All Motorship articles in Web Issue – Page 831
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Three thousand and counting
The Liberian Registry has passed a major milestone in its history by registering its 3,000th vessel, the newly built 105,400 DWT Aframax tanker Ise Princess for Fairsea Enterprises SA and managed and operated by Tsakos Shipping & Trading SA of Greece.Scott Bergeron. Chief Operating Officer of the Liberian International Ship ...
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Seismic newbuilding cancelled
Petroleum Geo-Services ASA and its subsidiary Arrow Seismic Invest II Ltd. have exercised their right to cancel a high-capacity seismic newbuilding under construction at the Factorias Vulcano shipyard in Spain. Hull number 532 was to have been chartered to WesternGeco but this company has cancelled the charter party and all ...
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STX to help build Russian shipyard
STX Shipbuilding agreed to help build a $1 billion shipyard near the Baltic Sea port of Primorsk, Russia's biggest oil terminal, according to a statement by investment company Summa Capital. The shipyard will be completed in the next five years and focus on building oil and gas tankers p to ...
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Australian cat for Bahamas
Bahamas Ferries recently took delivery of a 41m by 12m catamaran, the Bo Hengy II, from Aluminium Marine of Queensland. Built to a design by Oceanic Yacht Design, also of Queensland, the vessel's semi-swath hull design, combined with good clearance of the bridge between the hulls, allows the high service ...
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Samsung poised to win Russian orders
Samsung Heavy Industries vice-chairman Kim Jing-wan recently said, "We may receive new orders from Russia next month." He said in an interview with local press, "From the second half considerable amount of new orders will be placed at Samsung Heavy as there are plans of offshore plant newbuilding."The South Korean ...
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Dramatic drop in newbuild prices
Researchers at London?s Clarkson shipbroking agency said that newbuilding prices plummeted again in January and would continue to fall. The price of newbuild ships fell by 6.1% in January. In the price index, prices fell from 176.5 to 165.7 in January, which Clarkson says is the most dramatic drop in ...
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Silversea seeks price cut on newbuild option
Although Monaco-based cruiseship company Silversea is keen on exercising its option for a second 36,000GT vessel, it is seeking a substantial price cut from Italian shipbuilder Fincantieri. Chief Executive Amerigo Perasso said that the company was still interested in building a new cruise ship after the initial order for one ...
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Restructuring in Korean and Chinese shipbuilding criticised
South Korean and Chinese efforts to restructure their respective shipbuilding sectors are backward looking and inadequate , according to Shipbuilders' Association of Japan executive director Nobutaka Nambu. Nambu said that he would be looking to the government to insist on a fair competition environment in the face of government intervention ...
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Srab cancels three tanker orders
Stockholm-based SRAB Shipping AB has cancelled an order for three small products tankers at Eregli Shipyard in Turkey. The company is taking an SEK 32m ($3.83m) hit from the move, as the yard retains the deposits on the 8,400DWT vessels. All three were due for delivery this year.After vessel values ...
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World bulker and general cargo fleets to grow
The world fleet of dry bulk and general cargo vessels is expected to continue growing through 2012, in spite of weak freight rates and general overcapacity of tonnage, as new ships on order are delivered from shipyards, according to the latest Shipbuilding Market Forecast from Lloyd?s Register - Fairplay Research.While ...
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Nok Bong threatened with liquidation
The Shinhan Bank in South Korea, in charge of managing the financial affairs of Nok Bong Shipbuilding, has threatened the yard with liquidation. Shinhan recommended the liquidation to Evaland Shipping, the Greek shipowner that filed a lawsuit against Nok Bong last year. Evaland said that it had an outstanding claim ...
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Bangladesh shipbreakers threatened with closure
With shipbreaking very much back in vogue in the current tough freight rate environment, owners choice of breaking yards may well be severely curtailed. Environmentalists are hailing a Bangladesh High Court decision to order the closure, in two weeks, of all ship-salvaging yards which do not have environmental clearances. The ...
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Philippines government confident Hanjin will return to Mindanao
Philippine cabinet members are confident that South Korea's Hanjin Heavy Industries and Construction Co will continue a $2bn shipyard project in Mindanao. The Korean firm started site development last year but pulled out in April after a misunderstanding with local government officials. Cabinet officials met in the far southern island ...
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China?s largest car carriers named
The naming ceremony was held for the two largest car carriers built in China to date. The pair, ordered by Norway?s car carrier specialist Dyvi and built at Samjin Shipbuilding Industry (SSI) in Weihai, are 199.90m in length, 32.26m wide and 34.55m high, and can carry 6,700 cars.Construction of these ...
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Stolt cancels tanker
Stolt Tankers has cancelled a contract for a delayed coated chemical tanker being built at SLS Shipbuilding in Korea. The subsidiary of Oslo-listed Stolt-Nielsen said the 44,000 DWT vessel was originally scheduled for delivery in May 2008.The company said that there had been "general delays" at the yard, but it ...
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China to buy up cancelled newbuildings
China Shipping Development and Sinotrans Shipping could be encouraged by Beijing to take on some of the vessels cancelled by foreign owners to support Chinese shipyards. Macquarie Research analyst Jon Windham estimated that more than 50% of the vessels on order at Chinese shipyards are from European customers and are ...
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New Queen revealed
Cunard Line revealed the first details of its 90,400gt newbuild Queen Elizabeth from Fincantieri?s Monfalcone yard, due to enter service in October 2010. The vessel will be the second largest Cunarder built in the 169-year history of the line and, with the Queen Mary 2 and Queen Victoria, will give ...
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Japan ship orders decline
Japanese export ship orders tumbled on a year-on-year basis for the fifth consecutive month in February as demand for new vessels flagged amid the deepening global economic slump. Japan received orders for export ships totalling 293,270 gt in February, 84% down from the same month of last year, according to ...
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Creditors end debt workout for C&Heavy
Creditors of C&Heavy Industries Co in South Korea announced that they have terminated the troubled shipbuilder?s debt workout program. The move came after a Malaysian fund that showed interest in taking over C&Heavy failed to put down a 10 billion won ($6.98 million) deposit before yesterday?s deadline, said a spokesman ...
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German shipyards face mounting cancellations
German shipbuilders face order cancellations worth as much as 936 million Euros ($1.2 billion) this year as the industry reels from overcapacity, the Economy Ministry said. Shipyards in ports from Emden in the west to Rostock in the east may report as many as 29 cancellations in 2009, equal to ...
