China Navigation Orders MacGregor Machinery for Four New Vessels
China Navigation Company's (CNCo) four new Chief Class 22,000dwt multi-purpose vessels ordered from Zhejiang Ouhua Shipbuilding Co. Ltd. (Ouhua), on Zhoushan Island in China, will each feature three 60-ton variable frequency drive (VFD) MacGregor cranes and hydraulically-operated MacGregor hatch covers. The order was booked in the second quarter 2013 order intake. The vessels are scheduled for delivery in late 2014 and first quarter 2015 and the contract includes options for an additional 2+2 vessels. CNCo is the deep-sea ship-owning and operating arm of the Swire group of companies and is wholly-owned by the group's parent company, John Swire & Sons.
Spliethoff Orders Six Vessels from China
Amsterdam-based shipping company Spliethoff has placed an order for six multipurpose vessels at the Zhejiang Ouhua Shipbuilding Co., Ltd., shipyard in China. The 165-meter-long, approximately 18,000 dwt vessels of this new R-Class are designed in accordance with the Polar Code for trade in remote areas such as the Arctic. With a hold length of over 100 meters and heavy lift cranes which are combinable, the vessels are engineered for operations within the specialized breakbulk market with heavy and outsized cargoes.
Erma First BWTS Installed for Evalend Shipping
Erma First ESK Engineering Solutions S.A. has concluded the installation of its Ballast Water Management System "Erma First" in two container ships being built at Zhejiang Ouhua Shipbuilding for Greek owner Evalend Shipping Co. S.A. The agreement for the installations was signed in 2012 with Erma First who was awarded the contract against seven competitors. Erma First was selected by both the shipyard and the owner on the basis of the system’s cost effectiveness, while a key factor was also the double filter system it carries.
Chinese Shipyard Delivers Bulker to Paragon Shipping
Paragon Shipping Inc. announce that it has taken delivery of the M/V Precious Seas, a 37,205 dwt Handysize vessel, from the Zhejiang Ouhua Shipbuilding Co. in China. The vessel has been chartered out to Cargill International S.A. for a period of 23 to 26 months at a gross daily rate of $12,125. In addition, the Charterers have the option to extend the charter period for an additional 11 to 14 months at a gross daily rate of $15,500. The new time charter contract is anticipated to contribute a minimum of about $8.5 million of gross revenues to the Company. Based on the latest redelivery dates, the Company's contracted revenue days currently stand at 94% in 2012, at 68% in 2013 and at 35% in 2014.
Paragon Takes New Vessel Delivery, Finances Two Other Builds
Paragon Shipping Inc. a global shipping transportation company specializing in drybulk cargoes, announced today that it has taken delivery of M/V Proud Seas, a 37,227 dwt Handysize vessel, from Zhejiang Ouhua Shipbuilding Co. in China. In addition, the company announced today that it has entered into an agreement with HSH Nordbank AG, subject to final documentation, to partially finance its first two Ultramax drybulk newbuildings, which are expected to be delivered to the company in the second and third quarters of 2014. For each of the two Ultramax vessels, HSH Nordbank AG has agreed to finance the lower of $17.2 million or 65% of the vessels' market value upon their delivery.
Chinese Shipyard Delivers Handysize Bulk Carrier to Greek Owners
Paragon Shipping has taken delivery of 37,293 dwt handysize bulker 'MV Prosperous Seas' from Zhejiang Ouhua Shipbuilding Co. China. The newly constructed vessel has been chartered out to Cargill International S.A. (the "Charterers") for a period of 23 to 26 months at a gross daily rate of $12,125. In addition, the Charterers have the option to extend the charter period for an additional 11 to 14 months at a gross daily rate of $15,500. As a result, the Company's contracted revenue days now stand at 92% in 2012, at 68% in 2013 and at 35% in 2014 based on the latest redelivery dates. The new time charter contract is anticipated to contribute a minimum of about $8.5 million of gross revenues to the Company.
Bourbon Offshore Buys Chinese Ships
Bourbon Offshore Norway AS is paying $52 million to China`s Zhejiang Shipbuilding Co. Ltd. for four platform supply ships. The Ulstein P105 vessels will be delivered between September 2007 and September 2008, BON said Wednesday. Bourbon has already taken delivery of two type Ulstein P105 vessels from Ulstein Verft. Bourbon Topaz was delivered in February 2005 and Bourbon Peridot towards the end of October 2005. Source: M&C News
Ulstein Design Wins Big in China
Bourbon has signed a contract with Zhejiang Shipbuilding Co. Ltd in China concerning the construction of four ULSTEIN P105 platform supply vessels. Ulstein Design AS will deliver the design and major equipment for the vessels. The contract has a total value of around NOK 350 million for Ulstein Design. The vessels will be delivered between September 2007 and September 2008. “This is a major and important breakthrough in the Chinese market for the Ulstein Group. China is a new arena for Ulstein Design, and we are very happy to be selling the designs and equipment for no less than four vessels when we enter this market,” says the president of Ulstein Design, Tore Ulstein. “The contracts are announced at a time when we are already very busy in the Ulstein Group.
