Ship Sales & Purchase
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2017-08-31 11:33:23

Croatian shipbuilder Uljanik has launched the world’s most powerful cutter dredger over the weekend at its shipyard in Pula.

Uljanik built the 151.3 m long vessel named Willem Van Rubroeck for Luxemburg-based Jan De Nul Group.

The self-propelled cutter suction dredger, named after the great Flemish missionary and naval explorers of Medieval times, is 36 metres wide and is able to dredge material up to 45 metres deep.

Willem Van Rubroeck is 10 metres high and can develop a speed of 12 knots. It has installed power of 40.975 kW, three dredging pumps with a total power of 25.500 kW, two of which located in the pump room and one in the cutter ladder, and 2 retractable thrusters with a total power of 6000 kW.

“This vessel, the world’s most powerful dredger, will have a cutter power of 8,500kW and it will be able to dredge compact sand, clay and rocks up to 45m deep, while the operation will be controlled from a central station and is almost completely automated. Also, it will be able to receive 67 crew members in a comfortable and high standard accommodation,” Uljanik said.

Uljanik said on Monday that they have also signed a deal with Norwegian company Nexans Subsea Operations to build a cable laying ship. That ship will be 149.9 metres long and 31 metres wide.

2017-08-30 10:37:40

Navig8 Chemical Tankers, a joint venture between the Navig8 Group and Oaktree Capital Management, has taken delivery of its second 25,000 dwt stainless steel chemical tanker.

The newbuilding, named Navig8 Sol, was constructed by Japanese builder Fukuoka Shipbuilding. It is the second of two vessels contracted at the shipyard to be delivered to the company.

Navig8 Sol is also the second and last vessel to be delivered under the sale and leaseback arrangements entered into
with subsidiaries of Japan-based SBI Holdings Inc (SBI) in May 2017.

Following delivery from Fukuoka, the Navig8 Sol was delivered to SBI under the terms of the sale MOA and then delivered back to the company under bareboat charter.

Navig8 Sol will be entered into and operated in Navig8 Group's Stainless8 commercial pool.

The first vessel from the batch, Navig8 Spica, was handed over to its owner in May 2017, under the same terms.

Navig8 Chemical Tankers secured ten-and-a-half-year bareboat charters for the stainless steel chemical duo commencing at the time of their deliveries.

The company has purchase options to re-acquire the vessels during the charter period, with the first such option exercisable on or around the fifth anniversary of each delivery.

2017-08-29 13:38:52

Swedish ferry company Stena Line has held a steel cutting ceremony for the first of four RoPax vessels ordered in China.

The steel cutting was held at the AVIC Weihai Shipyard on August 25, 2017.

The vessels have a planned delivery timetable during 2019 and 2020 with Stena having an option to order a further four vessels as part of the overall contract.

The ferries, which are expected to be 50% larger than today’s standard RoPax vessels, will be placed on the Irish Sea routes. They will feature a length of 214.5 meters and a width of 27.8 meters and will be able to reach a speed of 22 knots.

With a capacity of more than 3,000 lane meters and an accommodation for 1,000 passengers, the ships are being built in line with Stena Line’s key strategic focus on sustainability, according to the company.

“The new RoPax vessels will be among the most fuel efficient in the world with approximately 25% lower CO2 emissions per cargo unit than comparable RoPax tonnage… The vessels will run on traditional fuel, but are designed to the class notation “gas ready” and are also prepared for scrubbers as well as catalytic converters, giving us even greater flexibility for the future,”  Niclas Mårtensson, CEO of Stena Line, commented.

2017-08-29 13:08:10

Bahri Dry Bulk Company, a majority-owned subsidiary of the National Shipping Company of Saudi Arabia (Bahri), has inked contracts with South Korean shipbuilder Hyundai Heavy Industries (HHI) for the construction of four bulk carriers.

Bahri said that the total price tag for the four newbuildings is USD 120 million, i.e., USD 30 million per ship.

However, the shipping company did not announce how the contracts would be financed, adding that these details are expected to be revealed at a later time.

The bulkers are scheduled for delivery during the first half of 2020 from Hyundai Mipo Dockyard.

“The financial impact of these contracts will appear after the delivery of the vessels,” the company added.

