Jiangsu Ocean Shipping orders kamsarmax pair at NACKS
Jiangsu Ocean Shipping (Josco) has contracted Nantong COSCO KHI Ship Engineering (NACKS), a subsidiary of COSCO Shipping Heavy Industry, for two kamsarmax bulk carrier newbuilds. The landmark order for Jiangsu Port Group’s shipping arm, mostly active in the supramax and ultramax segments, will see the newbuilds delivered in 2026 and 2027. No price has been […]
Teekay bags modern aframax
Teekay Tankers has been revealed as the taker of a modern aframax sold by Union Maritime for what appears to be a low price compared to earlier sales, tabling $70.5m, according to Clarksons, for the three-year-old, 113,000 dwt Stirling, a Cosco Zhoushan-built ship. This is Teekay’s first modern tanker purchase in almost a decade. Sales […]
MSC contacts defunct Rongsheng shipyard for its next wave of boxship orders
Global shipbuilding capacity is set to grow by a percent with the reactivation of one of the most famous shipyards from the previous boom and bust era of shipping. MB Shipbroking, formerly known as Maersk Broker, is reporting that Jiangsu Rongsheng Heavy Industries, once China’s biggest private shipyard, is to reopen with the world’s largest […]
Pelagic Partners: How to invest in today’s volatile shipping markets
Fund managers generally see shipping as a niche market and a small investment opportunity, which for Niels Hartmann, the chief executive officer and board member of the Hartmann Group and founding member of owner and shipping fund manager Pelagic Partners, is a distant and commercially blind position to take. With shipping responsible for the delivery […]
S&P markets offering asset players ‘mouth-watering’ returns
This year could mark another record period for ships changing hands with owners willing to fork out immense sums for secondhand tonnage. Dry bulk carrier sales in the first seven months stood at 37m dwt, closing on the record set in 2021 when 60.9m dwt was sold for the full year according to data from […]
Houthis restart attacks in the Gulf of Aden
Yemen’s Houthi movement said over the weekend that it targeted the 2,500 teu Groton containership on Saturday, the first ship strikes for two weeks in the region. The attack happened some 225 km southeast of Aden in the Gulf of Aden. A security official on the CMA CGM operated vessel said a missile struck the […]
China’s Highton swoops on Wilmar kamsarmax trio
China’s Highton Development is bolstering its dry bulk fleet with three kamsarmaxes from Singapore-based conglomerate Wilmar International. The Shanghai-listed outfit said in a filing a deal is in the making to acquire the 2012-built Theresa Jiangsu, Theresa Jilin and Theresa Guangdong for a total of $57.3m. All three ships, estimated by VesselsValue at $54m, are […]
South Korea opens shipbuilding training centre in Indonesia
Faced with record orderbooks, and emerging production bottlenecks, the South Korean government has opened a shipbuilding training centre in Indonesia to provide training programs for Indonesian workers seeking job opportunities in Korea. The centre will train up to 40 workers for a three-month period, offering welding, Korean language and safety courses, according to the Ministry […]
Wind Energy Construction signs for Vard newbuilds
Fincantieri-controlled Norwegian shipbuilder Vard has secured a contract from compatriot Wind Energy Construction for up to two newbuild energy construction vessels (ECVs). The Norwegian outfit linked to Ålesund-based Norwind Offshore and its founders and owners has signed for one firm vessel, delivering in the second quarter of 2027 and one optional unit which can be […]
Prysmian lands $655m Australian interconnector deal
Italian offshore cable maker Prysmian has landed a €600m ($655m) deal with Marinus Link for a new Australian power interconnector between Victoria and Tasmania. The final agreement follows the capacity reservation in September 2023. The commencement of the works is expected by August 2025. The project’s cables will span 345 km – 255 km undersea […]