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Greece's Angelicoussis Shipping Group has concluded a deal with South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) to convert another two VLCC contracts to orders for LNG carriers, Seatrade Asia reports. 
The deal brings to three the number of new LNG carriers for the Greek owner at its favoured South Korean shipbuilder. 
DSME hulls number 5341 and 5323 had been ordered at about $155m each, a mark close to the peak for 320,000 dwt VLCC prices. 
The contract conversions will have been negotiated with an additional cash payment by the owner. 
 The first of the three 156,000 cu m LNG carriers is scheduled for delivery in the second half of 2013 to Angelicoussis’ LNG and liquefied petroleum gas carrier arm Maran Gas Maritime, with the two sister vessels to follow in 2014 and 2015.

1,479 days ago by arnekiel

Shipping giant Maersk Line has announced a general rate increase on Asia-Europe routes of US$250 per TEU starting June 1. "The rate restoration initiative will apply to all dry and reefer cargo moving from all Asian ports to all destinations in north Europe and the Mediterranean," Maersk said in a notice to trade. This follows a Maersk rate increase that took effect in March.

1,484 days ago by arnekiel

Royal Caribbean Cruises Ltd. recently firmed its letter of intent for a 158,000gt newbuild at Meyer Werft, Richard Fain said during yesterday’s earnings call. In early February, the company signed a letter of intent for one ship to be delivered in fall 2014 with an option for a second ship in spring 2015. Each vessel has 4,100 lower berths.

UASC borrows US$140 million to buy nine 13,100-TEU ships Gulf Bank will provide US$140 million loan to the United Arab Shipping Company (UASC) towards equipping and purchasing nine 13,100-TEU newbuildings, Shednet reports. Last February, UASC borrowed $302 million to buy the remaining three of these mega ships on order from Samsung Heavy Industries. The Kuwaiti shipping line also borrowed $1.1 billion last year to pay for six of these ships and the first of which was delivered from the Korean yard in early April.

South Korea's STX Offshore & Shipbuilding is close to winning up to a $2.8bn container ship order from Canada's Seaspan Corp , a local newspaper said early this week. STX signed a letter of intent for a deal to build ten 14,000 teu sized carriers, each worth $140m, which also includes a 10-vessel option, Maeil Business Newspaper said in an online edition.

South Korea's Samsung Heavy Industries has won an order for two LNG carriers from GasLog. 

The Greek shipowner has booked two 155,000 cu m LNG carriers at the yard. 
Samsung had announced on April 11th that it had won four LNG carriers from Golar LNG Energy and two ships from an unnamed owner for $1.2bn in total, SeaNews Asia reports.

Kawasaki Kisen Kaisha, Ltd. ("K" Line) via its European subsidiary company possesses 50% share of SAL Group in 2007, which engages in heavy lift transportation headquartered in Germany, and 2 executive officers were dispatched from "K" Line to work with the 3 existing partners. "K" Line on April, 4 reached a basic agreement with joint venture partners on purchasing all (in total 50%) of the shares of SAL Group at the end of June 2011. With this transaction, "K" Line will become 100% owner of SAL Group. After acquiring 100% ownership of SAL, "K" Line expects to keep the trading name of SAL, location of head office and employment of all current staff; The "K" Line group has a firm intention to develop heavy lifter business as a core business of "K" Line with the established trade name of SAL and combining abundant experiences and know-how of management and staff of SAL in heavy lifter business.

Japanese carrier “K” Line reported $368 million in net income for its just-ended fiscal year but forecast lower profit and revenue amid a “largely unpredictable” outlook for shipping, Journal of Commerce reports. The profit for the fiscal year ended March 31 compared with a $717 million loss a year earlier. Operating revenue rose 17.5 percent to $11.8 billion.

Samsung Heavy Industries , the world's second-largest shipbuilder, said on Thursday that it had received an order worth 659.8 billion won ($612.3 million) to build a drillship for Ocean Rig, Reuters reports. The shipper under a deal with Samsung on April 19, Samsung said in a statement. The yard would deliver the vessel by end-October, 2013.

1,485 days ago by arnekiel

China Ocean Shipping (Group) Company (COSCO), the largest container ship operator in China and the sixth-largest in the world by volume, will resume its investment in ports, said Wei Jiafu, the president and chief executive officer of the group, on Tuesday. High demand and robust global economic growth between 2003 and 2008 prompted shipping companies worldwide to deepen investment in ports. However, enthusiasm cooled after the sudden eruption of the global financial crisis and the ensuing fragile economic recovery.

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