Japanese shipyards in May received foreign ship orders for 16 vessels, or 669,000 grt, up 371.8 percent from May 1998, the Japan Ship Exporters' Association said. The level, however, was down 43.9 percent from May 1997, it said. Orders in May consisted of nine bulk carriers and seven oil tankers. In April, foreign ship orders fell 40.1 percent year-on-year.
Japanese shipyards in June received foreign ship orders for 20 vessels, or 667,500 grt, down 24.4 percent from a year earlier, the Japan Ship Exporters' Association said. All of June's orders were bulk carriers. The most recent figure represented an increase of 17.8 percent compared to June 1997, it said. Last month, May orders marked a year-on-year increase of 371.8 percent.
Korean Ship Orders Up 322% New orders received by South Korean shipbuilders in February totaled 1.26 million gt, up 322.7 percent from the same month a year earlier, provisional figures from the Korea Shipbuilders' Association showed. Orders received in January-February period totaled 2.32 million gt for 37 ships, up 232.1 percent from the same period a year ago. Korea received orders for 21 new ships in February. Ten ships, totaling 718,000 gt, were completed during the month
Daewoo Heavy Industries won $483 million in ship orders last week from companies in the U.S. and Greece. It will build four ultra large crude oil carriers for Majestic Shipping Co. of the U.S., and three very large crude oil carriers for Aeolos Management S.A. and Atlantic Bulk Carrier Ltd of Greece, a company statement said. Majestic ordered two 450,000-ton ultra crude oil carriers and took options on two more. Atlantic Bulk ordered two 75
Japanese export ship orders fell 8.5 percent in June from a year earlier, reveal figures by the Japan Ship Exporters’ Association (JSEA). Japanese export ship orders fell 8.5 percent in June from a year earlier to 499,370 gross tons, according to figures released by the Japan Ship Exporters’ Association (JSEA). The 8.5 percent decline in June was the third straight monthly drop year on year and was significantly slower than the 43.5 percent drop in April and 44
According to a report from the Kyodo news service, the combined tonnage for ship orders received by South Korean shipbuilders was higher than that of Japanese shipbuilders in 2002. The Shipbuilders' Association of Japan reported that Japanese shipbuilders received orders worth a combined 5.9 million tons in the year, down 25.9% from 2001. South Korean shipbuilders reportedly received orders for a combined 7.59 million tons, up 18
Japanese shipyards received foreign orders for 21 vessels totaling 581,100 GRT in July, down 39.6 percent from a year before, the Japan Ship Exporters' Association said. In all, 19 orders were for bulk carriers and two for freighters.
The China Shipbuilding Industry Corp. (CSIC), built 3.17 million tons of new ships in 2005, up 47 percent. In 2005, the CSIC received 3.73 million tons of new orders and 2.85 million tons of new ships are under construction. The profit it earned topped $123.9 million, up 85 percent year-on-year. China's shipbuilding companies built 12 million tons of new ships in 2005, accounting for 18 percent of the world market, ranking third after the Republic of Korea and Japan
South Korea's Samsung Heavy Industries won $400 million in ship orders from companies in Greece and Germany. Samsung received an order to build four 300,000 dwt VLCC from Greece's Helespont Shipping for $280 million. It also received an order from Germany's Nordcapital Corp to build two 5,750 teu containerships worth $120 million. Samsung said it will deliver the ships to the two companies by the end of 2001. Samsung said its shipbuilding orders have reached $2
In a bid to assist all sectors, China is to increase cash subsidies for scrapping obsolete ships by 50 percent to help cut over-capacity and emissions, reports Bloomberg. The government will grant 1,500 yuan ($247) per gross ton for shipping companies to replace obsolete ships, according to a statement noted by Bloomberg on the transport ministry website. The award applies to vessels scrapped in the years 2013 through 2015.
China has issued further guidance to support and modernize its shipping industry, saying it would encourage mergers and private investment as well as develop its cruise industry. The world's biggest trading nation is focusing on the shipping industry as it grows more assertive over territorial
South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its worst-ever year as cost overruns mount up in new business lines it developed to counter a global glut of low-margin ship orders.
Rolls-Royce inform that Norwegian ship owner Simon Møkster Shipping has received its new offshore vessel, 'Stril Luna', from Gondan shipyard in Spain. 'Stril Luna' is the first vessel to enter operation with Rolls-Royce’s Unified Bridge and has now arrived in Norway to begin a long-
Oceanteam Shipping ASA releases its Q2 2014 financial report, with extracts as follows: The company says it saw, with its early focus on Mexico, a long term strategy confirmed: its newly founded DOT Shipping partnership with Grupo Diavaz and the subsequent approval of the Mexican Energy Reform
Doosan Engine has confirmed delivery of the world’s first dual-fuel, low-speed ME-GI engine to the American National Steel and Shipbuilding Company (NASSCO) shipyard in San Diego, USA. The new engine is capable of operation on LNG and/or bunker C oil and will power the first of two 3
The 3,100-teu container ship ordered by American marine transportation company TOTE, will be powered by an all-MAN package including main engine, auxiliary engines and turbochargers . The recent delivery of the world’s first dual-fuel
Doosan Engine delivers world’s first dual-fuel, low-speed ME-GI engine to NASSCO When TOTE announced plans to build the world’s largest LNG powered containerships, it stood to reason that along the way many milestones would fall
Today, Princess Cruises, a subsidiary of Carnival Corporation & plc, announced that it has reached an agreement with the Italian shipbuilder Fincantieri to build a new ship, which will enter service in 2017. The as-yet unnamed 143,000-ton vessel
Fincantieri says it has signed an agreement with Carnival Corp. to build the new cruise ship for its Princess Cruises brand at a cost of about 600 million euros. The 143,000-ton ship, which will enter service in 2017, will carry 3,560 passengers (lower berths)
Norwegian Cruise Line says it has reached an agreement with MEYER WERFT GmbH of Germany to build two new Breakaway-Plus class cruise ships for delivery in the second quarter 2018 and the fourth quarter 2019. Each ship will be 164,600 gross tons and include 4,200 passenger berths.
International maritime law partnership Holman Fenwick Willan (HFW) says it has advised Chinese Percept Limited, a wholly-owned subsidiary of Genting Hong Kong Limited (Genting), on the group's second newbuild mega-cruise ship order in 12 months
MAN Diesel & Turbo inform that licensee Doosan Engine has confirmed delivery of the world’s first dual-fuel, low-speed ME-GI engine to the American National Steel and Shipbuilding Company (NASSCO) shipyard in San Diego, USA
Since 1990, steel has been used in the construction of some of the world’s biggest thrill rides but in recent years it is the steel market itself that has seen all the dips and climbs of a high speed rollercoaster. As the global shipping industry went through a major build cycle
The Jones Act has been blamed for everything from higher prices of goods and oil to a shortage of rock salt supply in the Northeast during the past winter, but the 94-year-old U.S. federal statute governing the U.S. coastal shipping trades will not be going away anytime soon.
Private equity has pumped $32 bln into shipping in past 2 years. Ships totaling 299 mln dwt to enter global fleet from May. Some private equity-backed shipping IPOs have been put off on weak sentiment. The shipping industry faces a looming capacity glut as billions of dollars pumped into it by