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2013-10-25 10:02:25

New order intake of shipbuilding industries in Jiangsu, China in the first nine months of this year turned out to have massively increased.
According to statistical data from Jiangsu Economic and Information Technology Commission of China, during January-September period, Jiangsu-based shipbuilders contracted a total of 267 newbuildings of 11.3m dwt, up by 223% in terms of dwt. Of total newbuildings, vessels for export took 95%. Also, overall newbuildings contracted in Jiangsu accounted for 13.5% and 29.7% of global market and Chinese market, respectively.

Major 13 shipyards in Jiangsu inked overall 158 vessels of 10.16m dwt, accounting for 90% of total.

Taizhou Jiangsu based yards penned 65 vessels of 3.92m dwt, taking 34.7% of newbuildings contracted in Jiangsu in dwt terms, while Nanjing booked 32 newbuildings of 2.21m dwt, accounting for 19.6%. Yangzhou and Nantong contracted 45 vesesls of 2.01m dwt and 64 vessels of 1.33m dwt each, taking 17.8% and 11.7% respectively.

During the same period, delivery of Jiangsu-based shipyards declined by 35.8% year-on-year in dwt terms with 261 ships of 9.31m dwt, accounting for 11.1% and 30.4% of global market and Chinese market each. Of them export ships took 90.4%.

As of the end of September, Jiangsu shipyards are standing on the 861 vessels of 42.34m dwt of orderbook, seeing decrease of 7.6% y-o-y in terms of dwt, which taking 16.5% of world market and 37.2% of Chinese market. Ships for export accounted for 88% of total orderbook from Jiangsu shipbuilding industry.

2013-10-24 10:28:55

Oct. 22, 2013 - Eletson Holdings Inc. (“Eletson”) announced the formation of a joint venture with funds managed by Blackstone Tactical Opportunities (“Blackstone”) to create Eletson Gas, a $700 million liquefied petroleum gas (“LPG”) shipping company.

As part of the agreement, Eletson will contribute its existing fleet of five medium-size gas carriers, and Blackstone will provide equity capital to finance the growth of the company through the construction of new-build vessels as well as through the acquisition of existing vessels.

Operating and technical management of the Eletson Gas fleet will be provided by Eletson.

Eletson Gas also announced the signing of newbuilding contracts for eight vessels – five 12,000 cbm ethylene-capable semi refrigerated (“semi ref”) vessels with Korea’s Hyundai Mipo Dockyard and three 22,000 cbm ethylene-capable semi ref vessels with China’s Sinopacific Offshore & Engineering as well as the acquisition of a 22,000 cbm second hand semi ref vessel.

Additionally, Eletson Gas holds options for two additional 22,000 cbm vessels at Sinopacific. All eight new-build vessels are scheduled for delivery in 2015 and early 2016.

Lascarina J. Karastamati, President of Eletson Holdings, said, “We are delighted to partner with Blackstone as we look to expand Eletson’s existing LPG platform. Our partner’s expertise and global reach, including its exposure to the U.S. energy sector, will help to grow the business successfully into new and existing markets.”

“Through this partnership, we are committed to building a best-in-class, global owner and operator of LPG vessels that is a leader in its market segment,” said Jasvinder Khaira of Blackstone’s Tactical Opportunities Fund. “We are thrilled to join Eletson and its strong management team in this new venture.”

DNB Markets, Inc. and Brock Capital acted as financial advisors to Eletson. Holland & Knight and Akin Gump acted as legal counsel for Eletson and Blackstone respectively.

2013-10-23 09:43:40

Luxembourg – October 21, 2013 - Subsea 7 S.A. (Oslo Børs: SUBC) announced the award of two contracts with a combined value (at the time of contract signature) in excess of US$600 million from Petrobras.

The contracts are for operation of the Pipelay Support Vessels (PLSVs) Seven Mar and Seven Condor on a day rate basis for approximately three years, with operations starting toward the end of 2013 for Seven Mar and in the third quarter of 2014 for Seven Condor.