As described by their owner, the ships are designed to the latest international technical specifications and are fitted with environmentally-friendly specifications and high efficiency in fuel consumption, with a capacity of 80,000 metric tons per carrier.

The order comes as Bahri embarks upon fleet expansion aimed at meeting the needs of the local and global markets.

On the other hand, for Hyundai, the contracts have been secured at a critical moment, as the shipbuilder is faced with the insufficient workload and is asking around 5,000 of its workers to take leave of absence.

As reported by World Maritime News, the company’s backlog stands at 85 ships, considerably lower when compared to last year’s 110 ships, with only ten vessels being constructed at the yard at the moment.

2017-08-29 13:07:04

Bahri Dry Bulk Company, a majority-owned subsidiary of the National Shipping Company of Saudi Arabia (Bahri), has inked contracts with South Korean shipbuilder Hyundai Heavy Industries (HHI) for the construction of four bulk carriers.

Bahri said that the total price tag for the four newbuildings is USD 120 million, i.e., USD 30 million per ship.

However, the shipping company did not announce how the contracts would be financed, adding that these details are expected to be revealed at a later time.

The bulkers are scheduled for delivery during the first half of 2020 from Hyundai Mipo Dockyard.

“The financial impact of these contracts will appear after the delivery of the vessels,” the company added.

As described by their owner, the ships are designed to the latest international technical specifications and are fitted with environmentally-friendly specifications and high efficiency in fuel consumption, with a capacity of 80,000 metric tons per carrier.

The order comes as Bahri embarks upon fleet expansion aimed at meeting the needs of the local and global markets.

On the other hand, for Hyundai, the contracts have been secured at a critical moment, as the shipbuilder is faced with the insufficient workload and is asking around 5,000 of its workers to take leave of absence.

As reported by World Maritime News, the company’s backlog stands at 85 ships, considerably lower when compared to last year’s 110 ships, with only ten vessels being constructed at the yard at the moment.

2017-08-28 11:20:11

South Korean shipbuilder Samsung Heavy Industries (SHI) has sealed the order for two Suezmax-size DP2 shuttle tankers with Teekay Offshore Partners (TOO).

The shipbuilder said today in an exchange filing that it has signed a sales and supply contract with Teekay for the tanker pair.

The contract, worth KRW 309.2 billion (USD 274 million), contains options for two additional vessels.

SHI’s current orderbook value stands at KRW 10.4 trillion.

The two ships are slated for delivery by January 2020.

Earlier this month, Teekay said that, upon delivery, the 154,000 dwt vessels will provide shuttle tanker services in the North Sea under Teekay Offshore’s existing master agreement with Statoil ASA (Statoil).

As informed, the new vessels will be constructed based on TOO’s new Shuttle Spirit design which incorporates technologies aimed at increasing fuel efficiency and reducing emissions, including LNG propulsion technology.

What is more, Teekay Offshore revealed plans to transfer its shuttle tanker business into a new subsidiary, Teekay Shuttle Tankers (ShuttleCo).

2017-08-28 11:18:21

Norway-based bulker owner Songa Bulk is continuing with ship acquisitions as it has entered into an agreement to buy another Kamsarmax.

The 81,918 dwt vessel was built at Tsuneishi shipyard in Japan in 2014.

As informed, the bulker will be delivered in September 2017.

The company intends to establish a wholly owned subsidiary to take delivery of the vessel.

The only vessel in Songa Bulk’s fleet that fits the description is the 2014-built Goddess Santosh Devi, according to data provided by VesselsValue. The purchase deal, worth USD 22.75 million, was inked with Japanese United Ocean Group.

Earlier this month, Songa Bulk completed a tap issue of USD 45 million in its Senior Secured Callable Bond Issue, the net proceeds of which have been earmarked for the financing of additional bulker acquisitions. The total nominal amount outstanding in the bond following the tap issue will be USD 120 million.

The newest purchase brings Songa Bulk’s total fleet to 14 vessels, with a total of USD 259.2 million invested so far. The vessels include two Capesizes, nine Kamsarmaxes, one Ultramax and two Supramaxes.

2017-08-25 11:31:23

Austal Philippines, part of Australian shipbuilding group Austal, has received the fifth high-speed commercial ferry order in just over twelve months.

