krogragg

Category: Asia

  • HMM joins the exclusive teu millionaires club

    HMM joins the exclusive teu millionaires club South Korea’s flagship carrier HMM has become the eighth member of the exclusive teu millionaires club. HMM’s fleet now stands at 1,007,180 teu, according to analysis by Alphaliner, which noted in its most recent weekly report that the Korean carrier’s operated capacity has doubled over the past five…

  • Yinson takes Maran VLCC

    Yinson takes Maran VLCC Singapore’s Yinson Production has quietly extended its footprint into the VLCC segment, sealing a deal with Greek powerhouse Angelicoussis Group for the 317,100 dwt Maran Antares (built 2012, Daewoo). The price remains undisclosed, though VesselsValue estimates the ship’s market worth at around $68m — marking Yinson’s youngest tanker purchase to date. …

  • China and India step back from Russian oil under US pressure

    China and India step back from Russian oil under US pressure The oil markets are in flux today as tanker trades retrench and Russia’s two largest buyers of oil pause buying the fuel that has helped fund Moscow’s war in Ukraine for the past three and a half years.  News has emerged in the past…

  • MSC and Maersk join CMA CGM in moving tonnage to India

    MSC and Maersk join CMA CGM in moving tonnage to India The world’s three largest containerlines are reflagging ships to the Indian register to take advantage of local cabotage laws and growing business around the shorelines of the world’s most populous nation. France’s CMA CGM was the first global liner to make the move this…

  • Splash Wrap: Sanctions, shadow fleets, and shifting tides

    Splash Wrap: Sanctions, shadow fleets, and shifting tides US president Donald Trump unveiled sweeping sanctions on Russia’s top oil producers, Rosneft and Lukoil, this week in his most extensive energy crackdown since returning to office. Aimed at forcing Moscow toward peace talks, the measures cut the companies off from US banking and dollar systems. The…

  • Zodiac Maritime takes the plunge with suezmax orders in Vietnam

    Zodiac Maritime takes the plunge with suezmax orders in Vietnam UK-headquartered Zodiac Maritime has achieved another shipbuilding first, becoming the first client of Samsung Heavy Industries’ newly controlled Vietnam shipyard, committing to three firm conventionally fuelled suezmax tankers with options, priced at $80m per unit and delivering in 2028. Each vessel, with a capacity of…

  • Flag-hopping hits extreme levels

    Flag-hopping hits extreme levels The monthly publication of Clarksons Research’s World Fleet Monitor increasingly shows data that reflects the extraordinary geopolitical challenges and machinations that shipping has to navigate in 2025. With flag-hopping becoming standard operating procedure for the shadow – or parallel – fleet, monthly changes in registry numbers have never been so extreme…

  • Rising US deportations of Filipino crew spark diplomatic intervention

    Rising US deportations of Filipino crew spark diplomatic intervention The Philippines has demanded an explanation from Washington after a rising number of Filipino seafarers were reportedly denied entry to the United States and deported in recent months. In a statement issued on Tuesday, the Philippine Embassy in Washington, DC, said it had sought clarification from…

  • Japan’s shipbuilders seek $2.3bn injection to double output

    Japan’s shipbuilders seek $2.3bn injection to double output Japan’s shipbuilders are mounting their most ambitious modernisation drive in decades, seeking a ¥350bn ($2.3bn) government-backed injection to double national shipbuilding output within 10 years. The plan, unveiled on Wednesday by the Shipbuilders’ Association of Japan (SAJ) ahead of a meeting with the ruling Liberal Democratic Party…

  • Shipping heavyweights join bid to standardise emissions tracking

    Shipping heavyweights join bid to standardise emissions tracking Carbon Measures, a new global coalition representing major businesses from diverse industries and geographies, including famous names from shipping, ports and large charterers, has launched this week seeking to establish what they claim is a more accurate carbon accounting framework as well as to drive market-based solutions…

  • ORIX steps in to save Japan’s greying shipowning class

    ORIX steps in to save Japan’s greying shipowning class Japan is well known for its acute demographic timebomb. More than 29% of its population is aged 65 or older — the highest proportion globally — while the birth rate continues to fall, reaching a record low in 2024. The working-age population is shrinking rapidly, straining…

  • Great Eastern offloads veteran tanker in ongoing fleet refresh

    Great Eastern offloads veteran tanker in ongoing fleet refresh India’s Great Eastern Shipping has sold another older tanker as part of its ongoing fleet renewal drive. The Mumbai-listed company said it has sealed a deal to sell the 2005-built 48,500 dwt Jag Pooja to an unaffiliated third party. VesselsValue estimates the ship’s market value at…

  • Pacific Basin shifting half of bulker fleet to Singapore to limit US port fee exposure

    Pacific Basin shifting half of bulker fleet to Singapore to limit US port fee exposure Hong Kong-listed Pacific Basin Shipping is moving half of its bulker fleet to Singapore and reflagging vessels under its Singapore entity to reduce exposure to new US port fees introduced under the USTR Section 301 scheme. The move comes after…

