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.

DSME Bags Chevron Platform

South Korea’s Daewoo Shipbuilding and Marine Engineering, the world’s second-largest shipbuilder, said on Thursday it had won a $1.3bn deal from Chevron Corp to build an offshore platform which will be deployed in Australia. Daewoo said in a statement that the platform will be delivered in 2014. It has been a fantastic fortnight for Korea’s…

Box Ship Charter Rates Fall

Charter rates for container ships have been declining during the seasonally slow fourth quarter, particularly as uncertainty surrounds carriers over cargo volumes and freight rates heading into the new year. A report by The Journal of Commerce said that the market for gearless Panamax vessels of 3,500 TEU capacity has experienced the sharpest fall, with…

CSAV Orders at Samsung

Chilean liner CSAV has taken a two plus two option deal at Korea’s Samsung Heavy Industries. The South American firm is paying $90m per 8,000 teu ship. The two firm orders are due for delivery in June and July of 2012.