The National Shipping Company of Saudi Arabia (Bahri) receives the 'Bahri Abha' from South Korea's Hyundai Mipo shipyard. The new ship, of 26,000 dwt, was built especially for the general cargo trade and is the first to be delivered of six vessels that were contracted by the Company with Hyundai Mipo shipyard in 2011 for a total value of SAR 1,543 million. The remaining five general cargo vessels ordered by Bahri are under construction at Hyundai Mipo in South Korea with delivery expected during 2013 and the first half of 2014.
Hyundai Mipo Dockyard Co Ltd said on Tuesday it had decided to sell a stake worth 286 billion Korean won ($260.46 million) in steelmaker POSCO , in a bid to improve its balance sheet. Hyundai Mipo, a shipbuilding affiliate of world's largest shipbuilder, Hyundai Heavy Industries, specializing in smaller vessels, said in a regulatory filing the sale would take place before the market opens on November 19. Reporting by Joyce
HHIG to Post Record Sales Hyundai Heavy Industries Group (HHIG), which consists of Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries expects to surpass its yearly sales target up 24 percent from a year earlier. As of the end of October, HHIG secured $28.8 billion worth of contracts from shipbuilding to plant businesses _ $16.2 billion by Hyundai Heavy Industries, $5.8 billion by Hyundai Mipo Dockyard and $6.8 billion by Hyundai Samho.
Gulf Energy Maritime (GEM) awarded South Korea's Hyundai Mipo Dockyard Co. Ltd. a contract for five high specification double hulled product/chemical tankers for delivery during 2006/2007. The contract, valued at approximately $180m, is for three tankers each with a 37,000 ton capacity and two with a 47,000 ton capacity. They will be fitted with the latest deep well pumps and meet international environmental safety requirements by being completely double-hulled
Kongsberg Maritime Ship Systems (KMSS) has received an order worth $1.2 million from the Hyundai Mipo Dockyard located in Ulsan, South Korea. KMSS will supply its powerful Integrated Bridge System – BridgeLine - for fitting on four 2826 TEU Container Ships owned by Suisse Atlantique and Ahrenkiel. The complete Integrated Bridge System (IBS) installed in KMSS BridgeLine Consoles provides Radar/ARPA with the latest generation antennas and receivers, Steering Control System, Track Pilot
Ardmore Shipping Corporation today announced that it has contracted Hyundai Mipo Dockyard Co. Ltd, South Korea (HMD) for the construction of two 37,000 Dwt IMO 2 eco-design chemical tankers ordered from for approximately $32.7 million each with options for further equipment upgrades. As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels. Ardmore expects to take delivery of the contracted vessels in fourth quarter 2014 or in first quarter 2015
South Korean shipbuilders racked up large overseas orders in the first quarter, keeping them on course to far exceed yearly targets, Korea Times reported. Hyundai Heavy Industries, the world's largest shipbuilder, clinched orders worth $2.3 billion in the January-March period, compared with its full-year target of $7.4 billion. Its two affiliates - Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries - won a combined $2.75 billion worth of orders in the first quarter
Scorpio Tankers Inc. gives details of its agreement to acquire some of its own common shares; to buy back stock; and also sets out a fleet update. Scorpio Tankers Inc. says it has entered into an agreement to purchase from an existing shareholder 7,500,000 common shares of the Company in exchange for the sale to the same shareholder of 3,422,665 common shares it currently owns in Dorian LPG Ltd in a privately negotiated transaction.
MacGregor, part of Cargotec, has been contracted by South Korean shipbuilder Hyundai Heavy Industries to deliver RoRo access equipment packages for a series of two post-Panamax RoRo carriers. The vessels are under construction at Hyundai Mipo Dockyard (HMD) for the Luxembourg-based operator CLdN (Cobelfret), with options for another three. Ordered as part of CLdN's fleet expansion and modernisation program, the 235-meter-long and 35-meter-wide vessels will reportedly be the world's largest
EXMAR announced the order at Hyundai Mipo of up to 8 LPG vessels of 38,000 m³ capacity. The vessels will be delivered beginning in the First Quarter of 2014 onwards. These vessels will be dedicated to strengthening EXMAR’s already substantial commercial portfolio in the midsize segment and are designed to keep it ahead of the upcoming amendments in environmental legislation. The vessels will feature hull line optimization to reduce resistance in water with corresponding
Tanker shipping company d’Amico Tankers agreed with Hyundai Mipo Dockyard Co.Ltd. – South Korea to postpone the delivery of its first newbuilding LR1 (Long Range – 75,000 dwt)from April 2017 to October 2017. This agreement follows a specific request of an oil major
While the tanker industry worries about OPEC reducing output and the container industry rushes to consolidate, dry bulk values have been quietly increasing. VesselsValue senior analyst William Bennett digs through the data to uncover the reasons why.
Bernhard Schulte Shipmanagement (BSM), a leading global maritime services company, and Babcock International Group, the UK’s leading engineering support services company, are collaborating to develop a ground-breaking Gas Supply Vessel (GSV)
D’Amico International Shipping (DIS) announced that its operating subsidiary d’Amico Tankers (Ireland) sold MT High Endurance and MT High Endeavour, two vessels in favour of Sea World Tankers a clients of Sea World Management SAM, for a consideration of US$ 13.5 million each.
Scorpio Tankers Inc. announced today that the Company has received commitments for a loan facility of up to $172 million from a group of financial institutions including Macquarie Bank Limited (London Branch), DekaBank Deutsche Girozentrale ("DekaBank")
Tanker carrier Scorpio Tankers has landed a loan deal for USD 172 million. The money will finance 60 percent of eight new MR product tankers which are currently under construction in South Korea. The company said in a press release that it has received commitments for a loan
Philly Shipyard, Inc. (PSI), the wholly-owned U.S. subsidiary of Philly Shipyard ASA (Oslo: PHLY), held a ceremonial Keel Laying today for the fourth product tanker in a four vessel order for American Petroleum Tankers (APT), a Kinder Morgan, Inc. subsidiary.
Maritime Reporter & Engineering News (www.marinelink.com), published since 1939, annually publishes details on the world’s “Great Ships of the Year.” Of the 18 selected as “Great Ships of 2016,” here we rank the Top 10 Ships of 2016
Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. This year 18 ships in total were honored, including many “world firsts.” Texas - LNG-ready tanker for Crowley
The top four Korean shipbuilders have 2.3 trillion won ($1.9 billion) in notes maturing next year, the most in Bloomberg-compiled data going back to 1997. Bloomberg reports that some of them may have trouble paying debts without help from the government or group firms
Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. This year 18 ships in total were honored, including many “world firsts.” Lindanger - World’s First Methanol Fueled Tanker
Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding group, announced on that it signed contracts, financed by Korean financiers to build 14,500 TEU class containerships and 49,000 DWT product/chemical carriers with Islamic Republic of Iran Shipping Lines (IRISL)
Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), today delivered the American Endurance, the first of four next generation 50,000 dwt product tankers that it is building for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan, Inc.
Kongsberg Maritime has been chosen to supply a full integrated automation solution including the first delivery of its advanced new Fuel Gas Supply System (FGSS) for a newbuild 50,000 DWT LNG Fuelled bulk carrier, ordered by South Korean ship owner, Ilshin Shipping Company
The largest container vessels are designed for the greatest possible efficiency – maximum intake, minimum fuel consumption. Their smaller cousins, however, have not received the same level of attention – but this is beginning to change, says Jai Oh Sun, Engineer / Pre-Contract