Jinse Shipbuilding Co., a recent addition to the Korean shipbuilding industry based in Busan, will use AVEVA Marine to build its first ships. Jinse received orders for 32,000-dwt and 180,000-dwt bulk carriers, with the former due to be delivered by early 2008. “The onus is on us to build high quality ships in the most efficient manner,” said Kim Tae Hyoung, Director of Jinse Shipbuilding Co. “We believe that AVEVA Marine will lead to higher production accuracy, savings in calendar time and less rework.”
As the downturn in the number of new vessel orders last year took hold, shipyards’ flexibility to switch sectors to take orders became a key factor in their ability to face up to an extremely challenging period, says Clarksons Research. Tanker newbuild orders provided one source of business amongst the gloom, so how able did yards prove in demonstrating their adaptability to take advantage of this demand?
Bergesen d.y. Group ASA exercised an option to buy two more VLCCs from Japan's Hitachi Zosen Corp. The total option price for the 296,000 dwt vessels is about $131.7 million. The two vessels will be delivered in March and May, 2001. Bergesen also announced that it has bought oil/ore carrier Grand Phoenix for $23 million. The 291,000-dwt carrier, built in Japan in 1986, will be delivered by the end of March.
TEN, the New York quoted Greek tanker company controlled by the Tsakos family, confirmed it has bought for nine ice class 1A tankers from Western Petroleum for $530 million. The fleet consists of six 53,000-dwt medium range chemical/products carriers delivered by Hyundai Mipo Dockyard last year and three 116,000-dwt coated aframax products carriers for delivery from Hyundai Heavy Industries in May August and October this year
As tonnage in the East Coast South America (ECSA) region continued to outnumber fresh grain requirements, Supramax front-haul freight rates fell this week, reports Platts, quoting shipping sources. The rate for carrying a 50,000 mt grain stem from ECSA to the Far East continued at that level until it fell to $9,500/d plus $95,000 ballast bonus Tuesday. It was $10,000/d plus $100,000 ballast bonus February 27.
Russia’s PAO Sovcomflot (SCF Group) subsidiary SCF Tankers Ltd. has won an auction for nine arctic-going tankers that belonged Primorsk International Shipping Ltd. (PRISCO), who filed for chapter 11 protection in January 2016. The purchase deal is worth $215 million, and the auction results have been approved by the U.S. Bankruptcy Court for the Southern District of New York, which is handling PRISCO’s bankruptcy case. SCF Tankers outbid Denmark’s Hafnia Tankers Ltd
Unitor, Norway's international ship supply specialist, has garnered its largest ever single order for ships equipment with a $6.8 million contract from Poland's Stocznia Szczecinska SA (Szczecin Shipyard) for nitrogen generator systems for eight 40,000-dwt chemical tankers under construction at the yard. The order encompasses the delivery of Unitor's 35-ton, hollow-fibre, air separation nitrogen generator system, to each tanker comprising four 360 kW compressors and nitrogen generators
Considerable effort, particularly following the oil embargo of the 1970s, has been placed on reducing the fuel oil consumption of ships, a task readily handled by a series of improvements in hull shapes, the fitting of energy savings devices, and improvements to the performance of main engines. A group of engineers from the Tsu Research Laboratories — Koichiro Matsumoto, Kazuyoshi Hirota and Kenji Takagishi - however, noted that while performance in still water was gaining, other factors
Through its subsidiary, Cory Towage Limited, The Wijsmuller Group has been awarded a contract for marine services at the Ash Shihr oil export terminal in Yemen for Canadian Occidental Petroleum Yemen, which is familiarly known as CanOxy Yemen. The Ash Shihr terminal deals with crude originating inland, which is piped to the terminal storage tanks from where it is then pumped to loading tankers at the single point mooring buoy (SPM) - three miles offshore
Providing ship repair, conversion, new construction and related services for barges and other vessels, FirstWave/Newpark Shipbuilding has garnered three new contracts. Pleiades Shipping Agents awarded the company for collision damage repair of 55,000-dwt vessel, MT Nestos. The ship, which sustained damage on its port side near the bow and just above the waterline, underwent repairs at the company's East Pelican Island facility.
