August 19th, 20190Hong Kong’s Pacific Basin continues to add to its fleet with the acquisition of 2012-built ultramax , according to brokers. Both Seasure Shipbroking and Advanced Shipping & Trading report that Pacific Basin has shelled out $17.1m to Japan’s Meiho Kaiun for the Iwagi Zosen-built vessel. The price is slightly under the...
August 13th, 20191David Palmer is set to retire as CEO of Hong Kong’s Wah Kwong, one of the territory’s oldest shipping lines. Palmer, formerly with Pareto, took the reins at the Chao family controlled line early last year and has since been restructuring the company in a dramatic way. At Wah Kwong the planned transition from Sabrina Chao as...
August 7th, 20190Hutchison Ports signed a memorandum of understanding yesterday in front of the Egyptian president Abdel-Fattah al-Sisi to establish a container terminal in Egypt's port of Abu Qir. The 1m teu facility will be built on the Mediterranean, a few kilometres northeast of the country’s second city, Alexandria, where Hutchison already has...
August 5th, 20190One of the most high profile names in the classification business has moved to pastures new, taking a director’s position at Hong Kong’s Pacific Basin Shipping. Dr Kirsi Tikka, who has been with American Bureau of Shipping (ABS) since 2001, will become an independent non-executive director at Hong Kong’s largest dry bulk owner...
July 25th, 20190Singapore offshore company Swiber Holdings has formed a joint venture through subsidiary Swiber Offshore Construction with Hong Kong-based Hilong Marine Engineering. The joint venture is called Ocentra Offshore and will focus on pipe-laying and integration of pipeline systems, offshore heavy lifting and installation, subsea tie-in and...
July 23rd, 20190Fred Cheng has cut his cape fleet in half, selling the 13-year-old, 177,000 dwt for $16.5m to Xin Yuan, a shipowning outfit based in Fuzhou, China. Cheng paid around $500,000 more when he bought the ship almost exactly two years ago. The sale leaves Shinyo International with one cape left, the Shinyo Alliance. Cheng made his cape...
July 9th, 20190One of Hong Kong’s oldest shipping companies, 102-year-old Valles Steamship, has sold its oldest aframax. Sources tell Splash that Union Maritime has bought the 14-year-old, 109,000 dwt aframax for $14.5m, making it its second aframax purchase in 2019. The same ship had been reported sold earlier this year to the same outfit for...
July 8th, 20190Lauritzen Bulkers has sold the box-shaped handysize sister vessels Emma Bulker and Louise Bulker. The nine-year-old, 31,900 dwt ships - built in Japan - have been taken by Ed Buttery’s fast-growing Taylor Maritime in Hong Kong with Clarkson Research reporting a price of $9.5m per unit. The vessels were sold on an en bloc basis and...
June 24th, 20190Japan’s Mitsui OSK Lines (MOL) has fixed a long-term charter contract with Hong Kong LNG Terminal for the 263,000 cu m MOL the world’s largest FSRU. The FSRU was delivered from Daewoo Shipbuilding & Marine Engineering two years ago and is currently employed on a mid-term charter for a project in Turkey. The Hong Kong...
June 21st, 20190Tabitha Logan, co-founder of the maritime start-up competition, The Captain’s Table, writes for Splash today, taking a look at the top innovation hubs around the world. The maritime industry is neither traditional nor boring. If you still think so, where have you been? The industry has been taken over by an innovation frenzy....
