Midsize News

Classification society ABS said it has granted an approval in principle (AIP) to OceanSTAR Marine & Offshore Investment Pte. Ltd., for its newbuild floating storage and offloading (FSO) design.The OceanSTAR FSO-01 is a shipshape hull design specifically developed to cater to midsize FSOs with a storage capacity to scale up to 750,000 barrels of oil for operational demands in Asia Pacific and African coastal offshore fields. Other features include a larger strengthened deck area…

EFI Foundation CEO Ernest J. Moniz has published a new report, supported by carbon capture solutions company Carbon Clean, that describes a new coordinated regional approach in the US with great potential for significant carbon emissions reductions.The report, “A New Industrial Backbone: Exploring U.S. Regional CCUS Hubs for Small-to-Midsize Industrial Emitters” lays out a blueprint that calls for a hub approach to carbon capture.The study identifies four regional hubs in the…

Exmar LPG has ordered two ammonia-powered Midsize Gas Carriers (MGCs) from Hyundai Mipo Dockyard in South Korea.According to the company, a joint venture between EXMAR and Seapeak, the ships will be the first-ever oceangoing vessels to be propelled by dual-fuel ammonia engines, allowing for close to zero emissions trading when using ammonia. The engines will be delivered by Swiss marine power company WINGD, and the fuel supply system by Finland-based Wärtsilä Gas Solutions.Carl-Antoine Saverys…

Swiss marine power company WinGD has signed a memorandum of understanding with KSS Line to explore X-DF-A engines for future newbuild projects. The companies will focus on 52cm- and 62cm-bore versions of the dual-fuel ammonia engines, suitable for midsize and very large gas carriers (VLGC). The scope of the cooperation will extend beyond engine technology, also focusing on the performance and maintenance solutions necessary for using alternative fuel. The partners will also explore…

An easing of chemical tanker earnings in Q2 has not discouraged owners tempted to place newbuilding orders. After a period of extremely strong vessel earnings and asset valuations, an unwinding of the support that created the earnings boom has seen spot and time charter rates fall from their highs, though still remain at elevated levels.This bifurcation of the market has seen owners tempted back to the shipyards with ordering picking up steadily from Q1 and into Q2, reports MSI in its Chemical Tankers Q2 2023 report.

Wärtsilä will deliver its cargo handling and LPG fuel supply systems for two LPG/Midsize gas carrier vessels being built at Hyundai Mipo Dockyard in South Korea for EXMAR LPG.EXMAR LPG is a joint venture between EXMAR, a maritime and offshore solutions provider and Seapeak. According to Wärtsilä, the 46,000 m3 capacity vessels will be the largest of their kind in the world, and there is an option for two additional ships as well. Wärtsilä recently supplied a similar scope of solutions…

Belgian shipowner Exmar said on Friday it had signed a 10-year charter deal for the liquefied natural gas (LNG) vessel Excalibur with Eni as the Belgian shipowner closes the sale of its Tango LNG barge to the Italian energy group.The squeeze on oil and gas imports from Russia, following what Moscow calls "a special military operation" in Ukraine, has left Western powers scrambling to plug the energy gap, pushing them to expand LNG capacity.Exmar, which had been struggling to find a user to charter one of its giant LNG ships, said in August it had agreed to sell its Tango LNG floating liquefaction facility to Italy's Eni for 572 million to 694 million dollars.The group said in an earnings report that it had recently signed an agreement to acquire 100% of Excalibur…

Eastern Pacific Shipping (EPS) announced it intends to order an ammonia dual-fuel gas carrier that will be built at South Korea's Hyundai Heavy Industries (HHI) for delivery as early as 2025, as shipowners explore emissions-reducing alternative fuels on their path to decarbonization.At the Posidonia trade fair in Athens on Monday, the Singapore-headquartered shipowner signed a memorandum of understanding (MOU) with HHI, the Maritime and Port Authority of Singapore (MPA) and American Bureau of Shipping (ABS) stating the dual fuel ammonia tanker—which could be midsize…

