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Nordic American Tankers Expands Fleet to 33 Vessels
Armed with $120m from the placement, Nordic American Tankers (NAT) has contracted to increase its fleet from 30 to 33 vessels, enhancing its potential for both higher earnings and dividends.
World’s Largest Ethane Carrier Delivered
The world's first very large ethane carrier (VLEC), Ethane Crystal, has been delivered to India’s Reliance Industries Ltd. by South Korean shipbuilder Samsung Heavy Industries (SHI), representing a significant milestone for the gas shipping industry. The vessel is now the planet’s largest, purpose-built ethane carrier – comparable in size to today’s very large gas carriers (VLGC) – and with its 87…
Nakilat Transitions LNG Mekaines to In-house Management
Nakilat has assumed full ship management and operations of Q-Max LNG carrier Mekaines from STASCo (Shell Trading and Shipping Company Ltd.) with effect from November 7, 2016, as part of the planned and phased transition announced on October 19, 2016. With a cargo carrying capacity of 266,476 cubic meters, Mekaines is wholly-owned by Nakilat and chartered by Qatargas. The vessel built in South Korea by Samsung Heavy Industries was delivered in March 2009 and has been in service ever since.
NAT Orders Three Suezmax Tankers
Nordic American Tankers Limited (NAT) said it has entered into agreements with Korean shipyard Samsung Heavy Industries Co., Ltd. for the construction of three Suezmax tankers of about 157…
Reliance Inaugurates New Ethane Carriers
In a ceremony held in Geoje (South Korea), Indian's largest private sector company Reliance Industries Limited (Reliance) inaugurated its very first two VLEC (Very Large Ethane Carrier)…
GasLog Orders New LNG Carrier from SHI
GasLog Ltd. today announces that it has signed a time charter party with Centrica plc. ("Centrica") to charter a vessel for a period of seven years. The vessel, a 180…
Korea's Top 3 Shipbuilders' Shaky Performance
The value of contracts signed by Korea's big-three shipbuilders— Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering, and Samsung Heavy Industries…
DSME Denounces McKinsey Report
The report by Global consulting company McKinsey & Company that Daewoo Shipbuilding & Marine Engineering (DSME) is least likely to survive among the big three shipbuilding…
South Korean Yards Eyed for $3.8 Bln LNG Shipbuilding Deal
A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion…
Trelleborg Bears Weight of Largest Ever Offshore Facility
Trelleborg’s engineered products operation has supplied a selection of bearing solutions for the world's first floating liquefied natural gas (FLNG) project – Shell’s Prelude FLNG. Trelleborg has manufactured and delivered 52 vertical elastomeric bearings and 156 horizontal bearings for use on the 13 modules onboard the facility, as well as 40 turret bogey bearings to enable natural movements of the turret.
Japanese Shipbuilding Alliance Threatens Korea
According to the Nikkei, Mitsubishi Heavy Industries Ltd. (MHI) has entered negotiations with Imabari Shipbuilding Co., Ltd., Oshima Shipbuilding Co., Ltd. and Namura Shipbuilding Co.…
Wärtsilä BWMS for Three Maersk Tankers
Maersk Tankers A/S of Denmark has selected Wärtsilä's Electro Chlorination (EC) Ballast Water Management System (BWMS) for three new 50,000 DWT medium range (MR)…
SK Shipping Selects 5X72DF for LNG Carriers
Securing the position of its low-speed low-pressure X‑DF engines as market leaders, Winterthur Gas & Diesel (WinGD) has been selected to supply two 5-cylinder X72DF…
Pakistan Mulls Second LNG Import Terminal
BW Group (BW) has signed a 15-year agreement with Pakistan GasPort Limited (PGPL) to provide LNG regasification services utilizing a new-build Floating Storage and…
KOGAS to Support Korean Shipyards
In a bid to help South Korean local shipyard weather their worst-ever slump, the State-run Korea Gas Corp. (KOGAS), the world's largest LNG importer, will soon place…
Samsung Shipyard Mulls Outsourcing
Samsung Heavy Industries (SHI) CEO Park Dae-young proposed the outsourcing of shipbuilding to China and Indonesia in an effort to overcome a liquidity crisis, according to Yonhap.
5K Workers Lose Jobs in Korean Shipyards
According to a report by Korea Economic Daily the number of workers who left Korea's top-three shipbuilding companies - Hyundai Heavy Industries, Samsung Heavy Industries…
Samsung Heavy Industries to Raise $985 mln via Rights Issue
South Korean shipbuilder Samsung Heavy Industries Co Ltd said on Friday its board of directors have approved a plan to raise about 1.1 trillion won ($985.22 million) via a rights issue.
Ocean Rig UDW Beats on Revenue
Ocean Rig UDW Inc, the offshore drilling contractor, posted revenue of $452.6 million in the second-quarter, beating Wall Street forecasts. Three analysts surveyed by Zacks expected $385.7 million.
South Korea Mulls LNG Bunkering Hub
A group of South Korean companies including shipbuilders have come together to establish an association dedicated to developing liquefied natural gas (LNG) bunkering…