Both vessels have operated for Petrobras for several years and are currently under contract with Petrobras. The work scope of the contract is similar to that of other PLSVs which Subsea 7 currently operates offshore Brazil, comprising project management, engineering and installation of flowlines, umbilicals and equipment supplied by Petrobras.
Victor Bomfim, Senior Vice President for Brazil, said: “Following on from the renewal of contracts for the K3000, Seven Phoenix and Normand Seven, the renewal of contracts for Seven Mar and Seven Condor further strengthens our presence in the day-rate PLSV business segment in Brazil, and we look forward to supporting Petrobras in future developments.”

2013-10-23 09:34:16

18/10/13 - Croatia's Brodosplit and the domestic shipping company Brodosplit-Navigation Ltd., have signed a contract for the construction of a two Multipurpose Container vessels.

The special feature of these vessels is that it will use the LNG fuel (liqufied natural gas), which is the cleanest and environmentally friendly fossil fuel.

This is so important because the container vessels with LNG fuel will be more attractive in the global shipping market due to new national and international regulations that will prescribe the permitted quantities emissions (NOx, SO2 and CO2), which is gradually introduced into a new seas (first U.S. and Baltic).

Brodosplit container vessel will have a low speed 2 stroke "dual fuel" (LNG/HFO) engines that have higher efficiency (lower energy) and work at lower rpm (low speed engines), resulting in lower maintenance costs and longer life span . Now, in the world is made only one container vessel with a 2 stroke "dual fuel" engine.

Also can use diesel fuel, and in emergency situations has the ability to drive with the cooking oil from food sectors, as well as all other oils or fuels. According to that, coantainer vessels from Brodospolit shipyard will have four to five times lower cost per mile than the other ships of this class, and 30-50 times less will pollute environment.

Thanks to more efficient consumption and superb efficiency, investments in the 2 stroke "dual fuel" engines will be paid out after two to three years of exploitation. Extremely important in this project is that the engines will be made by the Brodosplit diesel engine factory, under the license of the MAN, as well as the special tanks for LNG fuel will also produce in Brodosplit shipyard.

2013-10-23 09:27:47

China's Guangxi Xijiang Heavy Industry turned out to have put pens on a newbuilding contract with compatriot Guigangshi Julong Wuliu for three 5,000 dwt and two 1,600 dwt units of multiple purpose vessel equipping hybrid engine.  

The five newbuildings will be the first hybrid engine-propelled vessels among in-land vessels in Guangxi region, running on both LNG and diesel. This latest contract is considered to be a landmark deal for ship restructuring as well as a project of "transition of oil to natural gas" and standardization of ship for inland operation.

The five vessels are known as applied with advanced technologies, boasting excellent performance in environment protection, energy saving and etc. In addition, compared to other vessels, under same conditions, it is able to save energy by around 20% per ton with contributing to cost reduction for shipowners as well as promoting vessel quality.

2013-10-18 10:13:45

On 11th October, The China Navigation Company (“CNCo”) confirmed an order for four additional 39,000dwt B.Delta37 handysize bulk carriers to be built at Zhejiang Ouhua Shipbuilding Co., Ltd. (Ouhua), Zhoushan, China.

This latest order brings the total number of Deltamarin designed vessels ordered by CNCo to twenty including sixteen orders already placed at Chengxi Shipyard.

This order represents the continuation of the successful collaboration between CNCo and Ouhua on several newbuilding projects including 8 x 31,000dwt “S Class” multipurpose vessels (delivery 2013/2014) and 4 x 22,000dwt “Chief Class” multipurpose vessels (delivery 2015).

Ouhua has already successfully delivered 4 of the “S Class” multipurpose vessels to Swire Shipping, CNCo’s liner shipping division. The vessels in service are proving to be of high quality, demonstrating the shipbuilding capabilities of Ouhua. Tim Blackburn, China Navigation’s Managing Director commented “CNCo is very pleased to be strengthening our partnership with Ouhua and we look forward to collaborating again on the B.Delta37 project.”

This order follows the successful completion of the seatrials for MV Wuchang on 29th September which was the first seatrial for Deltamarin’s innovative B.Delta37 eco handysize design. All 20 vessels will be deployed in CNCo’s drybulk division, Swire Bulk, and will operate on a worldwide basis.

