Lpg Gas Carriers News

On October 1 two new wholly owned group companies of Mitsubishi Heavy Industries, Ltd. (MHI) succeeding to MHI's ship construction operations in the Nagasaki district will commence business operations. Mitsubishi Heavy Industries Shipbuilding Co., Ltd. will handle ship constructions, while Mitsubishi Heavy Industries Hull Production Co., Ltd. will manufacture hull blocks. By making full use of the diverse resources cultivated at the Nagasaki Shipyard & Machinery Works, the two new companies will pursue enhanced competitive strength by narrowing product lines to areas of core competence and engaging in more compact business operations. Mitsubishi Heavy Industries Shipbuilding will focus on the construction of LNG and LPG gas carriers, a type of vessel in which MHI excels.

SCF Group (Sovcomflot)
 has released its audited financial results for the year ending 31, December 2013, indicating a slip in profitability during what they describe as another challenging year for the international tanker industry. Further implementation of programme of commercial voyages along the Northern Sea Route, involving ice-class tankers SCF Yenisei  and Viktor Bakaev (first transit completed by the Group in an East-West direction) and the bulk carrier NS Yakutia.

The Great Eastern Shipping Company Limited (G E Shipping) has signed a contract to buy a 1,47,092 dwt, modern (double hull) Suezmax crude tanker. The 2000 built ship is expected to join the Company's fleet during the second quarter of FY 2007-08. The decision to induct the said vessel is with the objective of modernizing the tanker tonnage and to enhance the Suezmax fleet. The company's current fleet of 46 ships with an average age of 12.2 years aggregating 3.22 mn dwt comprises 34 tankers (13 crude tankers, 19 product carriers and 2 lpg gas carriers) and 12 dry bulk carriers. The outstanding new building order of $239mconstitutes 5 product tankers, aggregating 0.33 Mn dwt. to be delivered at intervals during the next 2 years.