Tag: fleet expansion

The renewal of the Panama merchant fleet is one of the quality objectives of the Panama Maritime Authority (PMA), which is why the entry of vessels under 15 years of age to the Panama Ship Registry is being prioritized.

HMM Co., South Korea's main sea carrier, plans to significantly expand its fleet of container and bulk carriers by 2030 to boost its global competitiveness.

Arkas is investing $240 million to expand its fleet with four next-generation, eco-designed container vessels, increasing its total number of vessels to 53 and boosting the TEU capacity to over 100,000.

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.