COSCO Delivers Second Stingray to Maersk
China’s COSCO (Dalian) Shipyard has delivered the subsea support vessel “Maersk Involver” to offshore marine contractor Maersk Supply Service (MSS). The 9,785 dwt vessel delivery follows the “Maersk Installer”, who was handed over in October this year. This is part of a batch four Stingray-class vessels ordered by Maersk from Cosco. The vessel boasts 400 ts AHC crane, dynamic positioning class 3 and measures 11 meters high, 27 meters wide and 137 meters long. "The delivery documents were signed by COSCO (Dalian) Shipyard Co., Ltd. and the buyer on 28 November 2017," said a statement from the company. The delivery dates for the four vessels were postponed in mid-2017 due to the current market situation with new dates ranging from summer 2017 to spring 2018.
China’s Currency Devaluation Good for Shipping
The depreciation of the Chinese currency will help both international and domestic shipping operators in the region that have been stuggling of late with growing costs and rising competition, says Maersk. Xinhua quoted Tim Smith, chairman of Maersk China and chief representative of Maersk Group North Asia sa saying that the business prospects in China despite the global trade downturn and question marks over the impact of the recent weakening of the yuan. The group's revenue in China has roughly doubled since 2009, which is the biggest origin market for its container shipping business, he said. He also revealed his company is looking to order more vessels from Chinese shipbuilders…
Shipping Disruptions: Japan Battles Back
Japan is waging a public relations war as it struggles to control the nuclear contamination threat at home while playing down the concerns of consumers abroad. Fears of tainted goods from the battered nation are affecting trade flows, with regional weather distributing radiation particles and hysteria across Asia. In South Korea, panic over radioactive rain in March saw schools shut down en masse, despite the minute level of radiation posing no known health risks. In Hong Kong in April…
CSBC To Build Containerships For Maersk
China Shipbuilding Corp. (CSBC) has reportedly won a contract to build two more small container vessels for Maersk Line, which already has four vessels on order with the Taiwanese company. According to market sources, the two new ships will have 2,000 teu capacity. CSBC is currently at work on four 2,000 teu vessels for Maersk Line, the first of which is scheduled for delivery in December, with the remaining three due by June 2000. CSBC has earlier delivered 10 ships to A.P. Moeller.