2013-07-31 11:27:19

As newbuilding orders for bulker have expanded greatly this year after a slowdown last year, fears are growing over a splurge on new orders.
Freight rates for bulker are showing a recovery movement after having hit its historic low in 14 years at the end of March and global shipowners are aggressively pushing ahead with placing new orders for bulker with high-efficiency design to take advantage of low newbuilding prices. They are securing considerable amounts of newbuildings through private equity fund.
Over this trend, Chairman Henning Oldendorff of Germany’s leading bulker operator Oldendorff Carriers said, “The ordering wave is indeed worrying,” and added, “"If it coincides with a China slowdown and possible recession in the global steel industry, then freight rates could potentially stay low for many years to come," reported by Reuters.
According to the statements of Henning Oldendorff, around 35m dwt of bulker newbuildings were placed around the world solely in the first half of 2013, which greatly exceeds the annual new order records seen from last year, or 22m dwt.
Arjun Batra, managing director at Drewry Maritime Services said for the dry bulk sector, "The risks outweigh the upside potential", and added that a flood of new orders and a slowdown in demand of dry bulk shipping will delay recovery of bulker freight rate market for years to come.

2013-07-30 14:13:31

Total value of new orders contracted in a global shipbuilding industry during the first half of this year are estimated to be $36.9bn in total, which is similar to $37.2bn recorded a year ago.
According to Clarkson’s data, new order values by vessel type were tallied as $7bn in bulker segment, $5.8bn in containership and $4.9bn in tanker during the period from January to June, all showing an increasing trend against $9.5bn, $4bn and $7.5bn recorded last year, respectively. However, total new contract values contracted for offshore sector during the same period were only $13.4bn, greatly declined from the annual record of the previous year, or $45.6bn.
Major countries which placed newbuildings in the first half were from Europe, Asia and the North America. For instance, European owners placed new orders worth $18bn in total, which includes $4.3bn from France, $4.2bn from Norway, $3.4bn from Greece, $1.6bn from Germany and $1.4bn from Monaco. Owners from Asia placed orders worth $10.4bn in total; China placed $3.6bn new orders while Korea booked $2.1bn overall and so on. As for the North America, the US and Canada placed newbuildings worth $4bn and $1.2bn, respectively.
Particularly, such countries as France, Germany, China, Korea and etc., saw greatly expanded newbuilding orders against a year ago.

2013-07-12 15:29:10

According to shipbrokers statistics, new orders have summed up to 401 vessels by the end of this June, increasing by 18% against the same period of last year.

In April, the new orders increased greatly from 90 vessels to 149 vessels. However, in June the ordering activities cooled downed mildly, declining from 120 vessels from 140 in last June. In the first quarter, global shipowners totally ordered 366 vessels, 37% up compared with the same period in 2012.

Chinese shipbuilders won new orders worth $110.5bn while S.Korean yards secured $18.5bn. In tonnage, Chinese shipyards won 21.2m DWT while S.Korea gaining 16.6m DWT.

2013-07-09 16:07:39

A surge in orders for large containership is said to be driven by such factors as low newbuilding prices, advanced vessel design of high efficiency and etc. than the traditional main factor, fleet supply and demand in the market.
The orders for large boxship greatly increased from last year despite serious imbalance of supply and demand, which was affected by global oversupply of containership. According to Drewry Maritime Research, this recent order spree of large boxship suggests that it is no longer market fundamentals to drive new vessel orders.
It pointed to the falling newbuilding prices as a factor of order spree and middle standing operators are pushing themselves to place newbuilding orders to gain a competitive advantage over large operators.
Drewry Maritime took an example of five 18,000 teu ultra-large containerships placed by CSCL when saying that the newbuilding price was around $136.6m apiece, which represents the each vessel is priced 26% less than the same vessel type Maersk had ordered. It added, however, the direct comparison between two series is not proper since both vessels’ design classification is different.  
Moreover, the Middle East shipowner UASC is also currently in newbuilding negotiations for five 18,000 teu containerships with an Asian yard. The owner mentioned that the 18,000 teu has nearly 35% less fuel consumption than 13,000 teu per unit.

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