Cosco Nantong wins rig double [Offshore]
Singapore-listed Cosco Corporation said its 51% owned subsidiary Cosco Shipyard Group had won a $356m contract for two jack-up drilling rigs. In a filing to the Singapore exchange, the company said Cosco Nantong Shipyard, a subsidiary of Cosco Shi...
2011-05-27 06:58:13
Frontline braced for weak tanker rates [Shipping]
Major VLCC player Frontline earned an average of $27,400 per day on the spot market for its double-hulled very large crude carriers in the first quarter of this year, and expects further poor returns in the second quarter as the tanker market for lar...
2011-05-27 06:53:41
Banks move to fund drillships [Finance]
As overcapacity hits the shipping sector, banks are turning their attention to rigs and drillships. Banks are confident — and indeed keen — they can meet the finance requirements of the growing offshore drilling market. This is in ...
2011-05-27 06:48:28
LNG market soaring [Shipping]
The LNG market is poised to open up, as the number of speculative newbuildings increases and owners seeking refuge from a tanker sector plagued by overcapacity opt for a spate of conversions. The recent purchase by Stena Bulk of three vessels offl...
2011-05-27 06:44:24
Murmansk to order bulkers [Shipbuilding]
Murmansk Shipping Company is planning to order bulker newbuildings. The Russian company said it will order two bulkers of 75,000 dwt and two of 35,000 dwt to upgrade its dry cargo fleet. It will use its own funds, it added. Murmansk has 21 bul...
2011-05-27 06:39:16
Samsung pens LOI for 13,000TEU's? [Shipbuilding]
George Economou’s order for 13,000-teu vessels at Samsung is said to be subject to a firm charter being found. Greek shipowner George Economou is keen to expand his involvement with containerships but has so far not signed any firm contracts. ...
2011-05-26 14:04:44
Daewoo inks LNG carrier pair [Shipbuilding]
Daewoo Shipbuilding & Marine Engineering won a fresh LNG carrier newbuilding order for the first time in three years and four months since January 2008. The South Korean shipbuilder signed a contract with Norway's Awilco LNG AS in Oslo Norway on M...
2011-05-26 11:52:39
Daewoo wins Clean Ship [Shipping]
Nor-Shipping has announced the winners of the 2011 Clean Ship and Next Generation Ship Awards. The awards, which showcase industry excellence, were presented by Norwegian Minister of Trade & Industry Trond Giske and Henrik Madsen, CEO of Det Norske V...
2011-05-26 08:07:14
Rongsheng VLOCs delayed [Shipbuilding]
China Rongsheng Heavy Industries Group Holdings Ltd. may deliver as few as two very large iron ore carriers this year, six fewer than planned, because of delays in building the vessels that cost about $140 million each. The shipbuilder will hand ...
2011-05-26 07:58:56
Rolls-Royce recognized for innovation [General]
Rolls-Royce, the global power systems company, has received the Next Generation Ship Award for its Enviroship Concept. The winning ship design is for a short-sea general cargo vessel which integrates a highly efficient gas power and propulsion system...
2011-05-26 07:52:50
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