Louisiana-based offshore support vessel owner Guice Offshore (GO) has expanded its fleet with three new vessels, including another 170 ft. DP1 multi-purpose vessel and two 205 ft. DP2 platform support vessels.The vessels will operate as GO Explorer (170 ft. DP1 MPSV), GO Crusader (205 ft. DP2 PSV), and GO Adventurer (205 ft. DP2 MPSV). All are Jones Act-qualified and dually certified Subchapter L & I by the U.S. Coast Guard.The GO Explorer and GO Crusader recently completed special survey dry docks and upgrades…

Greek shipowner Danaos Corporation announced Monday that it has ordered four 7,200 TEU containerships from Daehan Shipbuilding in South Korea. The neo-panamax newbuilds are slated for delivery in the first half of 2024.The vessels will be methanol fuel ready, will come with open loop scrubbers and will be built in accordance with the latest requirements of the International Maritime Organization (IMO) in relation to Tier III emission standards and Energy Efficiency Design Index (EEDI) Phase III, said New York-listed Danaos, one of the world's largest charterers of containerships.“These vessels are at the forefront of new technology, come with the latest specifications on emissions requirements and are methanol ready.

Classification society Lloyd’s Register (LR) said it has awarded an approval in principle (AIP) to Belgium-based shipping company Exmar for its ammonia (NH3) fueled 40,000-cubic-meter-capacity midsize gas carrier (MGC). China's Jiangnan Shipyard was responsible for the ship design while Wärtsilä Gas Solutions provided all input for the ammonia fuel gas supply system.LR said the Novel Technology Evaluation included an overall examination of fundamental aspects of the design and…

Belgium's Exmar, the Nicolas Savery-led shipowner, reported strong earnings for the very large gas carriers (VLCCs), and midsize gas carriers for the the third quarter of 2019. The current trading fleet of Exmar in the VLGC segment is the 83,300 m³ BW TOKYO. During the quarter the vessel has been extended to a first-class counterpart at a profitable rate to Exmar in line with strong market fundamentals.The two 88,000 m³ next generation dual fuel newbuildings with a long-term charter to Equinor are progressing according to schedule with expected delivery second and third quarter 2021, respectively.Exmar as player in the midsize market…

Hyundai Samho Heavy Industries (HSHI), a unit of the South Korean shipbuilder Hyundai Heavy Industries (HHI), has won an order for a liquefied natural gas (LNG) carrier.According to a stock exchange announcement by HHI, the deal has a value of $191.2 million.Yonhap reported that, under the deal with H-Line Shipping Co., a midsize South Korean shipper, Hyundai Samho will deliver the vessel with a cargo capacity of 174,000 cubic meters by December 31, 2021.Hyundai Samho, under Hyundai Heavy Industries Group, posted sales of 1.6 trillion won in the first half of the year, down 35 percent from a year earlier, but its operating profit swung to the black over the cited period, the report said.

Belgium-based floating assets specialist Exmar said that it  has two newbuild 88,000 m³  Very Large Gas Carriers (VLGC) on order at Jiangnan Shipyard (China) which will use LPG as a fuel marking a new era for the Company and the industry.Both vessels are committed to a long-term charter with Equinor after delivery in 2021, said the provider of floating solutions for the operation, transportation and transformation of gas.Currently, Exmar controls one chartered vessel in this segment, the 83,300 m³ BW TOKYO that is chartered to Trafigura until the fourth quarter of 2019. The hire is determined by a mix of fixed freight elements as well as a straight link to the Baltic Gas Index.Meanwhile…

Hyundai Samho Heavy Industries Co (HSHI), the Korea supplier of ship, tanker ship, bulk carriers ship, container ship, LNG ship, said it has clinched a deal to build two bulkers fueled by liquefied natural gas (LNG).According to a Yonhap report, under the deal with H-Line Shipping Co., a midsize South Korean shipper, Hyundai Samho will build two 180,000-ton vessels, which will be used on a route between South Korea and Australia starting in 2022.HSHI has not revealed the value of the deal, it said.According to the report, this is the second time that H-Line has placed an order for LNG-fueled vessels with Hyundai Samho Heavy, an affiliate of industry leader Hyundai Heavy Industries Co.

