Frontline restructuring moves ahead
Frontline Ltd., the world’s largest tanker company, today issued an update on progress with the restructuring plan it announced December 6. That plan is backed by more than $505 million in guarantees
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ASRY marks anniversary with investment
Arab Shipbuilding and Repair Yard (ASRY), one of the world’s leading shiprepairers, opened its doors to more than 400 guests, including a group of international journalists earlier this month as part of
Fredriksen gives massive backing to Frontline restructuring plan
John Fredriksen controlled Hemen Holding Ltd. is giving more than $505 million in guarantees to restructure Frontline Ltd. in a solution that will see the world’s largest tanker company carved into two.
First car carrier with all-electric RO/RO access enters service
With the entry into service of the Mitsui O.S.K. Lines Ltd (MOL) Iris Ace, Cargotec’s growing electric-drive RO/RO references now include the first vessel to have all-electrically-driven RO/RO access. The 4,000-unit pure
First VLCC order for ultra long stroke MAN Diesel & Turbo G-type
First VLCC Order with the New G-Type Engine Greek ship management company Almi Tankers S.A. is set to establish itself as a market front runner with the new ultra long stroke G-type
Frontline sheds last three single-hull tankers
John Fredriksen is getting out of single-hull tanker operation. Frontline Ltd. and Ship Finance International Limited have agreed to terminate the long term charter parties for the single- hull VLCCs Titan Orion,
VOS ballast water treatment systems ordered for Sovcomflot VLCC’s
N.E.I. Treatment Systems announced today the receipt of its first order from Bohai Shipbuilding Heavy Industry for two Venturi Oxygen Stripping (VOS) ballast water treatment systems (BWTS) to be installed aboard two
Depressed tanker spot rates could lead to increased scrapping
In its Marine Transportation: Tankers e-newsletter for August 30, Dahlman Rose & Co. reports that weak day rates in the tanker market for older tonnage could lead to increased scrapping. Dahlman Rose
Austal cats head for Guadeloupe
Two 47 m high speed catamaran ferries have departed Austal’s Henderson, Australia, shipyard for Guadeloupe, where they will soon start operations for long-standing Austal customer L’Express des Iles. Austal was selected by
Revenues and profits soar at China Rongsheng Heavy Industries
Hong Kong listed shipbuilding giant China Rongsheng Heavy Industries Group Holdings Limited reports soaring revenues and profits for the six months ended June 30, 2011 – a period that saw the company