Vv News

Tanker ordering has surged in the first few months of 2024 as shipowners owners seek to renew ageing fleets and add new vessels that meet latest environmental regulations.So far this year, 104 tankers have been added to the global orderbook, up from 79 for the same period last year, representing a year-on-year increase of c.32%, according to latest figures from Veson Nautical.Values for tanker newbuildings have also increased across all subsectors. LR2s of 115,000 DWT show the biggest leap…

Those who are old enough (or young enough) to remember Justin Timberlake’s poignant lyrics, ‘What goes around, goes around, goes around, comes all the way back around’, will appreciate their significance and relatability to the offshore oil and gas market. On that theme, it appears a vessel very close to my heart, the AHTS previously known as Sanko Energy (now Ena Shogun), has come 'all the way back around.'News is filtering through the market that Eastern Navigation (Singapore) has sold the vessel five years after purchasing it from Sanko Steamship in early 2017.So why does this vessel resonate with me? Well, from a professional perspective, it was my first analyst experience of a sale that went against everything established market experts thought about values and sale prices.

Tongues are wagging in the offshore sector, as one of the longest-running rumors in the market has finally come true. U.S. offshore vessel owner Tidewater Marine has acquired Singapore's Swire Pacific Offshore for USD 190 million, the company’s biggest powerplay since its acquisition of GulfMark Offshore back in 2018.But why SPO, and why now? In this article, VesselsValue's Head of Offshore, Rob Day, seeks to answer these questions and provide commentary on why this long-time…

Shipping data provider VesselsValue announced its latest green product that allows clients to access, customize and compare vessels’ energy efficiency ratings.This latest feature combines VV’s shipping data with the IMO’s framework to calculate the energy efficiency score for an individual vessel, whether existing (EEXI) or a newbuild (EEDI). It is available across bulkers, tankers and containerships, with the flexibility to customize inputs to recalculate a vessel's EEDI or EEXI score and compare ratings across fleets.In addition to Energy Efficiency ratings…

Online valuation and data provider, VesselsValue, said Friday it had acquired the Norwegian shipping research and advisory company, ViaMar.ViaMar, based in Oslo, is becoming part of VesselsValue which has over 200 employees across eight offices worldwide in the UK, Singapore, Hong Kong, Shanghai, Seoul, and Manila.The Norwegian company provides market research and advisory services in shipping, energy and financial markets, and, according to VV, has particularly strong relationships with major banks…

Newbuild spend for vehicle carriers, including large car and truck carriers (LCTC), pure car and truck carriers (PCTC) and pure car carriers (PCC), smashed past $3.2 billion last week, following big volume orders from Eastern Pacific and Zodiac—an astonishing amount of money for a niche sector, exceeding the previous six years total combined. If we include options, a whopping $4.4 billion has been agreed year to date. Japanese shipyards have raised tariffs to $100 million for dual fuel liquefied natural gas (LNG) 7,000 car equivalent units (CEU), up by a staggering $10 million compared to last year. Chinese yards have followed but maintain a healthy discount quoting $88 million for an equivalent spec.

US Offshore Support Vessel Analysis 2018 and 2019. The US GOM Offshore Support Vessel (OSV) market is suffering, utilization remains poor, and many owners are still squeezed financially. However, a poor market forces people to adapt and for those willing to take risks, the upside can be extremely large.US Owners 2018 vs. 2019: Within the US GOM, 2018 saw a period of strategic thinking and tactical business decisions. Tidewater Marine completed their merger with GulfMark Offshore to create the world’s largest OSV player.

