The giant containerships ordered by Mediterranean Shipping Company (MSC) at Korean yards last year will feature 23,000 TEU, based on the details released by German engine builder MAN Diesel and Turbo.
Under the deal announced in September 2017, Samsung Heavy Industries (SHI) will construct six of the vessels while Daewoo Shipping Marine Engineering (DSME) will construct the remaining five.
The eleven mega-ships will be powered by G95ME-C9.5 main engines, MAN Diesel & Turbo said earlier today. The ‘G’ prefix stands for an ultra-long stroke engine design that reduces engine speed, enabling ships to achieve high-efficiency.
“G-type engines’ longer stroke results in a lower rpm for the engine driving the propeller. This lower optimum engine speed allows the use of a larger propeller and is, ultimately, significantly more efficient in terms of engine propulsion. Together with an optimized engine design, this means that the MSC newbuildings will enjoy a reduced fuel consumption and reduced CO2 emissions,” MAN explained.
As informed, Hyundai Heavy Industries (HHI-EMD) will construct the ME-C engines for SHI, while Doosan Engine will construct those for DSME.
MAN Diesel & Turbo has also won the order to supply the GenSets for each vessel in the form of 3 × MAN 9L32/40 + 2 × MAN 6L32/40 units, to be constructed by STX Engine in Korea.
Bjarne Foldager, Vice President of Sales & Promotion, Two-Stroke Business, at MAN Diesel & Turbo, said the order cements the company’s strong position within the large containership segment “where the G-type is the market’s preferred engine.”
Back in September, DSME said that the five ships were contracted for KRW 926.6 billion (USD 817 million), while SHI, announcing the contract for the sextet said the deal was worth KRW 1.118 trillion (USD 982.6 million). Hence, the total value of the 11 ships would be around USD 1.8 billion.
However, the duo noted that the final value of the orders would depend on the company’s propulsion choice for the newbuildings.
The handover of the boxships is expected to start in 2019 from SHI, with the final vessel from the series due for delivery by March 15, 2020 from DSME.
China LNG Shipping, a subsidiary of China Merchants Energy Shipping Co, is interested in adding ethane carriers to its gas carrying fleet.
Namely, the company has signed a Memorandum of Understanding (MoU) with compatriot Hudong-Zhonghua Shipbuilding for the construction of Very Large Ethane Carriers (VLEC), according to the data from Asiasis.
Details on the numbers of ships to be ordered and potential price have not been disclosed.
The company has five LNG carriers in its fleet.
Hudong-Zhonghua Shipbuilding has been active in developing very large ethane carrier designs amid an anticipated increase in demand for different types of liquefied gases.
In December 2017, the shipbuilder won Approval in Principle from the U.S. classification society ABS for a novel VLEC concept.
The VLEC is equipped with a specialized membrane cargo containment system suited to carry liquid gas cargoes such as ethane and propane. Designed with a minimum cargo temperature of -94℃, the concept supports a low cargo boil-off rate.
Distinct features of the design include multiple cargo re-liquefaction lines to liquefy vapor gas, a powerful cargo handling system that maintains a stable tank pressure and a Selective Catalytic Reduction (SCR) system that supports compliance with MARPOL Tier III and USCG requirements for non-US Flag vessels operating in the U.S.
Singapore-based Samudera Shipping Line is pushing forward with fleet renewal plans and disposal of Indonesia-flagged ships.
Namely, in its latest update, the company said that it has added three more ships to its sale list.
The ships in question are 1994-built Sinar Labuan of 3,519 dwt, 2006-built Sinar Agra of 11,244 dwt and 2006-built Sinar Busan of 10,600 dwt.
All three ships are Indonesia-flagged chemical tankers.
The trio joins two more ships earmarked for disposal in April 2017 as part of a batch of six vessels.
The remaining ships yet to be sold are 378 TEU containership Sinar Jepara and 287 TEU containership Sinar Ambon.
The disposal mandate approved by the shareholders last year needs to be renewed at this year’s extraordinary general meeting, at which the disposal of the three additional chemical tankers should be approved as well.
The meeting is scheduled to be held on April 25, 2018.
Samudera Shipping said the proceeds from the sale would be used for working capital and business expansion of the group.
Under the current Indonesian shipping law, the company is restricted from owning and registering new Indonesia-flagged vessels. Therefore, the company decided to gradually sell or scrap Indonesia-flagged vessel.
Once these vessels are disposed of, the group plans to stop providing shipping services for domestic route within Indonesia.
South Korean shipping company Hyundai Merchant Marine (HMM) has embarked on ordering mega containerships.
HMM plans to order a total of 20 mega-vessels, including twelve above 20,000 TEU and eight 14,000 TEU vessels which are considered to deploy in the Asia-North Europe and US East coast trades respectively.
The long-awaited order for the 22,000 TEU newbuildings first surfaced in December last year.
“Considering the factors including the recent increase in new shipbuilding price and dock availability, HMM will start a selection of shipyards by sending out its Request for Proposal (RFP) to shipbuilding companies on April 10,” the company said.
In order to make the ships compliant with the IMO’s Sulfur Cap, HMM said it would consider fitting the ships with scrubbers or LNG-fuelled engines. The decision would be made following discussions with shipbuilders in the race to build the ships.
“If the shipbuilding process proceeds smoothly followed by the selection of the shipbuilder, signing of a Letter of Intent (LOI) and finalizing its contract, all the new vessels will be sequentially delivered in the right time to prepare for the 2020 environmental regulations,” HMM added.
The fleet investment push is aimed at boosting the shipping line’s competitiveness and it is part of South Korean government’s 5 Year Plan for Rebuilding Korean Shipping.
