Warning of tanker's over fleet growth [Shipping]
Assessment of the tanker market’s fundamentals for the years to come is becoming increasingly difficult, as more and more factors are joining the equation. According to a latest report by Mcquilling Services, a US-based researcher and maritime cons...
2010-02-18 09:13:42
Wärtsilä wins advanced lubricating syst [Equipment]
Wärtsilä, the marine industry's leading ship power system integrator, has been awarded a contract by DSD Shipping AS of Stavanger, Norway to retrofit the main engines on four DSD Shipping vessels with the Wärtsilä Retrofit Pulse L...
2010-02-18 09:04:48
Fugro lands NGH exploration job [Offshore]
UK Company Fugro Well Services is to carry out a six-week drilling program in the East Sea off South Korea starting on April 1 to explore the area’s natural gas hydrate (NGH) reserves, South Korea’s Ministry of Knowledge Economy has confirmed. Fu...
2010-02-18 08:38:09
Elcano scraps handymax [General]
Elcano has reportedly sold a vessel from its Brazilian fleet for demolition in India. Brokers say the Spanish shipowner is earning $348 per ldt for the sale of the 47,300-dwt Castillo de Olivenza (built 1983). With the handymax bulker weighin...
2010-02-18 08:35:46
IHB to issue $14m shares [Finance]
Bulgarian shipbuilding group IHB is looking to raise up to BGN 20.41m ($14.34m) in a new share sale. The owner of Varna Shipyard as well as other plants said it would issue 14.58m shares, raising its capital to 58.34m shares. The new shares are e...
2010-02-18 08:33:44
Fincantieri wins Carnival new orders [Offshore]
Carnival has unveiled a memorandum of agreement with Fincantieri for two cruiseship newbuildings built to a new prototype for its upmarket Princess brand, at a cost of €1.1bn ($1.5bn) for both ships. The order remains subject to a definitive a...
2010-02-18 08:29:47
Hanjin cancels another 6,500TEU [Shipbuilding]
South Korean shipbuilder Hanjin Heavy Industries & Construction has cancelled another containership order in a further display of strong arm tactics as its customers struggle to pay for vessels ordered during the boom times. The latest cancellati...
2010-02-18 08:27:32
DryShips inks 76K BC pair [Shipping]
DryShips has inked orders for two panamax bulk carriers in China after biding its time about dipping into the company’s large war chest for acquisitions. The Athens-based bulker and deepwater drilling company only identified the builder as “a...
2010-02-18 08:24:15
NYK converts 9,300TEU to VLCC [Shipping]
Japan’s NYK Line has managed to scale back its containership newbuilding program by switching several orders to other ship types. A pair of 9,300-teu ships that were to have been built by Ishikawajima-Harima Heavy Industries has been replaced b...
2010-02-18 08:22:31
IMO discusses NGH carriers [Equipment]
Ministry of Land, Transport, and Marine Affairs (MLTM) announced on Feb. 17th that there had been a discussion on technological levels of structure and equipments of Natural Gas Hydrate (NGH) carrier at 14th Sub-Committee on Bulk Liquids and Gases (B...
2010-02-18 07:27:00
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