Latest News – Page 803
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News
Credit crunch could compromise maritime safety
According to a recent poll of Lloyd?s List readers, some 70% of those polled have serious concerns that shipping industry safety standards will be hit by the global economic crisis. "Marine insurers and regulators are concerned about a ?flight from quality? as companies grapple with the financial impact of the ...
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Rig industry hit by cancellations
A weaker global demand for energy has forced cancellations that are hitting the world?s profitable oil rig industry. Production is now slowing and exploration budgets have been cut back in recent weeks as the economy worsens and builders have reported a slow uptake on new orders coupled with cancellations and ...
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Korea and India restructuring shipyards
In South Korea, the scale of restructuring is evident, though analysts say that the 'first round' of restructuring had not been dramatic. They say that a large scale second phase would begin in February. The world?s largest shipbuilding market is set to concentrate on business diversification, and may choose to ...
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Turku yard cuts labour force
STX Europe?s Turku Shipyard in Finland will lay off 1,060 workers due to its meagre order books. STX Europe has commenced talks with unions regarding redundancies which will affect workers in the yard and administration. Around 900 ship yard workers and 160 office workers will laid off.
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Credit crunch impacts on Davie Yards
Davie Yards? most significant client, Cecon, has informed the Canadian shipbuilder that it has received a notice of cancellation of its $200 million credit facility from DNB NOR Bank. Cecon has told Davie that it will consider and pursue new financing options and has retained First Securities and Pareto Securities ...
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Biofuels creating crisis
A recent study highlights problems linked to converting crops into biofuels. Taking up valuable land and growing edible crops for biofuels poses a dilemma as to whether it is ethical to produce inefficient renewable energies at the expense of an already malnourished population. David Pimentel and his colleagues from Cornell ...
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Daewoo to deliver mega boxship to MSC
A new mega container ship from South Korea's Daewoo shipyard will soon be named the ?MSC Danit?. The new 14,000 TEU vessel will be delivered only weeks after the 14,000 TEU ?MSC Daniella? came down the slipways of the Samsung Heavy Industry yards. While the recently launched ?MSC Daniela? was ...
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Goldenport rescheduling vessel deliveries
Goldenport Holdings Inc., the Greek international shipping company that owns and operates a fleet of container and dry bulk vessels has reached an agreement with COSCO (Zhoushan) Shipyard in China to reschedule the delivery dates of the four new-build 57,000 DWT bulk carriers on order at the yard, at no ...
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ABS adopts new FPSO structural requirements
The American Bureau of Shipping (ABS) has adopted new structural requirements for the evaluation of FPSO units. The criteria are contained in a revised version of the ABS Guide for Building and Classing Floating Production Installations. The new standards will be mandatory effective July 1, 2009. Companion requirements for newbuild ...
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The mega boxships just keep coming
As freight rates plunge, the leading players in the container shipping sector hope to muscle aside smaller rivals by unleashing a wave of mega boxships during the biggest dip in global trade since World War II. The trend could keep sea freight rates depressed well into 2010 which is good ...
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Danish owners stuck with new ships
The large Danish shipping companies will not consider abandoning their agreements to take delivery of newly built ships ordered when freight rates and ship prices where high. But both Norden and Torm are ready to negotiate with the shipyards, if they are interested in cancelling or postponing the agreements. "We ...
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Nordic Ferry to deploy large HS ferry
Nordic Ferry Services will deploy one of the world?s largest high-speed ferry on its service between Ystad in Sweden and Ronne on the island of Bornholm when the new invitation to tender becomes effective in two years? time. The new tender will be effective on September 1, 2011 and runs ...
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Zim delays newbuilding programme
Zim Integrated Shipping Services is holding discussions with South Korean shipyards to delay the delivery of new containerships by a year. The Israeli company is scheduled to receive nine boxships this year. Its aggressive fleet expansion strategy has backfired in the wake of the global financial crisis, and Zim?s parent ...
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Mideast shipowners stand firm on orders
A recent analyst report from Drewry Shipping said orders for at least 30 new tankers have been cancelled since last August. However, shipping companies in the Middle East insist they will not follow suit according to Saleh Al Shamekh, president for oil and gas at the National Shipping Company of ...
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Armorique joins Brittany Ferries
Car-passenger ferry 'Armorique' has been delivered from STX Europe's Helsinki yard in Finland to the French operator Brittany Ferries. The vessel is worth approximately 110 million euro and has given some 700 man-years of work for the yard.The new type of ferry was developed by STX Europe in close cooperation ...
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'Clipper Panorama' boosts Irish Sea service
Clipper Panorama, the second of Seatruck Ferries? eight newbuildings, enters service on the Irish Sea service linking Warrenpoint with Heysham on Sunday, January 25.This new roro freight ferry will join sistership Clipper Point on the Warrenpoint-Heysham route, boosting capacity on this service to around 120,000 freight units annually. During 2008 ...
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Idle boxship fleet growing
The number of containerships laid up is growing very fast according to French maritime consultant AXS-Alphaliner. It projects that the volume of containerships on standby will jump to the equivalent of 750,000 teu in early February this year, accounting for 6% of the entire global boxship fleet. Alphaliner estimates that ...
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Vale signs newbuild contracts
Vale, the Brazilian mining giant, signed a contract with three national shipyards for the construction of 15 new tugs, 32 barges and two pushers. With the order, Vale will be investing $171.1 million to help boost the Brazilian marine industry, generating about 2,370 direct and indirect jobs. The tugs will ...
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BigLift expands heavy lift fleet
Five more heavylift vessels will be added to Amsterdam-based BigLift Shipping. The 17,500 dwt 1A ice-class vessels will each have two 400-tonne cranes and one 120-tonne crane. These "D-4" ships are further developments of the "D-gracht" vessels from BigLift?s parent company, Spliethoff. The newbuildings will have high allowable deck loads ...
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C&Heavy bites the dust
It appears there is now no way back for cash strapped C&Heavy Industries, a medium sized Korean shipyard and important part of shipping conglomerate C&Group. The Mokpo-based yard had all credit cancelled this week by the Korea Federation of Banks. C&Heavy Industries, which focused predominantly on 81,000 dwt bulk carriers, ...
