Trading Co Ltd News

Yemen's Houthis targeted a fuel tanker, Mado, in the Red Sea with naval missile and Israel's Eilat port and resort region with winged missiles, the group's military spokesperson Yahya Sarea said on Tuesday.Mado is a Marshall-Islands flagged liquefied petroleum gas (LPG) tanker heading to Singapore from Saudi Arabia, maritime shipping trackers showed. The Houthis described it as American, but Equasis's shipping database indicates that it is owned by Naftomar Shipping & Trading Co Ltd of Greece.

Greek shipowner Performance Shipping Inc. announced it has signed two shipbuilding contracts with China Shipbuilding Trading Co. Ltd. (CSTC) and Shanghai Waigaoqiao Shipbuilding Co. Ltd. (SWS) for the construction of two 114,000 DWT LNG-ready LR2 Aframax product/crude oil tanker vessels.The newbuilds, expected to be delivered in January and April of 2026, were ordered at a purchase price of US$64,845,000 per vessel, net of third-party commission. 15% of the purchase price is payable upon receipt of a refund guarantee…

Hanwha Ocean has secured an order worth approximately $500 million to construct four very large ammonia carriers (VLACs) for Greek shipping company Naftomar Shipping and Trading Co. Ltd. Inc (Naftomar). Each VLAC will be able to transport 93,000 cubic meters (cbm) of ammonia, a carbon-free fuel, making them the largest vessel of their class in the world, Hanwha Ocean. The vessels will be built at Hanwha’s Geoje shipyard and delivered to the shipowner starting in 2026.The VLACs will be outfitted with Hanwha Ocean’s latest technologies…

Italian shipbuilder Fincantieri, through its subsidiary Vard, has signed a contract with offshore wind vessel operator Edda Wind, for the construction of four Commissioning Service Operation Vessels (CSOV). The first two vessels are expected to be delivered in Q1 2025, the third in Q2 2025, and the fourth in Q1 2026. The contract has a total value of approximately $250 million, Fincantieri said.Edda Wind has also secured options for 2+2 additional CSOVs at the same contract prices…

Norway-based provider of shortsea RoRo transportation United European Car Carriers (UECC)  held a steel cutting ceremony for its first newbuild pure car truck carrier (PCTC) on order with China Ship Building Trading and Jiangnan Shipyard Group.Representatives from UECC, NYK, Japan Marine Science, MUFG Bank, DNV-GL, SDARI, CSSC and CSTC gathered at the Jiangnan Shipyard in in Shanghai on the 8th of January 2020 to witness and celebrate the steel cutting ceremony for UECC’s first Battery Hybrid LNG Powered PCTC.Earlier, UECC, jointly owned by Nippon Yusen Kabushiki Kaisha (NYK) and Wallenius Lines, has signed a contract to construct three new generation PCTC with China Ship Building Trading Co., Ltd and Jiangnan Shipyard Group Co.

Short-sea RoRo company UECC has confirmed an option with China Ship Building Trading Co., Ltd and Jiangnan Shipyard Group Co. Ltd. for a third hybrid-battery LNG vessel, this time for use on UECC’s Atlantic short-sea trade routes.“This order is another step in our commitment to cleaner shipping,” said Glenn Edvardsen, CEO of UECC. “Our experience with LNG dual-fuel vessels has been good, and we want to keep moving forward to expand our sustainable fleet.”The company’s two first…

United European Car Carriers (UECC) has signed a contract to construct two new generation pure car/truck carriers (PCTCs) with China Ship Building Trading Co., Ltd and Jiangnan Shipyard Group Co. Ltd.The newbuilding contract also has options for two additional vessels, and the first vessel is planned for delivery in 2021. UECC is jointly owned by Nippon Yusen Kabushiki Kaisha (NYK) and Wallenius Lines.The vessels will be equipped with a Battery Hybrid LNG Solution which will place UECC beyond IMO’s target for a 40 percent reduction in carbon intensity by 2030.“This is a giant leap towards decarbonization, and unlike anything else that has been done previously in our industry…

Evoqua Water Technologies has initiated the second phase of its partnership with Chinese marine equipment supplier Hai Cheung Trading Co. Ltd. Marking another development to the partnership agreement between Evoqua Water Technologies and Chinese marine equipment supplier Hai Cheung Trading Co. Ltd. signed in February, and which initially covered the sale and supply of Evoqua’s SeaCURE System into the Chinese market, Hong-Kong based Hai Cheung will now manufacture and distribute the ballast water management solution under license in China.

A ship recycling facility in Izmir, Turkey, ISIKSAN SHIP RECYCLING and TRADING Co. Ltd., has been issued a Statement of Compliance (SoC) from classification society ClassNK verifying that the facilities are in line with the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009 (HKC). Although the HKC has yet to enter into force, ISIKSAN has carried out substantial improvements to its facility in a bid toward safer and greener ship recycling…

Japan’s port of Matsuyama welcomed NYK-operated M/V Nord Neptune, the first panamax coal carrier to visit the port, on June 10, 2017. The Ehime prefectural government and the Shikoku Regional Development Bureau of the Ministry of Land, Infrastructure, Transport and Tourism recently completed an international logistics terminal project to reconstruct the port by deepening the berth to 13 meters. To help the berth accept large vessels, NYK provided technical support through Sumiseki Trading Co. Ltd. which operates a coal center at the port.

