May 23rd, 20191A very young boxship has been sent for scrap. The , a Chinese-built, nine-year-old boxship, has arrived at Chittagong’s anchorage, according to MarineTraffic, awaiting to be broken up. The 5,086 teu ship is one of the youngest container vessels to have been sent for early retirement. The ship was acquired from Hamburger Lloyd four...
May 20th, 20190HMM, South Korea’s flagship carrier formerly known as Hyundai Merchant Marine, has unveiled a rebrand. The new logo is meant to represent the bow of a huge ship, but some wags have said the rebrand gives the struggling carrier the look of flatlining. According to a release, the blue HMM letters in the new logo embody the shape of...
May 16th, 20190Japanese owner Mitsui OSK Lines (MOL) has placed an order for a 176,000 cu m LNG carrier at South Korean yard DSME, bringing the company's orderbook at the yard to three LNG carriers. The new order is an option to a newbuilding contract signed by MOL last year for two LNG carriers at the yard. Delivery of the vessels are scheduled...
May 15th, 20190While Seoul might have anticipated overseas monopoly concerns to be aired about the proposed merger between two of its largest shipyards it is on home soil where anti-competition fears are being voiced most loudly to date. The Korean Metal Workers’ Union and union members from Daewoo Shipbuilding and Marine Engineering (DSME)...
May 8th, 20190Japanese owner Meiji Shipping has exercised an option at South Korea's Hyundai Mipo Dockyard for the construction of two 50,000 dwt MR tankers. The two vessels will add to the company's existing order of eight 50,000 dwt tankers at the yard. According to shipbroking sources, the two vessels will be fitted with scrubbers and...
May 3rd, 20190Splash can reveal the buyers of a swathe of Japanese boxship tonnage reported sold in yesterday’s Weekly Broker S&P roundup. Kawasaki Kisen Kaisha (K Line) has recently announced significant plans to cut back the size of its chartered-in fleet. In line with that, as many classic panamax boxships have been returned to their...
May 1st, 20190John Fredriksen’s rig investment company Northern Drilling has exercised its option for newbuild drillship from South Korean yard DSME. Northern Drilling is paying $350m for the drillship and delivery is flexible through to the end of the first quarter of 2021. Cobalt Explorer was originally ordered by Vantage Drilling and...
April 29th, 20190John Fredirksen’s Flex LNG has sold 2018-built LNG carrier pair Flex Endeavour and Flex Enterprise to Hyundai Glovis for $420m. Hyundai Glovis is paying $300m and providing a seller’s credit of $120m. It will time charter the vessel back to Flex LNG for a period of ten years. Flex LNG has options to acquire the vessels during the...
April 29th, 20191Greek owner Stavros Livanos' Sun Enterprises is said to have placed order for three 50,000 dwt MR tankers at South Korean yard Hyundai Mipo Dockyard. According to shipbroking sources, the newbuilding contract includes a firm order for two vessels and an option for another vessel. The price of the new ships is around $37.3m each....
April 25th, 20190South Korea's Ministry of Trade, Industry and Energy announced yesterday that it would allocate KRW70bn ($61m) to support local shipbuilders. According to the ministry, the fund will be focused on helping shipbuilders to develop environment-friendly vessels such as LNG-powered ships. The latest financing support package is a...