  • NYK seals CTV newbuild deal for domestic offshore wind project

    NYK seals CTV newbuild deal for domestic offshore wind project Japan’s Nippon Yusen Kaisha (NYK) has signed a long-term charter deal with Oga Katagami Akita Offshore Green Energy for a domestically built crew transfer vessel (CTV) that will serve the country’s first offshore wind farm developed in general sea areas. The vessel will be built…

  • CMA CGM turns to India for six feeder newbuilds

    CMA CGM turns to India for six feeder newbuilds France’s CMA CGM has signed a letter of intent with Cochin Shipyard Ltd (CSL) to build six LNG-powered feeder containerships, marking the first-ever order by a global liner operator at an Indian yard. The 1,700 teu vessels are valued at around $300m in total. A formal…

  • Court clears ICTSI to run Durban terminal after Maersk challenge fails

    Court clears ICTSI to run Durban terminal after Maersk challenge fails A South African court has dismissed a legal challenge by AP Moller-Maersk’s terminal arm against the award of a key port concession to International Container Terminal Services Inc (ICTSI), paving the way for the Filipino operator to take control of Durban Container Terminal (DCT)…

  • Purus joins LNG bunker rush with Shell-backed newbuild pair

    Purus joins LNG bunker rush with Shell-backed newbuild pair Purus Marine has ordered two LNG bunker vessels in China, marking its entry into the rapidly expanding market. The Singapore-based outfit, with over 70 ships across clean energy and offshore segments, will see the 18,900 cu m dual-fuel newbuilds constructed at Nantong CIMC Sinopacific Offshore &…

  • MOL’s 98% methane slip cut hands LNG a lifeline ahead of key IMO showdown

    MOL’s 98% methane slip cut hands LNG a lifeline ahead of key IMO showdown Japan’s Mitsui OSK Lines (MOL) has achieved a 98% reduction in methane slip during sea trials — a leap that could reshape the emissions profile of LNG-fuelled tonnage ahead of next week’s Marine Environment Protection Committee meeting at the International Maritime…

  • HMM tied to $2.2bn boxship orders

    HMM tied to $2.2bn boxship orders Broking reports list a sizeable order from South Korea’s flagship carrier worth more than $2bn in total.  HMM is reported to have ordered 12 LNG dual-fuelled, 14,000 teu containerships on home soil. The vessels, thought to be costing around $182.5m per unit are split between two of the country’s…

  • ICTSI locks in Subic Bay terminals extension with $130m upgrade plan

    ICTSI locks in Subic Bay terminals extension with $130m upgrade plan Manila-headquartered International Container Terminal Services Inc (ICTSI) has secured a 25-year extension for its concession agreements to operate Subic Bay’s two container terminals, NCT-1 and NCT-2. The deal, signed with the Subic Bay Metropolitan Authority (SBMA), allows ICTSI’s subsidiaries, Subic Bay International Terminals Corp…

  • Shipping arbitration landscape shifts beyond London

    Shipping arbitration landscape shifts beyond London London has maintained its position as the world’s top maritime arbitration hub, although new data from HFW shows Asia’s centres are closing the gap. The law firm’s sixth Maritime Arbitration in Numbers report analysed responses from 19 arbitral bodies across 18 jurisdictions. It found that while London remains dominant,…

  • Capital Maritime emerges behind HD Hyundai Mipo feeder orders

    Capital Maritime emerges behind HD Hyundai Mipo feeder orders Evangelos Marinakis-led Capital Maritime Group has been linked to the latest round of feeder containership contracts at HD Hyundai Mipo Dockyard in South Korea. Shipbuilding sources said the Greek owner is behind orders for two 2,800 teu units priced at around $56.9m each and one 1,800…

  • Allseas and DOF awarded contracts for $125m Singapore crude transfer revamp

    Allseas and DOF awarded contracts for $125m Singapore crude transfer revamp Swiss contractor Allseas and Norway’s DOF have clinched contracts from Aster Chemicals & Energy to renew the single buoy mooring (SBM) and subsea pipeline system serving Bukom Island, Singapore. The scope includes engineering, installation and commissioning of new infrastructure linking the offshore facility —…

  • Advantage Tankers firms fresh VLCC and suezmax orders in South Korea

    Advantage Tankers firms fresh VLCC and suezmax orders in South Korea Geneva-based Advantage Tankers has stepped up its move into the large tanker segment with fresh orders in South Korea, adding one very large crude carrier (VLCC) and two suezmaxes to its books. Industry sources said the Tugrul Tokgoz-led outfit has exercised an option for…

  • Carsten Rehder inks $62m MPP order in India

    Carsten Rehder inks $62m MPP order in India German owner Carsten Rehder Schiffsmakler und Reederei has expanded its methanol-ready multipurpose newbuilding programme in India, contracting four firm units with options for two more at Garden Reach Shipbuilders & Engineers (GRSE). The deal will see the Hamburg-based company pay $62.4m to the Kolkata yard, with deliveries…

