Dwt News

d’Amico International Shipping S.A. subsidiary d’Amico Tankers D.A.C. signed a shipbuilding contract with Jiangsu New Yangzi ShipbuildingCo., China, for the purchase of two (2) new Long Range (LR1 – 75,000 DWT) product tanker vessels at a contract price of $ 55.4 million each. The ships are expected to be delivered in September and November 2027, respectively.Today the DIS’ fleet comprises 34 double-hulled product tankers (MR, Handysize and LR1, of which 26 owned, 5 chartered-in and 3 bareboat chartered-in) with an average age of about 8.8 years for its owned and bareboat chartered-in vessels.“This deal is aligned with our strategic objective of controlling a very modern fleet," said Paolo d’Amico, Chairman and CEO of d’Amico International Shipping.

Damen Shipyards has launched a Combi Freighter (CF) 3850 at the Ba Son Shipyard in Vietnam, built for German shipping company Reederei M. Lauterjung.The CF 3850 is the first in a two-vessel order from Reederei M. Lauterjung. Following this order, Damen’s client has placed an order for a third CF 3850.The vessels are to be named MV Arion, MV Hestia and MV Neptune.Upon delivery, MV Arion and MV Hestia will enter into a long-term charter with Amadeus Schiffahrts- und Speditions, a subsidiary of HGK Shipping.

Belships announced has expanded its newbuild program with two new 64,000 dwt Ultramax bulk carriers scheduled for delivery in 2028.The Norwegian-based company now has a total of 10 newbuilds under construction at Japanese shipyards with delivery between 2024 and 2028. All vessels are leased on time charter for a period of 7 to 10 years from delivery, with purchase options around current market levels. There is no obligation to purchase any of the vessels. Cash breakeven for the vessels upon delivery is about $14…

Dutch company Value Maritime and Japanese shipping giant Mitsui O.S.K. Lines (MOL) have signed a contract for the supply an Exhaust Gas Cleaning System (EGCS) and carbon capture feature for an LR1 product tanker.With a deadweight (DWT) of 75,000, this is the largest vessel, in terms of DWT, and the first LR1 tanker that will sail with a Value Maritime’s 15 MW EGSC Filtree and carbon capture unit.The installation is expected to take place before the end of the year, according to…

Eureka Shipping announced it has ordered a new cement carrier from Holland Shipyard Group in the Netherlands for scheduled for delivery in 2025.Eureka Shipping, jointly owned by SMT Shipping and The CSL Group, said the 12,500 dwt mechanical/pneumatic cement ship will replace two older vessels in the Great Lakes region while maintaining the same cargo capacity for operations.The newbuild will be fitted with a diesel-electric a propulsion system consisting of four generator sets…

Finnish shipping company Meriaura announced it has placed an order for two Ecotrader cargo ships from Dutch shipyard Royal Bodewes. The ships will be built in Hoogezand for scheduled delivery in January and December 2026.The ships are 105 meters long, 1A ice classed 6750 DWT vessels, designed to achieve the lowest possible emission levels, Meriaura said. Like the EcoCoaster vessels Eeva VG and Mirva VG delivered in 2016, the newbuilds will be capable of operating on biofuel made from recycled raw material produced by Meriaura’s subsidiary VG-Ecofuel.

MAN Energy Solutions reports it has received an order for three MAN 6L21/31DF-M (Dual Fuel-Methanol) GenSets capable of running on methanol in connection with the construction of a 7,990 dwt IMO Type II chemical bunker tanker.The dual-fuel engines will form part of a diesel-electric propulsion system on board the vessel with electrical motors driving twin fixed-pitch propellers via gearboxes; an onboard battery-storage system will optimize the use of the dual-fueled generators.

Imabari Shipbuilding will install a MAN B&W 7S60ME-Ammonia engine with SCR in connection with the construction of a 200,000 dwt bulk carrier for a joint venture between K Line, NS United and Itochu Corporation.The business represents one of the first projects for MAN Energy Solutions’ ammonia-powered engine that is currently under development in Denmark. MITSUI E&S will build the engine in Japan.Bjarne Foldager – Country Manager, Denmark – MAN Energy Solutions, said: “The interest in this revolutionary engine had been overwhelming…

Star Bulk Carriers Corp. on Tuesday announced that it has completed its merger with fellow dry bulk shipping company Eagle Bulk Shipping Inc.Eagle Bulk shareholders this week voted to approve the $2.1 billion deal, which was first announced in December 2023.Under the terms of the merger agreement, each Eagle shareholder received 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned. Eagle common stock has ceased trading and will no longer be listed on the New York Stock Exchange.Petros Pappas…

Bureau Veritas announced it has granted an approval in principle (AIP) to Sasaki Shipbuilding Co., Ltd for its methanol dual fuel (DF) system applied in a 9,000 DWT general cargo ship.The integration of the methanol DF system into a 9,000 DWT ship demonstrates its feasibility for smaller-scale ships, highlighting its adaptability and efficiency as a marine fuel.For the purpose of the AIP, Bureau Veritas conducted a comprehensive review of Sasaki's methanol dual-fuel system, assessing its compliance with the requirements outlined in BV’s Rule Note NR 670 - Methanol & Ethanol Fueled Ships.

Gearbulk announced it has signed a contract for delivery of up to four ammonia/methanol-ready, 82,300 dwt open hatch newbuildings. The contract is firm for two vessels, with an option to purchase a further two.The Swiss-headquartered company said it has secured financing for the vessels, and CSSC Huangpu Wenchong Longxue shipyard will deliver the first two vessels in the first half of 2027.“This contract for four newbuildings marks a significant milestone for Gearbulk as these vessels are set to be the largest and most efficient in the company’s history…

Over the past eight quarters, ship recycling of bulkers, tankers and container ships has dropped to the lowest level in 20 years. “A combination of strong demand following a series of market shocks and low orderbooks have kept older ships operating for longer than usual,” says Filipe Gouveia, Shipping Analyst at BIMCO.During the first quarter of 2024, only two million deadweight tonnes (DWT) ship capacity were recycled. This marks the ninth consecutive quarter with recycling levels below three million DWT.

