Kawasaki Heavy Industries will transfer more shipbuilding business to China, while Japanese shipyards will focus more on new business directions. The company is preparing to transfer most of its LPG carrier construction business to a joint

On the afternoon of July 6, New Times Shipbuilding held a ship signing and delivery ceremony. The 36#156,500DWT oil tanker named CRUDE ZEPHYRUS was officially delivered to the owner. This is the second ship delivered this month. The 36# 156

Malaysias LNG giant Petronas has signed a ten-year agreement to supply LNG to a subsidiary of China National Offshore Oil Corporation (CNOOC). The agreement is for 2.2 million tonnes per annum (mpta) for a ten-year period. It is valued at a

Kongsberg Maritime has won another important customer for its industry-leading Wind Turbine Installation Vessel (WTIV) technology, following the signing of contracts totalling EUR 49m with the Chinese shipbuilder COSCO Shipping (Qidong) Off

Samuel W. Croll, CEO of CR Ocean Engineering LLC (CROE), has announced two changes to his senior management team effective July 1, 2021. Dominique Philibert has become President and COO, and Nick Confuorto, CROEs former President and COO, h

The International Chamber of Shipping (ICS) has welcomed the settlement reached between the Suez Canal Authority (SCA) and Shoei Kisen Kaisha Ltd., owner of the Ever Given the ship which became stranded in the Suez Canal in March 2021 which

Taiwanese dry bulk shipping operator U-Ming Marine Transport and its Danish joint venture partner World Marine Offshore have signed an agreement with Thailands Marsun Shipyard to build a CTV for the offshore wind power industry. Marsun Ship

On July 1, Guangzhou Shipyard International PANGAEA 95,000DWT ice-enhanced bulk carrier No. 2 departed from the factory for its maiden voyage. The project was delivered on June 29. The ship is the second ship of the 2+2 Ice-1A-class 95,000D

On July 6, China Shipbuilding Trading and Waigaoqiao Shipbuilding signed a contract for the construction of 4 7000TEU container ships with Taiwan T.S. Lines. The contract value is more than 300 million US dollars. This is also the largest c

All the experts said spot ocean rates would pull back in the second half. The second half has now begun. Not only are spot rates not falling, theyre still rising. Much higher H2 spot rates than expected , combined with double-digit gains fo

ENN LNG (Singapore) Pte Ltd, a unit of private Chinese gas distributor ENN Group, has agreed via a tender to buy about 26 cargoes of liquefied natural gas (LNG) for 2022 and 2023 to replenish stocks as new storage becomes operational, two t

The coal market has swung from a heavy surplus in 2020 into a tight deficit in 2021 as demand has bounced back more aggressively than anticipated. This has caused inter-basin arbitrages to open up, which is consequently driving Atlantic coa

Long-term contracted ocean freight rates continued their ascent through June, although not with the dizzying trajectory witnessed in recent months. Mays 9% surge in prices eased back to a 2.3% gain in June. However, the latest figures, deta

China State Shipbuilding Corporation issued an announcement that from June 1 to June 30, 2021, CSSCs subsidiaries received 42.717 million yuan in government subsidies related to income. Among them, the deep-water general-purpose FPSO projec

On the afternoon of July 1, SIPG released a suggestive announcement of an increase in its earnings forecast for the first half of 2021. According to the preliminary calculation of the financial department, it is estimated that the net profi