  • Latsco ends MR order drought with K Shipbuilding deal

    Latsco ends MR order drought with K Shipbuilding deal Greek shipowner Latsco Shipping has returned to the product tanker newbuilding market after nearly a decade, with sources linking the company to a fresh order at South Korea’s K Shipbuilding. Shipbuilding players in Athens and Seoul said Latsco, controlled by the Latsis family and led by…

  • Marco Polo Marine expands fleet with two new AHTS vessels

    Marco Polo Marine expands fleet with two new AHTS vessels Singapore offshore vessel player and shipyard Marco Polo Marine will be expanding its fleet with the addition of two newbuild anchor handling tug supply (AHTS) vessels. With a combined value of approximately $34m, the vessels are expected to join the fleet in 2026. With these…

  • Singapore Inc feels the squeeze

    Singapore Inc feels the squeeze It might be the world’s premier maritime hub, but the bills are a pain. How do you run a tight ship in the Lion Republic? Singapore may be celebrated as one of the world’s most efficient and stable maritime hubs, but beneath the gloss, businesses are grappling with the rising…

  • India unveils $8bn maritime moonshot

    India unveils $8bn maritime moonshot India has unveiled an $8bn maritime stimulus, its boldest bet yet to climb the global shipbuilding ladder.  The Union cabinet this week signed off on a ₹69,725 crore package aimed at nothing less than vaulting the country into the world’s top ten shipbuilding nations by 2030, and the top five…

  • Coal trade faces rare back-to-back decline

    Coal trade faces rare back-to-back decline Global coal trade is forecast to shrink in 2025, the first drop since the covid-19 shock of 2020, with another fall expected in 2026. If confirmed, this would be the first consecutive two-year decline in seaborne coal trade in the 21st century, according to analysis by The Signal Group…

  • UNCTAD warns shipping is entering a period of fragile growth and mounting uncertainty

    UNCTAD warns shipping is entering a period of fragile growth and mounting uncertainty Global shipping is entering a period of fragile growth, rising costs and mounting uncertainty, according to The Review of Maritime Transport 2025 released yesterday by UN Trade and Development (UNCTAD). After firm growth last year, seaborne trade is expected to stall in…

  • Idan Ofer’s EPS moves on full CoolCo takeover

    Idan Ofer’s EPS moves on full CoolCo takeover Israeli billionaire Idan Ofer is moving to take LNG carrier owner Cool Company (CoolCo) private through his investment arm EPS Ventures. EPS, which already controls nearly 60% of CoolCo, is in advanced talks to buy out the remaining shares at $9.65 each in cash. The offer values…

  • Singapore’s maritime tech ambitions unveiled

    Singapore’s maritime tech ambitions unveiled From testbed to global pace-setter, the Lion Republic is showing world maritime how to harness tech properly. The latest chapter from our brand new Singapore Market Report magazine. Singapore is steadily consolidating its role as one of the world’s most dynamic maritime technology hub, blending government-led initiatives with industry collaboration…

  • Shipping bosses in Singapore call for immigration shake-up

    Shipping bosses in Singapore call for immigration shake-up Splash tackles one of the thornier issues facing the local maritime community in the latest instalment from our brand new Singapore Market Report magazine. Singapore’s maritime hub status is unquestioned — but its shipping community is increasingly vocal about one factor it believes could undermine future competitiveness:…

  • Seatrium offloads US shipyard to Karpowership

    Seatrium offloads US shipyard to Karpowership Singapore shipyard group Seatrium has sold its AmMFELS yard located at Brownsville, Texas, for a consideration of S$65m ($50.6m) to Karpower Valley, a related party of Karpowership. Seatrium stated that the accretive divestment would allow the company to enhance capital and operational efficiencies while unlocking value from one of…

  • Diana Shipping charters out kamsarmax to NYK Line

    Diana Shipping charters out kamsarmax to NYK Line Greek bulker owner Diana Shipping has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha (NYK Line) for one of its kamsarmax dry bulk vessels. The company hired the 2014-built, 82,165 dwt bulker Leonidas P. C. The gross charter rate is $14,000 per day, minus…

  • Singapore shows others how to future-proof maritime

    Singapore shows others how to future-proof maritime Singapore has more than one maritime week. There’s the official one in April, plus this week’s mix of events – including our own Maritime CEO Forum – that culminate with Friday’s massive Singapore Shipping Association dinner. Splash launches its latest Singapore annual today, assessing how the city-state aims…

  • SCI teams up with refiners to grow India’s MR fleet

    SCI teams up with refiners to grow India’s MR fleet India’s state-owned Shipping Corporation of India (SCI) is joining forces with the country’s top refiners to launch an expansion of the MR tanker fleet, part of New Delhi’s drive for greater energy and maritime security. According to the Economic Times, SCI is forming a joint…

