Yangfan Group News

Drybulk cargo shipper Genco Shipping & Trading Limited announced that it has taken delivery of a 64,000 dwt Ultramax newbuild vessel Baltic Scorpion. The Baltic Scorpion is the third of four Ultramax vessels to be delivered to the company under Baltic Trading's agreements with Yangfan Group Co., Ltd. The Baltic Scorpion is expected to be delivered to its charterer, Swissmarine Asia Pte. Ltd., on or about August 8, 2015 to commence a spot market-related time charter for 14 to 18.5 months. The rate for the spot market-related time charter will be based on 115.5 percent of the average of the daily rates of the Baltic Supramax Index (BSI), published by the Baltic Exchange, as reflected in daily reports.

Despite growing competition from container lines, specialised reefer operators can still thrive, according to Drewry’s latest Reefer Shipping Market Annual Review & Forecast, referred to here in an extract from DMR's latest 'Container Insight Weekly'. Specialised reefer operators peaked some years ago in terms of cargo volumes and are now having to contend with falling volumes and market shares as container lines move further into their territory. However, this does not necessarily mean they cannot survive and looking at the limited number of public companies reporting financial returns, profitability is indeed achievable. To protect their future viability, specialised reefer companies must now reinvent themselves to protect their undoubted expertise in this field.

International classification society RINA has launched a new voluntary notation to clearly identify new ship designs which meet eco-ship criteria. The Efficient Ship notation is granted to ships and new designs assessed by RINA to have  very high overall efficiency of engines, a lower fuel demand at owner defined speed, deadweight higher than the average for the particular type of ship and a system to monitor their performance during their life. Dino Cervetto, head of technical services…

Deltamarin announced that so far a total of 103 B.Deltas and derivates have been ordered by several world-known shipowners at nine Chinese shipyards. The latest addition is the order of eight open hatch B.Delta37 bulk carriers by Polish shipowner, Polska Zegluga Morska P.P. (Polsteam), at Yangfan Group shipyard. The main dimensions of Polsteam’s B.Delta37 are 179.99 m in overall length and 30.0 m in beam, with cargo carrying capacity of 50,000 m3. With a service speed of 14.0 knots…

Baltic Trading Limited has ordered  two 64,000 dwt Ultramax newbuildings for an aggregate purchase price of $56.0 million. The Company also has an option exercisable in January 2014 to acquire two additional Ultramax newbuildings under the same specifications and purchase price. The four eco-design vessels will be built by Yangfan Group Co., Ltd. with the two committed vessels expected to be delivered to Baltic Trading in the second half of 2014. Upon completion of this acquisition (which is subject to the completion of customary documentation and closing conditions) excluding the two option vessels and combined with the recently announced acquisition of two Capesize vessels…

Ship operators Bernhard Schulte & US banking institution JP Morgan have come together to order a series of medium-size boxships in China. Zhejiang Yangfan Group will construct up to eight 2,300 teu boxships for the pair in a four plus four option deal with deliveries scheduled in 2014 and 2015. Pricing is thought to be in the region of US$26.5-million per ship.  Zhejiang Yangfan Group is the largest shipbuilding group in Zhejiang Province and the scope of its bussiness operation includes shipbuilding and marine outfitting. Source: SinoShip News

Deltamarin has entered into a new contract with Yangfan Group (China) for the design of B.Delta37 Bulk Carriers to be built for d'Amico Societa di Navigazione S.p.A. who placed orders with the Chinese builder for a series of six fixed orders with options for six more vessels. Deltamarin will procure the basic sesign, part of the detail design of the vessels and technical procurement handling and will also have a site team to ensure the continuity all along the design phases to the production. The design is an amended version of the standard B.Delta37 design into an open hatch configuration.

At the 150th Annual Meeting of the Members of ABS, three industry leaders were elected to the ABS Council. Following the Annual Meeting, the ABS Council met and elected industry leaders to both its Marine and Offshore Technical Committees. Individuals serving on the ABS Council and the Technical Committees help guide the class society in fulfilling its mission of promoting the security of life, property and the natural environment. “Classification represents the concept of self-regulation for the marine and offshore industry,” said ABS President and CEO Christopher J. Wiernicki.