DSME's New VLCC Hold [Shipbuilding]
Korea's Daewoo Shipbuilding & Marine Engineering developed a new hold structure for very large crude carriers. As for VLCCs, it has been necessary to add Cross Tie (marked in a dotted circle in the pictures above and below) to each hold structure ...
2010-05-13 06:45:00
Sinotrans and Valin cooperate [Shipping]
Two Chinese national tycoons, namely Sinotrans and Valin Group have signed strategic frame agreement. Both giant will deeply carry out cooperation in shipping, port construction, steel procurement and logistics. Valin is among top 10 steel supplie...
2010-05-12 09:53:39
Mawei secures an accommodation ship [Offshore]
Marine Asset Corporation (MAC) recently announced an order with Chinese Mawei Shipbuilding to build a semi-submerged accommodation ship, namely MV CSS Accommodator. MAC said the newbuilding contract had already been inked, which was valid from May...
2010-05-12 09:52:20
Waiting for next peak [Shipbuilding]
Jingjiang city, located in Jiangsu Province China, has become China’s largest private shipbuilding base. The statistics shows the output of Jingjiang occupies 36% of Jiangsu and 11.1% of global share last year, with CNY39bn ($5.7bn). Yangzijian...
2010-05-12 09:48:02
Greek fund eyes bulkers [Shipping]
A new Greek private equity fund fronted by a relatively new shipowner is looking to go on a $150m bulker splurge. Achilles Vardakis and Danad Shipping are the known names behind the new fund being launched by Prudent Asset Management which was on...
2010-05-12 08:23:21
Shipbuilder sells AHTS pair [Offshore]
Two anchor-handling tug supply vessels (AHTSs) have been sold by Zhanjiang Habin Shipyard, brokers revealed Tuesday. The 5,150-bp Opu Tamuno 1 (built 2009) and the 5,150 Ibi Teme (built 2010) have gone to unnamed Nigerian buyers, according to shi...
2010-05-12 08:21:39
Vale converts VLOCs [Equipment]
Sale and purchase brokers have reported mixed reviews for the dry bulk and tanker sectors as Vela International offloads five single-hulled very large crude carriers to Vale for conversion to bulk carriers. The shipping arm of Saudi Aramco has repo...
2010-05-12 08:19:32
Hudong Zhonghua wins 10 pax. [Shipbuilding]
Shanghai’s Hudong Zhonghua Shipbuilding, an offshoot of state-owned China State Shipbuilding Corp, has won five contracts for 10 panamax bulkers, including deals for its most popular 76,000 dwt ship, in the first five months of this year. Hengh...
2010-05-12 08:16:39
China buys $14m VLCC [General]
Chinese scrap buyers have purchased their first very large crude carrier of the year as sentiment in the Indian subcontinent demolition markets continued to soften last week. After hitting levels in the mid-to-high $400s per ldt last month, rates ...
2010-05-12 08:15:00
STX Europe seeks fresh financing [Finance]
STX Europe, the Oslo-based shipbuilder, is likely to apply for new financing arrangement despite reporting record earnings and a steady order backlog in its offshore vessel division. The European division of Korea’s STX Group reported a first quart...
2010-05-12 08:13:17
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