  • Vehicle shipping player Polaris launches dry bulk arm

    Vehicle shipping player Polaris launches dry bulk arm Polaris International is diversifying its shipping portfolio with the official entry into the dry bulk market and the launch of Polaris Bulkers The move marks a strategic expansion for Polaris, best known for its automotive logistics division, Polaris Autoliners. The new dry bulk venture will operate out…

  • Tsao-backed vehicle co-launches $75m Asia Ocean Fund

    Tsao-backed vehicle co-launches $75m Asia Ocean Fund Two high-profile names from opposite sides of the world — Asian shipping tycoon Chavalit Frederick Tsao and Norwegian impact investor Tharald Nustad — have teamed up to create a new ocean impact vehicle aimed squarely at Asia. The pair yesterday unveiled the Asia Ocean Fund, a $75m investment…

  • HD Hyundai eyes US yard in bid to cash in on Trump’s shipbuilding revival

    HD Hyundai eyes US yard in bid to cash in on Trump’s shipbuilding revival South Korea’s HD Hyundai Heavy Industries has confirmed it is in talks with multiple firms to buy a US shipyard, a move aimed at tapping into Washington’s resurgent naval build-up under president Donald Trump. A senior HD Hyundai executive told Reuters…

  • New data clears biofuels for extended deployment

    New data clears biofuels for extended deployment The Global Centre for Maritime Decarbonisation (GCMD) has published results from its six-month Project LOTUS trial, showing that long-term use of biofuels on oceangoing ships can be done safely without hitting performance or costs. Launched with Japan’s Nippon Yusen Kaisha in May 2024, the project put a B24…

  • LNG scrapping sets annual record

    LNG scrapping sets annual record LNG carrier demolition sales have already reached an annual record with nearly 30% of the year still to go. Data from Clarksons Research show 0.8m dwt worth of LNG carriers have been sent for demolition this year as weak market conditions have led to several steam turbine units being disposed…

  • Wan Hai 503 finds refuge in Dubai after 13-week odyssey

    Wan Hai 503 finds refuge in Dubai after 13-week odyssey The long-stranded Wan Hai 503 has finally found shelter in Dubai, ending a 13-week saga. The 2005-built, 4,333 teu vessel had been at sea since June, unable to discharge or secure port access after a severe fire onboard. The ship, which is operated by Wan…

  • Adani turns away sanctioned tankers from its ports in India

    Adani turns away sanctioned tankers from its ports in India India’s largest private port operator, Adani Group, has banned entry of tankers that are sanctioned by the US, UK or the European Union, according to multiple local media outlets. Adani’s port footprint in India is more focused on containers and dry bulk than tankers with…

  • US unleashes its largest sanctions package aimed at the Houthis

    US unleashes its largest sanctions package aimed at the Houthis Yesterday, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) unveiled its largest sanctions to date against the Houthis, designating 32 individuals and entities, including a Dubai shipmanager as well as four vessels – two MRs and two handy tankers “The Houthis…

  • HMM signs long-term contract with Vale

    HMM signs long-term contract with Vale HMM has signed a long-term contract of affreightment (COA) with Brazil’s Vale, valued at KRW430bn ($309m). This is the second contract signed between the two companies, following a KRW 636bn, 10-year deal concluded in May. Under the new agreement, HMM will transport iron ore using five bulk carriers over…

  • Korea Shipowners’ Association hits out at POSCO’s HMM takeover plans

    Korea Shipowners’ Association hits out at POSCO’s HMM takeover plans The Korea Shipowners’ Association has hit out at reports the country’s top steel mill is being linked with taking over national flagship, HMM. Splash reported last week that advisors from Samil PwC and Boston Consulting Group have been working with POSCO on feasibility studies for…

  • Tsakos adds to VLCC orderbook at Hanwha Ocean

    Tsakos adds to VLCC orderbook at Hanwha Ocean Greece’s Tsakos Energy Navigation (TEN) has expanded its VLCC newbuilding programme at South Korea’s Hanwha Ocean, adding one firm vessel and securing an option for a fourth. The new order builds on the two 320,000 dwt units TEN booked at the yard earlier this year. Those ships,…

  • Maersk muscles in on COSCO’s intra-Asia crown

    Maersk muscles in on COSCO’s intra-Asia crown Maersk has climbed the ranks of the intra-Asia trades to challenge the tradelane’s leader COSCO, according to new data compiled by Alphaliner.  The Danish carrier has added an extra 100,000 teu in capacity into the intra-Asia trades over the past 12 months, container shipping’s busiest area, whereby it…

  • Turkey’s GSD Marin returns to Japan for fresh ultramax order

    Turkey’s GSD Marin returns to Japan for fresh ultramax order Turkish bulker owner GSD Marin has returned to Japan for another ultramax order, signing a deal with Nihon Shipyard for a 64,000 dwt newbuild due in 2029. The Istanbul-listed subsidiary of GSD Holding already has a similar ship on order at the same yard, a…