The market for LNG in Singapore is projected to grow at a CAGR 10.39% during 2016-2025, due to the push from Singapore government towards adoption of cleaner energy sources, capacity addition of natural gas / LNG based power plants and emergence of Singapore as a regional trading hub for LNG in Asia-Pacific. "Growing demand from power generation sector, favorable LNG prices and government initiatives to setup Singapore as LNG hub is expected to drive Singapore LNG market," says the report by TechSci Research. Pavilion Energy, a wholly owned subsidiary of Pavilion Gas Pte Ltd. inked an agreement with BP in 2016, under which the British company would supply around 0.4 million tonnes per year of LNG for 20 years from 2019, thereby increasing the supply of LNG in the country.

Odfjell has ordered four chemical tankers (with options for an additional four) with stainless steel cargo tanks from China Shipbuilding Trading CO., Ltd. and Hudong-Zhonghua Shipbuilding (Group) CO., Ltd. The ships cost $60m each. The 49,000 dwt ships, with a cargo capacity at 54,600 cbm, reportedly makes them the world's largest stainless steel chemical tankers, according to the Norwegian owner. The first ship is expected to be delivered in June 2019 and the following vessels with three months intervals.

Italian shipbuilding group Fincantieri and Chinese shipyard specialized in ship repair and refitting activities Huarun Dadong Dockyard (HRDD) have signed in Shanghai an exclusive cooperation agreement in the field of ship repair and conversions aimed at serving the cruise ships based in China. The deal includes the development of technical skills, project management and logistics procedures. In particular, Fincantieri, through its Ship Repair and Conversion business unit, will provide…

Naftomar Shipping And Trading Co. Ltd. Inc., which is engaged in shipping and trading liquid petroleum gas, contracted China’s Jiangnan Shipyard to build two Very Large Gas Carriers (VLGC), say local media reports.   The Voula, Greece-based company has ordered one 84,000 cu m , with an option to construct one more. Other contract details, financial details of the deal and the delivery date of the ship  were not revealed.     According to Jiangnan Shipyard this is their first working relationship with Naftomar.    Jiangnan Shipyard is the leading VLGC yard in China, with a total of 11 VLGC currently on order. Jiangnan is a subsidiary of China State Shipbuilding Corporation (CSSC).

Leading shipping services group, Clarkson PLC, says that James Hughes-Hallett will join the Board as a Non-Executive Director with immediate effect and will take over as Chairman from 1 January 2015 when Bob Benton will retire from the Board. Clarksons explain that James Hughes-Hallett brings a wealth of experience in the world of shipping, transportation, offshore and global trade, having worked for the Swire group since 1976. He is currently chairman of John Swire & Sons Limited, a Non-Executive Director of Cathay Pacific Airways Ltd, Swire Pacific Ltd and Swire Properties Ltd. He is a Director of Steamships Trading Co Ltd and is Chairman of United States Cold Storage Inc.

China Shipping Industry (Jiangsu) has begun construction of the largest container ship yet to be built in China. The 10,000TEU container ship is being built for China Shipping Container Lines Co., Ltd. (CSCL) which the shipbuilders describe as the realiization of their dream by the construction of the centennial [sic] vessel for CSCL and of creating a world first-class enterprise. The ceremony was presided over by Mr. Wang Yiling, the Executive Director of CICJS. General Manager of China Shipping Industry Co., Ltd. (CIC) Ye Xiaojian made an address of welcome.

Stolt Tankers B.V., a subsidiary of Stolt-Nielsen Limited (Oslo Børs: SNI), has announced  that it has reached an agreement with Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong-Zhonghua) and China Shipbuilding Trading Co. Ltd, (CSTC), under China Shipbuilding Group Corporation (CSSC), for five plus three options 38,000 deadweight ton (dwt) stainless steel parcel tankers, with deliveries expected to take place from December 2015 onwards. The agreement is subject to satisfactory financing being obtained. The ships were designed to deliver substantial improvements in fuel efficiency, while providing operational flexibility with their fully stainless steel cargo tanks, cargo pumps, heating and cooling capacity.

Experienced shipping and finance professionals in new board for USTC companies. One of the biggest and fastest expanding companies in Denmark, A/S United Shipping & Trading Co Ltd. headquartered in Middelfart, is strengthening its organization with a new board of directors who will also take up positions in its subsidiaries Bunker Holding A/S and Uni-Tankers A/S. The composition of the board aims to encompass the expertise required to enable the parent company and its two shipping related subsidiaries to further develop in a difficult market.

Following a successful run of deliveries to Bourbon’s Liberty 200 series of AHTS vessels, the offshore services specialist has now placed orders for a further four state-of-the-art MacGregor anchor-handling systems from Cargotec. Cargotec has won a contract to supply four sets of MacGregor anchor-handling systems to a series of anchor-handling tug supply (AHTS) vessels on order at Sinopacific Group in China for major offshore oil and gas services company, Bourbon. The AHTS vessels are based on a SPA80 design, which has been jointly developed by Bourbon and its partner Shanghai Design Associates (SDA). The anchor-handling equipments are scheduled for delivery in 2011.

The Export-Import Bank of China has agreed to lend $370 million to two state-owned conglomerates contracted to build five oil ships for Iran. The deal marks the largest loan yet by the Eximbank, which was founded in 1994 to help finance Chinese machinery exports. The loans to China Shipbuilding Industry Corp. and China Shipbuilding Trading Co. Ltd. reportedly carry export credit insurance worth $500 million. The contracts with Iran are China's first to build and export oil ships of the 300,000-tonnage size, marking a breakthrough for the domestic shipbuilding industry.

Shipping and trading company IMC Holdings Ltd. on Thursday said it plans to build a $32.1 million chemical tanker in China, scheduled for delivery on May 31, 2003. A company statement said that IMC plans to fund 70 percent of the $32.1 million with loans and the other 30 percent with its internal resources. IMC signed the building contract with China Shipbuilding Trading Co Ltd in Beijing, as well as China and Dalian Shipyard in Dalian.