Qatar-based shipping company Nakilat said Monday it has taken delivery of a newbuild liquefied natural gas (LNG) carrier Global Star built by South Korea's Daewoo Shipbuilding & Marine Engineering (DSME).The 173,400 cubic meter capacity Global Star will be commercially and technically managed in-house by Nakilat. It is the second out of the four LNG carrier newbuilds to be delivered to Global Shipping Co. Ltd., a joint venture of Nakilat (60%) and Maran Ventures Inc. (Maran Ventures) (40%).The series' first newbuild, Global Energy, was delivered in May 2020.

05 Nov 2020

Australia Orders Repatriation of Overworked Bulker Crew

Australian officials have ordered the repatriation of nine Chinese and Filipino seafarers who have been working on board the bulk carrier Brio Faith for nearly two years without relief. The Panama-flagged bulker was inspected Monday in Port Alma, Queensland, where Australian Maritime Safety Authority (AMSA) personnel verified that three crew had been on board for over 12 months, four crew had been on board for over 16 months and two crew had been on board for over 20 months.During the inspection the operator Tianjin Shun Xin Yuan Shipping Co LTD assured AMSA, and provided evidence, that crew would be repatriated the following day.On Tuesday, the operator informed AMSA that those repatriation plans had fallen through.

20 Oct 2020

US Blacklists Chinese Entities, Individuals Over Iran Shipping Ties

© VanderWolf Images / Adobe Stock

The United States on Monday said it blacklisted two Chinese men and six Chinese entities for having dealt with Iranian shipping company Islamic Republic of Iran Shipping Lines (IRISL) and, in some cases, helping it to evade U.S. sanctions.The U.S. State Department named the entities as Reach Holding Group (Shanghai) Company Ltd.; Reach Shipping Lines; Delight Shipping Co., Ltd.; Gracious Shipping Co. Ltd.; Noble Shipping Co. Ltd.; and Supreme Shipping Co. Ltd.In a statement, it also said it had targeted Eric Chen…

09 Sep 2020

MAN Bags Orders for Engines Meeting China's New Emissions Rules

The MAN 21/31 engine (Image: MAN Energy Solutions)

MAN Energy Solutions said its Chinese license CMP has won a series of new small-bore, four-stroke orders within the Chinese inland-and-coastal segment. The orders are for MAN 21/31, 27/38 and 23/30H types and stem in great part from the Chinese government establishing new, impending, emission protocols for the segment with its GB15097 regulation – commonly known as C1 and C2.Finn Fjeldhøj, Head of Small-Bore, Four-Stroke Engineering, MAN Energy Solutions, said, “With the introduction of C1 and C2…

24 Jul 2020

TAS Terminates Shipbuilding Deals for 16 Offshore Vessels

Illustration - Image by corlaffra/AdobeStock

Malaysian offshore vessel operator TAS Offshore has canceled shipbuilding contracts for 16 offshore support vessels.The company had signed the contracts in the 2013-2015 period with two Chinese shipbuilders Guangzhou Hangtong Shipbuilding and Shipping Co. Ltd. (“HangTong”) and Jiangmen Hangtong Shipbuilding Co.The contracts were for 16 offshore support vessels with values ranging from $10.38 million to $39.38 million per vessel.The vessels had initially been slated for delivery between 2014 to 2017…

23 Jul 2020

CMS Completes First Major WinGD X-DF Engine Overhaul

CSSC Marine Service completed the first X-DF overhaul in nine days. (Photo: CSSC Marine Service Co)

China State Shipbuilding Corp (CSSC) equipment service subsidiary CSSC Marine Service Co (CMS) said it has completed the first ever major overhaul on two WinGD X-DF engines—in only nine days.The twin 6X62DF engines overhauled belong to the first ever X-DF powered vessel in operation, 2017-built 180,000-cbm liquefied natural gas (LNG) carrier SK Audace, owned and operated by SK Shipping Co. LTD. The work was performed while the ship was at the Sabine Pass anchorage in Texas.In the three years since vessel delivery…

20 May 2020

LNG Carrier Delivered to Nakilat

Photo: Nakilat

Qatari shipping company Nakilat took delivery of a newbuild liquefied natural gas (LNG) carrier Global Energy. Built by South Korea's Daewoo Shipbuilding & Marine Engineering (DSME), the vessel will be managed in-house by Nakilat and is the first of four LNG carrier newbuilds to be delivered to Global Shipping Co. Ltd., a joint venture of Nakilat (60%) and Greece-based Maran Ventures Inc. (40%). The delivery of all four newbuilds by end-2021 will bring Nakilat’s fleet to 74 LNG carriers…

27 Mar 2020

China Merchants Energy Shipping's Unit Orders and Sells Ships

China Merchants Energy Shipping Co Ltd  says it inked a deal to order four ships worth up to $118.7 million.It has also agreed to sell three ships worth $15 million to Sinopec Fuel Oil Singapore and Sinopec Fuel Oil Sri Lanka.

11 Dec 2019

Chinese Tanker Spurns Malaysian Inspections

An oil tanker, which shipping data showed was managed by a Chinese company under U.S. sanctions, refused to allow an inspection by maritime authorities while anchored in Malaysian waters, Malaysia's maritime agency said.Silvana III's commercial manager is Kunlun Shipping Co Ltd, according to shipping transparency website Equasis.org.Kunlun is one of several firms placed under U.S. sanctions this year for alleged involvement in transporting oil from Iran.The Malaysian Maritime Enforcement Agency (MMEA) said the Silvana III, which anchored off Kuala Kurau on Malaysia's west coast on Dec. 5, did not follow instructions to drop its ladder to allow officers to conduct checks."After several attempts to instruct the ship to drop ladder were not heeded…

16 Oct 2019

Partners Developing LNG-fueled VLCC

© Carabay / Adobe Stock

Partners involved in a new joint development project (JDP) have set out to design a very large crude carrier (VLCC) that will run on liquefied natural gas (LNG) fuel.Lloyd's Register (LR), China Merchants Energy Shipping Co., Ltd. (CMES), CNOOC Gas and Power Group, Dalian Shipbuilding Industry Co., Ltd. (DSIC), and GazTransport and Technigaz SA (GTT) have teamed up to evaluate design options for an LNG-fueled VLCC that uses a prismatic GTT Mark III membrane LNG tank. The scope of the JDP includes reviewing solutions to minimize construction costs for LNG-fueled ships…

24 Jun 2019

Incat Crowther Designs Korean Ferry

Photo: Incat Crowther

Incat Crowther has announced a contract to design a 65m catamaran passenger ferry for operation in Korea. The Incat Crowther 65 will be built by Khan Co., Ltd of Geoje-si, Korea and operated by Dolphin Shipping Co., Ltd.The vessel will provide a vital link between Pohang, on mainland Korea and the island of Ulleung-do, where it will be the second largest vessel on the route. It will be the first locally-built high-speed ferry on the route.Incat Crowther will work with Khan to develop the construction capability for aluminium high speed light vessels…

22 Apr 2019

Naming Ceremony for Cameron Project LNG Carrier

Photo: NYK Group

On April 19, a naming ceremony was held at the Nagasaki Shipyard of Mitsubishi Heavy Industries Ltd. for a new liquefied natural gas (LNG) carrier owned by a joint company established by NYK, the Mitsubishi Corporation (MC), Toho LNG Shipping Co. Ltd. (Toho LNG Shipping),* and Tohoku Electric Power Co. Inc. (Tohoku Electric Power).At the ceremony, the ship was named “Diamond Gas Sakura” by Yoshiro Tominari, representative director and president of Toho Gas Co. Ltd., and Toshinori Abe…