Accelleron has been chosen to supply turbochargers for Japanese engine builder Makita’s first small-bore two-stroke marine engine featuring exhaust gas recirculation (EGR). The step follows a successful matching test in which Accelleron’s A255-L turbocharger demonstrated high efficiency, supporting both low NOx emissions and overall fuel consumption on the Makita-built MAN B&W 6G45ME-C9.7-EGRBP engine.The Makita engine, 6G45ME-C9.7-EGRBP, will be the first of its type worldwide to feature EGR bypass…

Norwegian shipowner Siem Offshore has secured new contracts with TotalEnergies for two of its platform supply vessels (PSV) for work offshore Brazil.The contracts are for Siem Giant and Siem Atlas PSVs.The new duration for Siem Giant is three years firm with options up to four more years.For Siem Atlas, the new duration is nine months firm with options until the end of the second quarter in 2027.Both vessels will start the contracts in June 2024 in direct continuation of present contracts…

Contracting activity for for crude tanker newbuilding has risen sharply to start 2024, driven by a steep rise in orders for very large crude carriers (VLCC), according to shipping organization BIMCO.In the first two months of 2024, crude tanker newbuild contracting surged to 7.4 m DWT, a 490% leap y/y. Notably, the 19 VLCCs ordered in January and February is more than was ordered for the entirety of 2023.Freight rates for crude tankers spiked at the start of the war in Ukraine, and they have largely stayed strong since, said Filipe Gouveia, shipping analyst at BIMCO.

Dry bulk shipowner Safe Bulkers on Wednesday announced it has reached deals to sell two of its vessels to undisclosed buyers.Through separate agreements, the Monaco-headquartered company will sell the 2010-built 92,000 dwt Post-Panamax Panayiota K at a gross sale price of $20.45 million and 2011-built 75,000 dwt Panamax Paraskevi 2 at a gross sale price of $20.3 million.The ships are scheduled to be delivered to their new owners in April and July 2024 respectively.Dr. Loukas Barmparis…

Berge Bulk informs it has placed an order for two ammonia dual fuel vessels from China's Qingdao Beihai Shipbuilding Heavy Industry as part of a push by the dry bulk shipowner to decarbonize its operations.The two 210,000-DWT Newcastlemax vessels will meet the International Maritime Organization's (IMO) Tier III NOx (nitrogen oxides) standards and Energy Efficiency Design Index (EEDI) Phase 3 compliance for greenhouse gas emissions.The Singapore-headquartered company has been…

LMG Marin France reports it has secured an engineering contract with Eastern Pacific Shipping (EPS) for integration of bound4blue eSAILsEPS will install its first ever wind-assisted propulsion system, three 22-metrer eSAILs o,n board the 2019-built oil and chemical tanker Pacific Sentinel in Q4 this year. The expected net gains in term of consumption are 10% subject to routing.LMG Marin said it worked with EPS, bound4blue, ABS to ensure preliminary feasibility studies of the turnkey eSAILs solution onboard the 183-metre…

The first vessel in a series of 10 newbuilds has been delivered to FureBear, a 50/50 joint venture between Sweden's Furetank and Canada's Algoma Central Corporation.Fure Vanguard is a dual-fuel ice class 1A 17,999 DWT product tanker built by China Merchants Jinling Shipyard in Yangzhou, China.The FureBear JV was formed in 2022 with an initial order for four ships. Later that year, the partners placed an order for four additional vessels, and in 2023 they ordered two more ships.

VesselsValue has unveils this year’s top 10 shipowning nations, reviewing the total asset values for vessels by beneficial owner country. From Japan's resolute leadership in the top position with a USD 206.3 billion fleet to the emergence of Hong Kong at USD 44.7 billion, asset values and ownership strategies have changed considerably over the last 12 months, says Rebecca Galanopoulos-Jones, Senior Content Analyst, Veson Nautical.The data provided by VesselsValue and analysed by Veson is valid as of February 2024.

The Great Eastern Shipping Company Limited announced it has contracted to buy a medium range (MR) product tanker of about 49,999 dwt on February 14, 2024. The 2010-built vessel is expected to join the company’s fleet by Q1 FY25.The proposed ship will be financed entirely from internal accruals, the Mumbai-based company said, noting that the purchase is part of a wider effort to modernize and expand its fleet.Excluding the newly acquired vessel, the company’s current fleet stands at 42 vessels…

Eastern Pacific Shipping (EPS) has signed a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs onboard the Pacific Sentinel.The turnkey ‘suction sail’ technology, which drags air across an aerodynamic surface to generate propulsive efficiency, will be fitted in fourth quarter of 2024.The wind-assisted propulsion technology is expected to help the 183-metre, 50,000 DWT oil and chemical tanker reduce overall energy consumption by approximately 10%…

Rescue crews are searching by air and sea for six crew members missing from a Turkish-registered merchant vessel that sank in the Marmara Sea off northwest Turkey on Thursday.It was reported that the 69-meter general cargo ship Batuhan A started to sink at 6:30 a.m. local time due to bad weather and sea conditions, according to the Turkish Coast Guard. The 1,090 dwt vessel was said to be carrying dry cargo from Marmara Island to Gemlik and crewed by Turkish nationals.The Coast Guard said it deployed two ships (TCSG-313…