Two units of Dubai-based Transworld Group including a feeder boxline are being widely reported as close to being bought by acquisitive DP World, the rapidly transforming terminal operator. Transworld and DP World officials have yet to reply to questions sent by Splash today. Dubai-headquartered...
https://splash247.com/dp-world-tipped-to-buy-out-shreyas-shipping-and-logistics/
Sometimes in the rollercoaster ride that is shipping a failed deal can prove beneficial. Take BW Dry Cargo, the Andreas Sohmen-Pao vehicle. Plans were nearly complete last month for a $41m en bloc sale of three of the company’s first acquisitions – the 10-year-old Japanese-built kamsarmaxes BW...
https://splash247.com/second-time-lucky-for-bw-as-kamsarmax-trio-notch-improved-prices/
Packaged en bloc sales of bulk carriers are dominating headlines this summer as several shipowners clear out their older vessels, taking advantage of the positive drive in this segment. This week South Korea’s Doriko is slashing its fleet significantly. Brokers note that the seven-ship strong...
With demand for lay-up services growing, traditional parking lots for unused ships are becoming congested forcing shipowners to seek alternative sites to send their assets into hibernation. Labuan in Malaysia, just north of Brunei, one of Asia’s premier lay-up destinations has become very busy in...
https://splash247.com/surging-demand-sees-new-lay-up-destinations-emerge/
Sinagapore shipbuilding group Sembcorp Marine’s CEO Wong Weng Sun has volunteered to take a 50% pay cut as part of the group’s cost reduction measures. In the meantime, other members of the management team will be taking a 10-15% pay cut while employees earning above S$1,800 ($1,293) per month will...
https://splash247.com/sembcorp-marine-ceo-volunteers-to-take-50-pay-cut/
Nine Japanese companies – including shipyards, shipping line Mitsui OSK Lines (MOL), Class NK and steel mills – are looking into capturing CO2 emissions from steel production to ultimately power ships. The cross-industry initiative using so-called methanation technology is the latest innovative...
Malaysian national shipping group MISC has entered into memorandum of agreements with China’s Zhejiang Satellite Petrochemical for the acquisition of six newbuild 98,000 cu m very large ethane carriers (VLECs). The six VLECs, currently under construction at South Korean yards Hyundai Heavy and...
https://splash247.com/misc-moves-into-vlec-sector-through-deal-with-satellite-petrochemical/
BW LPG has announced the sale and delivery of VLGC , with the vessel to be used by its new owner for continued trading. BW had been using the vessel as a LPG floating storage for a gas-to-power project since it was acquired five years ago. BW exercised a purchase option for the 78,489 cu …
Fratelli Cosulich has revealed to Splash that a seventh unit has been added to its fleet of bunker tankers deployed in the port of Singapore. The 4,650 dwt vessel, already renamed (ex Marine Elite, controlled by Ocean Tankers), was built in 2014 at Nanjing Yonghua. The price paid remained...
Thai tanker owner Prima Marine has returned to Chinese yard Zhejiang Shenzhen Shipbuilding for the construction of three 3,000 dwt small clean tankers. Delivery of the three vessels (hull 19057, hull 19058, hull 19059) are scheduled in April 2021. The value of the contract is not disclosed. Prima...
https://splash247.com/prima-marine-orders-small-tanker-trio-at-zhejiang-shenzhou/