Today, Sunshine Pride, an NYK-operated coal carrier for Joban Joint Power Co. Ltd., was delivered by Japanese builder Tsuneishi Shipbuilding Co. Ltd.Under a long-term contract, this vessel will be dedicated to the transport of coal to generate electricity at the Nakoso Power Station in the city of Iwaki, Japan.
“The decrease in state spending on higher education is what keeps me awake at night” is how RADM Michael Alfultis, President, SUNY Maritime College, neatly summarized the biggest challenge he faces as the leader of one of the U.S.’ leading maritime universities. “With a small student body (about 1700), the numbers simply don’t work
As the 90th anniversary of Robert Allan Ltd. approaches it is quite timely to address the development of Robert Allan’s designs as the years passed by and technology changed.When the first Robert Allan came out to Canada at the end of the First War he was a trained naval architect experienced in the design of rivetted steel ships.
Nippon Yusen Kaisha (NYK Group) has taken delivery of Takaroa Sun, a methanol carrier equipped with two-stroke dual-fuel engine tech that allows the vessel to be powered by methanol. Built in South Korea at Hyundai MIPO Dockyard, the new ship was funded through NYK’s green financing initiative established to support environment-friendly projects.
Natural gas is quickly becoming the “fuel of choice” for the maritime industry, not only for its potential in reducing environmentally hazardous gas emissions, but also for its reduced cost when compared to other fossil fuel-based alternatives.For natural gas to become a preferred marine fuel, its availability needs to improve
Vessel owners rarely carry cargo for their own account. More commonly by far, a vessel owner will charter its vessel to another party to carry their (or their sub-charterer’s) cargo. The contracts can vary widely – from voyage charters or contracts of affreightment to time charters to negotiable bills of lading (not to mention the more complex arrangements that one often sees for container
ExxonMobil Asia Pacific has signed a two-year time charter agreement with Singapore-based Sinanju Tankers Holdings Pte Ltd to lease Singapore's first liquefied natural gas (LNG) powered bunker tanker, Sinanju said in an statement on Friday.The 7,990 deadweight tonnage (dwt) newbuild will be the first LNG bunker tanker for Singapore and Sinanju and will deliver ExxonMobil's new Engineered Marine
China's two largest shipbuilders are planning to merge, their listed arms said in separate exchange filings on Monday, the latest to join a wave of mergers among state-owned enterprises as the government overhauls the sector.The move by China Shipbuilding Industry Corp (CSIC) and China State Shipbuilding Corp Ltd (CSSC)
The market for Initial public offerings (IPOs) across the global shipping industry has remained understandably muted in recent years but secondary offerings continue to be an important funding mechanism, according to a recent report from Drewry Maritime Financial Research.Despite low interest in shipping IPOs in the US over the last few years
Mitsubishi Shipbuilding held a christening ceremony on February 21 for the next-generation LNG (liquefied natural gas) carrier currently under construction for Mitsui & Co., Ltd.The new ship, named Marvel Crane, is a design that significantly improves both LNG carrying capacity and fuel performance due to the adoption of efficient hull structure and hybrid propulsion system.
Resulting entity would control about 20 pct of global market; Daewoo shares rally 22 pct; Hyundai Heavy shares fall.Hyundai Heavy Industries, the world's biggest shipbuilding group, has announced a share swap deal worth 2.1 trillion won ($1.98 billion) to take over second-ranked Daewoo and create a global heavyweight controlling over 20 percent of the market.
Chinese shipbuilding conglomerate China State Shipbuilding Corporation (CSSC) has signed contracts for 36 newbuildngs worth a total contracts value of over RMB10bn (USD1.48bln).According to the state media Xinhua, the vessels will be built at a number of different yards under the CSSC umbrella and CSSC (Hong Kong) Shipping Company, will provide financing service to all 36 newbuildings.