NAT Bullish on Tanker Market
Bermuda-headquartered Nordic American Tankers (NAT) said that its tanker segment is on upswing mode following he strong market improvement for its Suezmax tankers."However, seeing is believing and if anyone had doubts, last week, the international shipbroking firm of Clarkson Platou Research reported the largest week-on-week increase in the history of their freight index,"pointed out the company.From Thursday to Friday last week, reported Suezmax rates jumped 60% on the day and 400% on the month…
Maritime Cyber Alert
For some years now, the maritime sector has experienced breaches of various computer and information technology (IT) systems. Primarily, these breaches have been collateral damage. The maritime sector has almost never been the intended target. That does not mean that the damage has been minor. In June 2017, A.P. Moller-Maersk suffered a major cyber-attack. The malware had been designed by Russian hackers to disrupt the Ukrainian power sector. Once released, though, it proved to be indiscriminate, infecting IT systems worldwide that had not been kept up to date. In the case of A.P.
China No.1 in Global Ship Orders in Q1
Chinese shipbuilders Chinese shipbuilders took the top spot worldwide in terms of new orders in the first quarter of the year 2019.A report in Yonhap quoted data compiled by industry tracker Clarkson Research Institute that said the local shipyards garnered new orders totaling 2.58 million compensated gross tons (CGTs), or 35 vessels.South Korean shipbuilders came in second worldwide in terms of new orders in the first quarter of the year, said the report.Korean shipyards won new orders totaling 1.62 million compensated gross tons (CGTs) in the January-March period…
South Korea 1st in Global Ship Orders
South Korean shipbuilders came in first worldwide in total new orders in February, outpacing Chinese rivals, Yonhap news agency said. It comes around 90 percent of the new vessel construction orders awarded in the month.According to the data compiled by industry tracker Clarkson Research Institute, Korean shipyards garnered new orders totaling 630,000 compensated gross tons (CGTs) in February to build eight ships (or 90 percent), out of the 700,000 CGTs (15 vessels).Third spot went to Japanese shipbuilders with 10-thousand CGT.In the first two months of 2019…
Navios Names Two Directors
Monaco-based seaborne shipping company Navios Maritime Containers announced the appointment of Stefan Kuch and Vasilios Mouyis to its Board of Directors.The owner and operator of container ships informed that Kuch has over 32 years of experience in finance and ship finance, having served in senior leadership positions in the shipping division of Commerzbank AG, one of Germany’s leading financial institutions.He also served as Managing Director of Hanseatic Ship Asset Management GmbH, a vessel-owning company within the Commerzbank Group.
South Korean Shipbuilding No.1 Again
South Korea’s shipbuilding industry reclaimed the title of world’s biggest shipbuilder (in terms of orders volume) in 2018 for the first time in six years, since it had conceded No.1 spot to China in 2012.The global orders of Korean shipbuilders stood at 12.6 million compensated gross tonnage (CGT) last year, accounting for 44.2 percent of the total orders, according to Clarkson Research, shipbuilding and marine analysis agency in the U.K. The orders of Chinese shipbuilders were 9.1 million CGT…
China to Push LNG Shipbuilding
China would like to compete with South Korea in the field of building liquefied natural gas (LNG) carriers building.South Korea has won 86 percent of the world's total orders or 52 orders for LNG carriers so far in 2018, according to Clarkson Research. The remaining nine orders were shared by companies from China, Singapore and Japan.Though China leads offshore engineering products and mega container vessel shipbuilding sectors, the country is a laggard in LNG shipbuilding.A recent report in the country's official media China Daily quoted Tan Naifen…
South Korea Dominates LNG Shipbuilding
The liquefied natural gas (LNG) carrier orders received by South Korean shipbuilders have more than tripled from last year.According to Reuters, the three South Korean yards - Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries and Samsung Heavy Industries - have won the more than 50 orders for ships carrying LNG, with a total value of $9 billion.According to Clarkson, a shipbuilding research company in the U.K. on Nov. 20, LNG carrier orders from January to October this year totaled 43 units or 6.8 million cubic meters…
S.Korean Shipbuilders Jump over Rising LNG Tanker Prices
South Korea's shipbuilders jump after an industry report notes rising prices of liquefied natural gas tankers that is set to benefit the country's shipbuilders.Shares of Hyundai Heavy Industries soar 9.2 pct, while those of Daewoo Shipbuilding & Marine Engineering jump 9.7 pct.Samsung Heavy Industries adds 5.7 pct, after it secured a contract worth 412 billion won ($368 million) to build two LNG carriers for a ship owner in North America.The stock price gains reflect the report issued by Clarkson, a UK shipbuilding industry analysis organisation, which raised the price of an LNG tanker to $181
South Korea Tops Global Shipbuilding Industry in July
South Korea maintained its number one ranking in the global shipbuilding market in July. The South Korean yards were responsible for almost half of all new orders placed in July 2018.According to Clarkson Research, Korea received orders in July totaling 970,000 compensated gross tonnage or CGT, a measure of work needed to build a vessel. That accounts for about fifty percent of the month's global shipbuilding orders.Yonhap reported that it is a sign of the industry's possible…
Clarksons Targeted in Cyber Attack Last Year
British shipping services provider Clarkson Plc said on Monday an unauthorized third party accessed some of its computer systems in the United Kingdom last year.The unauthorized access to systems from May 31 to Nov. 4, 2017 was gained from a single and isolated user account.
The ABB Electric Tow Boat Beckons to Inland Operators
Long a staple for offshore service providers, a more compact and carefully designed version of the diesel electric option is now available for inland pushboats. For budget conscious operators (and who isn’t, in this environment?), the stars may finally be aligned.For many years, electric propulsion has proven to be a viable propulsion solution for many different types of vessels. Most familiar to workboat stakeholders would be the advent of the ‘diesel electric’ offshore serve providers (OSV) that became commonplace during the offshore boom era.
