Hyundai to Build 2 LNG carriers for Knutsen
Norwegian shipping company Knutsen said that Shell signed separate agreements for four LNG carriers with affiliates of Knutsen liquefied natural gas (LNG), two LNG carriers with Korea Line Corporation and two LNG Carriers with Global Meridian Holdings Limited.The LNG carrier owner and ship management company informed that the 174,000 cbm LNG carriers will be built by Hyundai Heavy Industries and Hyundai Samho Heavy Industries.The new vessels will all be equipped with efficient dual-fuel X-DF engines, boil-off management plants, air lubrication systems and shaft generators for auxiliary power. They will be integrated into Shell’s time-chartered trading fleet.Dr Grahaeme Henderson…
EU Endorses Dutch Financing Scheme
The European Commission has authorized, under the EC Treaty’s state aid rules, a state guarantee scheme introduced by The Netherlands. Guarantees will be granted to financial institutions providing loans to Dutch shipyards in order to finance the construction of ships. Guarantee premiums will be charged and vary according to the risk of the loan. The premium level will cover the risks of payments and the administrative costs generated by the scheme. Consequently, the scheme should be self-financing. This measure therefore does not constitute state aid and does not threaten to distort competition in the single market. EU Competition Commissioner Neelie Kroes said: “Financial institutions remain reluctant to grant financing to shipbuilding…
China's Shipbuilding Industry Sees Rapid Growth
China's shipbuilding industry continues to grow rapidly with shipbuilders getting new orders totaling 16.08 million deadweight tons in the first half of the year, a 113-percent rise over the same period last year, the National Development and Reform Commission (NDRC). The NDRC said shipbuilders hold total orders of 50.92 million deadweight tons in the first half of the year with an increase of 43 percent, accounting for 20 percent of the world's market share. The national Medium-and Long-Term Plan of the Shipbuilding Industry, which was approved in August by the State Council, the country's cabinet, said the industry should accelerate its restructuring and upgrading to become strong enough to drive the growth of related sectors.