MidEast tanker rates fall to $22,000 a day, below breakeven; 52 VLCCs to be delivered this year, highest since 2011. Freight rates for very large crude carriers (VLCCs), which fell to four-month lows this week, face an uncertain direction next week as refinery maintenance and excess
Freight rates for very large crude carriers (VLCCs), which fell to five-month lows this week, are set to drop further as excess tonnage and an absence of port congestion weigh on the market, brokers said. Supertanker charter rates, which are already below the breakeven levels for ship
MidEast, West Africa rates diverge; oil output curbs in Iraq and West Africa could weigh on tanker market. Freight rates for very large crude carriers (VLCCs) are likely to remain under pressure with hire rates from the Middle East to Asia tracking lower in the face of excess tonnage in
Freight rates for very large crude carriers (VLCCs), which fell to a near six-month low on Thursday, will remain weak until the Asian refinery maintenance season gets completed, starting April-end. "I haven't seen a collapse in rates like this for some time
Rates gain 10 Worldscale points in a week; but rates in 2017 may be lower than this year -Bancosta. Freight rates for very large crude carriers (VLCCs) may slip next week as the pre-Christmas cargo flurry, which propelled hire rates to an eight-month high on Thursday, peters out
34 VLCC MidEast cargoes fixed for early Jan -Reuters terminal; only nine fixed so far for mid-Jan. Freight rates for very large crude carriers (VLCCs), which hit a new nine-month high this week, are on course to soften amid a weaker cargo market as owners wait for more charters to be
The Great Eastern Shipping Company Limited (GE Shipping) has signed contracts to buy 2 Suezmax crude Carriers of about 157,000dwt each. The 2010 and 2011 built vessels are expected to join the company's fleet in Q4 FY17.
Unipec charters 20 VLCCs for West Africa, MidEast cargoes; China's oil demand to climb 3.4 pct this year - CNPC. Freight rates for very large crude carriers (VLCCs) are expected to remain stable next week as buoyant chartering activity from the Middle East is offset by the large number of
Chartering activity could slow down in March due to refinery work; growth in tanker fleet could climb 6.5 pct, pressuring rates. Freight rates for very large crude carriers (VLCCs) are likely to fall next week as charter activity from China slows ahead of the Chinese New Year holiday
Corvus Energy Inc. has announced that it has been selected as the supplier of the lithium ion based energy storage system (ESS) for a new hybrid chemical tanker being built for Rederiet Stenersen AS of Norway. The chemical tanker will be the first vessel of its kind to utilize an ESS
25 MidEast cargoes still to be fixed; VLCC rates fall to 4-month low. Freight rates for very large crude carriers (VLCCs), which hit a four-month low on Thursday, are likely to hold around current levels or nudge higher as charterers fix the final charters in February's loading
Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with SwissMarine Services, Geneva, for one of its Capesize dry bulk vessels, the m/v Houston
Around 30 VLCC charters in Feb so far, versus 50 last month. About 40 refinery facilities to close for maintenance. Freight rates for very large crude carriers (VLCCs), which fell to multi-week lows on Thursday, could slip further as refinery maintenance in Asia weighs on cargo volumes
Chinese Maritime Court has sold five vessels of bankrupt Wenzhou Shipping, subsidiary of Zhejiang Shipping Group, through online auctions on Taobao.com for a a total price of $22.81m. The auctioned ships include 2011-built 57,000-dwt supramax bulker Zhe Hai 167
A report by Clarksons Research said that following an extremely weak year for product tanker contracting in 2016, the product tanker orderbook has declined significantly and at the start of February 2017 was equivalent to 10.2% of fleet capacity, the lowest level in nearly 17 years.