  • Trading platforms teaming up to strengthen Asian LNG market

    Trading platforms teaming up to strengthen Asian LNG market Singapore’s Abaxx Commodity Exchange and China’s Qingdao International Energy Exchange intend to explore strategic collaboration in the physical liquefied natural gas (LNG) market. The post Trading platforms teaming up to strengthen Asian LNG market appeared first on Offshore Energy. Dragana Nikše Go to offshore energy biz

  • Ningbo Ocean Shipping looks to Singapore for global fleet expansion

    Ningbo Ocean Shipping looks to Singapore for global fleet expansion Ningbo Ocean Shipping has revealed a plan to invest around CNY2.9bn ($406.5m) via its Singapore arm to set up two more subsidiaries in the country to further grow its fleet. The company will invest CNY1.2bn ($168.2m) to establish Ningbo Ocean Shipping Singapore Longitude and CNY1.7bn…

  • Evalend swells suezmax orderbook in South Korea

    Evalend swells suezmax orderbook in South Korea Greek owner Evalend Shipping has bolstered its suezmax newbuilding orderbook in South Korea, with two additional units lined up for construction at HD Hyundai Samho. Shipbuilding sources have named the Kriton Lendoudis-led company behind the recently announced order for a pair of 157,000 dwt newbuilds with delivery expected…

  • POSCO circles HMM as speculation mounts on state-backed exit

    POSCO circles HMM as speculation mounts on state-backed exit Speculation is mounting in Seoul that steel giant POSCO could emerge as the frontrunner to acquire a controlling stake in liner major HMM. Local media report that advisors from Samil PwC and Boston Consulting Group are understood to be working with POSCO on feasibility studies for…

  • PSA Mumbai poised to become India’s largest container terminal

    PSA Mumbai poised to become India’s largest container terminal The prime ministers of India and Singapore gave speeches yesterday ahead of the inauguration of what will become India’s largest container terminal. With the inauguration of its phase two expansion, PSA Mumbai is poised to become India’s largest container terminal, doubling its annual handling capacity to…

  • NatPower Marine and Wah Kwong team up for Asian port electrification push

    NatPower Marine and Wah Kwong team up for Asian port electrification push NatPower Marine and Hong Kong-based shipowner Wah Kwong Maritime Transport have set up a joint venture to roll out large-scale shore power and vessel charging infrastructure across Asia. The new company, Wah Kwong NatPower, will start with projects in Hong Kong from 2026…

  • Shipping heavyweights invest in AI safety firm Captain’s Eye

    Shipping heavyweights invest in AI safety firm Captain’s Eye AI safety technology firm Captain’s Eye has completed its Series A funding round, bringing in backing from major shipping groups Eastern Pacific Shipping (EPS), MOL PLUS of Mitsui OSK Lines, and The Caravel Group. The investors, which collectively control or manage more than 1,700 ships, are…

  • Hafnia swoops for 14.5% Torm stake in $311m deal with Oaktree

    Hafnia swoops for 14.5% Torm stake in $311m deal with Oaktree Singapore-based product tanker giant Hafnia has agreed to acquire a 14.45% holding in Danish rival Torm from Oaktree Capital Management in a deal worth about $311.4m. The BW Group-backed owner will pay $22 per share for the block of A-shares in the Copenhagen- and…

  • Nam Cheong pulls plug on Japan OSV contract

    Nam Cheong pulls plug on Japan OSV contract Malaysia’s Nam Cheong has terminated a charter deal for one of its offshore support vessels with an offshore wind farm contractor in Japan after the charterer failed to meet its obligations. The Singapore-listed company said the contract collapsed following the cancellation of the charterer’s downstream agreement with…

  • Interasia in for up to eight boxship newbuilds

    Interasia in for up to eight boxship newbuilds Asian regional container operator Interasia Lines has returned to the shipbuilding market, signing a contract with Jiangsu YangZiJiang Shipbuilding Group (YZJ) for up to eight 2,900 teu vessels. The order includes six firm newbuilds and two optional units, marking Interasia’s first collaboration with YZJ. Financial terms have…

  • Japan delivers world’s first commercial ammonia-fuelled engine

    Japan delivers world’s first commercial ammonia-fuelled engine Japan Engine Corporation (J-ENG) has claimed a significant step in shipping’s decarbonisation drive with the completion of the world’s first full-scale commercial ammonia-fuelled engine. The seven-cylinder, 50 cm bore 7UEC50LSJA-HPSCR engine was finalised on August 30, following official test runs at J-ENG’s factory in Akashi under the supervision…

  • Wan Hai fire-hit boxship towed toward Middle East after 11 weeks adrift without refuge

    Wan Hai fire-hit boxship towed toward Middle East after 11 weeks adrift without refuge The fire-damaged Wan Hai 503 is being towed across the Arabian Sea toward the Middle East after spending nearly 11 weeks stranded without a port of refuge, following rejections from both Sri Lanka and India. The 4,333 teu containership (built 2005)…

