shipbuilding

Chatsworth, Onex partner on Elefsina Shipyards

Chatsworth, US-based investment banking firm, is collaborating with Onex Elefsis Shipyards on investment of about USD 400 million in financially-distressed Elefsina Shipyards. The agreement for the partnership was decided on July 9, between the two companies. Now, Chatsworth Securities became the stakeholder of the shipyard and is also the exclusive investment bank for the company’s capital needs.

US Congressmen propose bill to boost domestic shipbuilding industry

America’s Congressman, John Garamendi and Senator Roger Wicker are reintroducing the ‘Energizing American Shipbuilding Act’, aiming to recapitalise the US’s strategic domestic building and maritime industries. This would be achieved by increasing the percentages of LNG and crude oil exports that will be transported on US-built, flagged, and crewed vessels. 

Mergers of Chinese shipbuilders put S. Korean companies at risk

Several mergers between Chinese shipbuilders are putting South Korean mid-size companies, which are already struggling, into risk. Because of these mergers, are medium-sized Korean shipyards worry that they could lose deals to construct oil tankers to Chinese companies, like it happened for bulk carriers.

Norfolk Naval Shipyard tests Virtual Reality training

US’ Norfolk Naval Shipyard (NNSY) has collaborated with military shipbuilding company Huntington Ingalls Industries (HII) to create laser scans of vessels and develop virtual training simulations for the Norfolk Naval Shipyard (NNSY) workforce.

ABS, MOL cooperate to build up to 14 next-gen gas carriers

ABS and MOL informed that they have signed a Memorandum of Understanding to collaborate on up to 14 new gas carriers. The agreement regards seven new-build Very Large Ethane Carriers (VLEC) and up to seven new-build Liquefied Natural Gas Carriers (LNGC) designed to carry gas from the US to China and other global markets.

Watch: John F. Kennedy aircraft carrier sees upper bow lift installed

As the video presents, the US Navy’s aircraft carrier, John F. Kennedy, saw the installation of its final piece, conducted by Huntington Ingalls Industries. The upper bow part that is to be added on the vessel is one of the last steel structural units, also known as superlift, which weighs 780 tonnes and was being built for 18 months. 

Q2 2019 sees record low for newbuild orders

As VesselsValue’s Head Cargo Analyst, Olivia Watkins, reviews which yards have received orders and and which vessel types have been popular purchases, it is revealed that newbuilding orders fell to record lows during the second quarter of 2019.

Sail-powered cargo ships to operate between France and US

France-based Neoline has concluded to the shipyard that will construct its first two sail-powered RoRo cargo ships to operate between France and US from 2021. Namely, chose France-based Neopolia to build the vessels. At first, the vessels will be operating on a pilot route, linking Saint-Nazaire, France with the US East Coast and Saint-Pierre & Miquelon off the coast of Newfoundland.

Agreement signed for building 18 electric-powered bulkers

Chinese lithium battery producer EVE Energy and Shanghai Hanshun Shipping will cooperate for the development of eighteen electric-powered bulk carriers. These ships are expected to have 30% less operation costs than other river-ocean going bulk carriers.

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