Category archives for: Headlines

Hyundai Mipo Scores Carrier Trio

Hyundai Mipo Scores Carrier Trio

 Hyundai Mipo Dockyard Co, a subsidiary of South Korean shipbuilding giant Hyundai Heavy Industries, has secured orders for three vessels, two liquefied petroleum gas (LPG) carriers and one asphalt carrier. The LPG order, worth USD 104.7 million, comes from the Marshall Islands-based operator StealthGas. The carriers are slated for delivery by the end of 2017. These vessels will measure […]

Another Lawsuit Fuels Qingdao Port Scandal

Another Lawsuit Fuels Qingdao Port Scandal

China’s Qingdao port is sinking further under a pile of lawsuit cases over an ongoing metals financing fraud that has resulted in over USD 1 billion of claims. The latest developments have seen Shanxi Coal International file a lawsuit against the Australian trading arm of China’s Citic Resources Holding Ltd for $89.8m plus interest and costs for […]

KKR, Borealis Hustle Nine Container Ships

KKR, Borealis Hustle Nine Container Ships

The joint venture between KKR Special Situations Group of Kohlberg Kravis Roberts & Co. L.P. (USA) and Borealis Maritime Ltd. (UK) has signed an agreement with Frankfurt-based Commerzbank to buy nine container vessels financed by the bank. USD 216 million proceeds will be used  for the redemption of loans. “This transaction is the second successful capital markets […]

Interview: Switch to Gas Needs Speeding Up

Interview: Switch to Gas Needs Speeding Up

Maritime transport is moving towards the use of gas as a prime source of energy for propulsion and power generation on board ships. As the ‘dash for gas’ takes hold worldwide, the maritime industry has a golden opportunity to leapfrog the increasingly strict regime governing emissions of harmful atmospheric pollutants, reduce the carbon footprint of […]

Scorpio Bulkers in Sextet Deal

Scorpio Bulkers in Sextet Deal

Monaco-based bulk shipper Scorpio Bulkers has ordered six 82,000dwt Kamsarmaxes from Chinese shipbuilder Shanghai Shipyard, the Chinese media report. Under the deal, the vessels will start delivery from the second quarter of 2015. The value of the order has not yet been revealed. Scorpio was unavailable for comment when asked by World Maritime News for […]

KPC to Double Crude Export to China

KPC to Double Crude Export to China

Kuwait Petroleum Corporation (KPC) has signed a historic deal with China’s Unipec which will see almost doubling of KPC’s shipments of crude to China. This is a milestone deal for KPC, under which, as of 2014 KPC will provide Unipec crude oil with the volume expected to reach 300,000 barrels per day (bpd). The amount […]

Readers’ Picks of the Week (Aug 18 – 24, 2014)

Readers’ Picks of the Week (Aug 18 – 24, 2014)

Strike at Ningbo Port Turns Violent A massive strike by as many as 10,000 truck drivers at Ningbo’s Beilun Container Port erupted into violence on August 20, as protestors clashed with riot police and smashed the windshields…Read more Engine-Room Fire Disables Tanker, Kills One Crewman U.S. Coast Guard air and cutter forces continue to assist […]

Zengzhou Shipbuilding Bags Five

Zengzhou Shipbuilding Bags Five

U.S.-based Marine Capital has placed an order for five 33,200dwt handysize bulkers with the Chinese shipbuilder Zhejiang Zengzhou Shipbuilding. The value of the contract has not been revealed, but the bulkers are expected to start delivery in October 2015 concluding in July 2016. Once delivered, the newbuilt bulkers will be operated by Bermuda owner Interlink. […]

Navibulgar Goes Green

Navibulgar Goes Green

Bulgarian shipowner Navibulgar is going to rejuvenate its fleet with four eco-friendly size bulk carriers built to the Bluetech 42 design developed by Foreship BlueTech Ltd. The newbuilds have been ordered from Chinese shipbuilder Jiangsu Hongqiang Marine Heavy Industry. The contract includes options for two additional ships. The design is claimed to offer 15% bigger […]

Interview: Liverpool2 Going Full Steam Ahead

Interview: Liverpool2 Going Full Steam Ahead

The United Kingdom-based Peel Group launched an unprecedented Ocean Gateway Project in 2008, announcing more than 50 projects over 50 years with £50 billion worth of investments. The project aims to modernize and further expand the strategic corridor connecting Manchester, Liverpool and surrounding areas within Cheshire and Warrington, focussing on regeneration of land and assets fronting […]

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