  • Splash Wrap: Koreans bankroll America’s rusting docks

    Splash Wrap: Koreans bankroll America’s rusting docks Shipbuilding has become a central part of trade diplomacy in the Trump era. As well as a customised gold putter, it was noticeable that the Korean president, Lee Jae Myung, also presented Donald Trump with a model of an ancient Korean battleship when the pair met up earlier…

  • HD Hyundai Heavy and Hyundai Mipo to merge

    HD Hyundai Heavy and Hyundai Mipo to merge South Korea’s HD Hyundai Heavy Industries has rolled out plans to merge with its affiliate HD Hyundai Mipo Dockyard by the end of the year, aiming to strengthen its position in the US naval and Arctic shipbuilding markets. The move comes after a Korea-US summit highlighted shipbuilding…

  • DOF scores Asia Pacific vessel deal

    DOF scores Asia Pacific vessel deal Norwegian offshore vessel owner DOF has secured a long-term charter for the construction support vessel (CSV) Skandi Inventor in the Asia-Pacific region. The deal, signed with an unnamed international operator, runs for one year from January 2026 and includes extension options. DOF classifies the award as “substantial,” with an…

  • Hanwha bankrolls Philly revival in showpiece of Korea-US shipbuilding pact

    Hanwha bankrolls Philly revival in showpiece of Korea-US shipbuilding pact Hanwha Group has unveiled a $5bn expansion plan for Hanwha Philly Shipyard as well as ordering 10 tankers to be built in Philadelphia, in a landmark moment for Korea-US industrial cooperation designed to revive American shipbuilding. The announcement was made on Tuesday at the christening…

  • Seoul bets on shipbuilding to keep Trump sweet

    Seoul bets on shipbuilding to keep Trump sweet South Korea is making shipbuilding the anchor of its trade diplomacy with Washington, rolling out billions in promises to revive America’s rusted yards in a bid to keep Donald Trump on side. President Lee Jae Myung’s first US trip saw him push a $350bn investment package, with…

  • APM Terminals seals $1bn ports deal in India

    APM Terminals seals $1bn ports deal in India Maersk’s port operating arm, APM Terminals, has signed a memorandum of understanding with India’s Andhra Pradesh Maritime Board to invest 9,000 crore (around $1.1bn) in the development of three key ports in the state. The agreement, inked in the presence of chief minister N Chandrababu Naidu, covers…

  • Bill Gates in Korea to further nuclear-powered ships project with HD Hyundai

    Bill Gates in Korea to further nuclear-powered ships project with HD Hyundai Bill Gates, in his role as founder of TerraPower, met with HD Hyundai’s executive vice-chairman Chung Kisun in Seoul today to further a strategic partnership aiming to commercialise small modular reactor (SMR) propulsion. The meeting—after their March rendezvous in the US—centred on scaling…

  • Suezmaxes cash in on Kazakh export disruption

    Suezmaxes cash in on Kazakh export disruption Suezmax spot rates are surging as Kazakhstan runs into mounting difficulties with its oil exports, tightening the tonnage list across the Mediterranean and beyond. Kazakhstan has suspended flows via the Baku–Tbilisi–Ceyhan (BTC) pipeline after chloride-contaminated crude entered the system in late July, diverting volumes to the Caspian Pipeline…

  • HD Hyundai buys Doosan’s Vietnam yard for $207m

    HD Hyundai buys Doosan’s Vietnam yard for $207m HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the holding company of HD Hyundai Group, has struck a deal to acquire Doosan Vina, the Vietnamese manufacturing unit of Doosan Enerbility, in a transaction worth 290bn won ($207.5m). The deal will see HD KSOE take full control of…

  • TMS Cardiff Gas and Celsius tied to $1.5bn Samsung LNG orders

    TMS Cardiff Gas and Celsius tied to $1.5bn Samsung LNG orders Two well-known names in LNG shipping have been linked to fresh orders at Samsung Heavy Industries, as newbuilding activity in the gas carrier segment shows signs of life. The South Korean yard confirmed this week it had secured contracts for six 174,000 cu m…

  • KMTC upsizes fleet with $600m order at HD Hyundai

    KMTC upsizes fleet with $600m order at HD Hyundai Korea Marine Transport Co (KMTC) has been linked to its biggest move yet in the newbuild market, locking in an order for four 13,000 teu containerships at HD Hyundai yards. Brokers report the Seoul-based liner operator has committed to the quartet at around $150m per ship,…

  • Performance Shipping tanker heads to Pakistan under year-long charter

    Performance Shipping tanker heads to Pakistan under year-long charter Greece’s Performance Shipping has secured a fresh time charter for one of its tankers, agreeing a year-long fixture with Pakistan National Shipping Corporation (PNSC). The 105,304 dwt LR2/aframax P Aliki has been fixed at a daily rate of $30,000 for a firm period of 12 months,…