Namely, VS Ferries Corporation of Samar in the Philippines has awarded an AUD 5.5 million (USD 4.3 million) contract to Austal for the construction of a 30-meter all-aluminium catamaran, designed by Incat Crowther.

“In just 5 years of operation, Austal Philippines has delivered 13 vessels and established a highly efficient workforce, utilising advanced, modular shipbuilding techniques developed right here in Australia,” David Singleton, Austal Chief Executive Officer, said.

Construction of the new ferry, with capacity to carry up to 300 passengers at speeds of up to 25 knots, will commence in September 2017, with delivery scheduled for August 2018, according to the shipbuilder.

Established in Balamban, Cebu in 2012, Austal Philippines specializes in commercial shipbuilding.

2017-08-25 11:28:28

Honolulu-based shipping company Pasha Hawaii has placed an order with Keppel AmFELS, a US-based subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), for the construction of two Liquefied Natural Gas (LNG) fueled containerships.

Under the terms of the contract worth over USD 400 million, the dual fuel LNG vessels will be built to Keppel’s proprietary design with the delivery of the first vessel expected in 1Q 2020, and the second vessel in 3Q 2020.

“We are pleased that Pasha has chosen us to build their first two LNG fueled containerships to our innovative design. Keppel O&M is at the forefront of designing vessels that run on LNG propulsion systems and has the experience in LNG vessel conversions as well as the expertise in newbuild specialised vessels. In addition, Keppel AmFELS is ideally located and well-equipped to build a wide variety of vessels for the Jones Act market,” Simon Lee, President of Keppel AmFELS said.

“This contract with Keppel allows Pasha Hawaii to continue to move forward in our commitment to providing the best resources possible for our customers and Hawaii’s shipping industry while minimising our environmental footprint,” said George Pasha, IV, President and CEO of The Pasha Group.

Customised to Pasha Hawaii’s requirements, the new, 774-foot Jones Act vessels will be able to carry 2,525 TEUs (twenty-foot equivalent units), including a fully laden capacity of 500 45-foot containers, 400 refrigerated containers, and 300 40-foot dry containers, with a sailing speed of 23 knots.

The ships’ hull has been fully optimised using computational fluid dynamics (CFD) and will be one of the most hydrodynamically efficient hulls in the world, as described by Keppel.

The containerships will be able to run completely on LNG fuel, cutting their environmental impact.

Pasha Hawaii, an independent operating subsidiary of The Pasha Group, owns a fleet of six fully Jones Act-qualified vessels.

2017-08-24 10:36:56

UK-based ferry company Red Funnel has placed an order with compatriot Wight Shipyard for another 41 meter high-speed catamaran.

The order for Red Jet 7 marks the first major investment in Red Funnel by the consortium of UK and Canadian pension funds which acquired the cross-Solent ferry operator in July 2017. As explained, the decision underpins the new owner’s commitment to Red Funnel’s Southampton-West Cowes route and to the future growth of the Island’s economy by injecting GBP 7 million (around USD 9 million).

Red Jet 7 will be a sister ship to Red Jet 6 which was built by Wight Shipyard on the Isle of Wight in 2016. That order from Red Funnel restarted the construction of fast-ferries in the UK and on the Isle of Wight after a gap of 16 years.

“Red Jet 7 will be virtually identical to Red Jet 6… Once Red Jet 7 joins the fleet next summer we will have 3 large modern Red Jets each capable of carrying 277 passengers in comfort in all weather conditions. The introduction of Red Jet 7 will represent a further 51% increase in capacity for the Red Jet service,” Kevin George, Red Funnel CEO, commented.

Red Jet 7 is expected to be one of the greenest ship in Red Funnel’s fleet with a host of design features to reduce fuel consumption and protect the environment, Wight Shipyard said.

According to Wight Shipyard, the use of waterjets rather than propellers will aid manoeuvrability and provide good stopping power whilst keeping wash to an absolute minimum. The ship will be fitted with four main diesel engines, each one connected to a waterjet unit. This configuration helps to reduce fuel consumption and provides high levels of in-service reliability.

Other technical innovations to reduce fuel consumption include the use of vinyl instead of paint for the superstructure to reduce weight and the application of the latest Teflon hull coatings to minimize drag through the water. The installation of a rescue boat on the stern will also enable the vessel to operate outside the confines of the Solent.

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