Chinese Shipyards Bankrupted by Sluggish Demand
According to 'China Daily' Zhejiang Jingang Shipbuilding Co Ltd, headquartered in the Taizhou city of East China's Zhejiang province, recently filed a bankruptcy petition to the Taizhou Municipal Intermediate People's Court due to its significant loans and lack of new orders. Most banks regard the export-led shipbuilding industry as "high risk", refusing to underwrite or extend loans to related companies. The Jingang shipyard is only one among many similar Zhejiang-based shipyards that have suspended business and dismissed employees due to the difficult market conditions. In June, Ningbo Hengfu Shipping Trade (Group) Co Ltd and Ningbo Beilun Sky Shipbuilding Co Ltd both filed motions to sell off assets.
Terragon Trash Tech for BigLift Ship
Terragon Environmental Technologies Inc. and Marship Engineering entered into a contract with Zhejiang Ouhua Shipbuilding China to supply a MAGS V8 for the new build vessel mv Happy Sun of Netherlands based BigLift Shipping (a member of the Spliethoff Group). As shipping companies are increasingly under a microscope regarding their emissions to the environment, the decision by BigLift Shipping to chose MAGS gasification technology reflects its role as an early adopter of innovative technologies on their ships.
Seaspan Buys Two Ships
Seaspan Corporation announced that it has agreed to purchase two new building vessels from affiliates of Conti Holding GmbH & Co. KG of Germany, increasing Seaspan’s total fleet to 25 vessels. Seaspan will acquire the two 3,500 TEU vessels upon their delivery in February and July 2007 respectively from Zhejiang Shipbuilding Co. Ltd. in China. The total delivered cost is expected to be approximately $50 million per vessel, subject to certain pre-delivery expenses remaining at budgeted levels. Seaspan also announced that it has arranged simultaneous twelve-year charter agreements for these vessels with Cosco Container Lines Co., Ltd. at $19,000 per day.
ABB Wins $45M in Propulsion Contracts
ABB in Norway has secured new contracts worth $45 million for delivery of complete electric propulsion systems to two icebreakers to be built for CJSV Sevmorneftegaz by the Norwegian shipyard Havyard Leirvik, and four Platform Supply Vessels to be built in China for Groupe Bourbon by Zhejiang Shipbuilding. The contracts with Havyard Leirvik encompass system supply to two multifunctional icebreaking offshore supply vessels for the Russian company CJSV Sevmorneftegaz. For each vessel, ABB will deliver a main propulsion package including Azipod propulsion system and a complete onboard electric power plant. The ships will be delivered in 2005 and 2006 for service in the Prirazlomnoye oil field in the Barents Sea.
Danelec Opens Office in China
Danelec Marine has opened an office in Shanghai to serve its growing business in China. The company also said it has received orders for 48 of its next-generation DM100 Voyage Data Recorders (VDRs) from nine Chinese shipyards. The orders were placed through four Danelec licensed distributors in China. The shipyards are Jiangdong, Sanfu, China Merchants Heavy Industry (Shenzhen), Fujian Mawei, Chengxi Shipbuilding, Cosco Dalian, Zhejiang Ouhua, Zhejiang Yangfan and Zhejiang Zengzhou. All of the sets will be delivered for newbuilds over the next 12 months.
China's Wuzhou Ship Repairing Goes Bankrupt
China's state-owned shipbuilder Zhoushan Wuzhou Ship Repairing & Building Co. Ltd (ZWSRB) is first government-backed shipbuilder to go under since sector started having problems last year. Zhoushan Intermediate People's Court said it accepted a petition filed by Zhejiang Shipping Group regarding the bankruptcy of a subsidiary called ZWSRB, reports Caixin. The court said it had frozen the assets of Wuzhou Ship Repairing & Building, which was founded in 2001. The shipbuilder had debts of 911 million yuan and total assets of 534 million yuan as of September 30 this year…
China Shipbuilder Seeks Bankruptcy Protection
"The company filed for bankruptcy in mid-June as it is unable to meet its debt obligations of over 300 million yuan ($47.1 million)," Yu Shengyue, director of No. 2 Civil Tribunal of the People's Court of Wenling county where the company is based, informed 'Global Times', . The major creditors include the local branches of Construction Bank of China, Agricultural Bank of China, Bank of China and Zhejiang Materials Industry Group Corp, a State-owned logistics company, according to Yu. "The debtor and the creditors are considering reorganization, because the shipbuilding industry is not in good shape and the outlook is not optimistic, either. The company still has a ship order to be delivered," he said.