  • Meratus adds more feeders at Guangxi Shipbuilding

    Meratus adds more feeders at Guangxi Shipbuilding Indonesian shipowner and logistics group Meratus is expanding its fleet with feeder newbuildings at one of its go-to yards in China. The company has signed the newbuilds with CSSC Guangxi Shipbuilding and Offshore Engineering, a yard it has repeatedly tapped for similar tonnage. The new vessels are scheduled…

  • X-Press Feeders fires back in $1bn Sri Lankan court fight

    X-Press Feeders fires back in $1bn Sri Lankan court fight Singapore’s X-Press Feeders has hit back at the Sri Lankan Supreme Court’s order to pay $1bn within a year over the 2021 X-Press Pearl casualty, warning the decision tramples on due process, scapegoats its crew, and poses a dangerous precedent for global shipping. The feeder…

  • Shipping navigates net-zero waters without US support

    Shipping navigates net-zero waters without US support The US decision to go public on its offensive against the International Maritime Organization’s proposed net-zero framework has created considerable debate within the shipping community.  Various ministers within the Donald Trump administration issued a joint statement this week branding the plan a “global carbon tax on Americans” and…

  • HD Hyundai’s new Philippine yard to open in January with capacity for 10 ships a year

    HD Hyundai’s new Philippine yard to open in January with capacity for 10 ships a year South Korea’s HD Hyundai is set to start shipbuilding in the Philippines from January next year, with a revamped Subic Bay yard capable of turning out up to 10 vessels annually. The shipbuilding giant has signed a 10-year lease…

  • Property woes cast long shadow over China’s steel and iron ore demand

    Property woes cast long shadow over China’s steel and iron ore demand The fragile state of China’s real estate sector continues to weigh heavily on dry bulk fortunes. State-run developer China South City Holdings was ordered to liquidate by Hong Kong’s High Court yesterday, with debts nearing $8bn, making it the biggest Chinese builder by…

  • Eastern Pacific lines up feeder boxship series at Mawei Shipyard

    Eastern Pacific lines up feeder boxship series at Mawei Shipyard Singapore-based Eastern Pacific Shipping (EPS) has made another move into the feeder container market with a major newbuilding order at China’s Fujian Mawei Shipbuilding. Sources following EPS’ shipbuilding moves said the Idan Ofer-led owner has inked firm contracts for 12 vessels of 1,800 teu capacity,…

  • Dong Fang Offshore lands 15-year SOV contract in Taiwan

    Dong Fang Offshore lands 15-year SOV contract in Taiwan Taiwanese offshore vessel operator Dong Fang Offshore (DFO) has won a landmark 15-year contract with Synera Renewable Energy (SRE) to provide a service operations vessel (SOV) for the Formosa 4 offshore wind project. The deal is described as the longest SOV fixture seen to date in…

  • Splash Wrap: Flags, fines and fakes

    Splash Wrap: Flags, fines and fakes Sanctions, the shadow fleet, and the many ways authorities are trying to clamp down on this illicit trade kept Splash reporters busy all week, with clear evidence that the dark fleet is growing quicker than the West can contain.  The grey fleet – as tracked by broker BRS –…

  • Trump slaps India with new tariffs over Russian crude ties

    Trump slaps India with new tariffs over Russian crude ties US president Donald Trump has signed an order imposing an additional 25% tariff on goods from India, in response to the country’s continued imports of Russian energy, the White House said on Wednesday, a move that could reshape the global tanker trades. The decision came…

  • Kmarin books newcastlemax newbuilds in China

    Kmarin books newcastlemax newbuilds in China South Korea’s Kukje Maritime Investment (Kmarin) has returned to the newbuilding market with an order for two newcastlemax bulk carriers, ending a seven-year absence from the shipyard orderbooks. The Seoul-based owner has contracted Jiangsu New Hantong Ship Heavy Industry to build the 210,000 dwt vessels. No price or delivery…

  • Gujarat court arrests shadow aframax bound for the breakers

    Gujarat court arrests shadow aframax bound for the breakers A shadow aframax tanker sold for scrap earlier this year has been arrested in India following a failed transaction and claims by the buyer that the vessel was sanctioned and misrepresented at the time of sale. The Gujarat High Court has ordered the arrest of the…

  • BP and JERA’s offshore wind alliance takes off

    BP and JERA’s offshore wind alliance takes off Energy major BP and Japan’s largest utility JERA have completed the formation of their equally-owned offshore wind business JERA Nex BP. JERA Nex BP’s portfolio of operating assets and development projects has a net potential generating capacity of 13GW. This includes around 1GW of installed net generating…

  • NYK and Chuo University to explore shipborne sea life for human health gains

    NYK and Chuo University to explore shipborne sea life for human health gains Japan’s Nippon Yusen Kabushiki Kaisha (NYK Line) and Chuo University have recently launched a joint research initiative to discover novel natural products from marine organisms. The project aims to identify previously unknown substances that may have beneficial applications for humanity, including potential…