China is at the forefront of the large LNG sector growth and is emerging as the largest source of new LNG demand growth and second largest importer of LNG, VesselsValue revealed.China’s natural gas consumption has surged amid a gasification program and plan that is shifting millions of households and a large number of factories to natural gas from coal, said the report.Greece and Japan dominate in terms of USD value. Greece has recently overtaken Japan as the top owning country, ordering a large number of vessels since 2018.However, we have seen China emerge in the LNG market owning a total of USD 5.9 billion of Large LNG assets, which…

Elliott Bay Design Group (EBDG) uses Virtual Reality as a valuable tool in ship design allowing naval architects and owners the ability to experience the space in advance of final design; a powerful asset in ship repair and refit to help a team more efficiently and cost-effectively plan and execute the project.The process of designing and building a ship has changed dramatically in the last 20 years, with the advent and evolution of computer aided design that allows a vessel to be designed, tested and ‘built’ prior to the first actual cut of steel.

With less than a week until Christmas and most of our presents bought, we're feeling the pinch. However, that's nothing compared to the amount that some have been spending this year. VesselsValue's Senior Analyst Court Smith gives a rundown on which countries have splashed the most cash on second hand vessel purchases over 2018.USAJP Morgan Global Maritime is the US company who has spent the most on second hand vessels: 308 million USD so far in 2018. However, they have changed their purchasing strategy half way through the year.

Global consulting firm AlixPartners, in a new paper entitled, “Too many ships, too few rigs: why recovery is still a distant dream for the OSV sector,” warns that companies counting on a quick return to stability in the OSV sector are in for a rude awakening.The September report goes on to say that OSV companies continue to face pressure due to a radically changed oil industry and must take quick and decisive action in order to survive in what should be considered the ‘new normal.’Separately, VesselsValue.com’s Head of Offshore, Charlie Hockless told MarineNews, “I would agree that there are murmurs of a potential market recovery brewing…

Sam Tucker Will Tell You! There’s a new name in Superyacht valuation, and the name is VesselsValue.com. Last month we spoke with VesselsValue.com’s Sam Tucker for insights on its new Superyachts report. Many of our readers know VessselsValue, but for those who do not, please provide a brief description of the organization and its offering. Launched in 2011 by Richard Rivlin, a ship broker with 40 years of buying and selling experience, VesselsValue provides daily and automated Market…

Plucked from the headlines, the top stories of 2017 were compelling, and each provided impact to the domestic waterfront and in particular – the workboat sector. Follow along as Marine News recaps the highlights, drama and significant events that shaped the past 12 months. When Elaine Chao was sworn in to be the U.S. Secretary of Transportation, the Washington veteran brought a welcome burst of competence to the position. Her wide-ranging experience across the maritime sector and prior service at the U.S. Department of Transportation, Maritime Administration, and the Federal Maritime Commission uniquely positions her to understand the critical role that the waterfront plays in the intermodal equation. Soon after taking her chair, she was joined by another familiar face at Marad. Rear Adm.

Notwithstanding the recent surge in crude oil prices, it isn’t lost on anyone that the offshore oil exploration business is, and has been for some time, in the doldrums. In the U.S. Gulf, that pain can be seen through Chapter 11 filings and the sobering specter of vessel after vessel rolling off the shipyard ways and directly into cold iron layup. And, it doesn’t help that the shore-based shale drillers have not only found a way to drastically reduce their operating expenses, but also how to turn the valve off and on, seemingly at will, in response to market conditions.

Using VesselsValue's Offshore mapping service VV, Senior Offshore Analyst Charlie Hockless has put togther a snapshot showing the percentage of the offshore fleet currently laid up. Across all offshore types, 28 percent of the fleet is currently laid up. PSVs top the table, with 36 percent currently laid up. Hockless explained the definition of laid up used in this context: “Estimating the number of vessels in lay-up is an imperfect science. However, using a big data approach VesselsValue can provide a valid estimation using the following methodology.

In the last month, we have seen the Baltic Dry Index (BDI) recover to the same level it was 12 months ago (see circles in fig.1). Vessel values have started to firm, but not at the same rate and are still at historically low levels. In the last 12 months, contrarian owners have taken advantage of the low values and have been buying cheap tonnage. With hindsight, this looks to have paid off with many values having increased above the purchase price. This article takes a look at which dry bulk owners have been buying the most in the last year.

