All Motorship articles in Web Issue – Page 862
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News
Daewoo's technology cuts fuel consumption
Daewoo Shipbuilding and Marine Engineering (DSME) has unveiled an energy-saving device that it says will help lower vessels? operational costs with improved speed and reduced fuel consumption. The ?Pre-swirl Stator? was first installed on H.5297, a Kristen-owned 320,000 dwt VLCC and sea trials showed the stator helped increase the vessel?s ...
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Anarchy on high seas under flags of convenience
Thousands of ships plying the world?s oceans are effectively without nationality, enabling their owners to easily evade international laws and regulations says a new report from WWF, the conservation organisation and the International Transport Workers' Federation.The murky system of registering vessels to countries offering flags of convenience (FOC) is fuelling ...
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Completion of FLC - Aker Yards transaction scheduled for July
Aker Yards and the Russian company FLC expects to complete the transaction in which FLC buys 70 % ownership in three yards in Ukraine and Germany in July 2008. The agreement was announced 25 March 2008. The one remaining item in the process before the transaction is concluded is to ...
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Korean shipyards win combined $2.3 bln in orders
Hyundai Heavy Industries and two other South Korean shipyards said that they have received orders valued at a combined 2.4 trillion won ($2.32 billion) to build 17 ships. Hyundai won an order from a European shipping company to build 18 container vessels worth 1.22 trillion won. The company said it ...
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Daewoo to invest million in shipping venture
Daewoo Shipbuilding & Marine Engineering Co. (DSME) said it will invest 46 billion won ($44 million) in a South Korean shipping venture to buy more oil tankers. The stake in DK Maritime SA, the venture with Korea Line Corp., will remain at 50 %. Korea Line, South Korea's second-biggest operator ...
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Lauritzen Kosan signs contract for six newbuildings
Lauritzen Kosan has ordered six 3,700m3 pressurized gas carriers at Yangzhou Kejin Shipyard Co. Ltd. in China for delivery December 2009 through to December 2010. "The newbuilding order is a result of a very constructive cooperation between Lauritzen Kosan, Shanghai, and Changjiang Ship Design Institute, a Chinese engineering and design ...
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Maersk places bulk order for boxships
A.P. Moller ? Maersk in Denmark has signed an agreement with Hyundai Heavy Industries for the delivery of 18 container vessels in 2011 and 2012. The vessels will each have a capacity of 4,500 TEU and are designed to meet the highest demands for safe and economic transportation of goods ...
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Shipping wasting million of barrels of oil every day
As Saudi Arabia announced a 200,000 barrel increase in oil production and consumers grapple with record pump prices and fuel shortages, the shipping industry consumes daily 4.37 million barrels of oil unnecessarily, new research has revealed. The figures, from leading maritime technology company DK Group and backed by United Nations-commissioned ...
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STX bid pushes up Aker share price
Shares in Aker Yards ASA jumped 15 % in opening trade, leading up a stronger overall market, after South Korea's STX Corporation announced that it is to launch a bid for the firm after hiking its stake beyond the 40 % mandatory offer threshold, dealers said.Earlier today, STX said it ...
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JES wins more orders
Chinese shipbuilding group JES International Holdings Ltd. has won shipbuilding orders worth a total of $247.5 million. The company said it secured an order from Croatia's Atlantska Plovidba to build four 79,800 dwt Panamax bulk carriers for $45 million each, and an order from Indonesia's PT Pertamina to build an ...
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Shtokman contract for Murmansk shipyard
The Sevmorput shipyard in Murmansk has signed a contract with the Vyborg Shipyard, one of Gazprom?s main contractors in the Shtokman project, to assemble the two platforms which will be used in the Shtokman projectThe shipyard will join together the semisubmersible platform hull currently under construction in Vyborg, Russia, with ...
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STX cancels newbuilding order
STX Shipbuilding has cancelled a 220.7 billion won ($212 million) contract for two bulk carriers after the European customer failed to make the initial payment. The contract was signed in November last year for four 181,000 dwt bulk carriers due for delivery by June 2010. The shipyard is in talks ...
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Vietnam launches its biggest FSO vessel
The hull of a 150,000 dwt FSO vessel, the FSO-5, was launched recently at the Nam Trieu Shipbuilding Industrial Corporation, NASICO, a member of Vinashin, in the northern port city of Haiphong. This is the biggest vessel of its kind ever built in Vietnam and was ordered by the PetroVietnam ...
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?K? Line to become Strategic Investor in FLEX LNG
Kawasaki Kisen Kaisha, Ltd. ("K" Line) will become a strategic investor in FLEX LNG Ltd. (FLEX LNG), having agreed to take a 15% stake in FLEX LNG through participation in the private placement of ordinary shares. As part of the strategic investment the two companies have entered into a Memorandum ...
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News
STX holds 40.4 % of Aker Yards
STX Norway AS, 66.7 % owned by STX Shipbuilding, increased its stake in Aker Yards ASA to 40.39 % and will make a mandatory bid for all the shares of the European shipyard, according to a statement filed to the Oslo stock exchange today.
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SAS on course for recovery
The order book of a once defunct firm will soon exceed R1 billion, thereby creating hundreds of new jobs, largely thanks to a relatively small injection of loan funding by the KwaZulu-Natal Growth Fund. Since the R24 million loan was made two-and-a-half years ago, the once moribund Southern African Shipyards ...
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STX poised for Aker takeover
South Korea's STX Shipbuilding made a surprise $110 million bid to buy up to 7.92 % of the shares in Norwegian shipbuilder Aker Yards which would raise its stake to 47.15 % of the group. Already the biggest Aker Yards shareholder with a 39.23 % stake, STX offered to buy ...
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R-R opens St. Petersburg office
Rolls-Royce has opened a new office in St. Petersburg to further support activity within the growing Russian marine market. St. Petersburg has become the Russian shipbuilding capital, with 60% of the country?s shipyards and marine design, research & development and education facilities located there. Russia holds six per cent of ...
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Daewoo secures order for four newbuilds
Daewoo Shipbuilding & Marine Engineering has received a 532.8-billion-won ($519 million) order to build four vessels. The deal with a European shipping company calls on Daewoo to deliver two oil tankers and two bulk carriers by December 2011.
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Cosco to slow down
China Ocean Shipping (Group) Co (COSCO) is mulling over a plan to reduce the service speed of all of its ships by 10%, in order to lower fuel consumption and reduce emissions. At the start of the year, the state-owned company launched a pilot scheme cutting the speed of its ...
