ICBC-Vitol ink S&LB deal for tankers
ICBC Financial Leasing (ICBCFL), an affiliate of the Industrial and Commercial Bank of China (ICBC), signs a Sale and Leaseback deal with Vitol of the Netherlands, one of the largest oil traders in the world, for 11 tankers. ICBCFL seems...
CHN–US trade war expected to harm TK market
The China–US trade war has a negative effect on the outlook for 4Q tanker shipping market, Allied Shipbrokers noted. George Lazaridis from the Greek shipbroker said China, the main importer of the US oil this year, is now to discourage...
"Idle boxships double at year-end"
A report predicted that idle container tonnage may double to the current level at the end of the year. According to Alphaliner, the current idle tonnage amounts to 341,000-teu at the end of July, and the number may reach up to 750,000-teu due ...
IHI walks out on shipbuilding industry
Japanese heavy industry group IHI closed Aichi Works, its shipbuilding business base located in Aichi Prefecture, on August 10. The shipyard has been one of the symbols of Japan’s shipbuilding capability and was one of the top three Japanese ya...
Grimaldi encourages early delivery of Ro-Ros
Italia's Grimaldi Group offers a premium option to Nanjing Jinling Shipyard for early delivery of 12 hybrid Ro-Ro vessels. CEO Emmanuel Grimaldi has recently noted through interview with a local media outlet, "We have just made an offer to the...
BAE to realize 1st Australian digital shipyard
BAE Systems Surface Ships Ltd(BAE), a defense industry company in the UK, plans to digitalize an Adelaide-based shipyard of ASC, an Australian naval shipbuilder, for construction of anti-submarine warfare frigates it won from the Royal Australian...
MOL tests Auto Berthing technology
Mitsui E&S Shipbuilding Co., Ltd. (MES-S; President: Tetsuro Koga; Headquarters: Chuo-ku, Tokyo), Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda; Head Office: Minato-ku, Tokyo), Tokyo University of Marine Science and Tec...
Damen Marine components to supply Chilean navy
Damen Marine Components has won a contract to supply steering gear, rudders and stern tube parts for an Antarctic Research vessel of the Chilean Navy, under LRS -Polar 5 Class notation. The contract was awarded by ASMAR Talcahuano Shipyard, Chile...
Fincantieri orderbook stacks more than 100
Italian shipbuilding group Fincantieri revealed that its order backlog exceeded 100 units. In its 1H result data, the company said its overall orderbook values at EUR29.8bn, which is six times its 2017 revenue. As of June 30, its orderbook log...
China floats first pipeline-inspecting ship
China has put its first self-developed pipeline inspection ship into operation. The ship Ocean Oil 791 was delivered to CNOOC last month. The unit is designed by Shanghai Merchant Ship Design Research Institute under CSSC. With electrical p...
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