Tag: fleet expansion

COSCO Shipping Specialized Carriers plans a massive fleet expansion by adding over 80 vessels with various functions in the next two years.

Peninsula, a marine fuels solutions company, has welcomed into its expanding fleet, Hercules Sky, a two year old oil chemical tanker.

Global shipyards are under pressure and 2021 could bring the third lowest level of newbuilding orders in 12 years, says BIMCO.

Wall Street Journal reported that Hapag-Lloyd and Taiwanese carrier Evergreen Marine Corp have separately placed orders to Asian yards for the construction of more than a dozen mega-container ships that would have a combined value of about $2.2 billion.

According to the Director General of NIMASA, Dr Dakuku Peterside, Nigerians will be able to lift their country's crude oil for export immediately the national fleet comes into operation. The new national fleet will be 49% owned by a technical partner and Nigerian investors will hold the 51%.

Official data from the UK Maritime and Coastguard Agency (MCA) focus on the fact that the gross tonnage on the UK  Ship Register was 16.0 million at end of December 2018, a decrease of 1% on the previous year, but 16% up on the figure at end 2014.

Concerning its FY2020 budget, the US Navy proposed to include a $10 billion top line increase, in comparison to the proposed reduction in projected fleet size. The Navy intends to prioritize more up-to-date vessels, retiring the carrier USS Truman two decades early and skipping the planned service life extension for the Ticonderoga-class cruisers. 

DP World PLC, the Dubai-based port operator, announced its interest on purchasing the holding company of P&O Ferries and P&O Ferrymasters of GBP 322 million (USD 421 million). The transaction implies a 2017 Enterprise Value/EBITDA valuation multiple of 6.1x.

Official data from the UK Maritime and Coastguard Agency shows that gross tonnage on the UKSR has increased by 18% compared with the end of 2014, following three consecutive years of growth. Moreover, the UK registered merchant fleet grew by 7% in gross tonnage (GT) in the year to end December 2017, a third consecutive year of growth. Lastly, the UK share of the world trading fleet was 0.8% at the end of 2017, with the UK registered trading fleet the 18th largest in the world by deadweight tonnage.

Wallem Commercial Services, announced that it has welcome two new Supramax vessels to its commercially-managed fleet, which now amounts a total of twenty vessels.