The plan will see the construction of about 200 ships in the next three years, including up to 140 bulkers and 60 containerships.
One of the key features of the plan is to provide financing to shipping companies which had limited access to ship investment funds, under the umbrella of a maritime powerhouse to be launched in July, named the Korea Maritime Promotion Corporation.
Aside to fleet renewal, HMM intends to set a new mid-long term plan under which its organizational capability would be boosted. The company has also set sights on digitizing its business and expanding global networks.
Since its restructuring in 2013, HMM has focused on securing financial liquidity through KRW 4 billion restructuring plan including sales of controlling stake in affiliates and other property.
The South Korean shipping company aims to double its vessel capacity by 2022 as part of its long-term plan.
Norwegian shipowner Ocean Yield took delivery of a newly-built handysize dry bulk vessel, the Interlink Amenity, on April 9.
Following the delivery, the ship commenced a 10-year bareboat charter to a company owned and guaranteed by Interlink Maritime, an owner and provider of dry bulk vessels.
Featuring 38,500 dwt, the unit was constructed by China’s shipbuilder Huatai Heavy Industry.
The Marshall Islands-flagged ship has a length of 180 meters and a beam of 32 meters.
Interlink Maritime, which controls a fleet of 28 handysize vessels, including newbuildings, provides dry bulk vessels to agricultural and industrial commodities companies, shipping companies and other end-users.
Greece-based owner and operator GasLog Ltd has expanded its fleet with its latest newbuilding, the Gaslog Genoa.
The company took delivery of the new liquefied natural gas (LNG) carrier from South Korea’a shipbuilder Samsung Heavy Industries on March 29.
The Bermuda-flagged carrier with XDF propulsion was named at the shipyard a few days earlier, on March 27.
Featuring a length of 293 meters and a beam of 45.8 meters, Gaslog Genoa has a capacity of 174,000 cbm.
The unit is part of an order placed with the shipbuilder in May 2014. At the time, GasLog ordered two vessels, and secured two additional priced options from Samsung.
Earlier in March, GasLog expanded its orderbook with a new 180,000 cubic meter Flex Plus vessel with XDF propulsion from Samsung Heavy Industries.
The newbuild, Hull No. 2274, is scheduled to be handed over in the second quarter of 2020 and is currently unchartered. The deal also includes options for additional vessels.
Norwegian shipowner MPC Container Ships is continuing its fleet expansion with the purchase of one more secondhand boxship.
The company has inked an agreement to acquire SITC Makassar, a 2,496 TEU vessel built in Germany in 2006.
As informed, the ship will be acquired for USD 9.9 million, including initial working capital.
The vessel, to be named AS Patricia, will be taken over by MPC Container Ships’ 50/50 joint venture in the course of April 2018.
SITC Makassar is currently owned by China’s SITC which bought the Sub-Panamax containership from Germany’s Projex Schiff in 2017, VesselsValue’s data shows.
Höegh LNG Holdings today took delivery of Höegh Esperanza, its eighth floating storage and regasification unit (FSRU).
The 170 000 cbm FSRU has been constructed at Hyundai Heavy Industries (HHI) in South Korea and is designed for open, combined and closed loop regasification operation.
“Höegh LNG is currently in advanced negotiations for intermediate employment of Höegh Esperanza on a combined FSRU and LNGC contract with seasonal use in FSRU mode until the anticipated start date of its intended long-term FSRU contract in Chile,” the company said.
The FSRU has a maximum regasification throughput of 750 million standard cubic feet per day. It is equipped with a GTT Mark III membrane containment system and dual-fuel diesel-electric (DFDE) propulsion, the company said.
Höegh LNG has secured full financing for Höegh Esperanza, with the USD 200 million debt portion expandable to USD 230 million once long-term employment has been secured.
The company has two more FSRUs under construction at HHI and Samsung Heavy Industries.
Samudera Shipping Line has finalized the sale of its 18-year-old Indonesia-flagged oil tanker, the Sinar Emas.
Under an agreement with an undisclosed buyer, the unit was sold at a price of USD 6.9 million, as agreed on a willing buyer-willing seller basis.
Samudera Shipping informed that the proceeds from the transaction would be used for working capital and business expansion of the group.
Under the current Indonesian shipping law, the company is restricted from owning and registering new Indonesia-flagged vessels. Therefore, it will not be able to acquire new ships to rejuvenate the aging Indonesia-flagged fleet.
The company opted to sell the unit as part of its strategic approach of gradually selling or scrapping Indonesia-flagged vessel. Once these vessels are disposed of, the group will cease to provide shipping services for domestic route within Indonesia.
Daewoo Shipbuilding and Marine Engineering (DSME), one of the South Korean big three shipbuilders, has secured two more orders for very large crude carriers (VLCC).
Undisclosed American shipowner is said to be behind the contract, being signed in anticipation of oil exports growth in the U.S.
Under the terms of the deal, the duo, to be built at DSME’s Okpo shipyard in Geoje, is slated for delivery in the first quarter of 2020.
With the latest contract DSME has managed to collect 10 VLCC orders so far this year, the company said.
The Korean builder has been on a roll over the past few months, booking orders for high value-added vessels such as crude carriers, giant containerships and LNG carriers, which have driven the company’s financial recovery.
The latest contract comes in less than a week from Korea Line’s order for a VLCC pair at DSME, which also reported an additional VLCC order from an unidentified European shipowner last week.
The shipbuilder’s orderbook for this year stands at 19 ships, comprising eight LNG carriers, ten VLCC and one special-purpose vessel, totaling in USD 2.36 billion.