Seaspan Newbuild & Time Charter
Seaspan Corporation (NYSE:SSW) announced that it purchased and accepted delivery of one 4250 TEU newbuilding vessel for approximately $43m constructed by Zhejiang Shipbuilding Co., Ltd. of China. The company also announced that it is finalizing the terms of a time charter for the vessel with United Arab Shipping Company (UASC), a liner company jointly owned by six Arab states. Seaspan expects the time charter to be for a two-year period commencing between July 1, 2010 and July 15, 2010 at a rate in excess of $20,000 per day. Seaspan funded the purchase of the vessel with existing credit facilities and with equity raised from the sale of $26m of Series B non-convertible perpetual preferred shares issued to Jaccar Holdings Limited, an investor related to Zhejiang Shipbuilding Co., Ltd.
Chinese Shipyards Sails in Rough Seas
Shipbuilders in China will continue facing rough weather. According to a report in Bloomberg, new orders received by Chinese shipbuilders fell by nearly half last year from 2014, suggesting more consolidation is in order as the country’s appetite for raw materials wanes and shipping rates languish at multiyear lows. Shipyards in China received new orders amounting to 31.3 million deadweight tons last year, a world-leading 34 percent share of the global market. Backlog orders fell 12 percent to 123 million deadweight tons, or 36 percent of global market share.
Greek Shipowner: First to Order G-Type Engine
MAN Diesel & Turbo’s assessment of the two-stroke market has borne fruit with a number of Greek shipowners showing concrete interest in the company’s new, G-type, ultra-long-stroke engine program. Athens-based shipowner Thenamaris has placed a surprise order for four 6G80ME-C9.2 engines to power 4 × 5,000-teu container vessels, to be built by Hyundai (HSHI) in South Korea. Specifications for the contract indicate a ship speed at NCR of 21.5 knots with a design draft of 12 m. Hull numbers S616 – S619 have already been assigned to the newbuildings with the first ship scheduled for delivery in August 2013. MAN Diesel & Turbo reports that another…
Wärtsilä to Supply Propulsion for 24 New Vessels
Wärtsilä, the marine industry's leading solutions and services provider, has been contracted to supply propulsion packages for 24 new vessels being built for the Singapore based China Navigation Co. Pte. Ltd (CNCo). The ships are being built at the Chengxi and Zhejiang Ouhua shipyards in China, and the contracts were signed with Wärtsilä licensee Hudong Heavy Machinery (HHM) in 2012 and during the first half of this year. All vessels will be fitted with electronically controlled Wärtsilä two-stroke common-rail main engine systems…
Death Toll Rises in China Sea Ship Collision
According to Xinhua, the death toll from an accident in the East China Sea rose to nine on when rescuers retrieved another body from a cargo ship that sank after colliding with another ship late on Saturday night. Twelve sailors have been rescued but eight others are still missing, sources with the maritime safety administration of Zhejiang Province revealed on Monday. The collision occurred at around 11 pm on Saturday near the Langgang islands, northeast of Zhoushan Island, Zhejiang Province, when a cargo ship belonging to a transport company in Shenzhen crashed into another one registered in Hong Kong. The Hong Kong ship, "Huirong", sank immediately and all its 29 sailors on board were marooned out at sea.
China Shipyard Wins Multiple Container Ship Orders
Ship operators Bernhard Schulte & US banking institution JP Morgan have come together to order a series of medium-size boxships in China. Zhejiang Yangfan Group will construct up to eight 2,300 teu boxships for the pair in a four plus four option deal with deliveries scheduled in 2014 and 2015. Pricing is thought to be in the region of US$26.5-million per ship. Zhejiang Yangfan Group is the largest shipbuilding group in Zhejiang Province and the scope of its bussiness operation includes shipbuilding and marine outfitting. Source: SinoShip News
The Switch Receives PM Shaft Generators Order
The Switch, a supplier of megawatt-class permanent magnet (PM) generator and full-power converter packages for wind power and other renewable energy applications, received another order to deliver two PM shaft generators to WE Tech Solutions of Finland. At the end of February 2015, WE Tech Solutions placed another order for two PMM 1000 M shaft generators from The Switch with the option for an additional two to be used in future WE Tech Solutions projects. WE Tech Solutions utilizes the PM machine both as generator and motor in their direct-drive permanent magnet shaft generator solution.
Latest Shipbuilding Contracts Include VLCC Order for Philippine Yard
Clarkson Hellas understand that Golden Union have declared options for three further 81,200 DWT Kamsarmax at AVIC Weihai Shipyard for deliveries throughout 2016 and 2017 to add to their existing two units currently under construction. Clients of Sealink Navigation have contracted two firm 63,000 DWT Ultramax with Imabari Shipbuilding in Japan for deliveries in 2016 for the first unit and in 2017 for the second. Also, although understood to have been signed last month, it came to light this week that they have also placed an order for two firm 34…