Category archives for: Headlines

Pan Ocean Up for Grabs

Pan Ocean Up for Grabs

South Korea-based bulk shipper Pan Ocean Co Ltd, formerly STX Pan Ocean, has been put up for auction, Reuters reports citing a sales notice from October 1st. According to the sales notice, potential bidders will conduct due diligence during Nov 10-28, with binding bids due on Dec 11. It is expected for the bid to range […]

Five VLCCs for CMES

Five VLCCs for CMES

China Merchants Energy Shipping (CMES) has placed orders for construction of four Very Large Crude Carriers (VLCCs) with two Chinese shipbuilders worth a total of USD 390 million. Dalian Shipbuilding Industry Co (DSIC) will construct two 319,000 dwt VLCCs whereas Shanghai Waigaoqiao Shipbuilding will build the other two 318,000 dwt VLCCs. All four eco-friendly ships are expected […]

China Awards Subsidies for Scrapping Old Ships

China Awards Subsidies for Scrapping Old Ships

Four Chinese shipping companies have received subsidies from the Chinese government worth a total of USD 293.3 million for retiring old ships and upgrading their fleets, writes Reuters. China Shipping Development Co (CSDC) and China Shipping Container Lines (CSCL) announced in separate stock exchange filings that they received a combined USD 41.5 million. CSDC has […]

Samsung Heavy Venturing Overseas

Samsung Heavy Venturing Overseas

South Korea’s Samsung Heavy Industries Co. (SHI) has revealed plans to spread overseas by establishing the first facility abroad in an effort to revive production following the merger of Samsung’s shipbuilding and engineering units.  Bloomberg reports that SHI is ready to invest around USD 950 million in the overseas shipbuilding facility by 2017, according to SHI’s […]

VIDEO: Clash of the Giants

VIDEO: Clash of the Giants

Hapag-Lloyd’s vessel Colombo Express collided on Monday morning, September 29th with containership Maersk Tanjong while entering the Suez Canal at Port Said. “According to preliminary findings, there are no injuries and no damage has been done to the environment. Both vessels were able to continue on. The exact course of events is currently being investigated,” Hapag-Lloyd said in […]

Mitsui Hires Five Ships for Exporting Cameron LNG

Mitsui Hires Five Ships for Exporting Cameron LNG

Japanese-based trading house Mitsui & Co. said it was pushing forward with the procurement of eight LNG ships to be used for the delivery of LNG mainly to its customers in Japan from the Cameron LNG Export Project in the U.S. On September 26, 2014, Mitsui signed time charter parties for five of the above […]

Readers’ Picks of the Week (Sep 22-28, 2014)

Readers’ Picks of the Week (Sep 22-28, 2014)

Radioactive SUV Found Aboard Carrier in Vladivostok Customs officials at the Russian port of Vladivostok held up the Malacca Highway, a Panama-flagged Ro-Ro car carrier on September 11, 2014, upon discovering one of the vehicles aboard emitted radiation.…Read more Maersk Line to Spend USD 3 Bn a Year on Newbuildings Maersk Line plans to set […]

Update: Vale, Cosco Ink Iron Ore Shipping Deal

Update: Vale, Cosco Ink Iron Ore Shipping Deal

Vale S.A. (Vale) and China Merchants Group signed in Beijing on September 26 a contract by which Vale will lease  ten very large ore carriers to be built by China Merchants for a period of 25 years. The VLOCs will be used to transport Vale’s iron ore from Brazil to China.​ This contract can be viewed […]

CHEC to Build Ashdod Port

CHEC to Build Ashdod Port

China Harbour Engineering Company (CHEC) has been chosen to build a new port in Ashdod, The Times of Israel reports. Israeli Prime Minister Benjamin Netanyahu said during the signing ceremony that the new facility will serve as an important link in a new east-west trade route. Construction works on a 1,000m pier and 2.8m of […]

Scorpio Tankers Forges Ahead with Fleet Expansion

Scorpio Tankers Forges Ahead with Fleet Expansion

Monaco-based tanker owner Scorpio Tankers Inc has taken delivery of four newbuilding vessels and agreed to time charter-in an LR2 product tanker that is currently under construction in South Korea, the company said. The following vessels have joined Scorpio’s tanker fleet: STI Orchard, an LR2 product tanker, was delivered from Daewoo Shipbuilding and Marine Engineering […]

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