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ESG Invests in Shipbuilding Infrastructure
Eastern Shipbuilding Group, Inc. (ESG) commenced phase two of a itsinfrastructure improvement project at its Nelson Street government shipbuilding facility, a phase which includes the construction of 1,000 linear feet of additional bulkhead and berthing space, installation of associated heavy weather mooring infrastructure, the extension of the launch facility by 120 feet to increase the total launch way length to over 500 feet…
Scarcity of Ship Recycling Tonnage Continues
Despite the occasional smaller LDT candidate popping up for sale over recent weeks, there regrettably remains the ongoing scarcity of tonnage that is simply unable to fill the most basic of demands at the major ship-recycling destinations, reports cash buyer GMS.“As plots across Indian sub-continent markets gradually recycle through their respective shares of vessel deliveries through the first quarter of 2024…
Damen Shipyards Galati Celebrates 130 Years
This year sees a milestone moment for Damen Shipyards Galati in Romania as the yard marks 130 years of operation. Part of the Damen Shipyards Group since 1999, the Galati yard has been responsible for some of the company’s largest and most complex vessel deliveries to date.The Galati yard, on the banks of the Danube, first opened its gates in 1893. Beginning life as a mechanical construction and iron and bronze foundry, by 1897, it had gone into the ship repair business and was known as G.
ZIM Opts for Five More LNG-fueled Containerships
Israeli container shipping company ZIM Integrated Shipping Services Ltd announced on Wednesday that it has exercised its option to long-term charter five additional 7,000 TEU liquefied natural gas (LNG) dual-fuel newbuilds from containership lessor Seaspan Corporation.Under the initial deal announced in July, ZIM has already entered into long-term charter agreements for ten 7,000 TEU LNG vessels scheduled to be delivered from the fourth quarter of 2023 into 2024.
Seaspan Takes Delivery of Two 8,500 TEU Vessels
Seaspan Corporation, a wholly owned subsidiary of Atlas Corp. announced on Wednesday it has accepted delivery of two quality 8,500 TEU scrubber-fitted containerships on long-term charter with a global liner.Bing Chen, chairman, president and CEO of Seaspan, said, "Our creative customer partnership, executional expertise and operational excellence continue to drive quality growth as we provide market leading solutions to our customers.
Inside Cruise Shipping's Fight for Survival
In early 2021, the somber news from the cruise sector continued. For some cruise brands, their own version of “lockdowns” will have spanned an entire year. By late January, 2021, Carnival and others were hesitantly pegging their restarts for April/May 2021, and for some markets, late summer, under a Conditional Sail Order promulgated late last year by the Centers for Disease Control and Prevention (CDC).What else to do but look ahead?In preliminary earnings guidance…
How the Major Dry Bulk Commodities Drive the Freight Market into Q4
The world is in the midst of the second coronavirus wave and with that comes the natural question of how the current dynamics will play out for the dry bulk shipping market. Demand and the subsequent cargo flow of the major dry bulk commodities are critical for the freight market, as we enter the final quarter of the year.Iron ore…has without question performed well this year, on occasion even better than gold…
Containership Markets Plot Uncertain Course to Recovery -MSI
New HORIZON Monthly report shows freight rates remain high, blanked sailings have hit charter markets and coming quarters continue to hold riskContainership markets are exhibiting contradictory signals as the global economy continues its tentative emergence from lockdown. In the first of its new HORIZON Monthly reports, Maritime Strategies International (MSI) analyzes the forces at play in freight and charter markets as well as the impact of global policy on demand.On nearly all trade lanes…
Samsung Delivers LNG Carrier to GasLog
Greek shipowner GasLog has taken delivery of a newbuild liquefied natural gas (LNG) carrier from Korean shipbuilder Samsung Heavy Industries. The 180,000-cubic-meter-capacity GasLog Wales will operate on a 12-year time charter agreement with the principal LNG shipping entity of Japan’s JERA, GasLog said in its latest quarterly report.The handover follows the April 1 delivery of Samsung-built sister ship GasLog Windsor…
Concordia Expects Stong Tanker Market
During the first half of 2019, the tanker markets produced voyage result per day levels that exceeded the corresponding period in the slump year 2018 by 50-100 percent…
Golar Bullish on LNG Market
Through the provision of cheaper and cleaner energy the liquefied natural gas (LNG) market will likely take market share from coal and oil and sustain industry growth…
Damen Takes Over Mangalia Shipyard
To signify its first day of operations at Damen Shipyards Mangalia in Romania, Damen held a ceremony at the yard on Monday, July 23.The celebrations mark Damen’s completion of the transaction with Daewoo Shipbuilding & Marine Engineering (DSME) for the Mangalia shipyard, formerly known as Daewoo Mangalia Heavy Industries (DMHI). The yard, which will be renamed Damen Shipyards Mangalia, will be operated as a joint venture with the Romanian Government.
LNG Shipping Charter Rates Under Pressure in 2018: Drewry
Increasing vessel supply will keep LNG charter rates under pressure in 2018, despite strong growth in trade, according to the latest edition of the LNG Forecaster…
MacDuff Ship Design Reports Busy Autumn
Scotland based MacDuff Ship Design reports it has had another busy summer and autumn with the delivery of a number of new vessels, work continuing on existing contracts and several new design contracts won. Alongside this has seen the continuation of the companies bureau work in naval architectural consultancy and the steady expansion of MacDuff Marine Surveyors. A new 25.5m Aquaculture Support Vessel…
Tanker Scrapping on the Rise
One of the main contributors to the low tanker rates experienced during 2017 has been high fleet growth, particularly in the large crude tanker sectors, says a report from Teekay.
Asia Tankers-VLCC Rates to Remain Low on Tonnage Glut
Around 90 ships charter free for early September loading. Freight rates for very large crude carriers (VLCCs) on Asian routes will remain under pressure for at least the next month…
Asia Tankers-VLCC Rates Under Pressure on Oversupply
Charterers set to split VLCC cargoes if owners push rates higher. Freight rates for very large crude carriers (VLCCs) are coming under pressure from a build up in…
Vigor Begins Building NYPD Response Boat
U.S. shipbuilder Vigor said it has begun constructing a fifth 45’ Response Boat - Medium C (RB-M C) for its long-time customer, the New York Police Department (NYPD) Harbor Unit. The vessel will be fabricated at Vigor Ballard (formerly Kvichak Marine) in the Seattle metro area with delivery expected in November. It will be the seventh RB-M C built for three different police departments. The RB-M C…
BW Group Completes VLCC Deliveries to DHT
DHT Holdings, Inc. said it has taken delivery of nine VLCCs acquired from the BW Group Limited, as well as the contracts for two VLCC newbuilds due for delivery in 2018. "The delivery of the fleet acquired from BW has been conducted in a speedy and efficient manner," DHT senior management said it a press release. The deal was announced in March 2017. With the latest vessel deliveries, DHT now has a fleet of 30 VLCCs…
The 2007 Act: Highways to Waterways
The Energy Independence and Security Act of 2007 (the 2007 Act) authorized a Short Sea Transportation (SST) Program. As passed by the House, the legislation would have authorized $2 billion for the Maritime Administration (MARAD) Title XI Program and have extended the Capital Construction Fund Program (CCF or Program) to shipyards and operators building and operating vessels in SST services nationwide. Mr.