Tag: newbuildings

Abu Dhabi’s Al Seer Marine signed a joint venture agreement with Damen Shipyards and financier DTec Industries, to target $10bn of newbuildings.

Wärtsilä and Samsung Heavy Industries signed a joint development programme (JDP) agreement aimed at developing ammonia-fuelled vessels with 4-stroke auxiliary engines available for future newbuild projects.

Total orders of dry bulk, tanker, and container ships have jumped 119.7% in the first five months of the year compared with the same period in 2020, according to BIMCO.

CO2 emissions in shipping will continue to rise, as most of the efficiency gains possible by the shipping industry to drive down its carbon footprint over the past decade have already been made, Swedish-based Marine Benchmark says in a new study. 

Iran’s Ports and Maritime Organization (PMO) has allocated 36 trillion rials (=$857.2 million) of its budget resources for a program to develop the country’s maritime industry, including the construction of 83 vessels, the head of PMO informed. 

Nauticor, Germany-based LNG supplier, entered into a cooperation with manufacturer of special purpose vessels Fr. Fassmer, in newbuilding and retrofitting projects for ships with LNG engines. The two partners aim to generate synergy effects for the commissioning of newbuild or retrofitted vessels, which have been equipped with LNG engines and the respective system components.

Carnival Cruise Line announced that its newest ship, 'Carnival Panorama', completed sea trials in the Adriatic Sea earlier this week, in anticipation of its inaugural cruise from Long Beach, on 11 December 2019. Panorama became the line’s first new ship on the West Coast in 20 years.

Croatian shipbuilder Uljanik saw another cancelled newbuilding order, involving the construction of a livestock carrier by an owner in Kuwait. This happens as the shipyard has been in financial trouble for months and workers are on a strike, as they have not received their wages for months. 

In line with CMA CGM's earlier announcement that it would opt for both LNG and scrubbers to achieve compliance with 2020 sulphur cap, the French shipping company has now set its newbuilding orders, split between the two options. 

Containers and LPG tankers are expected to be the market winners for the coming year, although the overall outlook for shipping asset prices remains bright, VesselsValue said in its latest forecast on shipping market for Q1 2019 to Q1 2020.