  • SeaLead drops 16 boxships after US sanctions target Iranian-linked fleet

    SeaLead drops 16 boxships after US sanctions target Iranian-linked fleet Singapore-based container carrier SeaLead has been forced into a dramatic fleet reshuffle after terminating the charters of 16 container vessels in response to fresh US sanctions. The move comes just days after the US Treasury’s Office of Foreign Assets Control (OFAC) unveiled new measures targeting…

  • Great Eastern picks up secondhand kamsarmax

    Great Eastern picks up secondhand kamsarmax Indian owner Great Eastern Shipping is pressing ahead with its fleet renewal initiative, having contracted to buy a 2015-built kamsarmax bulk carrier. The unnamed 81,843 dwt vessel is expected to change hands by October, the Mumbai-listed diversified owner said in a stock exchange filing. While the company has not…

  • Sapura Energy rebrands as Vantris Energy

    Sapura Energy rebrands as Vantris Energy Malaysian offshore services company Sapura Energy has now officially changed its name to Vantris Energy, following a shareholder vote. The name change came into effect on August 1. The rebranding is part of the company’s wider regularisation plan aimed at stabilising its financial footing and resetting its corporate direction.…

  • Malaysia cracks down on illegal ship-to-ship transfers

    Malaysia cracks down on illegal ship-to-ship transfers Malaysia has introduced new regulations to combat illegal ship-to-ship (STS) oil transfers in its territorial waters, a move that could disrupt operations of the so-called shadow tanker fleet moving sanctioned oil to China. Under the new rules, vessels caught conducting unauthorised STS operations will face immediate detention, with…

  • South Korea to invest $150bn in US shipbuilding

    South Korea to invest $150bn in US shipbuilding South Korea has agreed to invest $150bn into a dedicated US shipbuilding revitalisation fund, as part of a $350bn bilateral trade agreement signed Wednesday in Washington. The move—touted as the largest Korean industrial investment in US history—aims to inject new life into America’s struggling shipyards while simultaneously…

  • Greta Shipping enters market with three Middle East – India Subcontinent loops

    Greta Shipping enters market with three Middle East – India Subcontinent loops New feeder entrant Greta Shipping is launching three dedicated services connecting the Middle East and the Indian Subcontinent. The company, a Singapore-registered subsidiary wholly owned by Chinese conglomerate Xiamen C&D, will officially launch its operations in mid-August, according to Alphaliner. Greta Shipping’s JKX…

  • Boskalis and Allseas to construct $1.4bn gas pipeline off Taiwan

    Boskalis and Allseas to construct $1.4bn gas pipeline off Taiwan A consortium of Boskalis and Allseas has been awarded a contract by CPC Corporation Taiwan for the second offshore gas pipeline from Yongan to Tongxiao. The total contract value is approximately €1.2bn ($1.39). This project is intended to improve the gas supply capacity in northern…

  • Diana Shipping takes softer rate on new kamsarmax fixture

    Diana Shipping takes softer rate on new kamsarmax fixture Hot on the heels of ultramax charter deal with Cargill, Greece’s Diana Shipping has fixed one of its kamsarmaxes to Singapore-based Propel Shipping, accepting a reduced dayrate compared to the vessel’s previous employment. The New York-listed dry bulk outfit with 36 ships in its fleet has…

  • Hutchison eyes Chinese strategic partner to get $22.8bn ports deal over the line

    Hutchison eyes Chinese strategic partner to get $22.8bn ports deal over the line CK Hutchison, the Hong Kong-based conglomerate, confirmed on Monday that it is in discussions to bring a “major strategic investor” from China into the bidding consortium for its $22.8bn global ports business. The move follows the expiration of a 145-day exclusivity agreement…

  • CK Line books up to four feeder boxships at Yangzijiang

    CK Line books up to four feeder boxships at Yangzijiang South Korea’s CK Line has placed an order for up to four feeder containerships at China’s Yangzijiang Shipbuilding. The Seoul-based liner operator has booked two firm 1,100 teu newbuilds at around $23 per ship, with options secured for two more. The first two units are…

  • Capital Maritime takes option on HD Hyundai Mipo boxship brace

    Capital Maritime takes option on HD Hyundai Mipo boxship brace Greece’s Capital Maritime has firmed up an order for two more LNG dual-fuel 2,800 teu containerships at HD Hyundai Mipo Dockyard in South Korea, bringing its total number of newbuildings to 10. The deal is valued at around $113m, with deliveries expected in July and…

  • Sri Lanka’s top court orders $1bn payout over X-Press Pearl disaster

    Sri Lanka’s top court orders $1bn payout over X-Press Pearl disaster Sri Lanka’s Supreme Court has ordered the owners and operators of the X-Press Pearl container vessel to pay $1bn in compensation for the devastating environmental and economic damage caused when the ship caught fire and sank off Colombo in 2021. Described by the court…