COSCO Creative Design Contest [Equipment]
COSCO Shipyard Group recently launched a creative design contest for the green ship of the future. The purpose of this creative design contest was to encourage the technological innovation of COSCO Shipyard and develop innovative ideas for future...
2011-06-14 08:18:06
Hyundai-Vinashin launches 56K BC [General]
On June 13th at No. 1 Dock, Hyundai-Vinashin Shipyard (HVS), a joint venture between Hyundai Group in South Korea (70%), represented by Hyundai Mipo Dockyard (HMD), and Vietnam Shipbuilding Industry Corporation (VINASHIN) of Vietnam (30%), held the l...
2011-06-14 08:14:18
Odense to be auctioned off [General]
Odense Steel Shipyard, located in Odense, Denmark, is to be sold this week in a three-day auction. The AP Moller Maersk-owned facility is being sold off bit by bit in an auction that will see the final chapter of the country’s most productive s...
2011-06-14 08:08:32
VLGC rates inch up [Shipping]
The cost of shipping liquefied petroleum gas from the Middle East to Asia rose to a two-week high Monday as increased chartering cleared out excess ships in the Middle East Gulf. But owners’ excitement over making any money remains muted as rat...
2011-06-14 08:03:02
RCCL wins cruiseship loan [Finance]
Royal Caribbean Cruises has penned a loan worth over $850m to pay for one of its latest newbuildings at Meyer Werft. KfW IPEX-Bank has coughed up the cash for the ship after inking a 12 year facility with the company, an SEC filing says. The ...
2011-06-14 07:59:00
Italian converts aframax into FSO [Offshore]
Pietro Barbaro of Italy is dipping into the floating storage market after purchasing an aframax products tanker from Thenamaris of Greece. Sources inside the PB Tankers parent say the 109,000-dwt Seapride I (built 1999) will be converted into a f...
2011-06-14 07:55:56
Sinopacific replaces acetylene with natural gas [Equipment]
Sinopacific Shipbuilding Group's Dayang Shipyard started replacing acetylene with natural gas in cutting and fire engineering correction work for the first time recently, marking another big step by this company in its efforts for energy conservation...
2011-06-14 07:51:51
Saipem secures $1bn orders [Offshore]
Italian contractor Saipem has won a slew of engineering and construction contracts worth a total of $1bn. In Egypt, the company has secured an EPIC contract from Burullus Gas Company for new subsea developments in the West Delta Deep Marine Conce...
2011-06-14 07:46:31
LNG Newbuilds Overheat [Shipbuilding]
LNG carrier newbuilding market is overheating and industry players started to express worries. Massive oversupply has led many vessels to lay-up and profitability faced a big drop. But LNG demand is surging recently and rates soared four times ...
2011-06-14 07:38:03
Shell plans 2nd LNG-FPSO [Offshore]
Royal Dutch Shell plans to install a second LNG-FPSO at the Greater Sunrise field in the Pacific, a senior executive said Monday. Gas consumption in the world's fastest-growing major economies China and India is surging as industries and cities e...
2011-06-14 07:20:44
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