Decarbonization, Digitalization Top the Maritime Agenda
In September, more than 50,000 maritime industry visitors from some 120 countries will come to Hamburg for SMM, one of the world’s leading international trade fairs. Today, representatives from key parts of the maritime sector, from ship owners to shipbuilders, convened in Hamburg to sit on a panel to discuss some of the topics highest on the agendas of industry stakeholders and at the heart of the upcoming SMM. Anthony J. Dr. Much of the discussion centered on digitalization and decarbonization…
Noble Group To Sell Ship For $24 Million
Struggling commodity trader Noble Group Ltd said it would sell to Bianca Corp a Kamsarmax dry bulk carrier for $24 million in cash. The Hong Kong registered ship has a capacity of 81,499 deadweight tons. Built in 2015, the vessel, Ocean Integrity, is employed to service external customers as well as Noble Group's internal freight requirements. "The consideration for the Proposed Disposal shall be US$24 million payable on completion of the Proposed Disposal and will be satisfied in cash.
Schulte's PRONAV Acquisition Greenlighted
The Hamburg-based Schulte Group said it has received clearance by the German Federal Cartel Office for the acquisition of the LNG specialist PRONAV. With this strategic move, the family-owned ship owner and manager continues to increase its capabilities and capacity in the growing liquefied natural gas (LNG) market. Through the acquisition of PRONAV, the Schulte Group has increased the number of vessels under full management in its third-party management fleet by six additional LNG carriers (LNGC). At present, the Schulte Group provides full management for three LNGC and crew management for 21 LNGC. Five LNGCs with a capacity of 173…
Second-hand Ship Sales Reach 10-year High
Shipping struggles to recover from worst crisis in 30 years; market for new ships remains weak. Sales of second-hand ships reached a 10-year high on cautious optimism that one of the shipping industry's worst ever downturns is nearing an end. An increase in cargo demand has helped revive confidence this year in a sector that is starting to emerge from a 10-year slump fueled by owners splurging on thousands of new ships. "Second-hand purchases go up when optimism is thriving. 2017 has certainly been a year that has lent optimism a hand…
China, Australia Ports Clogged as Coal, Ore Demand Soars
Around 300 ships caught in jam that would stretch 40 miles; freight rates for biggest coal, ore carrier hit 3-yr high. More than 300 large dry cargo ships are having to wait outside Chinese and Australian ports in a maritime traffic jam that spotlights bottlenecks in China's huge and global commodity supply chain as demand peaks this winter. With some vessels waiting to load coal and iron ore outside Australian ports for over a month, key charter rates have jumped to their highest in more than three years.
LNG Tankers Divert to China as Winter Demand Spikes
China's LNG demand soars as tankers from the Americas divert to China. Liquefied natural gas (LNG) is being re-exported to China from Japan and tankers are being diverted from as far away as Brazil, with traders rushing to find cargoes in the face of a supply crunch in the world's No.2 economy as winter bites. Following an unprecedented drive to switch millions of households to natural gas from coal for heating, China's imports of LNG have surged as utilities struggle to meet soaring demand as winter gets off to a colder start than usual.
Are South Korean Shipbuilders Back from the Abyss?
Sparks light up the night-shift at giant shipyards on Korea’s southeast coast, as welders and fitters at some of the world’s biggest marine engineers forge next-generation container ships, oil rigs and even ice-breaking tankers in a bid to clamber out of a global industry abyss. Sunk by drastic cuts in orders from customers hit by the 2008 financial crisis, South Korea’s shipping landscape has been littered with bankruptcies and billion-dollar losses. But some, like Busan’s DSME, are adding innovation to craftsmanship to tap new demand for nimbler ships and offshore energy platforms.
Shipbuilding: China Races Ahead of South Korea
Shipyards in China have surpassed South Korea again in terms of receiving the most orders for new ships and platforms, while fierce battle for the number one position in shipbuilding orders continues. China ranked first globally with 195 vessel orders, while South Korea was second with 104 during the first eight months of this year, Yicai Global reported citing Clarkson Research Services. According to the report, total global orders for January to August were 489 vessels, up about 40 percent annually.
Korea Returns to First Place in Shipbuilding
South Korean shipbuilding industry has surpassed China in three months and reached the top of global monthly shipbuilding orders. A report in Yonhap said that South Korean shipyards recaptured the No. 1 position in new orders worldwide in August amid a plunge in overall numbers. The local shipbuilders clinched new orders worth a combined 130,000 compensated gross tons (CGTs) last month to build nine vessels, the report said quoting data compiled by global research firm Clarkson Research Institute. Chinese rivals came next with 110,000 CGTs, or seven ships.
Hyundai Heavy Industries Debuts ‘Smart Ship’ Solution
South Korean shipbuilder Hyundai Heavy Industries (HHI) said it has developed proprietary ICT technology capable of realizing economical and reliable navigation and management of ships: Integrated Smart Ship Solution (ISSS). HHI said the solution provides a wide range of ship information to operators, including optimal navigation routes and navigation speed along with a slope status of the front and back hull of a ship that minimize resistances a ship takes on voyage. ISSS is…
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 ships waiting for new charters and depressed rates in smaller tanker sizes, brokers said on Friday. "At the slightest attempt by owners to push rates higher, charterers can split the cargo into Suezmax cargoes for the same rate," an European supertanker broker said on Friday. A VLCC can carry around 2 million barrels of oil while a Suezmax tanker can transport about 1 million barrels.