Wilhelmsen Expands in Turkey

Wilhelmsen Ships Service continues to extend its worldwide network coverage by expanding its presence in Turkey. The company has just opened a new office in Aliaga-Izmir, which is the fifth the company has opened in Turkey.

Chinese Banks Scale Back Ship Funding

Chinese banks, avoiding dollar-denominated loans as the yuan appreciates, are scaling back funding to shipyards and vessel owners two years after the government told them to boost their commitment to the industry, Bloomberg reports.

HHI Wins US$1.45 bln Order for 10 Container Vessels

Hyundai Heavy Industries Co., the world’s leading shipbuilder, said Tuesday that it has won a US$1.45 billion deal to build 10 container vessels. Under the deal with Hapag-Lloyd of Germany, the South Korean company will deliver the 13,100-TEU vessels starting from July 2012, the company said. TEU stands for 20-foot equivalent unit. With the deal,…

OW Bunker Launches New Barge in Gothenburg

The company has a wide area of coverage within Sweden providing product deliveries in Gothenburg and other west coast ports, ports in southern Sweden, including Helsingborg and Malmö, as well as an offshore bunkering service for customers who want to maximise efficiencies and save on costs associated with bunkering in ports.

Architect Helsinki Shipyard Bags Two MIBSVs

The joint-venture company Arctech Helsinki Shipyard Oy formed last week, 50/50 owned by STX Finland and United Shipbuilding Corporation, has received an order for two new Multifunctional Icebreaking Supply Vessels (MIBSV) from its Russian customer Sovcomflot. The value of the order is USD200 million and the project will start immediately.

Rolls-Royce Awarded $89 Million MissionCare™ Contract

Rolls-Royce, the global power systems company, has been awarded an $89 million MissionCare™ contract by the U.S. Department of Defense Naval Air Systems Command at Patuxent River to provide support for the F405 (Adour) engines that power the U.S. Navy’s T-45 training aircraft.

NFC Ferries Set New Records with Austal Built Ferry

With its Australian-built high speed ferry Hormuz having already increased the record for the world’s fastest diesel powered vehicle passenger ferry, setting a target of 56.3 knots on November 19, 2010, the National Ferries Company of Oman has now confirmed that her sister vessel Shinas has broken that record by achieving a speed of 56.6…

Tsakos Energy Navigation Awarded Two 15-Year Contracts

Tsakos Energy Navigation Ltd. (“TEN”) (NYSE:TNP – News) or (the “Company”) today announced two 15-year time charters with a national oil major for two DP2 Suezmax shuttle tankers with delivery within 2012. These charters are expected to generate revenues of at least $520 million over their corresponding periods.