A trial run of two cargo vessels from the Aghoreshwar Bhagwan Ram Ghat Varanasi. The vessels viz. MV Joy Basudev (capacity 1400 tons) and MV V.V Giri (capacity 300 tons), contain newly assembled cars of Maruti Suzuki and construction material. Nitin Gadkari said that it was his wish that the Inland Waterways Transport system is inaugurated from Varanasi, the constituency of the Prime Minister. The Minister said this transport system will promote jobs to lakhs of people in Uttar Pradesh and will enable 11 power stations in the State to get timely supply of coal. He said this will reduce road traffic congestion and also cost less. This route between Varanasi and Haldia will also join Allahabad and Kanpur in the future, he added.

With U.S. sanctions on Iran expected to be lifted within the coming months, several container shipping lines have resumed calling the country in the second half of 2015. Among ships recently calling Iran is Panamanian flagged MSC Domitille which visited container port Bandar Abbas at the end of last year, as shown by VesselsValue.com Mapping Service VV@. MSC said it plans to make weekly calls to the country. Other vessels have entered into these waters earlier in the year, as seen on VesselsValue.com: the U.K. flagged CMA CGM Andromeda travelled to Iran on August 6, 2015.

The Port and Dock Workers Federation (AITUC) has decided to defer the strike proposed from March 16, in view of the Central Labour Commissioner appointing a committee to study the demands and grievances of workers and employees of major ports. The Federation has decided to defer the strike after a favorable result at the meeting called by the Central Labour Commissioner in New Delhi in which members of trade unions, employees’ representatives and chairmen of three major ports participated, said Honorary president of the Port and Dock Workers Federation VV Rama Rao. All-India Ports and Docks Workers Federation has also decided to withdraw the strike notice which was served to oppose central government’s plan to corporatize the 12 major ports of India.

To meet changing requirements in the trade between Europe and South Africa, both for dry and reefer cargo, and improve the quality of the service product offered, the SAECS Member Lines - DAL, Maersk, MOL and Safmarine - announced the merging of the current SAECS service with the MedShuttle/225 service. The joint service will operate with larger sized vessels and the weekly named day frequency will continue to be maintained by eight vessels with the transit times between North Europe and South Africa largely unchanged. In northern Europe and South Africa the port rotations will remain unchanged but will be supplemented by calls at Algeciras on both the southbound and northbound voyages improving transit times from Mediterranean to South Africa v.v.

VISBY, ZUMWALT, INDEPENDENCE, FREEDOM, TORNIO, SAN ANTONIO, INCHEON, SIGMA, FREMM ... ... these ships are not only capable, tested and proven warships, they are extremely complex. ZUMWALT alone carries 16 Electronic Module Enclosures that contain 235 electronics cabinets each supporting a complex Total Ship Computing Environment. “Warships represent a significant investment for any country. It follows that, regardless of whether they are being used to defend national boundaries or project power…

VesselsValue.com is launching Discounted Cash Flow (DCF) valuations to its existing portfolio of daily, automated valuations for the shipping industry. Discounted Cash Flow Valuations is the amount a vessel would be expected to earn as a working vehicle, where value is expressed as the sum of the discounted projected annual earnings over the remaining life of the ship plus the discounted residual (scrap) value. This kind of model depends on a large number of inputs, including anticipated charter rates, operating expenses, utilisation rate, commissions, inflation rates and discount rate. The market value, on the other hand, is essentially what someone would be prepared to pay for a specific vessel.

Online ships data platform VesselsValue.com has rounded up the top spenders in terms of second hand tonnage for the first half of 2015. Leading the industry in total amount spent on second hand tonnage so far in 2015 is U.S.-based Gener8 Maritime, who spent roughly $1.4 billion on 14 vessels. The seaborne crude oil transportation services company formed earlier this year as result of a merger between General Maritime Corporation and Navig8 Crude Tankers Inc. Second in spending was the Malaysian headquartered tanker shipping group MISC who spent about $1.065 billion on five second hand vessels.