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Big VLGC Order for Daewoo

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ALVBAHIYADaewoo Shipbuilding & Marine Engineering has signed an order to build eight 84,000 cu m Very Large Gas Carriers for China Peace.

Earmarked for delivery in 2016 the ships represent a major investment with a price tag of around $80m each. The company, which also has an option for a further four ships, is just the latest to join the rush to invest in building VLGCs.

Read more: Big VLGC Order for Daewoo

   

Asia Poised for Cruise Growth

ArcadiaAsia has the potential to become one of the world’s biggest cruise markets with broad economic benefi ts driven by the cruise industry’s long value chain, so says Carnival Australia CEO Ann Sherry who was speaking at the ASEAN Tourism Forum Ministers’ Meeting in Sarawak.

Read more: Asia Poised for Cruise Growth

   

Hobart Shipping Observations

Alexander SpiritThe Port of Hobart is one of the best deepwater ports in the world; a thriving commercial port offering safe all-weather access to all kinds of vessels, both large and small.

Read more: Hobart Shipping Observations

   

Asian Yards to Build First Methanol-Fuelled Tankers

S90MEGIMitsui OSK Lines and two other companies are building the world’s first chemical and product tankers that can run on both methanol and conventional bunker fuel.

Read more: Asian Yards to Build First Methanol-Fuelled Tankers

   

Marine Insurance and Looters

Tomi EleganceHaving gone ashore during Typhoon Haiyan on 8th November, the owners of the general cargo ship Tomi Elegance was seeking to declare the vessel a constructive total loss, if the cost to refloat and repair the vessel proves to be excessive.

Looking at photos of the ship high and dry there seems little doubt that this is indeed the case. Tacloban Oil Mills were awaiting the arrival of surveyors at Tacloban City to determine the extent of damage sustained.

The vessel was also targeted by looters, who stole the vessels supplies, equipment and a part of the vessels cargo of 500 metric tonnes of copra.

More on this and other news in Sea Breezes Magazine - February 2014 Issue
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Bankruptcy Threat for CSC Phoenix

Chinese state shipping company CSC Phoenix has gone into corporate restructuring after a court accepted petitions from two creditors who argued the carrier cannot repay its debts with its net negative asset value.

Read more: Bankruptcy Threat for CSC Phoenix

   

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The tanker Orasund forcing a passage to Rotterdam. Force 9 southwesterly wind and heavy rain slap the water (Flying Focus www.flyingfocus.nl)