ABB extends the power range of Azipod propulsion to enable ferry and RoPax operators improve operational efficiency and reduce emissionsSince its launch in 1990, Azipod electric propulsion has become the industry standard for a wide range of vessel segments ranging from smaller crafts to icebreakers capable of independently operating in the harshest conditions.In response to customer requests, ABB has filled the gap between the low and high-power range of Azipod propulsors with the launch of a new series available in 7.5-14.5MW.

Overall, the outlook for shipping asset prices remains bright, but several areas are more attractive than others.The VesselsValue forecast takes many factors into consideration when assessing each vessel class and age. Today we’ll look at some of the most appealing segments and the fundamental reasons why ships of this size are more likely to appreciate. Subscribers have access to a far more granular look at all ship types and ages, allowing for accurate risk assessment of any…

Container ships have dominated the buying opportunities over the past several quarters, and many have taken advantage of this trend to make carefully informed purchases in this space, said VesselsValue.10 year old Panamax container vessels represent the strongest buying opportunity in the current outlook.Even though recycling activity has slowed, the global container market balance has tightened in 2018. Furthermore, declining speed has been an important factor this year and slower speeds are expected to be the new normal.Container secondhand values increased during the first half of the year but have since shown a softer development…

Exmar NV, a provider shipping and energy supply chain solutions worldwide, has ordered new carriers from China's Jiangnan Shipyard.The Belgian shipowner said in a press release that it  has entered into shipbuilding contracts with Jiangnan Shipyard for 2 LPG-fuelled 86,000 m³ gas carriers to transport LPG in an environment-friendly way.Both vessels are to be delivered ex yard respectively within the second and third quarter 2021 and will serve EXMAR’s long-term commitments towards Equinor ASA of Norway for worldwide LPG transportation as announced on 20th December 2017.EXMAR manages a diversified fleet including VLGC's, Midsize and small LPG carriers, LNG Regasification vessels and LNG carriers, FPSO's, Accommodation barges and an FSRU.

Van Oord’s first of two new midsize trailing suction hopper dredgers (TSHD), Vox Amalia, has been launched at the LaNaval shipyard in Bilbao, Spain. Its twin, Vox Alexia, is slated to be completed early next year. “These two vessels are designed for capital dredging, coastal works and dredging of trenches for pipe and cable routes for offshore installations such as wind farms,” explained Gerard Alkema, Project Manager Plant Design & Construction at Van Oord. The dredgers have a hopper volume of approximately 18,000 cubic meters and are equipped with two suction pipes with submerged e-driven dredge pumps, two shore discharge dredge pumps and six bottom doors. Each vessel is 158 meters by 36 meters and can accommodate 38 persons.

ABS, a provider of classification and technical services to the global marine and offshore industries,has confirmed that the ABS-classed Navigator Aurora, the world’s largest ethane/ethylene capable liquefied gas carrier, has been delivered to Navigator Gas by Jiangnan Shipyard in Shanghai, China. The Navigator Aurora is the first of four Navigator Gas ethane/ethylene midsize vessels to be delivered with ABS Class during 2016 and early 2017. It has a cargo carrying capacity in excess of 37,000 cbm and is fitted with dual fuel engines that enable the ship to operate on either diesel fuel or LNG, making it capable of meeting the most stringent current and future air emissions requirements.

Both the dry bulk market and the market for small gas carriers are anticipated to benefit from the expected rise in economic activity in 2018, more so as supply growth will be rather limited in both segments, says J. Lauritzen, the Danish shipping company with worldwide operations. For dry bulk though, slow steaming and congestion are at levels where capacity releases could dent the rise. After strong rises in dry bulk rates in 2017, the outlook for 2018 is for continuation of this trend, but at a lower rate of change. Tonnage prices are forecast to continue increasing. The market for gas carriers is in general expected to be weak for most segments due to sustained demand-supply imbalances.

Navigator Holdings Ltd. (NVGS) has reported third-quarter ended September 30, 2016profit of $6.5 million, with earnings per share of $0.12. The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share. EBITDA was $30.4 million for the three months ended September 30, 2016. The transportaion company for the natural gas and and chemical industry posted revenue of $69.7 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $62.6 million. The company took delivery of the first of our four midsize semi-refrigerated ethane/ethylene capable newbuilding vessels, on August 2, 2016 Navigator Aurora.