Motorship News – Page 779
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News
Debt crisis looming for CMA CGM
CMA CGM may soon need to pay a heavy price for the aggressive expansion program it has undertaken as it seeks to reduce its estimated $5.6Bn debt burden. The French company announced last week that it has been forced to establish a committee comprising its main lending banks that will ...
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Germany guarantees Hapag-Lloyd loan
THE German government has approved, in principle, the loan guarantees of ?1.2Bn for Hapag Lloyd last week, a move that is required to ensure the continued viability of the German carrier. The loan guarantee will be used to cover 90% of the credit risk of the bank loans to be ...
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China inks Ethiopian MPP orders
Ethiopian Shipping Lines (ESL) is placing a newbuilding order at China's Taizhou Kouan Shipbuilding. Sources say the national shipping company has inked a letter of intent for a series of multipurpose (MPP) vessels at the shipyard.According to local reports, ESL is still waiting for state approval to go ahead with ...
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SeaMetric cancels heavy lift vessels
Norway's SeaMetric has cancelled the orders for two heavy transport vessels in China because construction of the vessels has suffered significant delays.SeaMetric has been building the two vessels at the China Petroleum Liaohe Equipment Company (CPLEC) shipyard since September 2007. The shipyard's ultimate owner is the state-owned China National Petroleum ...
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STX wins Belgian dredger orders
The South Korean shipbuilder has won an order for two 11,800 DWT trailing suction hopper dredger and one 6,500 DWT stone dumping vessel from two affiliates of Jan De Nul Group (JDN Group). JDN Group, headquartered in Belgium and Luxemburg, is an international dredging and maritime engineering corporation. The three ...
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Singapore backs fuel-efficient technology
Ow Chio Kiat, executive chairman of the Singapore Shipping Corporation (SSC), has signed an agreement to market a new fuel-efficient technology to 10 shipping lines for the Singapore-based Neftech.Up to 1,200 ships could eventually use this new fuel system and achieve up to $600 million a year in fuel savings ...
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Namura delivers its first VLCC
Japan's Namura Shipbuilding has completed its first VLCC, the 'Atlantic Pioneer', and delivered it to Mitsui OSK Lines (MOL). With this delivery, Namura has achieved its long-cherished ambition to enter the VLCC market since it established its Imari Works 35 years ago.Though the 'Atlantic Pioneer' was Namura's first VLCC, the ...
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Hyundai Mipo resumes order intake
Hyundai Mipo Dockyard is said to have received an order for the construction of two 1,000-teu containerships from a Greek shipowner. No price or delivery dates have been announced. The South Korean shipbuilder secured its last new order in September 2008 when it won four 37,000-dwt bulkers from Greece's Cosmo. ...
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Navibulgar cancels handysize
Bulgarian owner Navibulgar has cancelled a contract for a handysize bulker at the domestic Varna shipyard. Industrial Holding Bulgaria (IHB), which controls Varna through its Bulyard subsidiary, said the deal for hull 459 was scrapped by Navibulgar's Osogovo Maritime subsidiary.The 21,211-dwt vessel remains under the ownership of Bulyard Shipbuilding and ...
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Oceania option doubtful
Italian state-owned shipbuilder Fincantieri, which is already struggling with declining workloads, faces another setback with industry sources suggesting Oceania will not exercise an option for a third cruiseship. Two years ago, Oceania placed a $1bn order with Fincantieri for two luxury cruiseships with an option for a third. The 65,000 ...
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Delay problems with Zim boxships
Industry sources claim that South Korean top shipbuilders have not given the Israeli shipping company Zim approval to delay boxship deliveries by two to five years.They say both Hyundai Heavy Industries and Samsung Heavy Industries have not accepted Zim's proposal to postpone delivery as the delay will lead to multimillion-dollar ...
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Oversupply of Suezmaxes expected
Tanker market is expected to see further oversupply of Suezmaxes in the years ahead according to a report from Frankfurt-based DVB banking group.The surplus of Suezmaxes is reportedly projected to exceed 100 units in 2012. The number of Suezmaxes currently in operation worldwide is estimated at 375 units, and is ...
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Jurong delivers 2nd semi-submersible rig to Diamond Offshore
Sembcorp Marine's subsidiary Jurong Shipyard has delivered a second ultra-deepwater semi-submersible rig, the Ocean Valor (previously PetroRig II), on schedule to Diamond Offshore Drilling Limited. Diamond Offshore Drilling Limited acquired from PetroRig II Pte Ltd the construction contract to purchase the newbuild, 7,500-foot, dynamically positioned semi-submersible offshore drilling unit PetroRig ...
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COSCO cancels PCTCs
COSCO International Ship Trading Co., Ltd. has agreed with COSCO (Zhoushan) Shipyard on the cancellation of their contracts for two 5,000-unit pure car and truck carriers (PCTCs).The PCTCs are the third and fourth of the four newbuildings the Chinese shipowner ordered from COSCO (Zhoushan) in 2007 for delivery between 2009 ...
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ICS maintains push for emissions consensus
The International Chamber of Shipping (ICS), based in London, has reaffirmed its commitment to developing a consensus among shipowner organisations over emissions reduction schemes, despite growing criticism. In a recent press release, the ICS has outlined its position on using Market Based Instruments (MBI) to form a major part of ...
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Conference on Ship Efficiency questioned EEDI
The 2nd German Society for Maritime Technology (STG) International Conference on "Ship Efficiency" in Hamburg left more than 200 participants wondering whether the current proposal to implement an Energy Efficiency Design Index (EEDI) is an appropriate tool to cut ship emissions. Professor Stefan Krueger of TU Hamburg Harburg, Institute of ...
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Slump in offshore industry to continue into 2010
Operators of offshore support vessels are facing another difficult year in 2010, although there should be some recovery over this year's market. This claim was made by Christian Loken, senior vice-president of the Norwegian-based Pareto, a leading provider of offshore rig brokering.He said that an OSV newbuilding orderbook of around ...
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Kockums building high-tech wind farm vessels
The Swiss naval architect firm of Fintry Marine Design has placed its first order for a CarboCAT MPV23, an offshore wind farm service catamaran, with Kockums? Karlskrona Yard in Sweden. The Fintry designed catamaran will be the first new construction unit in a series of ten of latest generation MPVs ...
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BIMCO launches AVRA
An Automated Voyage Risk Assessment tool (AVRA), which provides users with a ship and voyage specific preview of security threats that may be encountered throughout a proposed voyage has been made available by the maritime organisation BIMCO. This unique, web-enabled and fully automated system has been developed in conjunction with ...
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ABS and LR offer common software for CSR
ABS and Lloyd?s Register have agreed to use common software for the assessment of scantlings of bulk carriers and oil tankers designed to comply with the new IACS Common Structural Rules (CSR). The new common software draws on the existing applications of both societies with the Lloyd?s Register approach being ...
