New Times Shipbuilding Co Ltd News

ABB will deliver an equipment package for Himalaya Shipping's ultra-large bulk carriers that will feature innovative shaft generators with a Power-Take-Off (PTO) solution, comprising new drive systems and permanent magnet technology.The equipment will improve the energy efficiency of the ultra-large bulk carriers by up to four percent while enhancing operational flexibility, and save about 20 percent of space on board compared to a conventional solution.ABB will deliver an integrated scope of solutions with permanent magnet shaft generators at its core for twelve 210…

An ABS-classed Suezmax tanker ordered by Avin International LTD, the first vessel of a potential order of three vessels, is to be the first ammonia-fuel ready vessel in the world.The landmark 274-meter-long vessel is now under construction at China's New Times Shipbuilding Co., Ltd (NTS), with options for two further vessels. Currently conventionally fueled, the vessel complies with the ABS Ammonia Ready Level 1 requirements, indicating it is designed to be converted to run on ammonia in the future.

Hunter Maritime Acquisition Corp. said it has entered into definitive agreements pursuant to which it has agreed to purchase, for an aggregate purchase price of $139.4 million in cash, five identified Capesize dry bulk carriers in an en-bloc transaction from five Cyprus-based companies affiliated with one or more members of the Oskar Wehr group of companies of Hamburg, Germany. The vessels were built by Chinese shipyard New Times Shipbuilding Co. Ltd. and consist of MV Charlotte Selmer (2011), MV Greta Selmer (2011), MV Tom Selmer (2011), MV Lene Selmer (2010) and MV Hugo Selmer (2010). The vessels have a combined cargo-carrying capacity of approximately 876,352 deadweight tons and an average fleet age of approximately 6.2 years.

* Frontline achieved net income attributable to the Company of $17.4 million, or $0.09 per share, for the third quarter of 2015 and net income attributable to the Company of $65.9 million, or $0.42 per share, for the nine months ended September 30, 2015. * The long-term charters for the 1995-built Suezmax tankers, Front Glory and Front Splendour, were terminated in September and October, respectively. The Company received compensation payments of $2.2 million and $1.3 million, respectively, for the termination of the charters. * In November, the Company agreed to terminate the long-term charter for the 1998-built Suezmax tanker, Mindanao. The charter is expected to terminate in the fourth quarter of 2015.

One of the first commercial applications of MAN Diesel & Turbo’s new MAN Alpha Kappel FP propeller took place off the coast of China recently when the vessel Elsabeth C, a 58,500-dwt Supramax bulk carrier owned by Frontmarine Co. Ltd – an affiliated and managed company of Lemissoler Navigation Co. Ltd., the Cypriot ship management group – completed its sea trials. The newbuilding is the first in a series of eight sister ships, all featuring single MAN B&W 5S60ME-C8.2 engines with an SMCR 8050 kW at 89 rpm.

Lemissoler Navigation Co. Ltd., the Cyprus-based owner and operator, has selected the MAN Alpha Kappel propeller design for a new series of 8 × 58,500 DWT bulk carriers planned for delivery during 2015 and 2016. The 6.8-meter, slow-running, four-bladed Kappel fixed-pitch propellers will be tailored to the SDARI-designed bulk carriers and a drivetrain powered by an MAN B&W 5S60ME-C engine, economy-rated at 8,050 kW and 89 r/min. The new Lemissoler vessels will be characterized…

Power and automation technology group ABB won two orders in the third quarter to provide the waste heat recovery systems, each powered by a power turbine generator (PTG), for 14 new 8,800 TEU (twenty-foot equivalent unit) container vessels. The first seven post-panamax vessels will be built at Dalian Shipbuilding Industry Co. Ltd., (DSIC) and the other seven vessels at New Times Shipbuilding Co. Ltd., for China International Marine Containers Group Co. and Mediterranean Shipping Co. S.A (MSC).

Chinese shipbuilder New Times Shipbuilding Co., Ltd (NTS) introduces simulation-driven design to its product development. NTS has signed a contractual agreement with GL's maritime software developer Friendship Systems. The contract includes the licensing of engineering software and design support for the development of a large crude oil tanker. By introducing the simulation-driven design software the shipyard aims to improve the efficiency of its products, streamlining its design work and increasing its competitiveness.

At the beginning of September the joint-venture company Wärtsilä CME Zhenjiang Propeller Co. Ltd. in China received an order for 50 fixed pitch propellers (FPP) to be delivered to two shipyards, New Century Shipyard and New Times Shipbuilding Co. Ltd., in Jiangsu Province, China. The order is worth $21.5m .The propellers will be manufactured at the Wärtsilä CME propeller factory in Zhenjiang, Jiangsu Province, China. With weights ranging from 28 - 73 tons, the propellers are designated for the propulsion of a large series of vessels including 46 tankers and 4 container vessels, all being built at New Century Shipyard and New Times Shipbuilding for various customers. The vessels will be delivered between 2007 and 2009.

Overseas Shipholding Group, Inc. for net proceeds of approximately $168 million. tankers that are being built at the New Times Shipbuilding Co., Ltd. shipyard in Jinjiang, China. the older vessels sold. subject to the satisfaction of standard vessel sale closing conditions. between the middle of July 2006 and the middle of August 2006. sales. Alpha and the Phoenix Beta, each for three-year periods. quarter. asset management and fleet modernization programs. newbuild program includes 26 vessels across its crude, products, U.S. 2006 and 2010. tankers announced today. respectively, as of April 1, 2006.

Inc. will build four, 114,000 dwt 44-meterbeam Aframax tankers at the New Times Shipbuilding Co., Ltd. based in Jinjiang, China. International (AI) pool. bulk carriers ordered after April 1, 2006. by each classification society. million for each of the high specification tankers. vessels, aggregating 12,652,837 dwt and 864,800 cbm. worldwide with a combined fleet of 42 Aframax tankers. older Aframax tankers. vessel operating expenses. market today for less efficient vessels that are not CSR-compliant. than double the commercial life of the vessels.